CIRO Retail Securities : RSE

  • Exam Code: RSE
  • Exam Name: Retail Securities Exam
  • Updated: Oct 21, 2026     Q & A: 122 Questions and Answers

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CIRO RSE Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Execution and Market IntegrityApproximately 5.8%- Order handling
- Market integrity rules
- Best execution
Topic 2: Monitoring, Reporting and Maintaining Client RelationshipsApproximately 5.8%- Performance reporting
- Ongoing suitability review
- Account monitoring
- Client relationship management
Topic 3: Fixed IncomeApproximately 8.3%- Interest rate risk
- Yield and pricing
- Credit risk
- Government and corporate bonds
Topic 4: Managed Products and Other InvestmentsApproximately 13.3%- Exchange-traded funds (ETFs)
- Alternative investments
- Structured products
- Mutual funds
Topic 5: Portfolio ConstructionApproximately 10.8%- Diversification
- Portfolio risk management
- Asset allocation
Topic 6: Securities AnalysisApproximately 11.7%- Financial statement interpretation
- Fundamental analysis
- Technical analysis
Topic 7: EquitiesApproximately 10%- Equity markets
- Common and preferred shares
- Valuation concepts
Topic 8: Know-Your-Client (KYC) and SuitabilityApproximately 22.5%- Regulatory obligations
- Client profile collection and maintenance
- Suitability assessment
- Investment objectives and risk tolerance
- Know-Your-Product (KYP)
Topic 9: Investment RecommendationsApproximately 11.7%- Product selection
- Client communication
- Recommendation development

CIRO Retail Securities Sample Questions:

Question #1

What is the main driver of the intraday price of an exchange-traded fund (ETF)?

  • A. Fund manager's portfolio rebalancing
  • B. Supply-demand changes on the exchange
  • C. Daily valuation of assets under management
  • D. Liquidity from institutional investors
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #2

An investor is considering purchasing a preferred share that provides a fixed dividend for an extended period, with no set maturity date. Which type of preferred share best meets the investor's considerations?

  • A. Callable
  • B. Convertible
  • C. Participating
  • D. Perpetual
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #3

What is the expected return of a portfolio of investments if the risk-free rate is 5%, beta is 2.0, portfolio variance is 15% and market rate of return is 10%?

  • A. 10%
  • B. 20%
  • C. 15%
  • D. 12%
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #4

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

Correct Answer: A  🗳️

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Question #5

A zero-coupon bond will pay $1,000 at maturity in four years and currently trades for $780. What is its approximate annual compound yield?

  • A. 5.13%
  • B. 6.41%
  • C. 4.00%
  • D. 7.80%
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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