What exam should I take if I want to work at a fund house?

June 2, 2021

 

In Hong Kong, unless an individual or company is designated for exemption, if they wish to conduct the following ten types of “regulated activities” defined by the Securities and Futures Ordinance, they need to apply for a license/registration with the Securities and Futures Commission.

 

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 providing trading advice on securities and charging customers for such services, which are considered as a Type 4 regulated activity that requires a license/registration from the Securities and Futures Commission. The handling of matters related to asset management, such as acting as portfolio manager, fund operation, and account manager for discretionary accounts, is classified as Type 9 regulated activities. One of the conditions for licensing/registration is to partake in and pass the 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 futures contracts or to advise on futures 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 in 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 to 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:

 

  1. 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

http://goo.gl/m4A6mN

 

HKSI LE Paper 6 Free Class

http://goo.gl/Kx1fT3

 

HKSI LE Paper 7 Free Class

http://goo.gl/N3naMg

 

HKSI LE Paper 8 Free Class

http://goo.gl/H1fOvm

 

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

Interesting Articles

Minimum academic requirements for applying for an IA license

August 6, 2021

  Is there a minimum education requirement for the insurance industry?   The conditions for licensing in the insurance industry are included in the “Fit and Proper” Guidelines (GL23/Guideline 23) issued by the Insurance Authority. All intermediaries who wish to be licensed must abide by this guideline.   IA listed the educational requirements for intermediaries…

Minimum academic requirements for applying for a SFC license

August 6, 2021

Is there a minimum education requirement for the securities industry? The licensing requirements for the securities industry are set by the Securities and Futures Commission (SFC) and compiled into the Guidelines on Competence. All intermediaries who wish to be licensed or registered for regulated activities are required to abide by this guideline.   SFC lists…

How should I apply for a license if I want to engage in the real estate industry? What conditions must I meet?

August 6, 2021

  First of all, to apply for a real estate intermediary license, you need to meet the “Fit and Proper” Guidelines issued by the Estate Agent Authority, such as passing EAQE or SQE.   Secondly, The financial status of the applicant will also be reviewed, and the applicant cannot be under bankruptcy status or enter…

How do I apply for a license if I want to engage in the insurance industry? What conditions must I meet?

August 6, 2021

  The insurance industry can not only help some people who may have urgent needs in the future, but also enables agents to possibly make a lot of money, as well as meet wealthy people, hence it is a very attractive profession. To go back to the basics, if a candidate wants to sell insurance…

How should I apply for a license if I want to engage in the securities industry? What conditions must I meet?

August 6, 2021

  In the finance, banking, and securities industries, there are millions of assets flowing in and out everyday to say the least. Many people are eager to meet wealthy people, earn a generous amount of commission income, and even easily be in control of the stock market. However, to go back to the basics, if…

Who should I contact if I have questions about licensing in the real Estate industry? Why can’t I contact PEAK? Should I contact 2CEXAM?

July 27, 2021

  Many students who want to become insurance intermediaries may have some questions regarding what exams to take and what to pay attention to when issuing licenses; with that, they might not know who to ask. Should candidates ask 2CExam? PEAK? Or the  Estate Agents Authority ?    In fact, PEAK is only responsible for…

Who should I contact if I have questions about licensing in the insurance industry? Why can’t I contact PEAK? Should I contact 2CEXAM?

July 26, 2021

  Many students who want to become insurance intermediaries may have some questions regarding what exams to take and what to pay attention to when issuing licenses; with that, they might not know who to ask. Should candidates ask 2CExam? PEAK? Or the Insurance  Authorities?    In fact, PEAK is only responsible for organising exams,…

Who should I contact if I have questions about licensing in the securities industry? Why can’t I contact HKSI? Should I contact 2CEXAM?

July 26, 2021

  Many students who want to become securities practitioners may have some questions regarding what exams to take and what to pay attention to when issuing licenses; with that, they might not know who to ask. Should candidates ask 2CExam? HKSI? Or the SFC?    In fact, HKSI is only responsible for organising exams, issuing…

What is the difference with the IIQE examination after the Insurance Authority (IA) takes over the insurance industry?

July 26, 2021

  The long-standing self-regulatory method of the insurance industry officially ended on September 23, 2019. Beginning on September 23, 2019, the Insurance Authority (IA) took over the management of all compliance, licensing, monitoring and disciplinary matters for the entire insurance industry. After taking over, the Insurance Authority (IA) has also made changes to some of…

Is the Estate Agents / Salespersons Qualifying Examinations paper-based exam or the computer-based exam easier? Which is better to partake in?

July 26, 2021

  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 identical. The two exams use the same Study Guide to Estate Agency Law and Practice and other study material, the exam questions are drawn in…