Talk to me about the CSC (Canadian Securities Course)

[J pold]

Has anyone here written it? I know we have a few guys in the investment industry.

If I want to write it do I need to purchase the entire course or can I just challenge exam? I heard that you only need a 60% to pass if that's the case I feel like I could challenge it.

Thanks in advance.

[Sliver]

I took it in '05 and passed. I actually found it really hard because I don't come from a finance background. I had to study like crazy but I ended up with a good mark so whatev.

[8sPOT]

When I did mine in 2007, once I registered for the course I could have written the exam right away. Nowadays, the price of the course includes all the online material, a textbook is separate and probably costs $100 or so.

I recommend at least doing the assignments and practice exam.

[fundmark19]

I am actually just starting to read through the material. All the courses they offer you cannot just challenge the exam you need to purchase full course then can take exam when ever

[IliketoPuck]

So you can essentially challenge it a month after purchasing the materials?

[Finner]

I've written the CSC, CPH (conduct & practices handbook), OLC (Options Licensing Course), DFC (Derivatives Fundamentals), PFSA (Personal Financial Services Advice), FP1 (Financial Planning 1).

CSC was pretty easy. Read the book(s?) once and you should be fine. Pretty straightforward stuff.

You can buy the CSC check if you're concerned, i think its ~$100.00 and gives you a few practice tests and end of chapter quizzes.

The CSC is two tests though not 1. If i recall the 1st test was pretty much just basic economics stuff, with part 2 getting more into taxation, margin, bond yields/coupons and financial ratios.

[Slava]

I did mine a couple of years ago as well as CPH. I didn't find it very hard at all, but I do work in the industry and have for a number of years. Like others have said though, read the book and you should be fine.

I am a little jaded on these things, but frankly its a cash grab....I say that because there isn't a way to challenge the exam that I know of. You have to do the whole thing and pay the full cost.

[SeoulFire]

Different lifetime for me but the CSC and CPH were pretty much cake with decent background knowledge.

[albertGQ]

I took it and passed it in 2003 (or 2004?). Got 74% on the 1st test and 73% on the 2nd test. I thought the 2nd was way harder but for some reason I got around the same mark as the first test. Was licenced for about two years.

I registered for the CPH but never completed it as I left the investment industry and now work in the credit side

[IliketoPuck]

Originally Posted by Finner

I've written the CSC, CPH (conduct & practices handbook), OLC (Options Licensing Course), DFC (Derivatives Fundamentals), PFSA (Personal Financial Services Advice), FP1 (Financial Planning 1).

CSC was pretty easy. Read the book(s?) once and you should be fine. Pretty straightforward stuff.

You can buy the CSC check if you're concerned, i think its ~$100.00 and gives you a few practice tests and end of chapter quizzes.

The CSC is two tests though not 1. If i recall the 1st test was pretty much just basic economics stuff, with part 2 getting more into taxation, margin, bond yields/coupons and financial ratios.

Sounds like a pretty straight forward test. Time to look into it.

Here's my question though, if you (cross fingers for the 25th of Jan.) have your CFA, does the CSC provide any extra benefit, or is it a requirement to work in the industry? It seems like the material covered by it is extensively covered in the CFA materials as well.

[J pold]

Originally Posted by IliketoPuck

Here's my question though, if you (cross fingers for the 25th of Jan.) have your CFA, does the CSC provide any extra benefit, or is it a requirement to work in the industry? It seems like the material covered by it is extensively covered in the CFA materials as well.

I know what you mean man, I'm counting the days. The waiting is killing me.

From my understanding you need your CSC to trade in discretionary accounts.

Ok so I'm not sure I understand quite yet (and the CSI website is terrible) so if I pay $120.00 and do this CSC check. Study for a bit I can just write the exam? Is it on-line? Or there is schedule time and place to write it? I can't find answers to these simple questions on the website.

[IliketoPuck]

Good luck man, either way I'm going to have some beers on Tuesday!

Assuming a pass, I think my plan will be to work on the level 2 for June, and the write the CSC in the 6 months break between level 2 and 3.

[Finner]

In terms of knowledge it probably will add almost nothing to what you've covered in the CFA.

However it does allow you to trade if your job involves that at all. Lots of places just want it as a requirement. Its easy and if you don't care about the money its not a bad certificate to have.

[Finner]

For me i'm going to finish the PFPC (Personal Financial Planning Course) and depending on career will either take the BCO (Branch Compliance Officer) course for management or my CFP (Certified Financial Planner) if i end up going the financial planner route.

However all of that also rests on my finishing my B Comm in accounting in the next year or so.

[albertGQ]

Originally Posted by J pold

I know what you mean man, I'm counting the days. The waiting is killing me.

From my understanding you need your CSC to trade in discretionary accounts.

Ok so I'm not sure I understand quite yet (and the CSI website is terrible) so if I pay $120.00 and do this CSC check. Study for a bit I can just write the exam? Is it on-line? Or there is schedule time and place to write it? I can't find answers to these simple questions on the website.

I wrote both my exams at SAIT in the evenings. Not sure if it has changed or not

[bradster57]

I took it in 2005 and passed. Wasn't that difficult for me but I did have a degree in finance.

I haven't done anything with it though as I ended up in an accounting career.

[Slava]

Originally Posted by Finner

For me i'm going to finish the PFPC (Personal Financial Planning Course) and depending on career will either take the BCO (Branch Compliance Officer) course for management or my CFP (Certified Financial Planner) if i end up going the financial planner route.

However all of that also rests on my finishing my B Comm in accounting in the next year or so.

I have the CFP as well, and I would say that there is a huge amount of overlap between the CFP and CSC. The CFP is the way to go between the CFP and PFP though. Basically the CFP is more wide-ranging and the PFP is more or less a bank designation.

I quoted you because you are going to take the BCO course though. I know they always need people in that area, but that has to be one of the most tedious jobs ever! I just can't imagine sitting there reviewing files all day, but to each their own I suppose.

[annasuave]

For those of you who have taken the Canadian Securities course - was it worth it?

I'm following up on a suggestion in Moneysense Magazine that suggested if you have a $1,000 sitting around to invest, consider taking the Canadian Securities course as a different kind of investment.

I know almost nothing about investing, and frankly find most of the stuff my financial advisor tells me is bewildering. My level of understanding is such that I really have no good idea if he's blowing air up my skirt or recommending the real goods.

I'd like to try investing on my own, without an advisor, but just have never really been exposed to any of the how's why's and who's involved.

Having been through it - what is your assessment of the course? Do you know of any cheaper, less labour intensive alternatives?

[JMN]

I found the CSC to be an easy course. I don't come from a finance background but worked in another department for a financial company and am always around financial guys. Some of my accounting/economics courses helped with the CSC a little bit.