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CSI CSC2 Exam Overview:
| Certification Vendor: | Canadian Securities Institute (CSI) |
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| Exam Name: | Canadian Securities Course Exam 2 |
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| Exam Number: | CSC2 |
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| Related Certifications: | Wealth Management Essentials (WME) Conduct and Practices Handbook Course (CPH) Canadian Securities Course Exam 1 (CSC1) |
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| Exam Duration: | 120 minutes |
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| Certificate Validity Period: | 3 years |
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| Real Exam Qty: | 100 |
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| Exam Price: | CAD 450 - CAD 550 |
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| Available Languages: | French, English |
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| Exam Format: | Multiple-choice questions, Computer-based, Scenario-based questions |
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| Passing Score: | 60% (600/1000) |
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| Recommended Training: | CSI Official Study Materials |
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| Exam Registration: | CSI Official Registration Prometric Test Center |
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| Sample Questions: | CSI CSC2 Sample Questions |
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| Exam Way: | Online proctored or onsite at Prometric test centers |
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| Pre Condition: | Completion of Canadian Securities Course Exam 1 (CSC1) |
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| Official Syllabus URL: | https://www.csi.ca/en/learning/courses/csc/exam-credits |
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| Topic | Details |
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| Topic 1 | - Portfolio Analysis: This section of the exam measures the skills of a Portfolio Manager and covers portfolio management approaches including risk and return measurement, portfolio optimization strategies, management styles, and the complete portfolio management process from objective setting to performance evaluation and rebalancing.
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| Topic 2 | - The Canadian Investment Marketplace: This section of the exam measures the skills of a Securities Industry Professional and covers the structure and operation of Canada's investment marketplace. It includes the roles of investment dealers and financial intermediaries, capital market functions, financial instruments, and the complete Canadian regulatory environment with its regulatory bodies, principles of regulation, client remediation options, and ethical standards for financial services professionals.
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| Topic 3 | - Analysis of Managed and Structured Products: This section of the exam measures the skills of an Investment Products Specialist and covers mutual funds, exchange-traded funds, alternative investments, structured products, and other managed products including their structures, regulations, features, risks, strategies, performance measurement, and tax implications within the Canadian investment landscape.
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| Topic 4 | - Investment Analysis: This section of the exam measures the skills of a Research Analyst and covers both fundamental and technical analysis methods, including macroeconomic, industry and company analysis techniques, financial statement interpretation, ratio analysis, and security valuation approaches.
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| Topic 5 | - Additional Topics: This section of the exam measures the skills of a Wealth Management Professional and covers Canadian taxation systems, tax-advantaged accounts, fee-based account structures, retail client financial planning and estate planning, institutional client management, and ethical standards for financial advisors serving both individual and institutional clients.
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| Topic 6 | - The Economy: This section of the exam measures the skills of an Economic Analyst and covers fundamental economic concepts including microeconomics and macroeconomics, economic growth measurement, business cycles, labor markets, interest rates, inflation, international trade, and both fiscal and monetary policy with emphasis on the Bank of Canada's role and government policy challenges.
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| Topic 7 | - Investment Products: This section of the exam measures the skills of an Investment Products Analyst and covers fixed-income securities features, pricing, and trading; equity securities including common and preferred shares; derivatives including options, forwards, futures, rights and warrants; and the characteristics and uses of all these investment instruments in Canadian markets.
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CSI Canadian Securities Course Exam2 Sample Questions (Q143-Q148):
NEW QUESTION # 143
What is unique to responsible investment?
- A. ESG factors are standardized across the investment no industry.
- B. A combination of a values and valuation-based approach to investing
- C. It is unavailable with certain asset classes like segregated fundi
- D. It bases investment decisions exclusively on environmental factors.
Answer: B
Explanation:
Responsible investing (RI) incorporatesenvironmental, social, and governance (ESG) factorsinto investment decisions. This approach combinesvalues-basedinvesting (aligning investments with personal or institutional ethics) andvaluation-basedinvesting (analyzing ESG factors to assess potential risks and returns).
* A. It is unavailable with certain asset classes like segregated funds: RI is increasingly available across various asset classes, including segregated funds.
* B. ESG factors are standardized across the investment industry: ESG standards vary and are not uniformly applied.
* D. It bases investment decisions exclusively on environmental factors: RI considers environmental, social, and governance factors, not just environmental concerns.
NEW QUESTION # 144
How is the ex-port real rate of return calculated?
- A. The ex-ante nominal rate of return minus the annual inflation rate.
- B. The ex-post nominal rate of return minus the annual inflation rate.
- C. The ex-post nominal rate of return minus the risk-free rate.
- D. The ex-ante nominal rate of return adjusted by portfolio beta.
Answer: B
Explanation:
Theex-post real rate of returnis a backward-looking measure calculated after the fact, using historical data.
It reflects the actual nominal rate of return adjusted for the actual rate of inflation over the same period. The formula is:
Ex-post real return=Nominal return#Inflation rate\text{Ex-post real return} = \text{Nominal return} - \text
{Inflation rate}Ex-post real return=Nominal return#Inflation rate
This measure helps assess the purchasing power of returns after accounting for inflation.
Other options are incorrect:
* A and Cdescribeex-antemeasures (forward-looking expectations).
* Bcalculates the nominal excess return above the risk-free rate, not the real return.
NEW QUESTION # 145
Which factor would deter an investor from investing in a company's convertible preferred shares?
- A. The equity per preferred share decreased to three times the value of assets.
- B. Common stock outlook has been downgraded.
- C. Long life of the conversion privilege.
- D. High preferred dividend coverage ratio.
Answer: B
Explanation:
Convertible preferred shares combine preferred share income features with the option to convert into common shares. Their attractiveness depends heavily on the outlook for the issuer's common stock because the conversion privilege becomes valuable only if the common shares perform well. If the common stock outlook has been downgraded, the conversion feature becomes less attractive and the investor may be deterred from buying the convertible preferred shares. A long conversion privilege is generally positive because it gives the investor more time for the common shares to appreciate. A high preferred dividend coverage ratio is also favourable because it suggests stronger dividend protection.
Therefore, the downgraded common stock outlook is the best deterrent.
NEW QUESTION # 146
Over the previous three calendar years, fund LMO had five drawdowns as follows:

What was the maximum drawdown during this time period?
- A. 52.50%
- B. 22.50%
- C. 18.00%
- D. 21.25%
Answer: C
NEW QUESTION # 147
The following table outlines the life cycle hypothesis profiles of various investors:
Investor A: Short-term investment goals; light personal commitments.
Investor B: Short-term investment goals; high personal commitments.
Investor C: Medium-term investment goals; light to moderate personal commitments.
Investor D: Long-term investment goals; moderate personal commitments.
All else being equal, which investor is most likely to increase equity allocations?
- A. Investor D.
- B. Investor A.
- C. Investor C.
- D. Investor B.
Answer: A
Explanation:
Under the life cycle approach to portfolio planning, investors with longer time horizons can normally accept higher equity allocations because they have more time to withstand volatility and recover from market declines. Personal commitments also matter because high family or financial obligations reduce risk capacity. Investor D has long-term investment goals and only moderate personal commitments, making this investor better positioned to hold or increase equity exposure. Investor A has light commitments but a short-term goal, which limits equity suitability. Investor B has both short-term goals and high commitments, making equities least suitable. Investor C has a medium-term horizon and moderate commitments, but still has less risk capacity than Investor D. Therefore, Investor D is the best answer.
NEW QUESTION # 148
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