HKSI LE Exam Guides

Free, plain-English guides to the HKSI Licensing Examination for Securities and Futures Intermediaries: the Paper 1 format and syllabus, how hard it is and how to pass, which papers the SFC expects for your licence, fees, registration, exam day and results. Then sit a free Paper 1 mock to see where you stand.

HKSI Prep is independent and is not affiliated with or endorsed by HKSI Institute or the Securities and Futures Commission (SFC). Exam formats, fees and licensing rules change: confirm the current details on hksi.org and sfc.hk before you enrol or apply.

Paper 1

• HKSI Paper 1 Exam Guide: Format and SyllabusHKSI LE Paper 1 explained: 60 questions in 90 minutes, a 70% pass mark, the nine syllabus topics (v35, from 30 June 2026), who needs it and how to prepare.
• How Hard Is HKSI Paper 1? Pass Rate ExplainedAbout half of HKSI Paper 1 candidates pass. The published pass rate, why the paper catches people out, and where the marks are won and lost.
• HKSI Pass Rates: Every LE Paper, Month by MonthHKSI LE pass rates for all 17 papers, September 2025 to August 2026. Paper 1 averaged 50.9%, the lowest of any paper, and fell to about 44% by mid-2026.
• How to Pass HKSI Paper 1: A Study MethodA study method for HKSI Paper 1: learn each figure with its rule, practise applied questions by topic, then sit timed mocks until you clear 80%.
• How Long to Study for HKSI Paper 1HKSI estimates 55-85 self-study hours for a regulatory paper. Sample 3, 5 and 8-week Paper 1 schedules, and how to tell when you are ready.
• HKSI Paper 1 Past Papers and Sample TestsHKSI publishes no Paper 1 past papers. What it gives free (sample tests, an exam simulator, the eStudy Guide on enrolment) and why old PDFs mislead.
• HKSI Study Manual PDF: Versions for Every PaperWhich HKSI study manual (eStudy Guide) applies to your sitting, for every LE paper: Paper 1 v3.5, Papers 7 and 8 v3.7 from 9 December 2026, and how to get it.
• HKSI Paper 1: 10 Traps That Cost MarksTen HKSI Paper 1 traps: figures and exceptions candidates mix up, from the 10% vs 5% shareholder tests to CPT hours, each with the rule and its source.
• HKSI Paper 1 Results, Retakes and 3-Year RulesHow HKSI Paper 1 results work, what to do after a fail, and the two separate three-year rules: HKSI certificates and SFC licence applications.

Which papers and which licence

• HKSI Paper 7 and 8 Exemption: The Degree RuleDo you need HKSI Papers 7 and 8? Under the SFC Guidelines on Competence, a relevant degree, CFA, CIIA or CFP means Paper 1 only for a new representative.
• SFC Licence Exams: HKSI Papers by Licence TypeWhich HKSI papers each SFC licence needs: Type 1, 4, 9 and every other regulated activity, for representatives and responsible officers.
• HKSI Papers 1, 7 and 8: Order, Cost and TimingSitting HKSI Papers 1, 7 and 8 for a Type 1 or 4 licence: who needs all three, which order to take them in, the HKD5,040 total and the 9 December 2026 change.
• HKSI Paper 7 vs Paper 8: What Each CoversPaper 7 (Financial Markets) and Paper 8 (Securities) compared: format, topics, who needs them, and the new study guides that apply from 9 December 2026.
• SFC Licence Requirements for RepresentativesWhat the SFC looks at before licensing a representative: fit and proper, competence (exams and qualifications), accreditation to a firm, and annual CPT.

Registering, fees and exam day

• How to Register for the HKSI LE ExamEnrol for an HKSI LE paper online, then book a computer-based session within 90 days. Deadlines, rescheduling, withdrawals and the ID you need.
• HKSI LE Exam Fees: What Each Paper CostsHKSI LE exam fees by paper as published on hksi.org (checked 11 October 2026), Hong Kong vs global centres, what each route costs, and other charges.
• HKSI Exam Day: What to Expect and What to BringHKSI LE exam day: the ID you must show, the 30-minute late cut-off, calculator rules, and when you see your result and Notification of Results.