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CIRO RSE exam : Retail Securities Exam

RSE Exam Simulator
  • Exam Code: RSE
  • Exam Name: Retail Securities Exam
  • Updated: Aug 18, 2026
  • Q & A: 122 Questions and Answers
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CIRO RSE exam simulator

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CIRO RSE Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: EquitiesApproximately 10%- Common and preferred shares
- Equity markets
- Valuation concepts
Topic 2: Investment RecommendationsApproximately 11.7%- Product selection
- Client communication
- Recommendation development
Topic 3: Monitoring, Reporting and Maintaining Client RelationshipsApproximately 5.8%- Client relationship management
- Performance reporting
- Account monitoring
- Ongoing suitability review
Topic 4: Managed Products and Other InvestmentsApproximately 13.3%- Mutual funds
- Exchange-traded funds (ETFs)
- Structured products
- Alternative investments
Topic 5: Portfolio ConstructionApproximately 10.8%- Diversification
- Portfolio risk management
- Asset allocation
Topic 6: Fixed IncomeApproximately 8.3%- Yield and pricing
- Government and corporate bonds
- Interest rate risk
- Credit risk
Topic 7: Securities AnalysisApproximately 11.7%- Technical analysis
- Financial statement interpretation
- Fundamental analysis
Topic 8: Execution and Market IntegrityApproximately 5.8%- Market integrity rules
- Best execution
- Order handling
Topic 9: Know-Your-Client (KYC) and SuitabilityApproximately 22.5%- Regulatory obligations
- Know-Your-Product (KYP)
- Client profile collection and maintenance
- Suitability assessment
- Investment objectives and risk tolerance

CIRO Retail Securities Sample Questions:

1. A mutual fund has total assets of $84 million, liabilities of $9 million and 3 million units outstanding. What is the fund's net asset value per unit?

A) $25
B) $22
C) $28
D) $31


2. A Registered Representative (RR) places a large order for a stock in their personal account before placing the same order for a client. What Universal Market Integrity Rules (UMIR) violation is this most likely to be?

A) Wash trading
B) High-frequency trading
C) Front running
D) Spoofing


3. A client sold a portfolio of stocks and realized a capital gain of $10,000 and a capital loss of $4,000. Under the Canadian capital gains tax system, what is the net taxable amount from these transactions?

A) $3,000
B) $10,000
C) $6,000
D) $5,000


4. A retail client is 25-year-old with a stable income, a high risk profile and has a good understanding of the securities and the securities market. They wish to open an account that allows them to take responsibility for their own investment decisions and allow them to seek growth opportunities in the securities markets. Under account appropriateness rules, which seems most appropriate?

A) An aggressive growth mutual fund to maximize potential returns
B) A balanced mutual fund account composed of a mix of equities and bonds
C) Order execution only (OEO) account
D) Direct electronic access (DEA) account


5. A client wants to buy a recreational vehicle costing $25,000 in 3 years. They plan to make deposits of $630 at the start of each month into an investment account. What approximate annualised return is required to achieve their goal?

A) 4%
B) 6%
C) 10%
D) 8%


Solutions:

Question # 1
Answer: A
Question # 2
Answer: C
Question # 3
Answer: A
Question # 4
Answer: C
Question # 5
Answer: B

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