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The Canadian Investment Regulatory Organization (CIRO) has proposed changes to its proficiency rules including changes to the current mandatory courses offered by the Canadian Securities Institute (CSI). Under these proposed rules, subject to approval by the Canadian Securities Administrators (CSA), CIRO will be moving towards an assessment centric proficiency model for Approved Persons of Investment Dealers. For more information on CIRO’s proposed rules, please refer to the CIRO website. If you have any questions on how the proposed changes may impact you, please reach out to proficiency@ciro.ca.

ALL ABOUT EXAMS EXAM FAQS

Hours of study: 100 – 148 Hours

Enrolment Period: 1 Year

What is the NEC exam weighting?

Exam Topics Chapter Details Weightings
The Canadian Investment Marketplace CSC® Volume 1: Chapter 1 5%
The Economy CSC® Volume 1: Chapters 4, 5 7%
Investment Products CSC® Volumes 1 & 2: Chapters 6, 7, 8, 17, 19, 20, 22, 23 25%
Canadian Taxation and Fee-Based Accounts CSC® Volume 2: Chapters 24, 25 16%
The Regulatory Environment and Ethics CPH®: Chapters 1, 2, 3, 9 16%
Opening Client Accounts CPH®: Chapters 4, 5 13%
Maintaining Client Accounts CPH®: Chapters 6, 7, 8 18%

What is the NEC exam structure?

Structure Information
Exams 1
Exam Format Proctored (remote or in-person at a test centre)
Exam Duration 2 Hours
Question Format Multiple-choice
Questions Per Exam 75
Attempts Allowed Per Exam 3
Passing Grade 60%
Assignments None

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