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CISI Corporate Finance Regulation — Information & Free Practice

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About CISI Corporate Finance Regulation

CISI Corporate Finance Regulation · GB

Key exam facts

Provider
Chartered Institute for Securities & Investment (CISI), examination owner and awarding body; the Corporate Finance programme is developed in partnership with ICAEW.
Format
Computer-based multiple-choice examination, available at test centres or by remote invigilation.
Exam questions
Total questions: 50–55; Scored questions: 50; Unscored questions: 0–5; The total includes the scored and unscored questions.
Time limit
1 hour for 50 questions; proportionately more time when additional trial questions are included.
Passing score
70%: pass 35–50 marks; fail 0–34. The 78% pass rate is not the passing score.
Exam fee
UK exam fee £245 GBP, 1 April 2026–31 March 2027. Mandatory workbook £105 separately; Link pack £138; saver package £365. One-off first-qualification registration fee £68 where applicable.

Topics covered

  • The Regulatory Environment in the UK (28%)

    • The Regulatory Infrastructure
    • Company Law
    • The UK Markets in Financial Instruments Directive (UK MiFID)

  • Managing Regulatory Obligations (32%)

    • The application and general provisions of the FCA’s Conduct of Business Sourcebook to corporate finance business
    • The Financial Promotion Rules
    • The Prospectus Regulation Rules
    • Client Categorisation
    • Conflicts of Interest (SYSC 10, PRIN 2.1)
    • Personal Account Dealing (COBS 11.7)
    • Advising and Dealing (COBS 9 & COBS 11)
    • Money Laundering, Counter Terrorism and Bribery
    • Insider Dealing
    • Market Abuse

  • Corporate Governance (10%)

    • The UK Corporate Governance Code (2024)
    • The QCA Corporate Governance Code
    • The Wates Corporate Governance Principles
    • The UK Stewardship Code
    • Environmental, Social, Governance (ESG)

  • Takeovers and Mergers (14%)

    • Relevant Bodies
    • The Takeover Code

  • Equity Capital Markets (16%)

    • Regulation of UK Equity Capital Markets
    • Rules Specific to AIM Market

How to prepare

Work through the topics, read the explanation after each answer, and revisit the areas where you miss questions. Use the official outline and reference materials below to guide your study.

These independent practice questions are not actual exam items and do not guarantee a passing result.

Frequently asked questions

What is the exam format?

Computer-based multiple-choice examination, available at test centres or by remote invigilation.

How many questions are on the exam?

Total questions: 50–55; Scored questions: 50; Unscored questions: 0–5; The total includes the scored and unscored questions.

How long is the exam?

1 hour for 50 questions; proportionately more time when additional trial questions are included.

What is the passing score?

70%: pass 35–50 marks; fail 0–34. The 78% pass rate is not the passing score.

How much does the exam cost?

UK exam fee £245 GBP, 1 April 2026–31 March 2027. Mandatory workbook £105 separately; Link pack £138; saver package £365. One-off first-qualification registration fee £68 where applicable.

Official sources and references

Confirm current exam arrangements with the exam provider.