The examinations have been carefully structured to ensure that all subjects are well integrated and that their relevance to each other is well understood. It is not enough for a student to learn one topic, pass the relevant examination and then abandon the topic to start concentrating on another.

Therefore, all 12 examination subjects are assessed at both Levels 1 and 2 of the examinations. In the Level 1 examination, basic knowledge and understanding of the 12 topics are assessed, and in the Level 2 examination, in depth knowledge and practical application of that knowledge are assessed. CIS will use the paper-based assessments for the two levels.

EXAMINATION STRUCTURE
The examination consists of four examination papers in each level. Each of the examinations will be for a duration of 3 hours.

Examination I :
This examination will cover all the basic concepts that the students need to pursue study of courses like Securities and Investment Analysis, Asset Valuation and
Portfolio Management.

This examination covers three courses –

1. Financial Accounting and Financial Statement Analysis
2. Economics and Financial Markets
3. Quantitative Techniques

Examination II :
In this examination, a major portion of the inputs required to make a good portfolio manager are covered.
The courses to be studied for this examination are –

1. Corporate Finance
2. Equity Valuation and Analysis
3. Fixed Income Valuation and Analysis

Examination III :
This examination covers three courses –

1. Derivative Valuation Analysis
2. Portfolio Management
3. Commodity Trading and Futures

Examination IV :
This examination covers the national securities laws, regulations and ethics and professional standards. It consists of three courses –

1. Ethics and Professional Standards
2. Law relating to Securities and Investments
3. Regulations of Securities and Corporate Finance