The Chartered Institute of Stockbrokers (CIS) has announced new syllabus for its Professional Examinations to sustain its global competitiveness in capacity building.
The new syllabus, which is expected to take effect from March 2021, provides opportunities for specialization in line with the global best practices.
“The syllabus will reduce qualifying time and also encourage specialization after Level One. The syllabus is structured to enable candidates specialize in their areas of comparative advantage. This is about subject matter for the experts. Our candidates can also aspire to become omnibus securities dealers upon completion of the entire gamut of the syllabus. We are also working seriously on conducting our examinations virtually”, says Olatunde Amolegbe, the Institute’s President.
In a statement signed by the Registrar and Chief Executive, Mr Adedeji Ajadi, the key features of the new examination curriculum are Levels 1 and 2 as in the old curriculum, candidates are expected to write and pass four papers in level 1 or obtain exemption(s) where applicable before proceeding to Level 2, Level 1 will retain the four papers in the old syllabus; but the papers will be upgraded and enhanced.
“The applicable papers are: Paper 1.1- Financial Accounting, Economics and Financial Markets, Quantitative Analysis and Statistics. Paper 1.2 – Corporate Finance Equity Valuation Analysis and Fixed Income Valuation Analysis. Paper 1.3 – Derivative Valuation and Analysis, Portfolio Management and Commodity Trading and Futures. Paper 1.4 – Ethics and Professional Standards, Law Relating to Securities and Investments and Regulations of Securities and Corporate Finance
“At level 2, candidates will be required to write and pass paper 2.4 and a new single paper 3.0- Combinations of Equity Valuation and Analysis; Fixed Income Valuation and Analysis; Portfolio Management; Commodity Trading and Futures; Derivatives and Financial Engineering and Financial Advisory Services. These two papers can be successfully completed within six months of completing the Level 1 examination.
“The credit system will still be applicable, and candidates will continue to enjoy the flexibility of choosing and writing the examination in the order of their preference within each level.”, says Ajadi.
According to him, there is a transitional arrangement in which any student on the current examination structure will have two diets transition period (March and September 2021 diets) to complete the current examination scheme.
“Any student who fails to complete the current scheme within the above stated transitional period will be automatically converted to the new examination structure after September 2021examination diet.
Any student taking his/her first CIS examination from the March 2021 examination diet will be starting on the new examination structure. A student on the current examination structure will have two diets transition period (March and September 2021 diets) to complete the current examination scheme.
“The examination structure in level 1 remains the same. Therefore, all new and current candidates at this level will continue to write their Papers and progress to the new Level 2 structure upon completing their Level 1 Papers. All candidates who completed Level 1 at the conclusion of the September 2020 diet, and all candidates who had completed level 1 earlier but do not have any Level 2 Paper(s) credited to them at the conclusion of the September 2020 diet, will automatically transit to the new Level 2 curriculum.”, said Ajadi.