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Securities & Markets
CISI Certificate in Securities (UK)
Prepare for the global CISI Securities technical unit with Version 25 coverage of equities, debt, markets, settlement, accounting analysis and investment management.
500 Practice Questions Detailed Study Notes Realistic mock exams
Course syllabus information reviewed for 2026. Always check the awarding body’s latest official syllabus and candidate updates before booking or sitting your exam.
Exactly what is included
- 500 practice questions across 5 mock exams · unlimited retakes
- Focus Learn · key areas, pitfalls, exam traps & key numbers
- Flashcards · fun, fast and effective recall
- Exam cheat sheet · key facts, rules and numbers by chapter
- Audio Learning · every chapter in audio
- AI Analyzer & Mentor · pinpoints your weak areas
- Study Mode Exams · learn while you train
- AI Chat trained specifically for this exam
- Checked against the official CISI Securities Version 25 syllabus, Edition 21 workbook and 1 September 2026 Candidate Update.
AI Audio Summaries New
Listen to course modules on the go. Perfect for studying while driving or commuting.
🎧 Audio
* This is a chapter sample. All audio is available in the full version.
Syllabus
Module 1: The Financial Services Industry 3% syllabus weight
🎧 Audio
Understanding the structure and participants of the financial services industry.
- • Retail vs professional/wholesale sectors
- • Key participants: banks, pension funds, insurance companies
- • Investment banks, fund managers, brokers, custodians
- • Equity, bond, and FX market overview
Module 2: Asset Classes 27% syllabus weight
Comprehensive coverage of equities, bonds, yields, FX, CISs, and structured products.
- • Ordinary and preference shares (cumulative, convertible, redeemable)
- • Bond yields: flat yield, GRY, NRY, modified duration
- • Government bonds by country (gilts, Treasuries, bunds)
- • Credit ratings and investment grade thresholds
- • Collective investment schemes and ETFs
- • Foreign exchange markets and day count conventions
Module 3: Markets 2% syllabus weight
Primary and secondary market characteristics and governing authorities.
- • Primary market: IPOs, capital raising
- • Secondary market: liquidity, HFT, algorithmic trading
- • Governing authorities: FCA, SEC, CSRC
Module 4: Primary Markets 14% syllabus weight
How securities are brought to market through various types of offerings.
- • Types of offer: subscription, sale, placing, introduction
- • Bookbuilding, underwriting, and stabilisation
- • Greenshoe options and clawback mechanisms
- • Bond offerings and the role of the DMO
Module 5: Secondary Markets 15% syllabus weight
Trading mechanisms, order types, and market structure.
- • Order-driven vs quote-driven vs hybrid systems
- • Order types: market, limit, stop, iceberg
- • Dark pools, MTFs, and systematic internalisers
- • Key equity indices: FTSE 100, S&P 500, DJIA
Module 6: Corporate Actions 7% syllabus weight
Events initiated by issuers that affect their securities.
- • Dividends: interim, final, ex-dividend mechanics
- • Scrip/bonus issues and stock splits
- • Rights issues: TERP and nil-paid value calculations
- • Share buybacks and notifiable interests
Module 7: Clearing and Settlement 8% syllabus weight
Post-trade processes including clearing, settlement, and custody.
- • Clearing vs settlement: definitions and processes
- • BIS DvP Models 1, 2, and 3
- • Custody, nominees (designated vs pooled)
- • CLS for FX settlement, stock lending
Module 8: Accounting Analysis 14% syllabus weight
Financial statements, key ratios, and accounting concepts.
- • Balance sheet: current/non-current assets and liabilities
- • Income statement: revenue to net profit
- • Cash flow statement: operating, investing, financing
- • Key ratios: EPS, P/E, dividend yield, ROCE, gearing
Module 9: Investment Management 10% syllabus weight
Risk and reward, diversification, and investment strategies.
- • Systematic vs unsystematic risk
- • Correlation, diversification, and hedging
- • Active vs passive management
- • ESG investing and bond strategies
- • Institutional investors and liquidation hierarchy
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Interactive preview
Free CISI Certificate in Securities Practice Questions & Exam Preview
Try 15 CISI Certificate in Securities practice questions from Corporate Actions
Practice CISI Certificate in Securities exam questions with answers and explanations. The full course includes 5 mock exams and chapter study tools.
Exam Preview
Corporate Actions
Which statement correctly distinguishes an interim dividend from a final dividend?
1 / 15
Flashcards
Card 1 of 10The Financial Services Industry
Question
What is the primary function of the financial services sector?
Tap to reveal answer
Focus Learn
- Differences between retail and professional or wholesale business
- Roles of banks, pension funds, insurers and investment services
- Purpose of financial planning and financial advice
- Roles of investment banks, fund managers, stockbrokers and custodians
- Principal uses of equity, bond and foreign-exchange markets
- Dated exchange-market comparison in the current Candidate Update
Chapter 1: The Financial Services Industry
This chapter establishes who uses financial services and what the main participants do. Retail business is directed mainly at individuals and smaller organisations. It includes deposit-taking, lending, pensions, insurance, investment services, financial planning and advice. Professional or wholesale business serves companies and institutional investors through larger and often more specialised transactions. In a scenario, first identify the client and then the function being performed; the size or fame of the institution is not enough to identify its role.
Banks accept deposits, operate payment services and provide finance. Pension funds invest contributions to meet future pension liabilities, while insurers collect premiums, pool risks and invest reserves against expected claims. Financi…
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Preparation Package at a Glance
| Feature | Exams Academy | Details |
|---|---|---|
| Access Period | Lifetime Access | One-time enrollment with no recurring fee |
| Practice Exams | Unlimited Retakes | Five full 100-question timed mock exams |
| Study Support | Instant 24/7 AI Tutor | Self-service AI support; live instructor support is not included |
| Cost | $151 (One-Time) | One-time payment with no recurring subscription |
Preview & See What You Will Get
Frequently Asked Questions
The exam consists of 100 multiple-choice questions that you must complete within 2 hours. You need to score 70% or higher to pass.
You get lifetime access from the moment you enrol. Study at your own pace and revisit the material whenever you need a refresher.
Yes. The course uses CISI Securities Version 25 and the Edition 21 workbook for examinations from 22 March 2026 to 21 March 2027, with the 1 September 2026 Candidate Update applied. Check CISI for later updates before sitting the exam.
Absolutely. The platform is fully responsive and works on desktop, tablet, and mobile browsers. You can study on the go.
The official workbook is the core study source. This independent companion adds five timed, syllabus-weighted mocks, 500 practice questions, explanations, flashcards, summaries and an AI tutor.
Yes. Use the current official workbook as your core source. This course is a revision and exam-practice companion, not a replacement for the CISI learning material or Candidate Updates.
The course is mapped to the official CISI Securities Version 25 syllabus and current Edition 21 workbook. Practice questions are independently authored and are not official CISI examination questions.
We do not guarantee a pass — success requires reading the official workbook and using our materials for active revision. However, our system is designed around recall-based learning, which is proven to significantly improve retention and exam performance.
CISI does not state a prior academic qualification for the Securities unit. For candidates in the UK, Ireland, Europe and North America, IntegrityMatters is a prerequisite for the Capital Markets Programme exams. Confirm the route and regulatory unit required in your jurisdiction.
Not by itself. Securities is the technical unit. The Capital Markets Programme qualification requires the technical unit plus an accepted regulatory unit for the candidate's route or jurisdiction.
Yes! Test your knowledge and review detailed explanations with the free CISI Certificate in Securities Mock Exam Preview below. It contains 15 exam-style questions from one named topic; the full course provides complete mock exams and syllabus coverage.
No. For UK regulated activities, the firm must map the role to the FCA Training and Competence sourcebook and its appropriate-qualification tables. A CISI course title alone does not establish authorisation for every activity. Confirm the requirement with the employer and regulator before booking.
Use the official CISI booking flow to check remote-invigilation or test-centre availability for CISI Certificate in Securities. Confirm the current workbook edition and read Candidate Updates before booking.
Exams Academy checkout is displayed in US dollars and the card provider converts it to GBP. The official CISI exam and required workbook are booked and paid for separately at the current CISI price.
Key Benefits
AI Audio Summaries New
Listen to course modules on the go. Practice anytime, anywhere - even while driving or commuting.
- ✓ Studio-quality AI voice narration.
- ✓ Perfect for auditory learners.
- ✓ Maximize your study time during daily commutes.
Listen to a sample
Five Full-Length Mock Exams
Practise 100 questions in 120 minutes with the official Version 25 element weighting.
- ✓ Mocks 1–4 progress from foundations to final examination practice.
- ✓ Mock 5 mixes questions from the four practice papers.
- ✓ Every paper uses the official 3/27/2/14/15/7/8/14/10 weighting.
- ✓ Unlimited retakes with answer explanations.
Quick-Reference Cheat Sheet
268 searchable revision references covering calculations, distinctions and market processes.
- ✓ BIS DvP Models and settlement cycles.
- ✓ Credit rating scales and investment grade thresholds.
- ✓ Yield calculations and day count conventions.
- ✓ Liquidation hierarchy and accounting rules.
248 Active Recall Flashcards
Master key concepts with spaced repetition across all 9 chapters.
- ✓ Covers asset classes, markets, settlement, and accounting.
- ✓ Track mastery progress with the built-in tracker.
- ✓ Focus on the facts most likely to appear in exams.
Chapter Summaries with Exam Tips
Concise summaries highlighting examinable areas and common exam traps.
- ✓ Examinable areas ranked by importance.
- ✓ Common pitfalls that catch students out.
- ✓ CISI-specific exam tricks and distinctions.
AI-Powered Study Mentor
Get instant explanations and guidance on any topic from your AI tutor.
- ✓ Ask questions in natural language.
- ✓ Get detailed explanations with examples.
- ✓ Covers all 9 chapters of the syllabus.
Exam Format & Details
| Assessment | Computer-based multiple-choice examination; up to 10% additional unidentified trial questions may be included with proportionate extra time |
| Duration | 120 Minutes |
| Standard Pass Mark | 70% |
| Level | CISI Level 3 |
| Recommended Study Time | 100 hours |
| 2026 Published Pass Rate | 83% |
Certificate in Securities with Smart Practice
This is a complete exam simulation system for the global CISI Securities technical unit in the Capital Markets Programme. It covers all nine Version 25 elements, from the Financial Services Industry to Investment Management, using the current Edition 21 workbook and syllabus effective from 22 March 2026.
The course includes 500 practice questions across five full 100-question timed mocks. Every paper follows the official element weighting and two-hour pace. Flashcards, summaries and the quick-reference sheet support active recall, while the official workbook remains the core study source.
Who Is This For?
✓ Financial services professionals preparing for the CISI Certificate in Securities
✓ Students pursuing Capital Markets Programme qualifications
✓ Investment banking and securities operations professionals
✓ Compliance and risk professionals needing securities knowledge
✓ Career changers entering the financial services sector
✓ International professionals seeking UK-recognised qualifications
Preparation centre
CISI Certificate in Securities Exam Guides
Use these connected guides for the syllabus, exam format, booking and revision strategy.
Practice
Best CISI Certificate in Securities Mock Exams & Free Sample Papers (2026)
Prepare with CISI Certificate in Securities mock exams mapped to Version 25. Preview the course and practise 500 questions across five mock exams.
Exam guideIs the CISI Certificate in Securities Worth It?
Assess whether the CISI Certificate in Securities is worth it for capital-markets careers, including exam demands, career fit and qualification limits.
Course Features
🇬🇧 Local market guide
CISI Certificate in Securities in the United Kingdom: pathway, booking and careers
Review how CISI Certificate in Securities connects to regulation, qualification pathways, booking, currency and careers in the United Kingdom before paying the official exam fee.
Regulator and qualification pathway
For UK regulated activities, the firm must map the role to the FCA Training and Competence sourcebook and its appropriate-qualification tables. A CISI course title alone does not establish authorisation for every activity.
Financial Conduct AuthorityBooking and official examination
Use the official CISI booking flow to check remote-invigilation or test-centre availability for CISI Certificate in Securities. Confirm the current workbook edition and read Candidate Updates before booking.
Find a CISI test centreCareer and employer context
Match the course syllabus to the knowledge needed for your intended role. UK regulated activities may require a particular qualification or combination of units; confirm the requirements with your employer.
Price and currency
Exams Academy checkout is displayed in US dollars and the card provider converts it to GBP. The official CISI exam and required workbook are booked and paid for separately at the current CISI price.
Market-specific reading
Understand the pathway before booking
Ready to Pass Your Exam?
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CISI Certificate in Securities
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