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CIRO CIRE Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Prospective Client Relationships | ~10% | - Relationship Discovery and Qualification - Know Your Prospect (KYP) and Disclosures |
| Market Integrity, Trade Execution and Settlement | ~12% | - Order Types, Execution and Settlement Processes - UMIR and Market Integrity Rules |
| Overview of Regulatory Framework | ~10% | - Market Infrastructure and Protection Funds - Securities Legislation and Regulators (CSA, CIRO, FINTRAC) |
| Market and Company Analysis | ~8% | - Fundamental and Technical Analysis - Investment Performance Benchmarks |
| Scope of Client Relationship, KYC and Suitability | ~15–18% | - Know Your Client (KYC) Requirements - Suitability Assessment and Obligations |
| Client Complaint Handling and Reporting | ~5% | - Complaint Management Framework - Escalation, Recordkeeping and Reporting |
| Derivatives Fundamentals | ~5–8% | - Options, Futures and Forwards Basics - Risk and Suitability for Derivatives |
| Securities and Managed Products | ~19% | - Fund Structures and Product Characteristics - Equities, Fixed-Income and Managed Products |
| Conflicts of Interest and Ethics | ~14–15% | - Client-Focused Reforms and Ethical Standards - Conflict Identification, Disclosure and Management |
CIRO Canadian Investment Regulatory Sample Questions:
1. Which of the following best defines the main objective of fundamental analysis in relation to stock market behavior?
A) To analyze historical stock prices to forecast future trends
B) To identify stock price movements based on technical chart patterns
C) To predict short-term price movements based on market sentiment
D) To evaluate a company's financial health and intrinsic value
2. A shareholder owns shares in a company that announces a 2-for-1 stock split. Which of the following most accurately describes the impact of this stock split?
A) The stock split will increase the shareholder's investment value because the company is essentially
"giving" more shares
B) The stock split will decrease the total value of the shareholder's investment, causing the company's market capitalization to shrink
C) The number of shares owned by the shareholder will increase, but the overall value of the investment will increase as well
D) The total value of the shareholder's investment will remain the same, but the number of shares owned will double
3. Which method is typically used to calculate the value of most equity indices?
A) Using a weighted average based on the market capitalization of each company
B) Adding dividend yields of included companies divided by total number of companies
C) Using the median stock price of the included companies for index calculation
D) Adding stock prices of included companies divided by total number of companies
4. A company's financial analyst is reviewing the company's financial status as of the end of the fiscal year. Which financial statement will provide the necessary details about the company's assets and liabilities at that specific point in time?
A) Statement of Financial Position
B) Statement of Cash Flows
C) Income Statement
D) Statement of Comprehensive Income
5. What is the primary use of commodities like soybeans, crude oil, and copper?
A) They are used for investment and speculative purposes
B) They are used to protect against fluctuating prices
C) They are used for consumption and industrial purposes
D) They are used to profit from fluctuating prices
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: C |





