HKSI LE Paper 1 Exam Blueprint and Practice Map
Review the official HKSI LE Paper 1 format, nine syllabus topics, current Study Guide version 3.5, and Finance Prep's labelled 704-question practice allocation.
Official exam snapshot
| Item | Current public HKSI Institute information |
|---|---|
| Examination | LE Paper 1: Fundamentals of Securities and Futures Regulation |
| Questions | 60 multiple-choice questions |
| Time | 90 minutes |
| Pass mark | 70% |
| Delivery | Computer-based examination |
| Question languages | English and Traditional Chinese |
| Current basis | Study Guide version 3.5; examinations from June 30, 2026 |
| Scope | Nine syllabus topics |
Nine official syllabus topics
| Topic | Main decision area |
|---|---|
| 1. Regulatory overview | Products, services, authorities, the SFC, HKEX, and market participants |
| 2. Relevant Hong Kong law and Companies Ordinance | Legal-system principles, company law, authority, duties, and corporate records |
| 3. Securities and Futures Ordinance | SFO structure, regulatory bodies, offers, licensing, client assets, investigations, discipline, compensation, and misconduct |
| 4. Licensing, registration, and subsidiary legislation | Regulated activities, corporate and individual status, competence, approvals, exemptions, and ongoing obligations |
| 5. Business conduct and client relations | Codes, client agreements, suitability, disclosure, conflicts, complaints, and fair treatment |
| 6. Business operations and practices | Controls, client assets, records, risk, audit, outsourcing, and operational evidence |
| 7. Participating in Hong Kong exchanges | Participant status, trading, clearing, settlement, custody, and exchange-rule responsibilities |
| 8. Accessing public capital | Offers, prospectuses, listing and disclosure processes, intermediaries, and issuer responsibilities |
| 9. Market misconduct and improper trading | Insider dealing, false trading, price rigging, manipulation, disclosure offences, enforcement routes, and consequences |
Finance Prep practice allocation
HKSI Institute publishes the topics but does not publish topic-level exam percentages. The table below describes Finance Prep’s 704-question bank, not an official prediction of live-exam distribution.
| Topic | Questions in the bank | Practice share |
|---|---|---|
| Regulatory Overview of the Hong Kong Financial Industry | 48 | 6.8% |
| Relevant Hong Kong Law and the Companies Ordinance | 56 | 8.0% |
| Securities and Futures Ordinance | 76 | 10.8% |
| Licensing, Registration, and Subsidiary Legislation | 128 | 18.2% |
| Business Conduct and Client Relations | 84 | 11.9% |
| Business Operations and Practices | 80 | 11.4% |
| Participating in Hong Kong Exchanges | 60 | 8.5% |
| Accessing Public Capital | 112 | 15.9% |
| Market Misconduct and Improper Trading Practices | 60 | 8.5% |
Timing checkpoints
Ninety minutes allows an average of 90 seconds per question. A practical plan reserves the final 10 minutes for review.
| Checkpoint | Target elapsed time |
|---|---|
| Question 10 | 13 minutes |
| Question 20 | 25 minutes |
| Question 30 | 38 minutes |
| Question 40 | 50 minutes |
| Question 50 | 63 minutes |
| Question 60 | 80 minutes |
| Review | 10 minutes |
Use the free 60-question practice exam for a timed diagnostic, then use the study plan to convert misses into topic-specific work.