SEC Certified Investment Solicitor (CIS) study guide
SEC Certified Investment Solicitor (CIS) · Work through your exam, one topic at a time.
The Certified Investment Solicitor (CIS) is a professional credential for people who advise on, sell, or supervise investment products. It signals that the holder can connect product knowledge with the rules that govern how those products may be recommended and sold. The SEC Certified Investment Solicitor (CIS) study guide has 9 sections and about 2,749 words.
01Regulatory Framework and Securities Law
The Regulatory Framework and Securities Law domain tests how the Philippine Securities Regulation Code (RA 8799), SEC rules, and related laws govern offers, sales, licensing, disclosure, and market conduct. Questions often ask whether a transaction needs registration or an exemption, who must be licensed, and what conduct is prohibited.
330 words, about 2 min02Ethics, Conduct and Client Suitability
Ethics, Conduct and Client Suitability tests the standards expected when advising retail and institutional clients: honesty, fair dealing, know-your-client (KYC), suitability, conflicts disclosure, confidentiality, and complaint handling. The exam favors scenario questions where the technically possible sale is still improper.
312 words, about 2 min03Equities and Equity-Linked Products
Equities and Equity-Linked Products tests share types, corporate actions, trading mechanics, dilution, and basic equity-linked instruments. Expect questions on rights issues, warrants, convertibles, dividends, and valuation multiples rather than deep accounting.
336 words, about 2 min04Fixed Income and Money Market Instruments
Fixed Income and Money Market Instruments tests pricing, yield, duration, credit, and short-term instruments. The exam expects you to know why bond prices move opposite to yields and how to distinguish coupon, current yield, and yield to maturity (YTM).
297 words, about 1 min05Derivatives and Structured Products
Derivatives and Structured Products tests forwards, futures, options, swaps, margin, hedging, and retail structured products. The exam focuses on payoff logic, counterparty risk, leverage, and suitability-not on complex pricing models.
306 words, about 2 min06Collective Investment Schemes and Funds
Collective Investment Schemes and Funds tests pooled investment vehicles: mutual funds, unit investment trust funds (UITFs), ETFs, and closed-end funds. The exam asks about NAV, fees, subscription and redemption, diversification, and the regulatory split between SEC-registered funds and BSP-supervised trust products.
312 words, about 2 min07Portfolio Management and Asset Allocation
Portfolio Management and Asset Allocation tests the investment policy statement (IPS), risk and return, diversification, strategic versus tactical allocation, rebalancing, and performance evaluation. Questions often ask what is suitable for a client's constraints, not which asset has the highest forecast return.
288 words, about 1 min08Investment Analysis and Valuation
Investment Analysis and Valuation tests intrinsic value, discounted cash flow, dividend discount models, relative valuation, and the quality of assumptions. The exam rewards consistent cash flows and discount rates more than precise decimals.
306 words, about 2 min09Risk Management and Compliance Controls
Risk Management and Compliance Controls tests risk identification, control design, AML/KYC, recordkeeping, business continuity, and supervisory expectations. The exam treats compliance as a control system, not a one-time legal check.
262 words, about 1 min