Please
refer to http://www.hksi.org/eng/exam/le_pass_rate.html
for the pass rates of each LE Paper.
9. What
kind of materials should I study to prepare for
the LE? Are there any reference books / suggested
study materials for the LE?
To
assist candidates to prepare for the LE, the HKSI
has published 10 Study Manuals (Chinese and English
versions) and Sample Question Booklets for LE
Papers 1, 2, 6, 7, 8 and 9 (Chinese and English
versions), which are available for sale at the
HKSI office. All Sample Question Booklets
are available for free downloading at:
http://www.hksi.org/eng/exam/le_prep_qbooklets.html
While
the HKSI specifically developed these Study Manuals
and Sample Question Booklets based on the syllabuses
of the 10 LE Papers, we do not discourage candidates
from utilising any other reference materials or
resources that can help prepare them for the LE.
10.
When will the LE results be released?
Candidates
of the LE can access their grades, actual examination
scores and individual performance analyses online
8 full working days after the date of each examination.
A Notification of Results, showing the grade and
the actual examination score(s), will also be
sent out to candidates by mail within 14 full
working days after the examination.
11. Can a pass in LE Papers 1, 7 and 8 guarantee
the candidates a job offer in the industry?
The LE has been recognised by the SFC under the
“Guidelines on Competence” for registration as
Representatives and/or Responsible Officers.
The SFC has approved certain papers of the LE
as recognised industry qualifications and local
regulatory framework papers. Please refer
to http://www.hksi.org/eng/exam/le_link_recognition.html
for details.
The completion of LE Papers 1, 7 and 8 fulfils
the Recognised Industry Qualifications and the
Local Regulatory Framework Papers requirements
of the SFC for registration as Representatives
for RA1 - Dealing in Securities, RA 4 - Advising
on Securities, and/or RA 8 - Securities Margin
Financing. Financial firms seeking to employ
personnel to engage in these RAs will appreciate
the “readiness” of a candidate in registering
as a Representative of these RAs.
12.
I
have already passed Papers 1, 7 and 8 and I have
obtained the Practising Certificate in Securities
in July 2006. Will I be able to obtain another
certificate if I pass some other LE papers?
HKSI Specialist Certificate(s) will be awarded
to candidates if they can pass the required additional
LE paper(s) within the 3-year completion period
(please refer to the LE Examination Handbook for details of the
3-year completion period). However, if a
candidate passes the same LE paper(s) within the
3-year completion period, the same certificate
will NOT be issued in this case.
13.
Will I get
an additional certificate if I have passed the
same LE papers for a second time within the 3-year
completion period?
No. Additional certificate of the
same type will be issued to candidates only when
they have completed ALL the LE examination papers
offered by the HKSI within the required 3-year
completion period and have subsequently re-attempted
and passed the required preset combination of
examination papers for the corresponding certificate(s).
In this case, candidates will be given another
3 years to complete the required examination papers.
The new completion period will commence from the
date of the first re-attempted LE paper that the
candidate passes.
14.
I have attempted
and passed the following LE papers, what certificate(s)
will I obtain and when will the 3-year completion
period expire?
Paper 8 on 21 June 2006
Paper 7 on 20 July 2006
Paper 1 on 23 August 2006
Paper 9 on 21 September 2006
According to the existing examination
policy, you will be entitled to a Practising Certificate
in Securities in August 2006 and Practising Certificate
in Derivatives in September 2006. The 3-year
completion period will commence from 21 June 2006,
and will expire on 30 June 2009.
And
will I get a Specialist Certificate in Derivatives
if I pass Paper 3 in August 2009?
The certificate will not be granted to
you as you obtained a pass in Paper 3 after the
3-year completion period, which expired in June
2009.
HKSI Professional Diploma in Financial Markets (PDFM)
1. What
is the PDFM?
The
HKSI Professional Diploma in Financial Markets
(PDFM) has been developed from the HKSI Diploma
Programme Examination (DPE). It aims to set a
standard of competency across the securities and
investment industry and to examine whether individuals
have acquired the knowledge of principles and
practices that apply to their job functions. The
PDFM is a 5-year programme which is modularised
into seven modules (“PDFM Modules”).
2. What
are the main differences between the DPE and the
PDFM?
The
DPE consists of three papers on which candidates
are examined. By breaking down the DPE into seven
different modules, the PDFM enables PDFM Registered
Students (“PDFM Students”) to focus on and study
each subject area in a more systematic manner.
The PDFM is designed to offer a high degree of
flexibility, allowing individuals to pursue the
programme at their own pace and by their preferred
mode of study. The PDFM allows PDFM Students to
select either the Training and Examination
Mode (“TE Mode”) or the Examination-only
Mode (“EO Mode”) for each of the seven PDFM
Modules.
3. What
is the difference between the TE and the EO mode?
PDFM
Students have the option to take either the TE
Mode or the EO Mode for each of the seven PDFM
Modules.
Training
and Examination Mode (“TE Mode”)
For
PDFM Students who have enrolled for a PDFM Module
via the TE Mode, their overall results are determined
based on their performance in both coursework,
which may include assignments, case studies, quizzes,
examinations, etc., and the PDFM Examination.
|
Assessment
|
Percentage
|
|
Coursework of training course
|
30%
|
|
PDFM Examination
|
70%
|
|
Total
|
100%
|
Under
the TE Mode, the seven training courses (“HKU
SPACE training courses”) of the “Hong Kong Securities
Institute Professional Diploma in Financial Markets
Training and Examination Programme”, which is
jointly offered by The School of Professional
and Continuing Education of the University of
Hong Kong (“HKU SPACE”) and the HKSI, are available
for each PDFM Module. For details of the HKU SPACE
training courses and the training timetable, please
contact HKU SPACE on 2867 8322 or visit its website
(http://hkuspace.hku.hk).
Examination-only
Mode (“EO Mode”)
For
PDFM Students who have enrolled for a PDFM Module
via the EO Mode, their overall results are determined
solely (100%) based on their performance in the
PDFM Examination.
Please
refer to Sections 2.7 and 2.8 of the PDFM Programme
Handbook regarding the format, duration and timetable
of the PDFM Examinations.
4. Do
I have to register as an HKSI individual member
before enrolling for the PDFM?
Individuals
are not required to register as an HKSI individual
member before enrolling for the PDFM. However,
they must register with the HKSI as a PDFM Student
before enrolling for any of the PDFM Modules (via
the TE Mode or the EO Mode) for the first time.
Please refer to Section 2.4 of the PDFM Programme
Handbook for details.
5. Are
there any entry requirements for the PDFM?
Yes.
Unlike the DPE, there are specific entry requirements
applicable to the PDFM. Applicants for PDFM registration
must satisfy these entry requirements by demonstrating
either prior relevant knowledge in finance OR
appropriate academic proficiency. Please
refer to Section 2.3 of the PDFM Programme Handbook
for details of the entry requirements.
6. Do
I have to attempt the seven PDFM Modules in a
particular order?
No.
PDFM Students can attempt the PDFM Modules in
any order they desire.
7. What
recognition does the PDFM has?
The
PDFM has been recognised by both local
regulatory bodies/institutions and by international
professional associations/universities, offering
PDFM Students a variety of progression pathways
to further internationally recognised academic/professional
qualifications.
8.
Can
I obtain a licence from the Securities and Futures
Commission (SFC) if I have completed the PDFM?
The
PDFM has been recognised by the SFC as a recognised
qualification in meeting the competence requirements
in respect of Representatives and Responsible
Officers licensed under the Securities and Futures
Ordinance. Modules 1, 2, 3, 6 and 7 are recognised
by the SFC as Recognised Industry Qualifications
and Modules 4 and 5 are recognised as Local Regulatory
Framework Papers. PDFM Students who wish to apply
for a license from the SFC with their PDFM results
should be aware of the 3-year limit for applying
for an SFC license. Please check with the
SFC direct with regard to licensing requirements.
9. Do
I have to pass all seven PDFM Modules in order
to obtain an HKSI certificate?
Yes.
In order to obtain an HKSI Certificate for the
PDFM, PDFM Students must complete all seven PDFM
Modules on or before their PDFM Programme Expiry
Date.
10.
Can
I apply for an exemption from PDFM Modules?
If
PDFM Students possess qualifications that are
recognised by the HKSI, they can apply for an
exemption from PDFM Modules 1, 2 and 3. Applicants
will be reviewed as to whether they can be exempted
from taking the PDFM Examination of PDFM Module
1 and/or 2 and/or 3 on the basis of the possession
of recognised higher qualifications containing
relevant content with respect to each PDFM Module.
Please refer to Section 6 of the PDFM Programme
Handbook for details.
11.
What
qualifications are recognized by the HKSI for
PDFM exemptions?
Exemptions
from the PDFM Examinations are only considered
on the basis of recognised higher qualifications,
which contain relevant content with respect to
PDFM Modules 1and/or 2 and/or 3, and at the discretion
of the HKSI. In general, recognised qualifications
include Bachelor degrees with completion of corresponding
qualifying subjects in Accounting, Statistics,
Economics or Finance as well as various other
professional qualifications.
12.
As
a DPE candidate, is it compulsory for me to convert
to the PDFM?
No.
You can choose to complete the DPE before your
DPE Programme Expiry Date. The DPE and the PDFM
will be offered by the HKSI in parallel for a
period of 3 years from July 2006 until July 2009
after which date the DPE will lapse and will be
replaced solely by the PDFM.
13.
How
do I convert from the DPE to the PDFM?
DPE
Registered Students who have partially completed
the DPE and whose DPE Programme Expiry Date is
still valid have the option to convert to the
PDFM. Any previously completed DPE Papers can
be mapped with the new PDFM Modules as follows:
|
DPE Papers
|
Equivalent PDFM Modules
|
|
Paper 1:
Economics, Financial Markets and
Analytical Tools
|
|
Module 1 — Economics
|
|
Module 2 — Financial Markets and Instruments
|
|
Module 3 — Quantitative Methods and Accounting for
Finance
|
|
Paper 2:
Law, Code and Ethics
|
|
Module 4 — Regulatory Framework: Securities and
Futures Industry
|
|
Module 5 — Corporate Capital, Governance, and
Takeovers
|
|
Paper 3:
Investment Analysis and Portfolio
Management
|
|
Module 6 — Advanced Investment Analysis
|
|
Module 7 — Portfolio Management
|
All
eligible DPE Registered Students who wish to convert
to the PDFM before the relevant DPE Programme
Expiry Date may do so by calling the HKSI PDFM
Hotline at 31206250 to arrange for the signing
of a consent form. No fees will be incurred.
14. As
a current DPE Registered Student, will the duration
of my programme be affected if I choose to convert
to the PDFM?
Upon
successful conversion, you will be given an extra
two years to complete the PDFM, which is a five-year
programme, calculated by reference to your current
DPE Programme Expiry Date. Please refer
to Section 2.9 of the PDFM Programme Handbook
for details.
15.
When
will the PDFM results be released?
A
Notification of Results will normally be issued
to PDFM Registered Students
by mail within 8 weeks after each PDFM examination.
Certified International Investment Analyst
(CIIA®) Final Examination
1. What
is the Certified International Investment Analyst
(CIIA®) qualification and what
is the benefit of this qualification?
The CIIA® is an internationally
recognised advanced professional qualification
for individuals wishing to work/working in the
finance and investment industry.
The examinations
consist of two levels of Common Knowledge Examinations
(i.e. the CIIA®
Foundation Examination
and the CIIA®
Final Examination)
and a National/Regional Examination. The
Common Knowledge Examinations examine the essential
skills and knowledge required for professionals
working in investment markets common in all countries.
The National/Regional Examination is set by individual
national/regional societies and examines knowledge
of specific markets. It covers legal and
regulatory matters, taxation, local market practices
and the cultural environment of the financial
market of each specific country.
Only the CIIA®
Final Examination,
which consists of 2 generic examination papers,
Exam 1 and Exam 2, is offered in Hong Kong by
the HKSI. All eligible candidates enjoy
exemptions from the CIIA®
Foundation and
National Examinations and can proceed directly
to the CIIA® Final Examination.
The CIIA® qualification is
currently recognised and supported by two of the
world's leading Federations EFFAS
and ASAF,
and 26 national/regional societies for finance
and investment professionals from: Argentina,
Austria, Belgium,
Brazil,
China,
Chinese Taipei,
France, Germany,
Greece, Hong
Kong, Hungary,
India, Iran,
Italy, Japan,
Korea, Luxembourg,
Morocco, Netherlands,
Poland,
Russia, Spain,
Sweden,
Switzerland,
Thailand
and Ukraine.
2. Are
there any organisations that recognise the Certified
International Investment Analyst (CIIA®)
qualification?
The CIIA® qualification
is
recognised by both local
regulatory bodies and international professional
associations.
3. Are
there any pre-requisites for taking the CIIA®
Final Examination?
To be eligible for registration as a candidate
of the CIIA® Final Examination,
applicants must meet the requirements of either
the DPE/PDFM Route or the EQC Route, as described
below:
The
DPE / PDFM Route