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Hong KongUnderstand the syllabus
Clear lessons follow the published blueprint and keep the source beside the rule.
Hong Kong Securities and Investment Institute (HKSI Institute)
HKSI LE Paper 1 Full Exam Prep
600questions in the bank
5timed mock exams
9 of 9syllabus topics covered
SFC licence to work in regulated finance in Hong Kong
Free account needed. Sign in to open the first topic.
Built around the published syllabus
Every lesson and question maps to the HKSI LE Paper 1 syllabus, so your study time follows the topics the examiner says can be tested.
Every answer names its source
Each explanation cites the provision it rests on, so you can go and read the rule rather than take our word for it.
Current edition
Written against Syllabus v3.5; SFO (Cap. 571) and SFC codes as in force, in force from 1 January 2026.
Exam format
The practical details to plan your sitting and timed practice.
- Questions
- 60
- Time
- 90 minutes
- Pass mark
- 70% i42 correct answers out of 60.
- Format
- Multiple choice · Closed book · Computer-based iMultiple choice, computer-based, closed book
- Languages
- English and Traditional Chinese
The study flow
See what studying with Sitonce looks like
Learn the syllabus, practice each topic, sit a realistic paper and turn every mistake into the next thing to study.
Practice with explanations
Topic questions show why the answer works and why the alternatives fail.
Rehearse the real paper
Full timed papers use a separate question pool and the published format.
Turn mistakes into a plan
Weak topics, flagged questions and worked answers become a focused review list.
What you get
HKD 680 for 12 months. Everything needed to learn, practice, simulate the paper and review weak areas.
The syllabus, taught
Every examinable topic, with sources beside the rules that matter.
Questions to drill
Topic practice that follows each lesson and exposes weak areas.
Full mock papers
60 questions in 90 minutes, using a separate question pool.
Worked review notes
The answer, the reasoning, why the alternatives fail, and the source.
Printable documents
The study guide and every mock paper, ready for paper.
A plan built round your date
Your study order and readiness update around the date you plan to sit.
Printable study kit
Keep the full course on paper
6 documents built for printing, annotation and timed practice away from the screen.
Every topic, and how heavily it is examined All 9 covered, with each topic's share of the 60 questions on the real paper
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1
2 q
Topic 1 - Regulatory overview of the Hong Kong financial industry
Financial products and services, and their regulation · Regulatory authorities · Securities and Futures Commission · Hong Kong Exchanges and Clearing Limited · Participants and intermediaries
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2
2 q
Topic 2 - Principles of relevant Hong Kong law and the Companies Ordinance
Outline of Hong Kong's legal system · Companies Ordinance and related matters
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3
8 q
Topic 3 - Securities and Futures Ordinance
Background and Part I Preliminary · Part II The SFC · Parts III and IIIA Exchanges, clearing houses and OTC derivatives · Parts IV and IVA Offers of investments and OFCs · Part V Licensing and registration · Part VI Capital, client assets, records and audit · Part VII Business conduct · Parts VIII to XI Supervision, discipline, intervention and appeals · Part XII Investor compensation · Parts XIII to XIVA Market misconduct and inside information · Parts XV to XVII Disclosure of interests and miscellaneous
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4
14 q
Topic 4 - Licensing and registration, and subsidiary legislation
Licensing and registration requirements · Capital requirements · Client securities · Client money · Keeping of records · Contract notes, statements of account and receipts · Audit · Regulated activities · OTC derivative reporting and clearing · Open-ended fund companies
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5
11 q
Topic 5 - Business conduct and client relations
Code of Conduct for Persons Licensed by or Registered with the SFC · Fund Manager Code of Conduct · Corporate Finance Adviser Code of Conduct · Code of Conduct for Persons Providing Credit Rating Services · Code on Open-Ended Fund Companies · Code of Conduct for Share Registrars
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6
10 q
Topic 6 - Business operations and practices
Management, Supervision and Internal Control Guidelines · Anti-money laundering and counter-terrorist financing · Electronic trading and alternative liquidity pools · Personal Data (Privacy) Ordinance · Compliance and governance · Other operational matters
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7
6 q
Topic 7 - Participating in the Hong Kong exchanges
HKEX · Dealing in securities listed on SEHK · Traded options on the SEHK · Dealing in futures contracts · Trading and marketing
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8
4 q
Topic 8 - Accessing public capital
Rules governing listing · Other types of listed securities · Takeovers, mergers and share buy-backs · SFC authorised products · Alternative methods of accessing public capital
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9
3 q
Topic 9 - Market misconduct and improper trading practices
Market misconduct under the SFO · Consequences of market misconduct · Unsolicited calls · Improper trading practices · Enforcement actions
Try it before you decide
1
Try the first topic
Read up to five subtopics from the real course and answer the questions that follow them. Free account required.
Open the free lesson
3
Continue through the whole exam
Unlock every lesson, practice question, worked explanation, mock paper and printable document.
Before you buy
Is this everything I need, or do I still need the official material?
Yes. The course is designed to take you from the published syllabus through lessons, practice, worked explanations, timed mock papers and final review without needing another study product. It covers all 9 topics and includes 600 questions. Sitonce is independent of the bodies that administer and accredit this exam, so you should still use their official websites for registration rules, appointment details and official updates.
Where do the answers come from?
Every explanation names the provision it rests on and quotes it where quoting is allowed, so you can go and read the rule. Where we have not been able to put the underlying text in front of you, the page says so rather than implying a source it does not have.
How long will I need?
Our estimate for this paper is about 42 hours - 3 hours a day for 2 weeks. That is our estimate, not an official figure. Tell us your exam date when you start and the plan, the reminders and the readiness score are all worked back from it.
Can I see it before I pay?
Yes. With a free account, you can read five subtopics from the first lesson, preview the study guide and try one complete 60-question mock paper. The full course adds every lesson, the complete practice bank, worked explanations, 4 more mock papers and the printable study kit.
What happens if I fail?
Your access runs 12 months, which covers a resit; another sitting may cost HKD 1,800. The final-review screen orders what you got wrong by what each mistake costs on the paper, which is where a second attempt should start.
Can I get a refund?
Full refund within 7 days if no more than 20% of paid lessons and practice are used, no paid study guide is downloaded, and no more than one paid mock is started.
How current is it?
Written against Syllabus v3.5; SFO (Cap. 571) and SFC codes as in force, in force from 1 January 2026. The syllabus edition every page is written to is printed on the page, so you can tell at a glance whether what you are reading is the current one.
HKSI LE Paper 1 · HKD 680 for 12 months
The first lesson is free with an account.