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 exams 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.
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.
📖 What you'll find inside each element: key definitions, regulatory highlights, practical examples, and exam practice questions at the end of each element to reinforce your learning. Whether you're changing careers, a new graduate, or an industry professional refreshing knowledge, these pages are designed for focused, self-paced learning.
🌟 My goal: Level the playing field and make regulatory exam preparation accessible for everyone. If these notes help you pass — that’s the biggest reward. Happy studying!
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📬 Questions or suggestions? Feel free to reach out anytime: info@hawkhive.ca
Your feedback helps improve these notes for everyone — I’d love to hear how I can make them even better.
— A fellow CIRE candidate & open‑source advocate
Identify, describe and explain the purpose of main investment industry regulators in Canada, AML legislation, confidentiality and privacy.
Explore →Client relationship model, conflict disclosure, suitability assessment, KYC, and account performance reporting.
Explore →Investment vs Registered Representative, KYC, product due diligence, fiduciary duty, trust and agency concepts.
Explore →Requirements for complaint handling, regulatory obligations, recordkeeping, and client recourse options.
Explore →Macroeconomic theories, central banks, fiscal policy, and sources of market insight.
Explore →UMIR rules, gatekeeping, order types, settlement and delivery processes.
Explore →Features, risks, returns of securities, managed products, and mutual funds.
Explore →Identify and manage conflicts, ethical dilemmas, information security, and legal responsibilities.
Explore →110 questions across 9 elements with separate sections so you can easily review each element.
Start Mock Test 1 →Focus on regulations, ethics, and client suitability. See which areas need improvement.
Start Mock Test 2 →Heavy on investment products (equities, fixed income, funds) and portfolio theory.
Start Mock Test 3 →Derivatives, structured products, and risk management scenarios.
Start Mock Test 4 →Comprehensive final review: all 9 elements, real exam difficulty, with detailed performance analytics.
Start Mock Test 5 →📌 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.
⚠️ Disclaimer: This is an independent, unofficial resource created to aid self-study. Always refer to CIRO’s official handbook and current exam syllabus for definitive requirements.