What is the Hong Kong 178 license?
In fact, the 178 license is not a real license but refers to a combination of examination papers that need to be taken. It consists of the Hong Kong Securities and Futures Practitioners Qualification Examination Paper 1, Paper 7, and Paper 8.
In Hong Kong, activities related to the securities industry, such as collecting commissions for buying and selling securities for clients, are regulated by the Securities and Futures Commission (SFC). One must obtain an SFC license before engaging in such activities.
One of the competency requirements for applying for an SFC license to become a representative or responsible officer is to pass the specified exams in the Licensing Examination (LE) administered by the Hong Kong Securities and Investment Institute (HKSI).
For example, if you want to engage in regulated Type 9 activities in Hong Kong - providing asset management, such as managing real estate investment plans as a sales representative, you must pass the HKSI LE Papers 1, 7, and 12.
To engage in regulated Type 1 activities - securities trading - one must pass the HKSI LE Papers 1, 7, and 8.
In addition, passing the exam does not guarantee a successful licensing!
Passing the exam only fulfills one of the competency requirements - meeting the industry qualifications or local regulatory framework examination criteria. Other requirements include education, relevant industry experience, recognized industry qualifications, or additional ongoing training.
Applicants need to submit the exam qualification proof along with other required documents to the Securities and Futures Commission (SFC) for approval. If approved, they will obtain the qualification to carry out the regulated activities in question, which is considered as obtaining the license.
How can we help?
2CExam provides HKSI LE, IIQE, EAQE and SQE related exam preparation materials. We sell mock question banks for HKSI LE Papers 1, 2, 3, 5, 6, 7, 8, 9, 12 in Chinese and English; and bibles for HKSI LE Papers 1, 2, 6, 7, 8 in Chinese. We also offer 1 on 1 tutorial services. Besides, we have also made free tutorial videos for HKSI LE Papers 1, 2, 6, 7, 8, 12 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
Can a Masters degree graduate in Management, literature subjects graduate, top up degree graduate in finance and law or associate degree holder waive some of the HKSI LE securities exam papers?
Earlier we shared that there are some circumstances where students who wish to join the industry as securities practitioners can possibly be exempted from certain exams based on their academic qualifications and/or work experience. If you meet certain academic and/or work experience requirements, students may not have to take HKSI LE Papers 7-12. In other…
How can I verify the identity of past insurance brokers and insurance agents? How to check the insurance intermediary license records expired before September 23, 2019?
Where can I verify the identity of insurance brokers and insurance agents? For information on insurance intermediaries that are still valid after September 23, 2019, or newly applied after that day, you can find them on the public search on the website of Insurance Authority: https://iir.ia.org.hk/#/index The development history of insurance brokers and…
Can a holder of an original SFC type 1 license be a type 4 and the type 9 license R.O.?
Why do fund managers/asset management companies need to obtain a Type 4 license? There is a type 1 regulated activity (Dealing in Securities) license holder who has many years of experience. This person has passed the Paper 6 of the Licensing Examination for Securities and Futures Intermediaries (HKSI LE). Can he become the RO responsible…
What is the difference between an insurance agent and an insurance broker?
Isn’t every business that sells insurance policies called an insurance company? Can an insurance broker mean both an individual and a company? What are the main differences between insurance brokers and insurance agents? An insurance broker (Broker) selects suitable insurance products on behalf of the client. It can refer to an individual or a company.…
What is the difference between a licensed corporation and a registered institution?
Which licensing exam should a bank staff patake in? Is it regulated by the SFC or HKMA? What does it mean by the commonly mentioned term “SFC license”? The Securities and Futures Commission, also known as SFC, is the statutory regulator of the securities industry in Hong Kong.The Securities and Futures Commission was established…
What is the difference between an estate agent and a real estate salesperson?
Should I take EAQE or SQE to get into the real estate industry? The EAQE/SQE real estate examination result itself does not mean a license Passing the EAQE/SQE exam is just one of the conditions for applying for a license. Passing the exam does not mean obtaining a license, nor can you start your real…
How long is the validity period of the EAQE/SQE license?
Do I need to renew my license every year? Where should I apply for a license renewal? Huh? Isn’t the EAQE/SQE test result a license?! Passing the EAQE or SQE is one of the licensing conditions for obtaining a real estate agent/salesperson license. The EAQE and SQE exams are held by the Institute of Professional…
How long is the IA license valid for?
Do I need to renew my license every year? Where should I apply for a license renewal? Isn’t the IIQE exam score a license?! Obtaining passing results in the IIQE (Insurance Intermediaries Qualifying Examination) held by the Institute of Professional Education and Knowledge (VTC PEAK) is one of the requirements for applying for an insurance…
How long is the SFC license valid for?
Do I need to renew my license every year? Where should I apply for renewal? Will the SFC license become invalid? We often hear people mention the 178 license. What does that mean exactly? In fact, “178 license” is a common misnomer. 178 does not refer to a license, but a combination of exam papers…
What is an IIQE license?
How to register for the exam? How to prepare? Isn’t the IIQE test score a license?! Obtaining a passing score in the IIQE (Insurance Intermediaries Qualifying Examination) held by the Institute of Professional Education and Knowledge (VTC PEAK) is one of the requirements for applying for an insurance practitioner license. Since PEAK is a statutory…