Can Top Up Degree be exempted from HKSI LE securities examination? Can I be exempted without previously studied finance?

 

The Guidelines on Competence of the SFC specify that as long as students meet the specified level of academic qualifications and/or work experience, they can be exempted and do not need to take the HKSI LE Securities Examination Papers 7-12. Exempted students only need to take the HKSI LE paper 1, which saves time, effort and examination fees by taking less papers.

 

For more information regarding qualification exception, please refer to: 

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Frequently Asked Questions about Academic Exemption HKSI LE Paper 7-12

 

Many students still have various questions about academic exemption. Therefore, here we share some frequently encountered cases  and provide answers to those questions. We have obtained these answers from consulting SFC staff: 

 

1. Does a bachelor/masters major in management qualify for exemption?

Management is not one of the subjects that can waive the relevant papers.

 

2. Does a bachelor/masters major in marketing qualify for exemption?

Marketing is not one of the subjects that can waive the relevant papers.

 

3. Do I qualify for exemption if I studied liberal arts/ science/ other subjects at university?

It’s not necessarily impossible. First of all, you must see if there are 2 or more subjects related to economics, finance, law, accounting, and business administration in your university degree/master/doctoral degree.  

 

4. Is there an exemption for candidates who hold foreign/ mainland Chinese university degrees?

Based on the Guidelines on Competence issued by the SFC, there is no specific list that excludes any universities from being eligible for exemption. Even the university degree in the Philippines or Iceland is also available for reference. For example, Massachusetts Institute of Technology, California Institute of Technology, Zurich Institute of Technology, Royal Institute of Technology or Hong Kong Polytechnic University, The Open University of Hong Kong or the Open University of the United Kingdom, Biliqin National University, University of Ethiopia, University of Cambridge, University of Oxford, City University, Hong Kong Science and Technology University, Shue Yan University, Hang Seng University, Lingnan University, The University of Hong Kong, The Chinese University of Hong Kong, The University of Tokyo, Kyoto University, Peking University, Fudan University, National Taiwan University, New York University, Chiang Mai University, University of Munich, University of Copenhagen, University of Paris , University of Toronto, University of Chicago, University of Sydney, University of Melbourne, Stanford University, Liberty University, Yonsei University, Sungkyunkwan University, Sheffield University, Yale University, University of Pennsylvania, University of Michigan, University of Edinburgh, King’s College London, The Dutch Catholic University of Leuven, University of Manchester, Wageningen University, University of Montreal, University of Tubingen, University of Leiden, University of Amsterdam, and Shanghai Jiaotong University are also universities recognized by the Securities and Futures Commissions.

 

5. Is there an exemption for candidates who hold a top up degree in finance and law?  

Top up degree majoring in economics, finance, law, accounting, business administration can also be used to waive HKSI LE Papers 7 to 12.

 

6. Is there an exemption for candidates who hold an associates degree?

As the associate degree is not at the same level as the bachelor degree in terms of qualification level, therefore one must obtain 2+ years of relevant work experience within the 5 years period before he/she can be exempted for HKSI LE paper 7 to 12. 

 

7. A top up bachelor degree graduate who is transferred from an associate degree/high diploma passed 2 or more subjects related to economics, finance, law, accounting, and business administration in his/her associate degree/high diploma. In this case can he/she get an exemption?

If the top up degree course itself has 2 or more subjects related to economics, finance, law, accounting, and business administration, HKSI LE papers 7 to 12 can be exempted. But if the subject is only contained in the Higher Diploma and Associate Degree programme, one must provide a written proof stating that the relevant credit has been transferred to the top up degree, or else you cannot use this educational qualification to waive LE Papers 7-12

 

8. Can I apply for an exemption if I have studied related subjects but have not graduated?

Since you have not completed the entire degree course and have not obtained the degree, you cannot apply for an exemption using this degree if you have not graduated.

 

9. If the names of elective subjects are ambiguous, can they help with the exemption?

First of all, names that seem to be related to economics, finance, law, accounting, and business administration do not mean they can definitely help you exempt LE Papers 7-12. The content of the subject is what matters. If the name of your elective subject is rather ambiguous and cannot express its content, but you want to prove that the subject is a subject of economics, finance, law, accounting, and business administration, you can take the initiative to contact your alma mater (the institution that issued the graduation certificate) ) and request to provide written proof of the description of the subject. If the staff of the SFC is convinced, it can be successfully counted as one of the exemption conditions.

 

10. I have a university degree but I did not pass the previous DSE/CE (Hong Kong Diploma of Secondary Education/Certificate Examination), can I be exempted?

Yes, the SFC only takes into account your highest degree, as long as your university degree can be used to waive HKSI LE paper 7 to 12, then you will be eligible.

 

**However, students need to note that whether or not they can obtain a license from the SFC is actually subjectively judged by the case officer of the SFC after reading the entire profile of the student. Since the terms of the Guidelines on Competence of the Securities and Futures Commission are general, although employees act according to the same guidelines, everyone’s understanding may be slightly different. Therefore, whether they can be exempted and whether they can apply for a license depends on the staff of the Securities and Futures Commission. It is decided on a case-by-case basis after considering different factors.

 

Do I need to apply for exemption from HKSI LE Papers 7-12? Should I fill in an application form and what documents should I provide? 

If students are exempted from HKSI LE Papers 7-12 using their academic qualifications and/or work experience, they do not need to fill in additional application forms or documents, as long as students submit relevant academic certificates (may be graduation certificates, or even transcripts and/or work certificates to their company and then their company forwards it to the Securities and Futures Commission (/HKMA), they will be able to obtain an exemption.

 

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