CIRE is built around defensible decisions under time pressure. It rewards candidates who can read a scenario, identify the dominant rule/theme, and choose the safest compliant next step without over-thinking.
Exam snapshot (CIRO): 110 multiple-choice questions, 2 hours, proctored. Confirm current details in Resources.
Ready to drill now? Start here: CIRE Practice.
What CIRE is really testing
Most CIRE questions boil down to one of these “muscles”:
- Regulatory map: Is this a securities-law issue (CSA/provincial regulators) or a dealer conduct/market integrity issue (CIRO)?
- Client lifecycle: disclosure → KYC → suitability triggers → documentation → supervision/escalation
- Workflow discipline: what must happen first, what must be recorded, and what must be escalated
- Market mechanics: order → execution → confirmation → clearing → settlement (and where integrity risks show up)
- Product and risk literacy: managed products and derivatives basics at a practical level
Exam topic weights (high-level)
Use the published weights as your time-allocation guide:
- Overview of Canadian securities regulatory framework (10%)
- Prospective client relationships (10%)
- Scope of client relationships (15%)
- Client complaint handling and reporting (5%)
- Market and company analysis (8%)
- Market integrity, trade execution and settlement (12%)
- Securities, managed products, mutual funds and other investments (19%)
- Derivatives (5%)
- Conflicts of interest and ethics (16%)
Common question styles
- Best next step: what you do first (and what you document/escalate).
- Classification: retail vs institutional-like categories, complaint type, conflict type, or marketplace type.
- Workflow mechanics: settlement, clearing agencies, account and trade lifecycle.
- Best-fit decision: choose the action that satisfies all constraints (client facts, authority limits, red flags, timing).
- Light math: small, controlled calculations when needed (keep the concept first).
How to prepare (simple loop)
- Use the Syllabus as your checklist by topic.
- Build a one-page “rules engine” using the Cheatsheet (what to do next, what to document, what to escalate).
- Do short drills (untimed → timed). Every miss becomes a one-sentence rule.
- Finish weekly with a mixed set across all topics to force transfer.
Sources: https://www.ciro.ca/registered-individuals/proficiency/exam-hub and https://www.ciro.ca/registered-individuals/proficiency/exam-hub/canadian-investment-regulatory-exam-cire