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CIRO RSE exam : Retail Securities Exam

RSE Exam Simulator
  • Exam Code: RSE
  • Exam Name: Retail Securities Exam
  • Updated: Sep 25, 2026
  • Q & A: 122 Questions and Answers
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CIRO RSE Exam Syllabus Topics:

SectionWeightObjectives
Investment RecommendationsApproximately 11.7%- Product selection
- Recommendation development
- Client communication
Portfolio ConstructionApproximately 10.8%- Asset allocation
- Diversification
- Portfolio risk management
Monitoring, Reporting and Maintaining Client RelationshipsApproximately 5.8%- Client relationship management
- Account monitoring
- Performance reporting
- Ongoing suitability review
Execution and Market IntegrityApproximately 5.8%- Order handling
- Best execution
- Market integrity rules
Securities AnalysisApproximately 11.7%- Technical analysis
- Financial statement interpretation
- Fundamental analysis
EquitiesApproximately 10%- Valuation concepts
- Common and preferred shares
- Equity markets
Know-Your-Client (KYC) and SuitabilityApproximately 22.5%- Client profile collection and maintenance
- Know-Your-Product (KYP)
- Regulatory obligations
- Suitability assessment
- Investment objectives and risk tolerance
Fixed IncomeApproximately 8.3%- Government and corporate bonds
- Yield and pricing
- Credit risk
- Interest rate risk
Managed Products and Other InvestmentsApproximately 13.3%- Exchange-traded funds (ETFs)
- Alternative investments
- Structured products
- Mutual funds

CIRO Retail Securities Sample Questions:

Question #1

An Investment Dealer is redeeming a managed product for a $110,000 gain. Calculate the capital gains tax the investor is liable for if they have a marginal tax rate of 40%?

  • A. $55,000
  • B. $22,000
  • C. $60,000
  • D. $44,000
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #2

A Registered Representative (RR) places a large order for a stock in their personal account before placing the same order for a client. What Universal Market Integrity Rules (UMIR) violation is this most likely to be?

  • A. Wash trading
  • B. High-frequency trading
  • C. Front running
  • D. Spoofing
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

Which managed product allows investors to gain intraday diversified exposure with active or passive management?

  • A. Exchange-traded funds (ETFs)
  • B. Pooled funds
  • C. Mutual funds
  • D. Income trusts
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #4

Which of the following best describes the type of market data typically provided by an equity exchange such as the Toronto Stock Exchange (TSX)?

  • A. Regulatory filings and continuous disclosure reports
  • B. Only end-of-day summary prices and trading volumes
  • C. Only historical pricing data from the previous month
  • D. Real-time trade prices, bid-ask spreads and trading volumes
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Explanation: Only visible for ITExamSimulator members. You can sign-up / login (it's free).

Question #5

A company reports current assets of $1,200,000, including inventory of $300,000 and prepaid expenses of
$100,000. Current liabilities are $500,000. What is the company's quick ratio?

  • A. 1.40
  • B. 1.60
  • C. 2.40
  • D. 1.20
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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