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
Minimum academic requirements for applying for a SFC license
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?
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?
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?
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?
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?
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?
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?
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?
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…
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…