Pass Rate for the Licensing Examination for Securities and Futures Intermediaries
(For Reference Only)
 

Paper 1 Paper 2 Paper 3 Paper 5 Paper 6 Paper 7 Paper 8 Paper 9 Paper 11 Paper 12 August 2009 59.38% 43.55% 40.91% 53.85% 85.29% 47.68% 58.41% 23.65% 68.75% 48.15% September 2009 57.84% 62.83% 73.91% 60.87% 86.27% 45.36% 30.54% 31.03% 88.89% 58.33% October 2009 58.13% 75.86% 71.43% 63.16% 78.00% 53.46% 57.67% 42.28% 92.31% 48.48% November 2009 55.44% 62.35% 77.27% 72.73% 83.33% 61.63% 45.30% 36.36% 83.33% 64.71% December 2009 55.33% 69.88% 90.00% 55.56% 68.63% 43.86% 53.69% 47.42% 90.00% 62.86% January 2010 53.81% 65.00% 69.57% 70.00% 85.71% 57.67% 38.97% 44.71% 88.89% 56.67% February 2010 51.58% 75.68% 84.21% 70.59% 76.79% 46.36% 47.26% 45.54% 38.46% 31.25% March 2010 53.00% 71.64% 72.41% 63.16% 75.00% 53.03% 52.76% 37.93% 50.00% 77.42% April 2010 55.90% 64.08% 66.67% 76.92% 67.24% 49.26% 39.61% 30.83% 85.00% 62.96% May 2010 53.95% 69.57% 81.82% 68.75% 83.61% 44.16% 47.00% 40.66% 89.47% 53.85% June 2010 58.95% 62.93% 86.67% 75.00% 67.57% 53.35% 41.10% 50.00% 68.42% 65.96% July 2010 60.34% 63.92% 80.77% -Note1 76.67% 50.60% 50.00% 31.78% 25.00% 46.88% Average Pass Rate 56.14% 65.61% 74.64% 66.42% 77.84% 50.53% 46.86% 38.52% 72.38% 56.46%

 
Remarks:

	Regulatory Papers		Practical Papers
Paper 1	Fundamentals of Securities and Futures Regulation	Paper 7	Financial Markets
Paper 2	Regulation of Securities	Paper 8	Securities
Paper 3	Regulation of Derivatives	Paper 9	Derivatives
Paper 5	Regulation of Corporate Finance	Paper 11	Corporate Finance
Paper 6	Regulation of Asset Management	Paper 12	Asset Management

For papers with more than one examination sessions held in a month, the pass rates shown above are the average pass rates of those examination sessions held within the month.

Note 1 : Paper 5 scheduled on 28 July 2010 was cancelled due to the issuing of the black rainstorm warning signal.