The Securities Industry Qualification Examination: How Do I Take It and How Do I Get My License?

Professionals engaged in securities business in securities companies, fund management companies, fund custodians, fund sales institutions, securities investment advisory institutions, securities credit assessment institutions and other institutions engaged in securities business as determined by the CSRC must obtain a practising certificate on the basis of their qualifications to engage in the corresponding securities activities. The licensing exam can be the starting point of a career.

What is tested on the securities qualification exam? How do I take the test?

The Securities Industry Qualification Examination test is divided into three categories: general qualification examination, special business class qualification examination and management class qualification examination.

The General Qualification Examination, or "Entry Qualification Examination", is mainly for those who are about to enter the securities industry, and specifically tests whether the candidates have the basic professional knowledge required for practicing as securities practitioners and whether they have mastered the basic securities laws and regulations and professional ethics requirements.

The special business qualification examination, or "professional qualification examination", is mainly for those who have already entered the securities industry and tests whether the candidates have the necessary professional knowledge, skills and conduct to perform their statutory duties as professionals engaged in securities business.

The Management Qualification Examination, or the "Management Qualification Test", is intended for senior managers of proposed securities management institutions and tests whether candidates have mastered the management processes and management standards necessary to perform management duties in securities management institutions.

Two subjects are set for the entrance qualification examination, entitled "Basic Laws and Regulations of Securities Market" and "Basic Knowledge of Financial Market".

There is one examination subject for each professional qualification. The examination subjects for the Competence Examination for Sponsor Representative, Competence Examination for Securities Analyst and Competence Examination for Securities Investment Adviser correspond to "Investment Banking", "Business of Issuing Securities Research Reports" and "Business of Securities Investment Adviser" respectively.

There will be one examination subject for each management qualification test, namely, "Qualification Test for Senior Managers of Securities Firms", "Qualification Test for Senior Managers of Securities Rating Business" and "Competence Test for Compliance Managers of Securities Firms".

2022 Exam Time :

Continuing education: The main contents include laws and regulations, codes of practice, business knowledge and professional skills, etc. Practitioners should attend no less than 15 hours of follow-up vocational training each year, of which no less than 10 hours are compulsory.

Learning channels: 1. Attend the various face-to-face training courses held by the Securities Industry Association 2. Attend the distance training system of the Securities Industry Association, which can be found at http://training.sac.net.cn/cms 3. Attend the training organized by the members and other professional training institutions (relevant laws and regulations, professional knowledge, etc.).

Attention! Passing the exam is not a "no-brainer"! Individuals print their own certificates of passing grades; you can only get a license to practice if you apply through your provider company. Obtaining a certificate of satisfactory performance on the general licensing examination, but not working or affiliated with the securities industry, does not require an annual examination. The certificate is valid for two years, and if you return to the securities industry for more than two years, you need to reapply for the certificate; if you do not practice in the institution for three consecutive years, the association will cancel your certificate.

Enrollment Portal  Online Registration for the Securities Practitioner Qualifying Examination (www.sac.net.cn)