Exam Structure

The LE consists of fourteen papers. There are two modes of examination for LE Papers i.e., Computer-based Examination (CBE) and Paper-based Examination (PBE).

All examination papers will be offered in both English and Chinese, and examination questions will be set in a multiple-choice (MC) format.

LE papers are offered on a monthly basis except for Paper 4, Paper 10 and Paper 15. The LEs for Papers 4 and 10 are conducted on a quarterly basis, usually in March, June, September and December. The LEs for Paper 15 is conducted on a bimonthly basis, usually in January, March, May, July, September and November. However, the number of examination sessions may be increased to meet demand, if necessary. For the latest examination dates and enrolment deadlines, please refer to the examination timetables available at the HKSI Institute counter and/or on its website.

 

Examination Papers No. of MC Questions Duration (minutes) Passing Mark Examination Fees
Regulatory Papers
Paper 1 Fundamentals of Securities and Futures Regulation 60 90 70% HK$1,155
Paper 2 Regulation of Securities 40 60 70% HK$1,310
Paper 3 Regulation of Derivatives 40 60 70% HK$1,310
Paper 4 Regulation of Credit Rating Services 40 60 70% HK$1,310
Paper 5 Regulation of Corporate Finance 40 60 70% HK$1,310
Paper 6 Regulation of Asset Management 40 60 70% HK$1,310
Practical Papers
Paper 7 Financial Markets 60 90 70% HK$925
Paper 8 Securities 40 60 70% HK$925
Paper 9 Derivatives 40 60 70% HK$925
Paper 10 Credit Rating Services 40 60 70% HK$925
Paper 11 Corporate Finance 40 90 70% HK$925
Paper 12 Asset Management 40 60 70% HK$925
Sponsors Papers
Paper 15 Sponsors (Principals) 40 60 70% HK$1,310
Paper 16 Sponsors (Representatives) 40 60 70% HK$1,310

* The LE does not comprise Paper 13 and Paper 14.