CIS Level 1

By Imaobong Categories: Exams Prep
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About Course

Chartered Institute of Stockbrokers of Nigeria (CIS) Examination Structure

 

The CIS professional examination uses a curriculum revised in March 2021. To qualify as a Chartered Stockbroker, you must complete two levels, with Level 1 being a prerequisite for Level 2. Both levels assess the same 12 subject areas, but the focus differs: Level 1 tests basic knowledge, while Level 2 requires in-depth understanding and practical application.

 

Level 1 Examination Structure

 

Level 1 consists of four examination papers. Each paper bundles related subjects and is a three-hour multiple-choice exam.

 

Paper & Subjects Covered 

 

Paper 1.1 

– Financial Accounting and Financial Statement Analysis

– Economics and Financial Markets

– Quantitative Analysis and Statistics 

 

Paper 1.2

– Corporate Finance

– Equity Valuation and Analysis

– Fixed Income Valuation and Analysis 

 

Paper 1.3

– Derivative Valuation and Analysis

– Portfolio Management

– Commodity Trading and Futures 

 

Paper 1.4

– Ethics and Professional Standards

– Law Relating to Securities and Investments

– Regulations of Securities and Corporate Finance 

 

Level 2 Examination Structure

 

Level 2 is streamlined into just two papers, designed for completion within six months after passing Level 1.

 

Paper 2.4  

– Ethics and Professional Standards

– Law Relating to Securities and Investments

– Regulations of Securities and 

– Corporate Finance 

 

Paper 3.0

This is a single, comprehensive paper covering advanced topics from Level 1 subjects:

– Equity Valuation and Analysis

– Fixed Income Valuation and Analysis

–  Portfolio Management

–  Commodity Trading and Futures

–  Derivatives and Financial Engineering

–  Financial Advisory Services 

 

Key Examination Policies

 

Progression: You must complete all Level 1 papers before you can register for any Level 2 examination.

Flexibility: Within each level, you may register for any number of papers in a single sitting. For example, you could take one, two, or all four Level 1 papers at the same exam session.

Pass Mark: A score of 50% is required to pass each paper.

Validity Period: You have a total of eight years from your initial registration to complete all papers for both levels.

Exemptions: Holders of certain recognized professional qualifications, such as the CFA Charter or an ACA from ICAN, may be granted exemptions from some or all Level 1 papers. However, Paper 2.4 remains compulsory for all candidates seeking certification.

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Course Content

Paper 1.1.1 – Financial Accounting & Financial Statement Analysis

  • Balance Sheet and Statement of Comprehensive Income
    07:35
  • Cash Flows, Changes in Equity & Notes to Financial Statements
    06:51
  • Users of Financial Statements
    08:15
  • Global Accounting
    09:53
  • Accounting Conventions
    08:49
  • Accounting Definitions
    09:02
  • Cashflow Statement Rationale
    08:15
  • Revenue Recognition & Construction Accounting
    08:10
  • Expense Recognition & Stock Options
    09:40
  • Assets, Depreciation & Valuation
    06:54
  • Investment Property, R&D, and Inventory Valuation
    08:40
  • Inventory Valuation & Asset Impairment
    10:22
  • Financial Assets Classes & Valuation
    08:26
  • Hedge Accounting
    08:29
  • Liabilities, Bonds & Hybrid Securities
    08:05
  • Off-Balance Sheets Financing
    08:18
  • Leases & Lease Accounting
    07:54
  • Borrowing Costs & Retirement Benefits
    08:37
  • Income & Deferred Taxes
    08:21
  • Shareholder’s Equity
    06:45
  • Other changes in retained earnings
    05:38
  • Provisions & Contingent Liabilities
    09:27
  • Acquisitions & Goodwill
    07:41
  • Mergers Accounting
    09:46
  • Consolidated financial statements
    08:17
  • Consolidation Methods
    08:50
  • Difference arising from consolidation
    06:24
  • Uses of each consolidation method
    07:06
  • The Consolidation Procedure
    07:34
  • Adjustments to the individual financial statements
    08:39
  • Consolidated Differences & Goodwill Accounting
    08:56
  • Foreign Currency Accounting & Hyperinflation Risks
    08:25
  • Income vs. Cash Flow
    08:17
  • Quality of earnings, earnings management
    09:54
  • Earnings per share
    10:44
  • Segment Reporting
    08:21
  • Interim Reporting
    08:03
  • Analytical Tools Introduction
    00:00
  • Time series and common size analysis
    08:31
  • Ratio Analysis
    00:00
  • Efficiency Ratios
    09:36
  • Solvency Ratios
    08:15
  • Liquidity Ratios
    09:05
  • Financial Market Ratios
    00:00
  • Summary of Ratios
    08:23
  • The Leverage Effect
    00:00
  • DuPont Analysis
    08:26
  • Bankruptcy & Credit Risk Analysis
    00:00
  • Predicting Bankruptcy
    00:00
  • Break-even Analysis
    00:00
  • Pro-forma Financial Statements
    07:37
  • CIS September 2010 Exams Diet – FAFSA
  • CIS March 2011 Exams Diet – FAFSA
  • CIS September 2011 Exams Diet – FAFSA
  • CIS March 2012 Exams Diet – FAFSA
  • CIS September 2012 Exams Diet – FAFSA

Paper 1.1.2 – Economics and Financial Markets

Paper 1.1.3 – Quantitative Analysis and Statistics

Paper 1.2.1 – Corporate Finance

Paper 1.2.2 – Equity Valuation and Analysis

Paper 1.2.3 – Fixed Income Valuation and Analysis

Paper 1.3.1 – Derivative Valuation and Analysis

Paper 1.3.2 – Portfolio Management

Paper 1.3.3 – Commodity Trading and Futures

Paper 1.4.1 – Ethics and Professional Standards

Paper 1.4.2 – Law Relating to Securities and Investments

Paper 1.4.3 – Regulations of Securities and Corporate Finance

Casio FX-991ES Plus Calculator for financial calculations

Motivation & Study Tips