The Canadian Securities Course costs $998 to $1,398 through CSI. The CIRE is $475 for the first attempt and $300 for a retake. Official CIRO materials are free. This article runs the out-of-pocket math for both pathways in 2026.
By Daniel Park, Content & Curriculum at Registrant Prep · May 22, 2026 · 9 min read
The question "how much does the Canadian Securities Course cost?" gets a different answer depending on who you ask. CSI publishes a sticker price. Older forum posts cite numbers that may be out of date. Provincial college continuing-ed websites quote their own bundled-tuition figures. None of those match the line items a candidate actually pays in 2026.
This article runs the real numbers: the CSC pathway through CSI, the CIRE pathway through Fitch Learning, and the all-in cost of both, including the line items most candidates underestimate (rewrites, extensions, late cancellation fees).
If you have not yet decided between the two pathways, the should-I-write-CSC-or-CIRO decision tree walks through which one applies to your registration target. This article is the cost layer on top of that decision.
The CSC pathway: full cost breakdown
CSI sells the Canadian Securities Course as a bundled enrolment. The bundle includes both exams (Exam 1 and Exam 2), the study materials, and the 12-month enrolment window.
Base package
Three formats are sold (CSI states that all its fees are taxable, so add sales tax to every CSC figure below):
- Online PDF / eBook bundle, $998 CAD. Online interactive platform plus digital textbook.
- Online + printed textbook, $1,098 CAD. Adds a hard-copy textbook to the digital materials.
- Value Pack Combo, $1,398 CAD. Adds CSI's study tools (CSC Check, CSC videos, a financial calculations toolkit and e-tutorials).
Additional fees you will likely pay
You may pay one or more of the following on top of the base package:
| Line item | Cost | When it applies |
|---|---|---|
| Course extension (12 months) | $275 | If you do not complete both exams within the one-year enrolment |
| Exam rewrite | $300 per attempt | Each failed sitting requires a paid rewrite |
| Late exam cancellation (31+ days out) | Free | Plenty of notice |
| Late exam cancellation (15-30 days out) | $75 | Mid-range notice |
| Late exam cancellation (3-14 days out) | $150 | Short notice |
| Late exam cancellation (1-2 days out) | $300 | Last-minute |
| Cancellation refund (within 14 days) | -$175 | Cancel within 14 days of enrolment, $175 deducted |
CSI's newcomer to Canada discount knocks 10% off the base package, bringing the value pack to roughly $1,258, for eligible candidates registering through CSI's newcomer program.
What it actually costs a typical candidate
A first-attempt-passes candidate on the basic format: $998.
A typical working candidate who rewrites one of the two exams: $998 + $300 = $1,298.
A drawn-out candidate who needs a course extension plus one rewrite: $998 + $275 + $300 = $1,573.
The worst-case candidate who fails both exams once and buys the one-year extension: $998 + $275 + $600 = $1,873.
All of these are before tax. Some employers reimburse the CSC, often on condition that you pass. Ask HR before you pay: if your role is reimbursed, your net cost on the base package may be zero, though rewrites may be on you.
The CIRE pathway: full cost breakdown
The CIRE is a single exam. There are no four foundational-module sittings. CIRO's Exam Hub says the proficiency model does not require a preparatory course.
Exam fees (Fitch Learning)
Fitch Learning administers CIRO exams. The April 2026 fees policy:
- First attempt (enrolment): $475 CAD
- Second or third attempt in the same 12-month enrolment: $300 CAD
- After three failed or absent results within six months: six-month cooling-off, then a new $475 enrolment
All CIRO exam fees are subject to applicable taxes, and payment is by credit card only through the enrolment site.
The CIRE retake guide covers the timing rules.
Official CIRO materials (free)
CIRO publishes the syllabus, practice exam, and guide for studying on the Exam Hub. Those PDFs are free. There is no required CIRO course pack.
Prep platform
Third-party prep is optional. CIRO does not require, provide or list preparatory courses. The market splits into two tiers:
- Free or low-cost, public study groups, free YouTube content, Reddit threads. Zero direct cost, but unstructured. In our view, not enough on its own for most candidates.
- Structured prep platforms, Registrant Prep at $29.99/mo or $249/year covers all 9 CIRO Proficiency Model exams currently published, including 3,000+ CIRE questions, two full-length mock exams plus a custom mock from your weak areas, and a frontier AI tutor custom-tuned for CIRO. The pricing page has the full feature list.
What it actually costs a typical candidate
First-attempt pass, no third-party prep: $475 (before tax, as are the figures below).
First-attempt pass plus 3 months of Registrant Prep: $475 + $90 = $565.
First-attempt pass plus annual Registrant Prep: $475 + $249 = $724.
One retake, no prep: $475 + $300 = $775.
The CSC bundle is still more expensive than a clean CIRE first attempt. A CIRO investment dealer cannot substitute the CSC for the CIRE.
Some dealers cover the CIRE for new advisors, but policies vary by firm, so ask before you pay. The CIRE exam cost breakdown covers the CIRE side in more detail.
Side-by-side: where the costs actually differ
The headline numbers ($998 to $1,398 for CSC, $475 for a first CIRE attempt) hide the structural differences.
Bundling vs. unbundling. The CSC is a CSI course bundle with two exams included. The CIRE is one exam at $475, with optional third-party prep. Official CIRO PDFs are free.
Rewrite economics. A failed CSC exam costs $300 to rewrite. A CIRE retake in the same enrolment is also $300.
Enrolment window. The CSC charges $275 to extend a stalled one-year CSI enrolment by 12 months. Fitch's CIRE enrolment is also 12 months, with up to three attempts. There is no CSI-style extension fee published for CIRE.
A clean CIRE first attempt is cheaper than the CSC bundle. For approval at a CIRO investment dealer the comparison is moot: the CIRE is required.
The "second-attempt tax"
This is the line item most candidates underestimate.
On the CSC side, a failed exam means a $300 rewrite. If the extra study time also pushes you past the one-year enrolment, add the $275 extension, and a $998 base package becomes $1,573 before tax.
On the CIRE side, a retake in the same 12-month enrolment is $300. CIRO has not published a CIRE pass rate. Do not treat CSC pass-rate chatter as a CIRE forecast.
The CIRE retake article covers Fitch's attempts policy and a study reset.
What employers actually pay for
Reimbursement policy varies by firm.
Bank-affiliated dealers. Some large dealers cover exam costs for new dealing representatives, sometimes on condition that you pass within a set time. Policies are internal and change, so get the terms in writing. The CSC no longer qualifies a new advisor for approval at an investment dealer.
Independent investment dealers. Reimbursement varies. Some reimburse fully, some partially, some treat the CIRE as a candidate-borne cost. Worth asking specifically during the hiring process.
Mutual fund dealers and Exempt Market Dealers. The CSC still qualifies representatives here (NI 31-103 s.3.5 and s.3.9). Policies on reimbursing the CSC, IFC or EMPE vary by firm, so ask before you enrol.
Self-employed or pre-employment. Full cost is on the candidate. Registrant Prep costs $29.99/mo for the CIRE pathway. For the CSC, CSI's bundle is the direct path; some colleges offer classroom programs that include the CSI fees.
Frequently asked questions
How much does the Canadian Securities Course cost? $998 to $1,398 CAD plus tax for the CSI base package, plus $300 per exam rewrite and $275 for a 12-month course extension if you need it.
How much does the CIRE cost? $475 for the first attempt, $300 for a retake in the same 12-month enrolment. Official syllabi are free. Optional prep is extra.
Which is cheaper? A first CIRE attempt ($475) is cheaper than the CSC bundle ($998 to $1,398). For a candidate seeking approval at a CIRO investment dealer, the comparison is moot: the CIRE is required.
Does my employer pay for either? Some dealers cover the CIRE for new advisors, and firms where the CSC remains an accepted credential (mutual fund dealers and EMDs) may cover the CSC. Policies vary, so confirm with HR before paying out of pocket.
Can I get a refund on the CSC? CSI's policy allows a refund within 14 days of enrolment minus a $175 cancellation fee. After 14 days, the enrolment is non-refundable.
Can I get a refund on the CIRE? Only in limited cases. Under the Fees, Payments and Refunds Policy (April 2026), Fitch Learning considers a refund only if you paid for an exam in error and asked within 24 hours, or if documented illness, injury, a family member's illness or a death in the family stops you using your remaining attempts, and you have not yet taken the exam. You can reschedule for free up to 36 hours before the appointment. See the CIRE registration guide for the booking and rebooking mechanics.
What does it cost to rewrite if I fail? CSC rewrite: $300 per attempt. CIRE retake in the same enrolment: $300. After three CIRE fails in six months, a six-month cooling-off applies, then a new $475 enrolment.
Do newcomers to Canada get a discount? CSI offers a 10% newcomer discount on the CSC and its Investment Funds in Canada (IFC) course. The CIRO/Fitch Learning fees policy lists no discounts on CIRO exam fees.
What to read next
- Canadian Securities Course (CSC) in 2026: what it is, what replaced it, who still writes it, the CSC hub article
- Canadian Securities Course jobs: which roles still need the CSC vs the CIRE, bank, EMD, and dealer roles mapped to the credential each actually requires
- CSC or CIRO exams: which one should I write in 2026?, decision tree for the two pathways
- I have the CSC, do I need to write the CIRE?, five candidate scenarios for CSC alumni
- How much does the CIRE exam cost in 2026?, the CIRE side of the cost breakdown in more detail
- CIRE exam book and study materials: what actually works, full map of the prep market for the CIRE pathway
- Failed the CIRE: rebooking, retake fees, and a study reset that works, the retake mechanics on the CIRE side
For CIRE prep at $29.99/mo, 3,000+ CIRE questions, two full-length mock exams plus a custom mock from your weak areas, and a frontier AI tutor custom-tuned for CIRO, see the pricing page, or take the free 25-question CIRE mock before committing to a study path.