Are you looking to become a certified financial planner? If so, you may be wondering if there is an exemption from the SFC Exam. This blog post will discuss everything you need to know about the SFC Exam exemption!
The Securities and Futures Commission (SFC) regulates the financial services industry in Hong Kong. To become a certified financial planner, or a licensed representative of the SFC, you must pass the Exam. This challenging exam tests your knowledge of securities laws, regulations, products, and procedures.
However, there are certain exemptions from taking the SFC Exam. If you have already obtained an acceptable qualification from a recognized higher education institution, you may be exempt from taking the SFC Exam. The exemption applies if you have successfully completed either:
1) An accredited professional qualifications program offered by an accredited educator; or
2) A postgraduate degree in finance-related studies from an accredited higher education institution.
If you do not fall under the exemption criteria, you will need to take the Exam. The exam consists of two parts: Part 1 and Part 2.
Part 1 covers securities markets, accounting and financial statements, investments and portfolio management, corporate finance, risk management and control systems, securities regulations, professional ethics and related laws. It also tests your ability to analyze situations and make informed decisions based on legal principles.
Part 2 reviews more advanced topics such as derivatives instruments, interest rate products, asset structuring and securitization techniques, hedge funds operations and alternative investment strategies. You will be required to demonstrate a good understanding of these more sophisticated topics in order to pass the SIE exam. The questions on the SIE exam will also test your ability to analyze and interpret financial data, perform quantitative analyses, apply economic concepts and principles, and use the terms and concepts related to financial services and markets.
In addition to the exemption, there are also various waivers available for individuals who have relevant experience in the field of finance and investments. The waivers apply if you have at least three years of full-time experience in a related field or work setting such as investment banking, private banking, asset management, research, or securities dealing.
Overall, taking the SFC Exam exemption can be an intimidating process but those who prepare adequately will find that it is well worth their effort. Understanding how to pass the SFC Exam may seem daunting initially but with adequate preparation and dedication, anyone can become a successful representative of the Securities and Futures Commission.
