Certified Private Wealth Professional (CPWP) Module 1 Examination
A Task Force chaired by the Hong Kong Monetary Authority (HKMA) and comprises representatives from Private Wealth Management Association (PWMA), the Hong Kong Institute of Bankers (HKIB) , Hong Kong Securities and Investment Institute (HKSI Institute) and Treasury Markets Association (TMA) developed the Enhanced Competency Framework (ECF) for private wealth management (PWM) practitioners to ensure individuals engaged in providing services to PWM customers have an enhanced level of competency in the technical and ethics and compliance areas.
Under the ECF, two competency-related modules, Module 1 on Technical, Industry and Product Knowledge and Module 2 on Ethics and Compliance, are developed to set the standard for PWM practitioners. The HKSI Institute is responsible for Module 1 of the Certified Private Wealth Professional (CPWP) including both training programme and examination.
Examination Question Language: English and Chinese (both Traditional and Simplified characters)
Pass Mark: 70% for each paper
Paper 1
Format: Multiple-choice Questions (MCQ)
Number of questions: 40 multiple choice questions
Duration: 80 minutes
Mode: Computer-based Examination (CBE)
Examination System and Interface Language: Examination System Simulator; English
Examination Venue: Hong Kong Examination Centre (Examination Day Flow)
Frequency: Monthly #
Examination Fees: HKD1,680
Paper 2
Format: Multiple-choice Questions (MCQ) and structured question*
Number of questions and Proportion: 20 multiple choice questions (50%) and 1 structured question* (50%)
Duration: 100 minutes
Mode: Paper-based Examination (PBE)
Examination Venue: Refer to Admission Form, accessible three working days prior to the examination on the Online Portal. (Paper-based Examination Day Flow)
Frequency: Every Six Weeks#
Examination Fees: HKD2,760
Please download the Examination Syllabus.
Each examination paper is constructed from a specification that defines a set of parameters, including the weighting of each element/topic as shown below.
- Basic Products: Fixed Income Investment, Equity Securities and Foreign Exchange - 20%
- Derivatives and Structured Products - 15%
- Investment Funds and Alternative Investments - 15%
- Portfolio Management: Theories and Practices - 30%
- Lending and Leverage - 20%
- Wealth Planning - 25%
- Behavioural Finance - 15%
- Customer Relationship Management - 30%
- Overview of Private Wealth Management Industry - 15%
- Overview of Private Wealth Management Markets: Hong Kong, Mainland China and Asia-Pacific - 15%
* Structured question contains a scenario case and several open-end questions that requires candidates to apply and integrate knowledge and skills from different areas of the PWM.
# For the examination dates and application deadlines, please click here. Please note that enrolment is on a first-come-first-served basis. The number of examination sessions may be increased as needed to meet demand.
To help candidates prepare for the examination, the HKSI Institute offers Study Guides in both English and Chinese (traditional and simplified characters) for Paper 1 covering Topics 1 - 5 and Paper 2 covering Topics 6 -9. Candidates enrolling for the examination can download the respective eStudy Guide for free via the "Examination" page under "UPCOMING ACTIVITY" tab of the HKSI Institute Online Portal/"Downloads" tab of the "Menu" of the HKSI Institute Mobile from the enrolment date until the examination date.
Resources for Topic 10
PWMA offers training as an on-going study support which has been converted into eSeminars. The training is available for candidates to view via the "CPT/Non-CPT Activity" page under "UPCOMING ACTIVITY" tab of the HKSI Institute Online Portal or "My eCourses" tab of the "Menu" of the HKSI Institute Mobile.
Revision Tools
The HKSI Institute has developed the Guidelines for Examination Preparation and Sample Practice Test to assist candidates who are preparing to take the CPWP Module 1 Examination.
A taped sharing session to assist candidates in their preparation for Paper 2 examination, especially on how to approach structured questions, is available on the "CPT/Non-CPT Activity" page under the "UPCOMING ACTIVITY" of the HKSI Institute Online Portal or "My eCourses" tab of the "Menu" of the HKSI Institute Mobile.
Both the e-Seminar and sharing session will be accessible from the day after enrolment for up to 90 days.
The HKSI Institute offers CPWP Module 1 Training Programme to help candidates enhance their understanding of important knowledge base and practical skills on the topics to be examined.
To cater for the needs of other interested parties, the eStudy Guides are available for purchase online at HKD550 per copy.
CPWP holders with three years relevant industry experience may apply for Ordinary Membership of the HKSI Institute.
Candidates who have completed Papers 1 and 2 of the CPWP Module 1 Examination will also need to fulfil the following requirements before they are awarded the CPWP Certification by the PWMA:
- Complete CPWP Module 2 Examination conducted by the Hong Kong Institute of Bankers; and
- Currently employed by a PWMA member institution with at least three years of work experience performing the prescribed functions and roles of a Relevant Practitioner* within a private wealth management institution in the most recent five years (Individuals who are not employed by a PWMA member institution and/or have not met the experience requirement are eligible to apply for CPWPA certification).
* "Relevant Practitioners” is defined as new entrants and existing PWM industry practitioners engaged by PWM institutions in customer-facing roles making personalised or customised solicitations or recommendations to customers in the provision of securities dealing and advisory service and/or portfolio management service.
The result of each examination paper for both Module 1 and Module 2 is only valid for five years (counting from the date of the examination) for the purpose of applying for CPWP certification. For details of the requirement for CPWP Certification, please refer to the PWMA website
Before enrolling for the examination, you must read and understand all the policies set by the HKSI Institute. During the enrolment process, all candidates are required to agree to abide by these policies, which are updated periodically.
You can find frequently asked questions about an examination below or click here for other questions.
- I noticed that the current examination system interface is in English, but I selected Traditional Chinese as my system interface language before 24 April 2025. Can I still use Traditional Chinese?
- Why are some examination sessions visible on the HKSI Institute's Examination Schedule but not in the scheduling platform, ProScheduler?
- Why can I only choose the examination sessions within the two weeks shown in ProScheduler?
- Why are examination session not displayed for scheduling on ProScheduler even though it hasn't reached the scheduling deadline hasn’t passed?
- Who should I contact if I encounter issues while scheduling or rescheduling an examination session through the "ProScheduler" platform?
- What are the key points to keep in mind on the examination date?
- On the examination day, if I am unable to attend, can I request a reschedule or a refund?
- How can I get my Notification of Results?