The Chartered Institute of Stockbrokers (CIS) has launched a new syllabus for its professional examinations as part of efforts to sustain its global competitiveness in capacity building.
The new syllabus, which is expected to take effect from March 2021, provides opportunities for specialisation in line with the global best practices.
President, Chartered Institute of Stockbrokers (CIS), Mr Olatunde Amolegbe, said the new syllabus would reduce qualifying time and also encourage specialisation after level one.
According to him, the syllabus was structured to enable candidates specialise in their areas of comparative advantage while they 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,” Amolegbe said.
Registrar and Chief Executive, Chartered Institute of Stockbrokers (CIS), Mr Adedeji Ajadi said the key features of the new examination curriculum were Levels 1 and 2 as in the old curriculum, candidates are expected to write and pass four papers in level 1 or obtain exemptions 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 Valuationand 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.
Ajadi said 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.
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 2021 examination diet.
Any student taking his 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.
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