CSC Exam 1 vs CSC Exam 2: which exam do you need?
CSC Exam 1 covers the marketplace, the economy and products: bonds, shares and derivatives. Exam 2 covers analysis, portfolios, mutual funds, ETFs, alternatives, tax and clients. Both have 100 questions in 2 hours and need 60%. Most candidates write Exam 1 first.
CSC Exam 1 vs CSC Exam 2 at a glance
| CSC Exam 1 | CSC Exam 2 | |
|---|---|---|
| Full name | Canadian Securities Course (CSC) Exam 1 | Canadian Securities Course (CSC) Exam 2 |
| Questions | 100 multiple-choice questions | 100 multiple-choice questions |
| Time | 2 hours | 2 hours |
| Passing score | 60% | 60% |
| Format | Closed book, computer-based | Closed book, computer-based |
| Cost | Included in the CSC enrolment set by CSI (packages have been listed at roughly C$1,000 to C$1,400 for both exams); check CSI before you enrol | Included in the CSC enrolment set by CSI (packages have been listed at roughly C$1,000 to C$1,400 for both exams); check CSI before you enrol |
| Languages | English and French | English and French |
| Where | Remote proctoring or an in-person test centre, booked through CSI | Remote proctoring or an in-person test centre, booked through CSI |
| Level | Canadian Securities Course | Canadian Securities Course |
What each exam covers
CSC Exam 1
- The Canadian Securities Marketplace
- The Canadian Economy
- Features of Fixed-Income Securities
- Pricing and Trading Fixed-Income Securities
- Common and Preferred Shares
- Equity Transactions
- Derivatives
- Corporations and Their Financial Statements
- Financing and Listing Securities
CSC Exam 2
- Fundamental and Technical Analysis
- The Portfolio Approach
- Mutual Funds
- Exchange-Traded Funds
- Alternative, Managed and Structured Products
- Canadian Taxation
- Fee-Based Accounts and Retail Clients
- Working with the Institutional Client
Which should you take?
CSC Exam 1 covers the marketplace, the economy and products: bonds, shares and derivatives. Exam 2 covers analysis, portfolios, mutual funds, ETFs, alternatives, tax and clients. Both have 100 questions in 2 hours and need 60%. Most candidates write Exam 1 first.
Try both, free
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FAQ
What is the difference between CSC Exam 1 and CSC Exam 2?
CSC Exam 1 covers the marketplace, the economy and products: bonds, shares and derivatives. Exam 2 covers analysis, portfolios, mutual funds, ETFs, alternatives, tax and clients. Both have 100 questions in 2 hours and need 60%. Most candidates write Exam 1 first.
Which is harder, CSC Exam 1 or CSC Exam 2?
CSC Exam 1: 100 multiple-choice questions in 2 hours. CSC Exam 2: 100 multiple-choice questions in 2 hours. The longer exam covers more ground, but the harder one is the one further from your daily work. Take both free practice tests to see where you stand.
Can I hold both CSC Exam 1 and CSC Exam 2?
Yes. They're separate exams. Many candidates write more than one, for example the CIRE followed by the Retail Securities Exam, or both CSC exams.
How do I prepare for CSC Exam 1 and CSC Exam 2?
Start with the free practice test for each, then study by topic. Premium is per exam (C$207 a month each), so most people start with the exam they'll sit first and add the second when they're ready.
More comparisons
Exam details are summarized from CSI's and CIRO's published information as of October 2026. Confirm with CSI or CIRO before you book. CSCQuizBank is not affiliated with CSI, CIRO or Fitch Learning.