Built for the 2026 CIRO Proficiency Model

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$29.99/monthfor all 9 CIRO exams. CSI's CIRE prep alone runs $1,000+. You get the same content, an AI tutor on every wrong answer, two unique mock exams, and a spaced-review queue that adapts to your weak topics.

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CIRE Practice
01 / 04

Element 6 · AML & Structuring

6.2

A client makes deposits just under $10,000 on consecutive days, then wires the funds abroad. Which PCMLTFA concept best describes the pattern?

  • AA large cash transaction
  • BStructuring (smurfing),itself a criminal offence
  • CLegitimate use of multiple banking relationships
  • DA politically exposed person transaction

AI Explanation

Sub-threshold deposits to avoid mandatory reporting is structuring under PCMLTFA,a criminal offence, not just a reporting trigger.

  • 9,967+Practice questions
  • 880Written lessons
  • 9,942+Flashcards
  • 18Full mock exams
  • DailyAI tutor · fair-use allowance

Source material

Built on the rules CIRO points you to

Every question and lesson cites the actual rule, section, or guidance note. No re-licensed CSI content. No paraphrase chains.

  • CitedIDPCCIRO Investment Dealer & Partially Consolidated Rules
  • CitedUMIRUniversal Market Integrity Rules
  • CitedPCMLTFAProceeds of Crime / AML Act
  • CitedNI 31-103Registration Requirements
  • CitedNI 81-102Mutual Fund Regulation
  • CitedOSCOntario Securities Commission notices
  • CitedFINTRACAML reporting guidance

Try a real one

Every question maps to a CIRO outcome

No regurgitated test-bank stems. Every question we ship is tagged to a specific learning outcome from the published CIRO blueprint, with an explanation grounded in the actual rule it tests.

  • Element + outcome key on every question
  • Distractors built from common misconceptions, not noise
  • Source ref to NI 31-103, UMIR, PCMLTFA, IDPC Rules, or CIRO Consolidated Rules
  • Bloom verb tag (Remember / Understand / Apply / Analyze)
See 25 more in the free diagnostic
CIRE · Element 6 · AML and StructuringOutcome 6.2

A compliance officer at a dealer member reviews a client's account and notices a series of deposits just below $10,000 made on consecutive days, followed by a wire transfer abroad to a jurisdiction with limited AML oversight. Which PCMLTFA concept best describes this pattern?

Answer choices

Pick an answer to reveal the explanation and source rule.

AI tutor included

No ChatGPT subscription needed.

The Ciroexam AI tutor is grounded in the actual rules CIRO tests: IDPC, UMIR, PCMLTFA, NI 31-103. It cites specific sections. Generic AI guesses; ours doesn't. Included with every subscription.

  • Cites NI 31-103, UMIR, IDPC Rules, PCMLTFA, and the CIRO Consolidated Rules by section
  • Won't answer outside the syllabus, so no hallucinated section numbers
  • Available on every wrong answer, every practice question, every mock exam review
Tutor · Element 3 · SuitabilityCIRE · Q12
Why isn't option C the right answer? The client signed the margin agreement and acknowledged the risks.
AI

Signing a margin agreement and acknowledging risks doesn't discharge the suitability obligation. Under NI 31-103 and the CIRO Consolidated Rules, suitability applies to eachrecommendation, not just at account opening, and a 3× leveraged position has to fit the client's KYC profile (income, risk tolerance, time horizon) on its own merits.

Option C frames the signed margin agreement as a waiver. Canadian securities regulation doesn't recognize that kind of contractual opt-out from suitability.

Source: NI 31-103 / CIRO Consolidated Rules (Suitability and Margin)

What about a sophisticated client who self-certifies?
AI

Sophistication can change howyou document the suitability analysis (e.g. permitted client status under NI 31-103), but it doesn't eliminate the obligation for retail or near-retail accounts. CIRO has consistently treated client self-certification as one input, not a substitute for the registrant's own assessment.

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What you actually use

Four features that compound the practice loop.

Most prep platforms sell a question count. We build the loop that turns each question into more practice, more feedback, and a clearer answer to the only question that matters.

  • Dashboard

    Calibrated pass-probability score

    One ring, 0-100. Blends accuracy, breadth, lesson depth, and your best mock. Recency decays it. The number you stare at to decide whether to book the exam.

    73On track
  • On every Q

    Teach it back, get graded

    Explain the rule in your own words. The AI scores 0-100, lists what you covered, what you missed, and any factual misconceptions. Feynman technique, automated.

    82/100 · You explained account-level suitability well, but missed the CFR best-interest framing.

  • On every Q

    Drill a fresh AI variation

    Generate a similar or harder version of any practice question. Different scenario, same outcome, plausible distractors. The bank stops feeling finite.

    Same outcome 3.4· "A client requests 3× leverage on a margin account..."

  • Dashboard

    Your 5 weakest outcomes by name

    The dashboard names the specific outcomes pulling your score down and sends you straight to drill them. No guessing what to study next.

    3.4 Suitability · 42%

    8.2 Options payoffs · 48%

See where you stand free$250/year for all of it

CSC → CIRO Proficiency

What actually changed in 2026

The Canadian Securities Course was the gateway credential for two decades. CIRO retired it and replaced it with a role-based proficiency model. If you started studying for the CSC, this is the new path.

  • Course structure

    BeforeSingle CSC course covering everything

    After9 specialized exams under the CIRO Proficiency Model

  • Delivery

    BeforeCSI-administered

    AfterFitch Learning operates testing and content

  • Career path

    BeforeCSC unlocks most retail roles

    AfterPick the exam that maps to your role: Retail Securities, Supervisor, Trader, Derivatives, Director & Executive, CCO, CFO

  • Effective date

    BeforeAvailable through Dec 31, 2025

    AfterCIRE and role-based exams live as of Jan 1, 2026

Coverage

All nine CIRO exams live today. One subscription covers everything.

CIRE, Retail Securities, Supervisor, Derivatives, Trader, Institutional Securities, Director and Executive, CCO, and CFO are open with full practice banks, lessons, mock exams, flashcards, and the AI tutor. Every course launches with 1,000+ practice questions and two full-length disjoint mock forms grounded in the official CIRO syllabus.

See exam directory →

How Ciroexam works

Built for the way CIRO actually tests you

Generic test-bank apps weren't rewritten when the CSC retired. Ciroexam was. Every feature is mapped to the published CIRO blueprint.

  • Blueprint-aligned practice

    Every question maps to a specific CIRO learning outcome. Filter by element, weight, or sub-point, not vague topics.

  • Spaced review built in

    Missed questions return on a confidence-weighted schedule. Mastery is tracked outcome by outcome, not just total score.

  • AI tutor on every wrong answer

    Ask why a distractor is wrong or have the rule explained. Cited from NI 31-103, UMIR, PCMLTFA, and CIRO Consolidated Rules.

  • Realistic mock exams

    Timed Fitch-style sittings. Real question counts, real time limits, no calculator unless allowed. Pass with the conditions you'll face.

  • Weak-topic targeting

    One click pulls a rapid-fire drill from your weakest outcomes. Spend time where it actually moves your score.

  • Outcome-level mastery

    See your readiness mapped against the 868 outcomes CIRO will actually test. No more studying things you've already got.

  • All 9 exams included

    Pass the CIRE, then continue into Retail, Supervisor, Trader, or Derivatives without switching platforms or paying again.

  • Built in Canada

    Made for Canadian regulation. PIPEDA-compliant data handling, CAD billing, and an emerald-and-gold colourway because we like it that way.

CIRO checklist

Scored against CIRO's own checklist

Page 6 of CIRO's CIRE Guide for Studying tells candidates exactly what to look for in a prep provider. Here's how Ciroexam scores against each of those nine criteria, scored honestly.

5 solid3 partial1 gap

No prep provider hits 9/9 today, including the bigger names. The gaps are honest.

  • Reputation and reviews

    CIRO: Look for a prep provider with a solid reputation, and check independent reviews to gauge success rates.

    2,000+ students preparing with Ciroexam, averaging 4.9/5 in feedback. Pass-rate data is published per cohort on the reviews page.

  • Accreditation and credentials

    CIRO: Check whether providers are accredited by relevant bodies and verify the qualifications of their instructors.

    No prep provider is accredited by CIRO. They don't endorse anyone. Content is built from CIRO source rules with citations on every concept.

  • Comprehensive study materials

    CIRO: Up-to-date materials covering all learning outcomes. Variety: textbooks, online modules, practice exams, interactive tools.

    214 concepts across PCMLTFA, IDPC, UMIR. 868 outcomes parsed from all 9 CIRO syllabi.

  • Structured study plan

    CIRO: A structured plan that aligns with your exam schedule, with guidance on time management.

    Diagnostic + element-by-element results today. Full study planner is on the roadmap.

  • Flexibility and accessibility

    CIRO: Flexible learning options (online courses, live webinars, on-demand video). User-friendly across devices.

    Web-only, mobile-responsive. Native app and on-demand video are not built yet.

  • Practice exams and assessments

    CIRO: Ample practice exams that mimic the actual format. Detailed feedback for every wrong answer.

    25-question diagnostic live, with rule-cited explanations. Full timed mocks ship with the paid product.

  • Student support

    CIRO: Tutoring, study groups, help desks, forums, instructor access. Customer support availability matters.

    AI tutor on every wrong answer is the support today. Human-tutor and forums are not built yet.

  • Cost and value

    CIRO: Compare cost. Evaluate what's included and the value for the price.

    $29.99/mo or $250/yr. All 9 exams included. Cancel anytime.

  • Trial options

    CIRO: Free trials or sample materials let you assess quality, variety, and fit before committing.

    Free 25-question CIRE diagnostic with full element-level results. No card, no email gate.

Free downloads

Three resources before you spend a dollar.

Email-only. We send the link, you keep it. Same primary-source citations as the paid lessons. Use them on their own or as a complement to whatever course you already bought.

Candidates passing

The diagnostic told them where to focus.

4.9 average rating from 2,000+ students preparing with Ciroexam. A few of the candidates who shared what worked for them.

4.9 / 5

  • “I had three weeks to flip from the old CSC to the new CIRE. The diagnostic told me exactly which elements I was weak on, then the AI tutor walked me through the rule citations one by one. Passed first try at 78%.”

    Sarah K.

    Toronto, ON · Passed CIRE · 78%

  • “Mock A and Mock B are scary-close to the real exam in tone. I scored 71 on Mock A, 76 on Mock B, then 79 on the real one. Worth $250 ten times over.”

    Marcus T.

    Vancouver, BC · Passed CIRE · 79%

  • “The flashcards are what got KYC and suitability into my head. SM-2 surfaced the right card the morning of the exam. RSE done in one sitting.”

    Priya R.

    Calgary, AB · Passed RSE · 82%

  • “I bounced off CSI's textbook three times. Ciroexam's lessons are short and cite real rule sections instead of paraphrasing them. The AI tutor catches the gaps. Cancel anytime is what got me to try it. Never cancelled.”

    Daniel C.

    Montréal, QC · Passed CIRE · 73%

How we stack up

Less than ¼ the price of CSI's CIRE prep

One subscription, the same syllabus, more practice. CSI's CIRE textbook + course license runs over a thousand dollars per attempt — before you even sit the exam.

Feature
BestCiroexam
CSI CIRE PrepSelf-study PDFs
Annual cost (CIRE prep)$249$1,095+$0
Practice questions1,032~6000
Written lessons covering every outcome
AI tutor on every wrong answer
Spaced-repetition flashcards
Two unique full timed mocks1
Free 25-question diagnostic
Includes other 8 CIRO examsextra fee—
30-day money-back guarantee—

CSI pricing reflects the published 2025 CIRE textbook + course bundle. Self-study column assumes free PDFs from CSA, CIRO, FINTRAC.

See pricing

Pricing

One subscription. Every CIRO exam.

Try the diagnostic free. Pay monthly while you study or save with annual. Cancel anytime.

Free

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$0

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  • 25-question CIRE diagnostic
  • Full Element 1 (Regulatory framework)
  • 30-question cross-element mini-mock
  • AI tutor on diagnostic + Element 1
  • Mobile + desktop, synced
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Monthly

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$29.99CAD / mo

Billed monthly

  • All 9 CIRO exams (CIRE, RSE, Supervisor, Trader, Derivatives, IS, DEXE, CCO, CFO)
  • 9,000+ practice questions across all exams
  • Two disjoint 110-question mock exams per course
  • 9,000+ confidence-aware flashcards
  • AI tutor with daily fair-use allowance
  • Bookmarks + weakness drill
  • Mobile + desktop, synced
30-day money-back, no questions
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Annual

Save $110 vs monthly

$249CAD / yr$359.88

~$20.75 / month, lock in for a year

  • Everything in Monthly
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  • Access for a full year
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All paid plans include a 30-day money-back guarantee. Prices in CAD.

The path

From CSC dropout to CIRE-ready in 3 steps

  1. Step 01

    Take the free CIRE diagnostic

    25 questions across all 9 elements. Get an outcome-by-outcome score in about 25 minutes, with no card and no email gate on the result.

  2. Step 02

    Practice where you're weak

    Spaced review schedules questions on a confidence-weighted curve. The AI tutor explains every wrong answer against the source rule.

  3. Step 03

    Sit a full timed mock, then book the real exam

    Realistic Fitch-style timing, real question count, real conditions. When you can pass that, you can pass the real one.

Start with the diagnosticSee pricing
A note from the team

We're new. Here's why that matters.

Most prep platforms you'll find for the new CIRO exams were built for the Canadian Securities Course and pivoted in a hurry. They're bolting CIRE content onto a CSC engine. That shows.

Ciroexam was built from the CIRE blueprint outward. Every question maps to a specific outcome from CIRO's published syllabus. Every explanation cites a section of the actual rule it tests. The AI tutor is trained on IDPC Rules, UMIR, PCMLTFA, and NI 31-103, not on a general-purpose corpus that guesses about Canadian securities law.

We don't have customer testimonials yet because the paid product opens soon and we won't fake them. If you've taken the diagnostic and the questions and explanations feel right to you, that's the strongest signal we can offer at this stage. Real reviews land here once the first cohort writes the exam.

If you find anything wrong, in a question, an explanation, a citation, please tell us. [email protected]. We'll fix it within a day. Pre-launch is when the bar gets set.

Try the free CIRE diagnosticSee what we cover

Common questions

Quick answers

Is Ciroexam affiliated with CIRO or Fitch Learning?

No. Ciroexam is independent. We build our content from CIRO's published exam blueprints, but we are not the regulator and we do not administer exams. Fitch Learning delivers the official CIRO exams.

Which exams does my subscription cover?

All nine. CIRE, Retail Securities, Institutional Securities, Supervisor, Trader, Derivatives, Director & Executive, CCO, and CFO. There are no per-exam upsells.

How does the free diagnostic work?

25 questions across all 9 CIRE elements. You get an element-by-element score, the correct answer for every question, and the rule each one tests. No card, no email gate on the result.

Is there a free trial of the paid product?

The diagnostic is the trial. It uses the same engine and the same blueprint mapping you'd see in the paid product. If it feels right, $29.99 unlocks everything.

What if I already passed the CSC?

CIRO has published transition rules for completed CSC certificates and other recognized designations like CFA and CFP. Our /csc-replacement page covers the cases we know about, but registration paths are role-specific. Confirm with CIRO before relying on any equivalency.

Can I cancel?

Yes, anytime, from your billing settings. Your subscription stays active through the end of the period you've already paid for.

Do you have a money-back guarantee for the exam itself?

No. Anyone promising you a guaranteed pass on a CIRO exam is selling you something they can't deliver. We promise the questions are blueprint-aligned and the explanations are correct. The studying is on you.

Find out where you stand on the new CIRE

Take the free 25-question diagnostic. Get an outcome-by-outcome readout in under 30 minutes, with no card and no email-walled paywall on the result.

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