Element 01
Weight: 10%
Overview of regulatory framework
Identify, describe and explain the purpose of main investment industry regulators in Canada, AML legislation, confidentiality and privacy.
📘 What is the CIRE exam?
The Canadian Investment Regulatory Examination (CIRE) is a mandatory licensing exam for individuals seeking registration as a Dealing Representative (investment advisor) under CIRO. It replaced legacy models and ensures candidates master Canadian securities regulation, ethical conduct, investment products, and client suitability standards.
Administered by CIRO, the exam consists of 110 multiple-choice questions (2 hours) and requires a solid grasp of prohibited practices, registrant obligations, portfolio management, and product analysis. Passing the CIRE is a key step toward becoming a Registered Representative (RR) in Canada.
*Passing grade subject to official CIRO standards — always verify current exam guidelines.
Syllabus Breakdown
Explore Core Syllabus Elements
Element 02
Weight: 10%
Prospective client relationships
Client relationship model, conflict disclosure, suitability assessment, KYC, and account performance reporting.
Element 03
Weight: 15%
Scope of client relationship
Investment vs Registered Representative, KYC, product due diligence, fiduciary duty, trust and agency concepts.
Element 04
Weight: 5%
Client complaints handling
Requirements for complaint handling, regulatory obligations, recordkeeping, and client recourse options.
Element 05
Weight: 8%
Market and company analysis
Macroeconomic theories, central banks, fiscal policy, and sources of market insight.
Element 06
Weight: 12%
Market integrity & trade execution
UMIR rules, gatekeeping responsibilities, order types, settlement and delivery processes.
Element 07
Weight: 19%
Securities & managed products
Features, risks, returns of securities, managed products, and mutual funds.
Element 08
Weight: 5%
Derivatives
Options, futures, basic hedging strategies, administrative requirements, and prohibited practices.
Element 09
Weight: 16%
Conflicts of interest and ethics
Identify and manage conflicts, ethical dilemmas, information security, and legal responsibilities.
Simulated Assessments
Practice Mock Exams
Mock Test 01
Practice Exam #1
110 questions across 9 elements with separate sections so you can easily review each element.
Mock Test 02
Practice Exam #2
Focus on regulations, ethics, and client suitability. See which areas need improvement.
Mock Test 03
Practice Exam #3
Heavy on investment products (equities, fixed income, funds) and portfolio theory.
Mock Test 04
Practice Exam #4
Derivatives, structured products, and risk management scenarios.
Mock Test 05
Practice Exam #5
Comprehensive review: all 9 elements, realistic difficulty with detailed element-by-element tracking.
Support Open Education
✨ From a candidate to you — no expensive prep needed
After successfully preparing for the CIRE exam, I realized how costly commercial prep courses can be. That’s why I built these 9 complete study elements from the official CIRO syllabus — to help motivated learners like you access high‑quality, structured material completely free. No subscriptions, no hidden fees, just clear notes that focus on what really matters for the exam.
— A fellow CIRE candidate & open-source advocate
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📌 Quick exam facts: The CIRE exam is closed-book, proctored (in-person or online), and focuses heavily on ethics, regulations, and suitability. Many candidates recommend 40–60 hours of study. These 9 elements cover the complete Competency Profile set by CIRO.