In Hong Kong, unless an individual or company is exempted, if they wish to conduct ten “regulated activities” defined by the Securities and Futures Ordinance, they need to apply for a license/registration with the SFC.
- Type 1 Dealing in securities
- Type 2 Dealing in futures contracts
- Type 3 Leveraged foreign exchange trading
- Type 4 Advising on securities
- Type 5 Advising on futures contracts
- Type 6 Advising on corporate finance
- Type 7 Providing automated trading services
- Type 8 Securities margin financing
- Type 9 Asset management
- Type 10 Providing credit rating services
Examples include collecting commissions to buy and sell securities for clients, which is a Type 1 regulated activity;the provision of trading advice on securities to customers for a fee is a type 4 regulated activity. So what does securities mean? Securities refers to a kind of valuable certificates that represent property rights, including stocks, bonds, and warrants such as Hong Kong stocks and U.S. stocks. Therefore, charging customers for trading Hong Kong stocks, US stocks, and bonds on their behalf belong to Type 1 regulated activities and need to apply for a license/registration with the Securities and Futures Commission. One of the conditions for licensing/registration is to partake and pass the Licensing Examination for Securities and Futures Intermediaries (HKSI LE).
What exam do you need to take?
This depends on your position in the company. If you have just entered the industry and have no experience in the securities industry, you should start with being a licensed representative. Licensed representatives of securities trading need to take HKSI LE Papers 1, 7, 8. For exemption information, please refer to
https://2cexam.com.hk/a1015_eng/
Examination papers required to be partaken by licensed representatives
The HKSI LE exam has 14 different exam papers. Which ones do you need to take? In fact, it depends on what activities you want to engage in, in other words, what services or products you want to sell or provide. For example, if you want to trade securities products such as Hong Kong stocks, US stocks, bonds, etc. on behalf of your clients, you need to take HKSI LE papers 1, 7, and 8. Or if you want to work in an asset management company and deal with products related to funds or discretionary accounts, you may need papers 1, 7, and 12. You can first refer to the following chart to evaluate what combination of exam papers you need to take, and then refer to the exemption conditions to determine whether you need to take the entire combination of exam papers.
Exam papers to be taken by Responsible Officers
The examination papers of responsible officers are also based on the same principles as the examinations to be taken by the licensed representative. It depends on the type of activity you are engaged in, that is, the financial products/services that the company you will work for want you to regulate. For example, if you need to conduct Type 2 and 5 regulated activities, that is, to conduct dealing in future contracts or to advise on future contracts, you need to take HKSI Paper 1 and 3. If you have taken HKSI LE Paper 1 and applied for a license to become a licensed representative before becoming a responsible officer, you do not need to take the exam again. So just take the HKSI LE Paper 3. You can first refer to the following chart to estimate what combination of examination papers you need to take and then refer to the exemption conditions to determine whether you need to take the entire combination of examination papers.
If more than one exam paper is required to be taken, which one should I partake first?
There is no requirement for the order of passing the exam in all the qualification exam papers. Candidates can apply for different exam papers according to their needs and decide the order of their own. For example, the exams of papers 2, 6, and 16 can still be retaken if a candidate fails in paper 1. Although there is no official restriction on the order of taking the exams, we recommend that students start with the paper 1 exam, because the paper 1 exam is the foundation, and many of the other papers are part of the content of the paper 1 exam, or an extension of a certain chapter of the paper 1 exam. Studying paper 1 allows the candidate to have a relatively macro and clearer mind map of various concepts, hence it is easier for the candidates to connect the different concepts.
How should I study for the exam?
The pass rate of HKSI LE has always been a big worry for many candidates, Here we recommend a review method for everyone:
- First study the material study manual / 2CExam Youtube instructional video by each chapter
English Videos
HKSI LE Paper 1 Free Class
https://www.youtube.com/playlist?list=PLilKLKW6-sshHzqqCUowV243F3sjymUr7
Chinese Videos
HKSI LE Paper 1 Free Class https://www.youtube.com/watch?v=Gj8tfrHGFOY&list=PLilKLKW6-ssjSl1PCuyTymFWQJwT_jmua
HKSI LE Paper 2 Free Class
HKSI LE Paper 6 Free Class
HKSI LE Paper 7 Free Class
HKSI LE Paper 8 Free Class
HKSI LE Paper 12 Free Class
https://youtube.com/playlist?list=PLilKLKW6-ssgFnTWO6wOad7aoZd6T3R0G
This revision method takes 20-25 hours, and statistically has a pass rate of 80%.
No statistics are available for other review methods.
2CExam is a company that specializes in training candidates to take the securities, insurance and real estate exams. Regarding IIQE, 2CExam has produced free Cantonese video teaching Paper 1, 2, 3, which is publicly released on major well-known video sharing websites at no additional charge. If students have difficulty understanding the content of the study manual when taking the HKSI paper 1, 2, 3, they can choose to watch the other instructional videos. If you want to purchase review materials to better understand the content of the exam, you can visit www.2cexam.com (physical product) or www.hksiiiqepasspaper.online (online version)
How can we help?
2CExam provides HKSI LE, IIQE, EAQE and SQE related exam preparation materials. We sell mock question banks for IIQE Papers 1, 2, 3, 5 and MPFE in Chinese and English; and bibles for IIQE Papers 1, 2, 3, MPFE in Chinese. We also offer 1 on 1 tutorial services. Besides, we have also made free tutorial videos for IIQE Papers 1, 2, 3 and MPFE and posted on public channels such as Youtube/ Bilibili/ Tencent/ Iqiyi. 2CExam has been an exam training expert for years. Should you need any help please visit www.2cexam.com or contact us through:
Phone +852 2110 9644 Email: [email protected] Wechat: hk2cexam WhatsApp: +852 9347 2064
Please support us by leaving comments and likes if you think this article helps you!
You can scan or click on the QR codes to visit our social media.
Latest Article
Categories
過往文章
Contact US
-
Phone:
+852 2110 9644
-
Email:
-
WhatsApp
+852 9347 2064
-
WeChat
hk2cexam
Interesting Articles
Is the IIQE paper based exam or computer based exam easier? Which exam is better to partake in?
Many people are curious about the differences between the IIQE’s computer-based exam and the paper-based exam. As per the two exams’ content, they are pretty much identical. The two exams use the same Study Guide, the exam questions are drawn in the same question bank. Some people say that they have taken a…
Is the HKSI paper-based exam or the computer-based exam easier? Which is better to partake in?
Many people are curious about the differences between the HKSI LE’s computer-based exam and the paper-based exam. As per the two exams’ content, they are pretty much identical. The two exams use the same Study Guide, the exam questions are drawn in the same question bank. Some people say that they have taken…
What are the differences between a computer-based and paper-based exam for the Estate Agents / Salespersons Qualifying Examinations?
There are differences between the computer-based exam and the paper-based exam? Some people say that the computer-based exam / paper-based exam will be easier? Many people are curious about the differences between the EAQE/SQE’s computer- based exam and the paper- based exam. As per the two exams’ content, they are pretty much…
What is the difference between the computer-based exam and the paper-based exam of the Insurance Intermediaries Qualifying Examination
Many people are curious about the difference between the IIQE’s computer-based exam and the paper-based exam. First of all, IIQE does not hold many paper-based examinations. In many cases, it will only hold paper-based examinations for Paper 1. If you have special needs, such as not being proficient with computers, or having a vision…
What are the differences between the computer-based exam and the paper-based exam of the Licensing Examination for Securities and Futures Intermediaries (LE)?
There are differences between the computer-based exam and the paper-based exam? Some people say that the computer-based exam / paper-based exam will be easier? Many people are curious about the differences between the HKSI LE’s computer-based exam and the paper-based exam. First of all, HKSI does not hold many paper-based examinations. In many…
Which Licensing Examination for Securities and Futures Intermediaries exam paper should I partake in?
If you want to work in the front line of the securities industry, you have a good chance of needing to take The Licensing Examination for Securities and Futures Intermediaries. As for what test papers you need to take, first of all, you need to know that the number of the exam paper has…
If I have an overseas professional qualification, can I obtain a SFC securities license simply by recognising my prior qualification
Some students have worked in the securities finance industry outside of Hong Kong, and now they also need to obtain a securities business license in Hong Kong. Can work experience in the securities industry abroad help you waive the exam and allows a candidate to directly apply for the securities license from the Securities…
In order to obtain exemption from the HKSI LE exam or SFC’s academic requirement, how is relevant industry experience considered?
After reading the “Competency Guidelines” issued by the Securities Regulatory Commission, some students may have a big question mark on “Relevant Industry Experience”, “have X years of experience in the past X years”, and then ask us what kind of experience are counted as industry experience so they can be exempted from the Licensing Examination…
Which insurance intermediary qualifying examination paper should I take?
If you want to work in the front line of the insurance industry, you have a good chance of needing to take the Insurance Intermediaries Qualifying Examination (IIQE). As for what exam papers you need to take, first you can check whether you meet certain conditions to be exempted from specific exam paper combinations…
The difference between IA Responsible Officer(RO) and technical representative (TR)
Regulatory Organisation Before explaining the difference between Responsible Officer and Technical Representative, you must first know that there is only one regulatory agency that regulates companies engaging in insurance business: the Insurance Authority (IA). All the powers concerning licensing matters, supervision tasks, sanctions and investigations of intermediaries of insurance intermediaries, insurance companies and insurance…