100+ Free HKSI Paper 5 Practice Questions
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Key Facts: HKSI Paper 5 Exam
40 questions
HKSI Paper 5 is a 40-question multiple-choice examination
HKSI Institute - Licensing Examination overview
60 minutes
Time limit for the HKSI Paper 5 examination
HKSI Institute - Licensing Examination overview
70%
Pass mark for every paper of the HKSI Licensing Examination
HKSI Institute - Licensing Examination overview
Type 6
Paper 5 supports licensing for advising on corporate finance under the SFO
HKSI Institute - Licensing Examination overview
HKD1,930
Examination fee at the Hong Kong Examination Centre or by remote examination
HKSI Institute - Licensing Examination overview
4 topics
Regulatory structure, SEHK listing, takeovers and buy-backs, and miscellaneous
HKSI Institute - Paper 5 syllabus
Monthly
Paper 5 is offered on a monthly examination schedule
HKSI Institute - Licensing Examination overview
100
Free original practice questions provided here
OpenExamPrep
HKSI Paper 5, Regulation of Corporate Finance, is a local regulatory framework paper of the Hong Kong Securities and Investment Institute Licensing Examination, required for the SFC Type 6 regulated activity of advising on corporate finance. It has 40 multiple-choice questions, a 60-minute time limit and a 70% pass mark, and is offered monthly at a fee of HKD1,930 in Hong Kong or HKD2,350 at global centres. The syllabus has four topics: the legal and regulatory structure and code of conduct; listing on the SEHK; takeovers, mergers and share buy-backs; and miscellaneous corporate finance matters. Core subject matter includes the SFO and Type 6 regime, the SEHK Listing Rules, the duties of sponsors and compliance advisers, the Takeovers Code and the Codes on Share Buy-backs, and conduct and conflict-of-interest requirements. This 100-question bank provides original practice across all four topics with full explanations.
Sample HKSI Paper 5 Practice Questions
Try these sample questions to test your HKSI Paper 5 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Under the Securities and Futures Ordinance (SFO), which regulated activity covers a firm that advises a listed company on complying with the Takeovers Code and the Listing Rules in connection with a takeover offer?
2Which statutory body is the principal regulator of the securities and futures markets in Hong Kong and administers the Securities and Futures Ordinance?
3The Codes on Takeovers and Mergers and Share Buy-backs are administered and enforced by which body?
4Which of the following best describes the legal status of the Codes on Takeovers and Mergers and Share Buy-backs?
5A corporate finance adviser learns price-sensitive information about a client's proposed takeover and personally buys shares in the target before the announcement. Which conduct concern does this most directly raise?
6Which ordinance now contains the prospectus provisions governing offers of shares and debentures to the public in Hong Kong following the commencement of the new Companies Ordinance?
7What is the main purpose of the dual-filing regime under which a listing applicant files its application both with the SEHK and the SFC?
8Under the General Principles of the Code on Takeovers and Mergers, all shareholders of the same class of the offeree company must be:
9A licensed corporation acts for both the offeror and the offeree company in the same takeover. Under the Code of Conduct and Takeovers Code conflict requirements, the firm should normally:
10Which body operates the Main Board and GEM and administers the Listing Rules in Hong Kong?
About the HKSI Paper 5 Exam
HKSI Licensing Examination Paper 5, Regulation of Corporate Finance, is one of the local regulatory framework papers in the Licensing Examination for Securities and Futures Intermediaries administered by the Hong Kong Securities and Investment Institute. It is required as part of the Securities and Futures Commission competence requirements for individuals, in particular Responsible Officers, seeking to carry on Type 6 regulated activity, advising on corporate finance. The paper tests the regulatory framework that governs corporate finance advisory work in Hong Kong: the Securities and Futures Ordinance and the Type 6 regime, the SEHK Listing Rules and the roles of sponsors and compliance advisers, the Codes on Takeovers and Mergers and Share Buy-backs, and conduct, conflicts and disclosure requirements. The examination is computer-based with 40 multiple-choice questions in 60 minutes and a 70% pass mark.
Assessment
40 multiple-choice questions covering four syllabus topics: the legal and regulatory structure and code of conduct; listing on the SEHK; takeovers, mergers and share buy-backs; and miscellaneous corporate finance matters.
Time Limit
60 minutes.
Passing Score
70%, the standard pass mark for every paper of the Licensing Examination.
Exam Fee
HKD1,930 per attempt at the Hong Kong Examination Centre or by remote examination; HKD2,350 at Global Examination Centres. (Hong Kong Securities and Investment Institute (HKSI Institute))
HKSI Paper 5 Exam Content Outline
Legal and regulatory structure and code of conduct
The regulatory roles of the SFC, HKEX and SEHK; the Securities and Futures Ordinance and the Type 6 regulated activity of advising on corporate finance; the Companies Ordinance and the Companies (Winding Up and Miscellaneous Provisions) Ordinance; the Code of Conduct and conflict-of-interest requirements; corporate governance; and the character of the Hong Kong IPO market.
Listing on the SEHK
Roles and responsibilities of the SEHK and listed issuers; the duties of sponsors and compliance advisers and the dual-filing regime; methods of listing, listing procedures and listing criteria for Main Board and GEM; prospectus content and vetting; underwriting and syndication in an IPO; continuing obligations and disclosure of inside information; and trading halt, suspension, cancellation and disciplinary proceedings.
Takeovers, mergers and share buy-backs
The purpose and general principles of the Codes on Takeovers and Mergers and Share Buy-backs; mandatory and voluntary offers and the 30% mandatory offer trigger; the role of the Takeovers Executive and the Takeovers and Mergers Panel; independent board committees and independent financial advisers; schemes of arrangement; and on-market and off-market share buy-backs.
Miscellaneous corporate finance matters
Convertible bonds; rights issues and open offers and the pre-emption and disclosure rules that apply to them; share options and share option schemes under the Listing Rules; capital reductions and variations of capital; and related corporate finance instruments and transactions.
How to Pass the HKSI Paper 5 Exam
What You Need to Know
- Passing score: 70%, the standard pass mark for every paper of the Licensing Examination.
- Assessment: 40 multiple-choice questions covering four syllabus topics: the legal and regulatory structure and code of conduct; listing on the SEHK; takeovers, mergers and share buy-backs; and miscellaneous corporate finance matters.
- Time limit: 60 minutes.
- Exam fee: HKD1,930 per attempt at the Hong Kong Examination Centre or by remote examination; HKD2,350 at Global Examination Centres.
Keys to Passing
- Complete 500+ practice questions
- Score 80%+ consistently before scheduling
- Focus on highest-weighted sections
- Use our AI tutor for tough concepts
HKSI Paper 5 Study Tips from Top Performers
Frequently Asked Questions
How many questions are on HKSI Paper 5 and how long is it?
HKSI Paper 5, Regulation of Corporate Finance, has 40 multiple-choice questions and a time limit of 60 minutes. It is a computer-based examination.
What is the pass mark for HKSI Paper 5?
The pass mark is 70%, which is the standard pass mark across every paper of the HKSI Licensing Examination for Securities and Futures Intermediaries.
Which SFC regulated activity does Paper 5 relate to?
Paper 5 is a local regulatory framework paper for Type 6 regulated activity, advising on corporate finance. It is required in particular for Responsible Officers carrying on Type 6 activity under the SFC competence requirements.
How much does HKSI Paper 5 cost?
The examination fee is HKD1,930 per attempt at the Hong Kong Examination Centre or by remote examination, and HKD2,350 at Global Examination Centres. Fees are set by the HKSI Institute and may change.
What topics does Paper 5 cover?
The syllabus has four topics: the legal and regulatory structure and code of conduct; listing on the SEHK; takeovers, mergers and share buy-backs; and miscellaneous corporate finance matters such as convertible bonds, rights issues and share options.
Are these official HKSI Institute questions?
No. These are original OpenExamPrep practice questions modelled on the published Paper 5 syllabus and the SFC and HKEX rule framework. The HKSI Institute publishes its own study manual and syllabus separately.