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Capital Markets (CMSA®)
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Canadian Securities Course (CSC)
The licensing course to be a registered investment advisor in Canada
What is the Canadian Securities Course (CSC)?
The Canadian Securities Course (CSC) is the first requirement for becoming a registered investment representative in Canada, which applies to some corporate finance careers. Passing the CSC requires writing two exams (part 1 and part 2) that must be completed within 365 days of registering for the course.
It’s recommended that students allocate 150 to 200 hours of studying for the Canadian Securities Course.
What Topics Does the Canadian Securities Course Cover?
The course is divided into two parts, which are outlined in more detail below.
Exam 1
- Canadian Investment Marketplace
- Economics
- Fixed-Income Securities:
- Features and Types
- Pricing and Trading
- Equity Securities:
- Preferred Shares and Common Shares
- Transactions
- Derivative Securities
- Listing and Financing Securities
- Public Corporations and Financial Statements
Exam 2
- Financial Analysis:
- Fundamental and Technical Research and Analysis
- Company Research
- Portfolio Management:
- Introduction to the Portfolio Approach
- Portfolio Management Process
- Funds:
- Mutual Funds
- ETFs
- Segregated and Hedge Funds
- Other Managed and Structured Products
- Tax Considerations
- Retail Clients
- Institutional Clients
What Career Paths Require the Canadian Securities Course (CSC)?
The Canadian Securities Course is actually not a requirement for most jobs in corporate finance. The main careers that require it are those of portfolio managers and sales & trading professionals.
The majority of job paths on our Career Map don’t require registration with the CSC, as they don’t involve the direct buying or selling of securities.
You may be pleased to learn that jobs like investment banking and equity research don’t require taking the CSC. If you’re just finishing school and looking to start your career, it may be a pleasant surprise since most BCom students don’t feel like studying anymore right after graduation.
Finance and Accounting Courses
If you are planning to take the Canadian Securities Course, it may be a good idea to brush up on several topics with free CFI courses. Courses that would be relevant include:
Topics NOT COVERED in the CSC but that are very relevant to careers in corporate finance include:
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Additional Resources
Thank you for reading this guide to the Canadian Securities Course and learning about its curriculum, reasons to take it, and why it’s required for licensing. To keep learning and advancing your career in corporate finance, CFI highly recommends these additional resources:
