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CSI EXMP Exam Guide, Study Plan & Practice

CSI Exempt Market Proficiency (EXMP) exam guide with topic weights, study plan, Cheat Sheet, FAQ, resources, and practice links.

Use this page as the main CSI Exempt Market Proficiency (EXMP) exam guide. EXMP is the Canadian exempt-market route, so the study task is not just memorizing product names. You need to connect capital raising, exempt distributions, issuer structures, sector products, KYC, KYP, suitability, disclosure, and exempt-market dealer compliance in one client-and-dealer decision chain.

This guide now includes chapter and section articles for the full EXMP curriculum. Use the left navigation to move from the broad exam map into specific lessons such as public versus exempt markets, dealer compliance, private placements, issuer structures, sector products, and suitability analysis.

Exam snapshot

ItemValue
ProviderCSI
Exam codeEXMP
Exam routeExempt Market Proficiency
Reference question count100
Reference time limit180 minutes
Strongest focusexempt-market dealing, private placements, issuer structures, KYC, KYP, suitability, and compliance

Topic weights used for this guide

TopicWeight
Know your client and suitability16
The structures of issuers11
Overview of the capital markets10
Dealing with clients10
The private placement process7
Real estate and mortgage investments7
Flow-through shares7
The mining industry7
The oil and gas industry7
Hedge funds7
Compliance for exempt market dealers6
Regulatory framework5

What this exam is really testing

Exam behaviorWhy it matters
Identify the client and product due-diligence issue before discussing a securityEXMP questions often turn on KYC, KYP, suitability, and documentation discipline.
Separate issuer structure from investment featureA limited partnership, trust, corporation, fund, or project structure changes risk, disclosure, and investor understanding.
Treat private placement process questions as compliance questionsOffering documents, exemptions, restrictions, and dealer controls matter as much as return potential.
Recognize sector-specific riskReal estate, mortgage, mining, oil and gas, flow-through shares, and hedge funds create different risk and suitability profiles.

Where EXMP fits

If the candidate mainly needs…Better first instinct
Canadian exempt-market dealing and private capital marketsEXMP
core Canadian securities and market foundationsCSC Exam 1 and CSC Exam 2
mutual-fund product and suitability foundationsIFC
conduct and client-account behaviourCPH

How to use this guide well

  • Start with capital markets and exempt-market regulation so later product chapters have context.
  • Spend extra time on KYC, KYP, suitability, issuer structures, and client-dealing workflow because those areas drive decision quality.
  • Use the Cheat Sheet for fast sector and compliance distinctions.
  • Use Resources to confirm current CSI exam structure and official course details before booking.

Sample Exam Question

An exempt market dealing representative is reviewing a private real estate offering for a client who wants higher yield but has limited liquidity and little experience with non-redeemable private investments. What is the strongest next step?

  • A. Recommend the product if the projected yield is higher than the client’s current portfolio yield.
  • B. Confirm the offering exemption only; suitability is secondary when the exemption is available.
  • C. Assess KYC, KYP, liquidity, concentration, risk tolerance, product restrictions, and documented suitability before making any recommendation.
  • D. Avoid discussing issuer risks because those belong only in the offering document.

Answer: C. EXMP questions often test the full exempt-market decision chain. An available exemption and attractive yield do not replace client suitability, product due diligence, disclosure, and documentation.

Practice this exam

Use this free guide for review, then Start CSI EXMP Practice on Finance Prep for timed questions, topic drills, and detailed explanations.

In this section

Revised on Friday, May 29, 2026