Exam Details

The Investment Foundations exam is computer-based, in English, and contains 120 multiple-choice questions.

You will have 2 hours to complete the exam and review your answers.

Depending on test center availability, you can schedule your Investment Foundations exam appointment on a day and time convenient for you; however, you must schedule and sit for the exam within 6 months (180 days) of the day your exam registration is confirmed.

The exam questions cover all the topics included in your eBook; however, some topics are emphasized more than others. Below is the approximate weighting for each module and access to some sample exam questions.

Approximate Topic Weights

Module 1 Industry overview: 5%
Module 2 Ethics and regulation: 10%
Module 3 Inputs and tools: 20%
Module 4 Investment instruments: 20%
Module 5 Industry structure: 20%
Module 6 Serving client needs: 5%
Module 7 Industry controls: 20%

See which chapters are in each module. (PDF)

Sample Questions*

13. Which of the following bonds contains an embedded option that provides the issuer certain rights?
  • (a) Putable bond
  • (b) Callable bond
  • (c) Convertible bond

Find the answer to this question and view more sample questions (PDF).

*Sample questions are examples of the types of questions that may appear on an actual Investment Foundations exam, but they do not predict what you will see on your exam.

At the Test Center

Learn more about the test center experience, including what to expect when you check in.