CISI IISI CME-1A Syllabus Breakdown and Key Topics for 2026

Table of Contents

• • 2026 IISI Syllabus Weightings
• • Focus on the Highest-Weight Areas
• - 1. Equities and Bonds (32% combined)
• - 2. Investment Funds (12%)
• - 3. Regulation and Ethics (10%)
• • Key Definitions to Master

The CISI International Introduction to Securities and Investment (IISI) CME-1A is a comprehensive exam that provides a broad foundation in financial services. Because the syllabus covers such a wide array of topics, understanding the exam’s structure and chapter weightings is critical for an efficient study plan.

The 2026 syllabus continues to emphasize the mechanics of core financial products while ensuring candidates have a solid grasp of the economic environment in which they operate.

2026 IISI Syllabus Weightings

The exam consists of 50 multiple-choice questions. The current syllabus allocates those questions across ten elements:

Chapter Area	Weighting	Questions
Financial Services Industry	6%	3
Economic Environment	8%	4
Equities/Shares	18%	9
Bonds/Fixed Interest	14%	7
Other Markets and Investments	10%	5
Derivatives	8%	4
Investment Funds	12%	6
Regulation and Ethics	10%	5
Other Financial Products	8%	4
Financial Advice	6%	3

Check the syllabus version and effective dates for the sitting you book. Do not use a distribution copied from an earlier version.

Focus on the Highest-Weight Areas

To pass the IISI exam, you must secure strong marks in the three most heavily weighted areas:

1. Equities and Bonds (32% combined)

These two chapters form the bedrock of the qualification.

• For Equities, you must understand the different types of corporate actions (rights issues, bonus issues), the rights of ordinary vs. preference shareholders, and how equity markets operate.
• For Bonds, focus heavily on the relationship between price and yield. Understand the difference between government bonds and corporate bonds, and how credit ratings impact bond pricing.

2. Investment Funds (12%)

You will be tested on the structural differences between open-ended and closed-ended funds. Ensure you know the definitions and operational mechanics of Unit Trusts, OEICs, Investment Trusts, and Exchange Traded Funds (ETFs).

3. Regulation and Ethics (10%)

This element tests regulatory objectives, client protection, financial crime and ethical conduct. Keep each rule tied to the jurisdiction and source stated in the workbook rather than combining requirements from different markets.

Key Definitions to Master

The IISI exam tests your vocabulary as much as your numerical skills. Review these essential definitions to ensure you don’t lose easy marks on terminology questions.

• Primary and secondary markets: A security is issued in the primary market and traded after issue in the secondary market.
• Current yield: Annual bond coupon divided by the bond’s current market price, not its nominal value.
• Rights issue and bonus issue: A rights issue asks existing shareholders to pay a subscription price; a bonus issue gives additional shares without a new cash payment.
• Open-ended and closed-ended funds: Distinguish how units or shares are created and how the dealing price is determined.
• Suitability: Relate a recommendation to the client’s objective, time horizon, financial position and capacity for loss.