About the CSC Exams

Quick answer: The Canadian Securities Course (CSC) is the Canadian Securities Institute's foundational securities course. You earn it by passing two proctored exams, each with 100 multiple-choice questions, a 2-hour time limit and a 60% pass mark. Exam 1 covers the marketplace, the economy, fixed income, equities, derivatives and corporate finance; Exam 2 covers investment and portfolio analysis, managed and structured products, taxation and working with clients.

What the CSC Is

The Canadian Securities Course (CSC) is offered by the Canadian Securities Institute (CSI). It gives a broad grounding in Canadian financial markets: how capital is raised and traded, how securities are valued, how portfolios are built, and how advisors work with retail and institutional clients. Many people take it to start a career in banking, wealth management, mutual funds, insurance or financial operations, and it is a prerequisite for further CSI programs such as the Chartered Investment Manager (CIM) and Personal Financial Planner (PFP) designations.

Exam Format (CSI, 2026)

With 100 questions in 120 minutes, you have about 72 seconds per question. Calculation questions take longer, so move quickly through definition questions to bank time.

Topic Weightings

CSI publishes the weight of each topic on each exam. This guide follows the same topic order, so each chapter below matches one weighted topic.

The CSC textbook itself is organized into 27 chapters. This guide groups those chapters under the 17 weighted exam topics, with one section for each major syllabus topic.

The CSC and CIRO's 2026 Proficiency Model

Until the end of 2025, completing the CSC was part of the path to becoming an approved investment dealer representative. On January 1, 2026, the Canadian Investment Regulatory Organization (CIRO) moved to an exam-based proficiency model with its own exams, such as the Canadian Investment Regulatory Exam (CIRE) and the Retail Securities Exam (RSE). CSI states that the CSC is no longer acceptable for the purposes of CIRO approval with an investment dealer. Learners who enrolled under the old rules had a transition window, and CSI grants course extensions only to December 31, 2026.

The CSC remains a current CSI credential that employers recognize. CSI also lists continuing education credits that several professional bodies grant for the CSC exams. Check CSI's site for the current list.

Turning the Weights into a Study Plan

Each exam has 100 questions, so a topic's weight is roughly the number of questions it contributes. Investment Analysis and Portfolio Analysis together supply about 36 of Exam 2's 100 questions, while Canadian Taxation supplies about 6. Weights describe the exam blueprint, not how hard a chapter is, so plan your time by both weight and difficulty.

To pass, a candidate needs at least 60 correct answers on each exam. The exams are graded separately, so a strong result on Exam 1 cannot make up for a weak Exam 2.

How to Use This Guide

1. Follow the weights. Spend the most time on the heaviest topics, but do not skip the small ones: an 8% topic is still about 8 questions.
2. Master the calculations. Bond prices and yields, accrued interest, margin, rights values, ratios, portfolio statistics, NAVPS and tax calculations all appear. Each section works through examples step by step.
3. Learn the Canadian specifics. Expect questions on CIRO, CIPF and CDIC limits, the Bank of Canada's operating band, T+1 settlement, NI 45-106 exemptions, Fund Facts rights and the registered plans.
4. Test yourself. Each section ends with practice questions, and the related practice question bank gives more.
5. Review the official sources. CSI's course pages and exam FAQs are the authority on format, scheduling and policies.