HKSI Paper 1: 3 Free Practice Questions

Updated 11 October 20264 min read

Key takeaway

Answer 3 original Sitonce questions without an account, then check your score and read the explanations.

This small study sample helps you spot ideas to review.
It does not reproduce the full examination or predict a pass.
The separate full course provides lessons and further practice.

These are original Sitonce study questions, not official or recalled exam items. No account is needed to answer this public sample or read its explanations.

Start the 3-question sample

Your 3-question practice sample

Choose one answer per question. You can change your choices before checking your score. A blank earns zero.

Question 1 of 3A firm advises listed issuers on their obligations under the Takeovers Code and acts as a sponsor on new listing applications. Which Type of regulated activity does that work fall under?

Type 1, dealing in securitiesType 4, advising on securitiesType 6, advising on corporate financeType 9, asset management

Answer and explanation for question 1

Answer: C. Advising on corporate finance covers takeovers work and sponsor work, and Type 6 licensees are subject to the Corporate Finance Adviser Code of Conduct as well as the general Code. Option B is the nearest neighbour and the most common swap: advising on securities is advice to investors about buying and selling, not advice to an issuer about a corporate transaction. Option A is execution rather than advice. Option D is discretionary management of client portfolios, which is a different relationship entirely.

SFC licensing activity table: Type 6 corporate-finance advice · SFC Corporate Finance Adviser Code 1.2(a), 1.5 and 4.4: takeover, listing and sponsorship scope

Question 2 of 3An SFC investigation into a licensed corporation finds that its dealing procedures were adequate on paper but that no one at board or executive level had ever set, monitored or enforced standards of conduct. Which General Principle is most directly engaged?

General Principle 1, honesty and fairnessGeneral Principle 3, capabilitiesGeneral Principle 7, complianceGeneral Principle 9, responsibility of senior management

Answer and explanation for question 2

Answer: D. General Principle 9 places primary responsibility for maintaining appropriate standards of conduct and for adherence to procedures on senior management, and it is the principle that underpins the Internal Control Guidelines. Option B is about having adequate resources and procedures, which the firm did have, so it is a near miss rather than a wrong idea. Option C is compliance with regulatory requirements generally, which is too broad to be the best answer. Option A is the overarching principle and would apply to almost any misconduct, which is exactly what makes it a poor answer to a specific question.

SFC January 2026 Code of Conduct: General Principle 9

Question 3 of 3At a small licensed corporation, one settlements officer enters trades into the system, instructs the payment, and performs the daily reconciliation. Which control is missing?

Segregation of dutiesAn annual compliance training programmeAn external audit of the annual accountsA confidential whistleblowing channel

Answer and explanation for question 3

Answer: A. Segregation of duties separates transaction entry, payment and reconciliation so one person does not control the whole transaction. Training alone does not create that separation; periodic external audit and a reporting channel do not replace the preventive control.

SFC Internal Control Guidelines, section II: segregation of duties

Your topic scorecard

Correct answers out of the questions sampled in each topic; Items lists the question numbers
Topic	Items	Score
Regulated activities	1	? / 1
Management and internal controls	2, 3	? / 2
Total	1-3	? / 3

This three-question introduction samples Type 6 corporate-finance activities, senior-management responsibility and segregation of duties. It does not test SFC statutory intervention/investigation powers, market misconduct or the complete Paper 1 syllabus. A perfect score only means you answered this small sample correctly. It does not establish exam readiness or predict a pass.

For each missed answer, write the controlling fact or rule in one sentence. Then work through an unfamiliar question on the same topic. Repeating this answer key from memory is not the same as learning the rule.

Continue with the full course

The public sample is a small part of your preparation. View the separate HKSI LE Paper 1 course for its lessons, practice and full mock options. Account and course-access requirements apply to those separate features.

Common questions

Do I need an account for these questions?

No. The questions and answer explanations are public. Automatic scoring is optional; without JavaScript you can use the answer explanations and manual scorecard.

Does this score predict whether I will pass?

No. This short sample is not weighted or calibrated to predict an official result. Use missed answers to choose what to review next.

Is the full course the same as this sample?

The full course is a separate learning experience with lessons, practice and mock options. Follow View course to see its access requirements and current offer.