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HKSI LE Paper 1 guide

HKSI Paper 1: the licensing exam you must pass to work in regulated finance in Hong Kong.

Overview

Questions: 60
Questions presented
Time: 90min
Exam time
Format: Multiple choice
Closed book
Pass mark: 70%
42/60 correct

The nine topicsOpen the published blueprint

Topic	Syllabus headings	Questions on the paper
1. Regulatory overview of the Hong Kong financial industry	5	2
2. Principles of relevant Hong Kong law and the Companies Ordinance	2	2
3. Securities and Futures Ordinance	11	8
4. Licensing and registration, and subsidiary legislation	10	14
5. Business conduct and client relations	6	11
6. Business operations and practices	6	10
7. Participating in the Hong Kong exchanges	5	6
8. Accessing public capital	5	4
9. Market misconduct and improper trading practices	5	3

Guide topics

Start hereHKSI Paper 1 Master Guide 2026Eligibility, 2026 sittings, cost, syllabus, scoring and preparation. Free practiceHKSI LE Paper 1: 3 free practice questionsAnswer without an account, check your score and read the explanations.

Exam overview

What Paper 1 is, what it costs, how you book it and what happens after.

Exam difficulty

What the published monthly pass rates actually say, and how long people really need.

Exam topics

All nine topics, and the ordinances and codes each of them turns on.

Study plans

How to prepare for a closed-book regulatory paper around a working week.

Practice tips

How these questions are built, and where the marks are lost.

SFC licensing

What the paper gets you, what the SFC adds on top, and how sponsorship works.

Careers and pay

What the licence lets you do, what it asks of you every year, and the route to responsible officer.

Comparisons

Course providers, question banks, and the papers people weigh this one against.

Common questions

The questions candidates ask before they enrol.

Start with these five