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.

 

 

Quiz Sources

  1. All the past CIS Diet quizzes are from the Chartered Institute of Stockbrokers
  2. All the practice quizzes within each lesson topic are from the Chartered Institute of Stockbroker (CIS)
  3. All other quizzes are either AI generated, or from lecturers during tutorial classes or revision classes or gathered together from self-help groups amongst past students preparing for the professional exams.
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Course Content

Paper 1.1.1 – Financial Accounting & Financial Statement Analysis

  • Balance Sheet and Statement of Comprehensive Income
    07:36
  • 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
    08:39
  • Inventory Valuation & Asset Impairment
    10:22
  • Financial Assets Classes & Valuation
    08:26
  • Hedge Accounting
    08:29
  • Liabilities, Bonds & Hybrid Securities
    08:04
  • Off-Balance Sheets Financing
    08:18
  • Leases & Lease Accounting
    07:54
  • Borrowing Costs & Retirement Benefits
    08:36
  • 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
    07:13
  • 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
  • CIS March 2013 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 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

Revision Quizzes