Home › Guides › CSC Exam Format
CSC Exam Format Explained: Questions, Time & Passing Grade (2026)
The short answer: The Canadian Securities Course has two exams — CSC Exam 1 and CSC Exam 2. Each contains 100 multiple-choice questions, runs 2 hours, and requires 60% to pass. You get three attempts per exam, and you must finish both within your enrolment period (about one year). There are no essays or written answers — every question is multiple choice.
The CSC exam at a glance
| Feature | Detail |
|---|---|
| Number of exams | 2 (Exam 1 and Exam 2) |
| Questions per exam | 100 multiple-choice |
| Time per exam | 2 hours |
| Passing grade | 60% (each exam) |
| Attempts allowed | 3 per exam |
| Completion window | ~1 year (enrolment period) |
| Question type | Multiple choice only |
What's on Exam 1 vs Exam 2?
The course is split so that each exam covers roughly half the curriculum:
- CSC Exam 1 tends to focus on the Canadian securities industry, the economy, features of fixed-income securities (bonds), and equity securities (stocks) and how they trade.
- CSC Exam 2 tends to focus on derivatives, financial statement analysis, mutual funds and other managed products, and portfolio management.
Many candidates find Exam 2 the tougher of the two, because it leans more on analysis and calculation than pure recall. Plan a little extra study time for it.
How is the CSC scored?
Each exam is scored out of 100%, and you need 60% to pass. The two exams are scored separately — you must pass each one on its own. Because it's entirely multiple choice, there's no penalty for guessing, so you should never leave a question blank.
Attempts and timeline
You're given three attempts at each exam within your enrolment period. If you don't pass on the first try, you can re-sit — but retakes cost additional fees and time, so the goal is always to pass first time. You also need to complete both exams before your enrolment window (about a year) closes.
What to expect on exam day
The CSC exams are computer-based. You'll answer on screen, can move between questions, and can flag questions to revisit before you submit. Because there are 100 questions in 120 minutes, you have about 1.2 minutes per question — a comfortable pace if you don't get stuck, but tight if you dwell. A simple rule: at the one-hour mark, you should be near question 50.
How to prepare for the format
Knowing the format is step one; the next step is getting comfortable inside it. The best way to do that is to practise with timed, 100-question, exam-style sets so the real thing feels familiar.
That's exactly what SmartExam is built for: you can run 20, 50, or 100-question sessions, get instant explanations for every answer, and get a topic-by-topic report after every quiz that shows where you're losing marks — so you walk in knowing the format cold.
👉 Download SmartExam on the App Store — 3,800+ CSC practice questions across Exam 1 and Exam 2 on an All Access subscription — CA$15.99/month with a 7-day free trial.
Ready to study? Read our step-by-step guide to passing the CSC.
Frequently asked questions
How many questions are on the CSC exam?
100 multiple-choice questions on each of the two exams (200 in total).
How long is the CSC exam?
Each exam is 2 hours.
What is the passing grade for the CSC?
60% on each exam.
How many times can I retake the CSC?
You get three attempts per exam.
Is the CSC multiple choice?
Yes — entirely multiple choice, with no written or essay questions.
SmartExam is an independent study tool. It is not affiliated with, endorsed by, or sponsored by the Canadian Securities Institute (CSI) or any certification body. All trademarks are the property of their respective owners.