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.

Relevant Practitioners* will be certified by the PWMA as Certified Private Wealth Professional (CPWP), when they have successfully completed the programme and examination requirements under the ECF and have the prerequisite work experience.

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.

* "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.

Prerequisites

There are no prerequisites for enrolling in the CPWP Module 1 Examination.

Examination Details and Fee

Examination Syllabus and Specification

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.

Topics

Weighting

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%

Total

100%

Examination Structure and Fee

Candidates are required to answer all questions in each paper.

Examination

Examination Mode

No. of Questions

Proportion

Duration

Pass Mark

Frequency

Examination Fees
(Notes 3, 4)

Paper 1: Financial Instruments

Computer-based

40 MCQs
(note 1)

100%

80 mins

70%

Monthly

HK$1,500

Paper 2: Wealth Management

 

Paper-based

20 MCQs +

1 structured question
(note 2)

50% + 50%

100 mins

70%

Quarterly

HK$2,500

 

The study manuals are offered in English and will be offered the Chinese version no earlier than the 3rd quarter of 2021.

The examination papers are offered in English. Examination in Chinese language will be available from 26 May 2021 onwards.

Note 1: Multiple-choice questions (MCQs) contain a stem and four answer choices including only one correct answer.

Note 2: 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.

Note 3: Study manual for relevant examination is included.

Note 4: Package price is offered to applicants who enrol for the relevant eCourse AND examination at the same time. Please refer to the HKSI Institute website for details .

Withdrawal Policy

Candidates who wish to cancel their enrolments for (an) examination paper(s), examination mode(s) and/or examination sessions(s) may apply for withdrawal of examination. Only the examination fees less an administration fee for the CPWP Module 1 Examination are refundable.

To apply for a withdrawal, candidates should submit withdrawal applications through the HKSI Institute Online Portal, in person or by post to the HKSI Institute on or before the withdrawal application deadline (i.e., the date of receipt of the Withdrawal Application Form by the HKSI Institute).  For the latest withdrawal application deadlines, please refer to the examination timetable.

The HKSI Institute will charge a withdrawal administration fee of HK$400 per examination paper per examination mode per examination session.  For details of the Withdrawal Policy, please refer to the relevant Examination Handbook.

Study Support

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.

Requirements for CPWP Certification

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 3 years of work experience performing the prescribed functions and roles of a Relevant Practitioner within a private wealth management institution in the most recent 5 years.

The result of each examination paper for both Module 1 and Module 2 is only valid for 5 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.

CPWP holders with 3 years relevant industry experience may apply for Ordinary Membership of the HKSI Institute.

Qualification
Please choose the language
ENG