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WME Exam 2 Tips: How to Handle the Case Studies
The short answer: WME (Wealth Management Essentials) Exam 2 is a 3-hour exam with 65 multiple-choice questions built around multiple client cases, and you need 60% to pass. Almost half the marks come from two areas — getting to know the client (23%) and retirement and estate planning (23%). Below: the official format and weighting, then practical tips for reading and answering case questions.
WME Exam 1 vs Exam 2 at a glance
| Exam 1 | Exam 2 | |
|---|---|---|
| Questions | 100 | 65 |
| Question type | Multiple-choice | Multiple cases with multiple-choice questions |
| Time | 3 hours | 3 hours |
| Pass mark | 60% | 60% |
| Attempts allowed | 3 | 3 |
| Delivery | Proctored, remote or in person at a test centre | |
The key difference is time per question. Exam 1 gives you about 1.8 minutes per question; Exam 2 gives you about 2.8 minutes, because you have to read and analyse the cases. CSI does not publish how many cases appear or how many questions each case has, so be wary of anyone quoting exact numbers.
WME Exam 2 weighting
| Exam 2 topic | Weighting | Exam 1 (for comparison) |
|---|---|---|
| Getting to Know the Client and Assessing Their Financial Situation | 23% | 19% |
| Retirement & Estate Planning | 23% | 17% + 8% (listed separately) |
| Family Law, Risk Management and Tax Planning | 14% | 16% |
| Equity and Debt Securities | 14% | 14% |
| Managed Products, Portfolio Monitoring and Evaluation | 14% | 14% |
| Investment Management and Asset Allocation | 12% | 12% |
Compared with Exam 1, Exam 2 leans harder on client discovery (up from 19% to 23%). That fits the case format: many questions start with "given this client's situation…".
Tips for the case studies
1. Read the question before the case
Skim the questions attached to a case first, then read the case. You'll know which details matter — ages, marital status, income, registered-plan balances, goals, risk tolerance — and you won't waste time on background that no question uses.
2. Build a quick client snapshot
Jot down a few lines for each case: who the clients are, their timeline, their objectives, constraints, and any red flags (debt, a dependent, a business, a family-law issue). Several questions usually draw on the same facts, so a snapshot saves re-reading.
3. Answer for this client, not in general
Case questions often include options that are true in general but wrong for the client in front of you. Before picking, ask: does this fit their goals, time horizon and risk profile as described?
4. Expect topics to mix
Real client situations cross boundaries — a retirement question can depend on tax, family law or insurance. Since retirement and estate planning is 23% of Exam 2, make sure you can connect it to tax planning and risk management rather than studying each chapter in isolation.
5. Watch the clock per case, not per question
With roughly 2.8 minutes per question on average, give each case a time budget based on how many questions it has. If one case is eating your time, flag the hard question and move on — every question is worth the same.
6. Practise with application-style questions
Definitions alone won't get you through Exam 2. Practise questions that make you apply a concept to a situation, and always read the explanation to see why the other choices are wrong for that client.
Practise both WME exams with SmartExam
SmartExam has separate WME Exam 1 and WME Exam 2 banks. Every answer has an explanation, a topic-by-topic report after each session shows where you lost marks, and you can choose 20, 50 or 100-question sessions — offline. For the overall course picture, read our WME exam prep guide; if you're deciding between paths after the 2026 changes, see CSC vs CIRE.
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Frequently asked questions
What is the format of WME Exam 2?
According to CSI, WME Exam 2 is a 3-hour proctored exam with 65 questions presented as multiple cases with multiple-choice questions. The pass mark is 60%.
How many case studies are on WME Exam 2?
CSI does not publish the number of cases or how many questions each case has. It describes the exam only as 'multiple cases with multiple-choice questions'.
What is the WME exam weighting?
For Exam 2, CSI lists: Getting to Know the Client and Assessing Their Financial Situation 23%, Retirement and Estate Planning 23%, Family Law, Risk Management and Tax Planning 14%, Equity and Debt Securities 14%, Managed Products, Portfolio Monitoring and Evaluation 14%, and Investment Management and Asset Allocation 12%.
Is WME still required in 2026?
CSI states WME is no longer acceptable for CIRO approval with an investment dealer from January 1, 2026. People who already had a WME requirement can complete WME by the earlier of their deadline or December 31, 2026, or take CIRO's Retail Securities Exam instead. CSI positions WME as a foundation for designations such as the PFP, CIWM and CIM.
Sources
- CSI — WME exam details and weightings: csi.ca/en/learning/courses/wme/exam-credits
- CSI — WME course page (2026 CIRO notice, designations): csi.ca/en/learning/courses/wme
- CIRO — Investment Dealer and Partially Consolidated Rules, Rule 2629 (PDF): ciro.ca/media/12626
- CIRO — Guidance GN-2600-25-001: ciro.ca/newsroom/publications/…
Information checked October 13, 2026. Confirm exam details with CSI before you book.
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