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Guide · CySEC Advanced

CySEC Advanced Exam & Certification Guide 2026

The CySEC Advanced certification is required for professionals working at Cypriot Investment Firms (CIFs) in roles covering all investment services and activities. This guide covers the exam format, the 14-chapter syllabus, how to study and what to expect.

By the ExamPass CY editorial team · Last reviewed October 2026

The exam at a glance

Questions
70, multiple choice
Time
90 minutes
Pass mark
70% (49 of 70)
Syllabus
14 chapters
Exam language
English and Greek
Issued by
Cyprus Securities and Exchange Commission (CySEC)
Who needs it
Compliance officers, portfolio managers, investment advisers and dealing room staff at CySEC-regulated firms

The 14 chapters

How many of the 70 questions each chapter carries. Each chapter links to its own page with the topics, free notes and practice.
CySEC Advanced syllabus: how many of the 70 exam questions each chapter carries
ChChapterQuestions
1Chapter 1: Investment Services Law 20174
2Chapter 2: Cypriot Investment Firms (CIFs)8
3Chapter 3: CIFs and Banks8
4Chapter 4: Open-Ended UCI Laws (2012–2019)6
5Chapter 5: Alternative Investments6
6Chapter 6: Business of Credit Institutions2
7Chapter 7: AML & Terrorist Financing5
8Chapter 8: MiFIR (2014)4
9Chapter 9: Capital Adequacy Requirements8
10Chapter 10: EMIR4
11Chapter 11: Recovery and Resolution5
12Chapter 12: Prospectus Regulation2
13Chapter 13: Transparency Laws3
14Chapter 14: Insider Dealing & Market Manipulation5
Total70

How to study for it

Six tips for working through the syllabus and into the exam room.

  1. Start with the heaviest chapters

    Chapters 2, 3 and 9 carry 8 questions each: 24 of the 70 (34%). Cover them first, then Chapters 4 and 5 (6 each).

  2. Study one chapter at a time

    Read the chapter, then practise its questions straight away, while the material is fresh. Gaps show up early, when they are cheap to fix, rather than the night before the exam.

  3. Use the hint before you answer and the explanation after

    When you are stuck, the hint points you to the rule instead of the answer. After every answer, right or wrong, read the explanation: each question becomes a short lesson on the concept, not a line in an answer key.

  4. Sit a full mock once every chapter is covered

    70 questions weighted like the real exam. The mocks have no timer, so time yourself to the exam's 90 minutes. Aim for a clear margin above the pass mark of 49, not just the pass mark itself.

  5. Revise what you missed

    Go back to the topics where you lost points, practise them again, then sit the next mock and compare.

  6. Learn the rule, not the wording

    The exam tests how rules apply, and a question can be phrased in a way you have not seen. Memorising wording does not carry over; understanding why a rule exists and how it applies does.

How ExamPass CY helps

Every practice question on ExamPass CY has a hint and an explanation. Before you answer, the hint points you to the rule that decides the question, for example the suitability rules under MiFID II or the customer due diligence duties under the AML Directive. After you answer, the explanation says in plain language why one option is correct and why the others are not.

That matters because the Advanced exam tests whether you understand how a regulation applies, not whether you recognise a memorised phrase. Understanding the rule behind an answer carries over to questions you have not seen; an answer key does not.

The same hints and explanations cover all three exams: 14 Advanced chapters, 8 Basic chapters and 8 AML chapters. The full mocks have 70 questions weighted like the real exam, with a report of your score against the pass mark of 70% (49 of 70).

Frequently asked questions

How many questions are on the CySEC Advanced exam?

70 multiple-choice questions, completed within 90 minutes.

What is the passing mark for CySEC Advanced?

70%: you need to answer at least 49 of the 70 questions correctly.

How long does it take to prepare for CySEC Advanced?

Plan for 4–8 weeks of structured study. If you already work in a regulated firm, 3–4 weeks may be enough.

Can I take the CySEC Advanced exam in Greek?

Yes. The exam is available in both English and Greek.

What happens if I fail the CySEC Advanced exam?

You can retake the exam by re-registering through the CySEC website and paying the exam fee again. There is no mandatory waiting period stated by CySEC.

What is the difference between CySEC Advanced and CySEC Basic?

The Advanced certification covers all 14 chapters and is required for roles involving all investment services. The Basic certification covers 8 chapters and is sufficient for roles in reception/transmission of orders only.

Is it a CySEC Advanced 'certificate' or 'certification'?

The two terms are used interchangeably. Passing the CySEC Advanced examination adds you to the CySEC public register of certified persons — the recognised qualification for the relevant investment services roles at Cypriot Investment Firms.

How do I register for the CySEC Advanced exam?

Registration is done directly through the CySEC website (cysec.gov.cy) under the certifications and examinations section. You select the Advanced examination, submit your details, and pay the examination fee. Check the CySEC site for the current fee and the next available exam dates, as these are set by CySEC and can change.

What is the recommended study approach for the CySEC Advanced exam?

Three steps. First, read each chapter of the official CySEC syllabus to build conceptual understanding. Second, study chapter by chapter with focused practice questions, starting with the high-weight chapters (Chapters 2, 3 and 9 carry 8 questions each: 24 of the 70 (34%)). Third, sit full 70-question mock exams to build stamina and find the remaining gaps; our mocks have no timer, so time yourself to 90 minutes. Plan for 4–8 weeks; professionals already in regulated roles often need 3–4.

Does ExamPass CY offer a free practice test?

Yes. The free demo at exampasscy.com/demo has 10 Advanced questions, each with a hint before you answer and an explanation after. No account is needed.

Start with 10 free questions

See how the hints and explanations work before you pay. CySEC Advanced, no account needed.

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