100+ Free HKIB ECF-RWM Core Practice Questions
Pass your HKIB Enhanced Competency Framework on Retail Wealth Management (ARWP/CRWP) Examination exam on the first try — instant access, no signup required.
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Key Facts: HKIB ECF-RWM Core Exam
70%
Pass mark for Core Level Modules 1 to 4 (Professional Level Modules 5 to 7: 60% after Aug 2025)
HKIB ECF-RWM Programme Handbook (2026)
80 MCQs
Examination format for Modules 1 to 6
HKIB ECF-RWM Programme Handbook
2.5 hours
Examination time limit for Modules 1 to 6
HKIB ECF-RWM Programme Handbook
HKD4,500
Training fee per module (Modules 1 to 7)
HKIB ECF-RWM Programme Handbook / hkib.org
HKD1,300
Examination fee per module for Modules 1 to 6
HKIB ECF-RWM Programme Handbook (2026)
HKD1,900
Examination fee for Module 7 (Part A HKD600 + Part B HKD1,300)
HKIB ECF-RWM Programme Handbook (2026)
QF Level 4
Qualifications Framework Level for ARWP (Core Level)
Hong Kong Qualifications Register (QR)
QF Level 5
Qualifications Framework Level for CRWP (Professional Level)
Hong Kong Qualifications Register (QR)
100
Free practice questions in this bank covering all modules
OpenExamPrep
HKIB ECF-RWM Core Level (Modules 1–4) has a 70% pass mark. Professional Level (Modules 5–7) has a 60% pass mark for exams after 1 August 2025. Modules 1–6 feature 80 MCQs in 2.5 hours (HKD1,300 exam fee per module); Module 7 involves Part A (40 MCQs), Part B case study proposal writing (2 hr 15 min), and oral presentation (15 minutes). Successful completion of Modules 1–4 leads to ARWP, and Modules 1–7 leads to CRWP.
Sample HKIB ECF-RWM Core Practice Questions
Try these sample questions to test your HKIB ECF-RWM Core exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Which of the following activities requires a Type 4 regulated activity license from the Securities and Futures Commission (SFC) in Hong Kong?
2Under the Code of Banking Practice, how much notice must an Authorized Institution (AI) give to customers before making any significant changes to terms and conditions?
3Which of the following is the primary regulator responsible for supervising the safety, stability, and deposit-taking activities of banking institutions in Hong Kong?
4To carry on Mandatory Provident Fund (MPF) regulated activities in Hong Kong, a practitioner must be registered as an intermediary with which body?
5Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), what is the threshold for a customer due diligence (CDD) check on an occasional transaction that is not a wire transfer?
6Under the Securities and Futures (Professional Investor) Rules, what is the minimum portfolio threshold for an individual to qualify as an individual professional investor in Hong Kong?
7An employee of an Authorized Institution (AI) who conducts regulated activities under the Securities and Futures Ordinance (SFO) must be registered with the HKMA as a:
8Under the SFC Code of Conduct, when a licensed or registered person makes a recommendation to a client, which of the following is NOT a requirement for the suitability assessment?
9Under the Banking Ordinance, what are the three tiers of Authorized Institutions (AIs) in Hong Kong?
10According to general business ethics and regulatory guidelines, which of the following is true regarding the acceptance of gifts or benefits by a bank employee from a wealth management client?
About the HKIB ECF-RWM Core Exam
The HKIB ECF on Retail Wealth Management (RWM) is the QF Level 4 (Core) and Level 5 (Professional) pathway for wealth management practitioners in Hong Kong. Core Level completion (Modules 1–4) leads to the Associate Retail Wealth Professional (ARWP) designation. Professional Level completion (Modules 1–7) and 2 years of relevant experience lead to the Certified Retail Wealth Professional (CRWP) designation. Each module is assessed separately, with a pass mark of 70%. Candidates must complete training before registering for exams. This free 100-question practice bank covers all 7 modules, including regulatory environment, investment planning, bank operations, insurance, asset management, and financial planning.
Assessment
Per-module paper-based multiple-choice examinations in English. Modules 1–6: 80 MCQs / 2.5 hours each. Module 7: Part A (40 MCQs, 1 hr 15 min); Part B case study writing (2 hr 15 min) and oral presentation (15 minutes). Passing mark is 70% for Modules 1–4 and 60% for Modules 5–7 (for exams after 1 August 2025).
Time Limit
Modules 1–6: 2.5 hours each; Module 7: Part A 1 hr 15 min + Part B Writing 2 hr 15 min + Oral Presentation 15 minutes.
Passing Score
70% for Modules 1–4 (Core Level); 60% for Modules 5–7 (Professional Level, for exams after 1 August 2025).
Exam Fee
Training fee HKD4,500 per module. Examination fees HKD1,300 per module for Modules 1–6, and HKD1,900 for Module 7 (Part A HKD600 + Part B HKD1,300). HKIB student members receive 50% off exam fees. (Hong Kong Institute of Bankers (HKIB))
HKIB ECF-RWM Core Exam Content Outline
Module 1: Regulatory Environment for Banking and Financial Planning
Regulatory framework of the financial services sector in Hong Kong, HKMA, SFC, IA, MPFA, code of banking practice, and client protection rules.
Module 2: Investment Planning
Investment products, portfolio theories, risk and return, global financial markets, economic indicators, and investment advising regulatory constraints.
Module 3: Essentials of Banking
Overview of financial systems, bank operations, risk management, credit risk, liquidity risk, retail banking services, and green finance/sustainability.
Module 4: Insurance and Retirement Planning
Insurance principles, product features, life/medical/general insurance, MPF system, retirement needs analysis, and estate planning.
Module 5: Investment and Asset Management: Product Solutions
Fixed income securities, equity valuation, mutual funds, exchange-traded funds, derivative instruments, and structured products.
Module 6: Investment and Asset Management: Alternatives and Wealth Solutions
Alternative investments, hedge funds, private equity, real estate, wealth solutions for high-net-worth individuals, and tax planning.
Module 7: Financial Planning and Wealth Management
Client discovery, profiling, needs analysis, constructing comprehensive wealth management proposals, case studies, and professional ethics.
How to Pass the HKIB ECF-RWM Core Exam
What You Need to Know
- Passing score: 70% for Modules 1–4 (Core Level); 60% for Modules 5–7 (Professional Level, for exams after 1 August 2025).
- Assessment: Per-module paper-based multiple-choice examinations in English. Modules 1–6: 80 MCQs / 2.5 hours each. Module 7: Part A (40 MCQs, 1 hr 15 min); Part B case study writing (2 hr 15 min) and oral presentation (15 minutes). Passing mark is 70% for Modules 1–4 and 60% for Modules 5–7 (for exams after 1 August 2025).
- Time limit: Modules 1–6: 2.5 hours each; Module 7: Part A 1 hr 15 min + Part B Writing 2 hr 15 min + Oral Presentation 15 minutes.
- Exam fee: Training fee HKD4,500 per module. Examination fees HKD1,300 per module for Modules 1–6, and HKD1,900 for Module 7 (Part A HKD600 + Part B HKD1,300). HKIB student members receive 50% off exam fees.
Keys to Passing
- Complete 500+ practice questions
- Score 80%+ consistently before scheduling
- Focus on highest-weighted sections
- Use our AI tutor for tough concepts
HKIB ECF-RWM Core Study Tips from Top Performers
Frequently Asked Questions
What is the pass mark for HKIB ECF-RWM examinations?
The passing mark is 70% for Modules 1 to 4 (Core Level). For Modules 5 to 7 (Professional Level), the pass mark is 60% for exams held after 1 August 2025. Core Level grade bands include Pass (70–79%), Pass with Credit (80–89%), and Pass with Distinction (90% and above).
How many questions are on each module examination?
Modules 1 to 6 examinations each consist of 80 multiple-choice questions (MCQs) in English. Module 7 contains a Part A MCQ component (40 MCQs in 1 hr 15 min), and a Part B case-study financial planning proposal writing exam (2 hr 15 min) and oral presentation (15 minutes).
What are the fees for training and examinations?
Training fees are HKD4,500 per module (including digital materials; optional print materials cost HKD600). Examination fees are HKD1,300 per module for Modules 1 to 6, and HKD1,900 for Module 7 (Part A HKD600 plus Part B HKD1,300). HKIB student members receive a 25% discount on training and 50% discount on exam fees.
What is the difference between ARWP and CRWP?
Associate Retail Wealth Professional (ARWP) is the Core Level qualification, requiring candidates to complete training and pass exams for Modules 1 to 4. Certified Retail Wealth Professional (CRWP) is the Professional Level qualification, requiring candidates to complete training and exams for all Modules 1 to 7, plus at least 2 years of relevant work experience in retail wealth management.
Are there any training prerequisites before sitting the exams?
Yes. Candidates must attend and complete the training classes for a module before they are allowed to sit the respective examination.
Can I get exemptions for any modules?
Yes, candidates who hold relevant professional qualifications (such as SFC licensing exams or IIQE papers) may apply for exemptions for Modules 1, 2, and 4. A non-refundable application fee of HKD200 applies, plus an exemption fee of HKD1,000 per module.
Are these official HKIB examination questions?
No. These are original practice questions created by OpenExamPrep, modeled on the ECF-RWM syllabus and handbook to help candidates study.