Guides to the HKSI Licensing Examination
Which papers you need for each SFC licence type, and what's on each paper.
Certification guides
HKSI Paper 1 guide (2026)
Paper 1, Fundamentals of Securities and Futures Regulation, is the regulation paper nearly every representative must pass.
Which HKSI papers do you need?
To become an SFC licensed representative (or a relevant individual at a bank), you usually pass three HKSI Licensing Examination papers: Paper 1 on regulation, Paper 7 on financial markets, and one paper for your regulated activity.
Exam study guides
Paper 1 study guide
7 topics, key facts with sources, flashcards and a mind map. Premium: 800 flashcards and 60 key notes by topic.
Paper 7 study guide
6 topics, key facts with sources, flashcards and a mind map. Premium: 800 flashcards and 60 key notes by topic.
Paper 8 study guide
6 topics, key facts with sources, flashcards and a mind map. Premium: 800 flashcards and 60 key notes by topic.
Paper 9 study guide
5 topics, key facts with sources, flashcards and a mind map. Premium: 800 flashcards and 60 key notes by topic.
Paper 12 study guide
6 topics, key facts with sources, flashcards and a mind map. Premium: 800 flashcards and 60 key notes by topic.