The Canadian Securities Course costs $998 to $1,398 at CSI in 2026, depending on the format. But since January 1, 2026 the CSC no longer counts for CIRO approval at an investment dealer; CIRO replaced it there with a nine-exam Proficiency Model. The CSC still qualifies mutual fund dealer and exempt market dealer representatives. If you are budgeting for an investment dealer career today, the numbers have changed.
What the CSC Costs
CSI lists three versions of the CSC: $998 for the online course with a PDF and eBook textbook, $1,098 with a hard-copy textbook, and $1,398 for the Value Pack with study tools. CSI charges $300 for each second or later exam attempt, and says all of its fees are taxable.
The CSC has two exams, so every retake adds $300 to the course price.
CSI still enrols students in the CSC and updates the course annually. What changed is that the CSC no longer leads to CIRO approval at an investment dealer.
The 2026 Replacement and What It Costs
For investment dealer approval, CIRO replaced the CSC with a nine-exam Proficiency Model designed and delivered with Fitch Learning. Each exam costs $475 plus applicable taxes for an enrolment, which covers the first attempt and allows up to three attempts within 12 months. Each second or third attempt costs $300. The full replacement structure is explained here.
No preparatory course is required. CIRO publishes the syllabus, a practice exam and a Guide for Studying for each exam free on its Exam Hub, and Fitch Learning's CIRO support site says preparatory courses are not required or provided. The CIRE, or Canadian Investment Regulatory Exam, is the direct entry-level successor to the CSC. A side-by-side breakdown of the two credentials is available at CSC vs CIRE.
A new retail Registered Representative writes two exams, the CIRE and the Retail Securities Exam, so the exam fees alone are $950 plus tax if both are passed on the first attempt.
Pricing Comparison Table
| Option | Cost (CAD) | What You Get |
|---|---|---|
| CSC (CSI, 2026) | $998 to $1,398 plus tax | Course, textbook and two exams; $300 per exam retake |
| CIRO exam (each) | $475 plus tax | Enrolment with up to 3 attempts in 12 months; $300 per retake |
| Registrant Prep | $29.99/month or $249/year | All 9 CIRO Proficiency Model exams in one subscription |
Registrant Prep covers the full nine-exam suite in one subscription. If you need to pass multiple CIRO exams, you do not pay again for each one. See the full pricing page for what each plan includes.
Does Anyone Still Need the CSC?
After January 1, 2026, new applicants at CIRO investment dealers generally cannot use the CSC to meet proficiency requirements. The exception is someone who enrolled in a CSI course before 2026, finishes it by December 31, 2026, and whose dealer files the approval application before January 1, 2027. The question of whether the CSC is still required depends almost entirely on your role and timing.
Approved Persons approved before 2026 keep their role without the new exams while they stay in the same role, though they must complete CIRO Conduct Training by December 31, 2026.
The CSC is still a regulatory route outside investment dealers. Under NI 31-103, the CSC exam qualifies mutual fund dealer representatives (s.3.5) and exempt market dealer representatives (s.3.9). Mutual fund dealer representatives' proficiency is set by NI 31-103, not by the CIRO exams. If your employer told you to take the CSC after 2025, confirm with your compliance department which role it is for.
Is the New System Worth It Financially?
The CSC at $998 to $1,398 is expensive for a single course. Under the CIRO Proficiency Model most representatives write two exams, and the cumulative investment in prep materials, exam fees, and time can exceed what the CSC costs if you are not careful about where you study.
A Registrant Prep annual subscription at $249 costs less than a quarter of the cheapest CSC format. Whether the CIRO Proficiency Model makes financial sense relative to career outcomes is a different question, covered in detail at is the CSC worth it. The short answer: the exams are required for most front-office approvals at CIRO investment dealers, so the ROI question is mostly moot. You need the exams.
The practical question is how much you spend on prep materials. Overbuying prep materials is a common mistake. It is easy to buy a course, a question bank, and a textbook, then use only one of them.
Start with a free 25-question mock exam at Registrant Prep. No credit card required. The diagnostic identifies which CIRO exam topics need the most work and helps you avoid buying prep you do not need.
Exam Fee vs. Prep Cost: Two Separate Line Items
One source of confusion in searches for "CSC cost" is that people conflate the exam fee (paid to the testing authority) with the prep cost (paid to a course provider).
With the CSC, CSI handles both. It sells the course materials, administers the exams, and charges $300 for each exam retake.
Under the new CIRO model, you pay the exam fee by credit card through Fitch Learning's enrolment site, and prep is a separate choice: CIRO's free syllabus, practice exam and Guide for Studying, or a third-party provider like Registrant Prep.
If your employer covers the exam fee, your out-of-pocket is only the prep material cost.
Summary
The CSC costs $998 to $1,398 at CSI and no longer counts for investment dealer approval. The CIRE and the broader CIRO Proficiency Model replace it there, at $475 plus tax per exam enrolment. No prep course is required. Registrant Prep covers all nine CIRO exams for $29.99 per month or $249 per year.
If you are starting the credentialing process now, the first step is figuring out which exams apply to your registration category. The diagnostic at Registrant Prep takes under ten minutes and costs nothing.
Frequently Asked Questions
Was the CSC free through any employer programs?
Some banks and investment dealers covered the CSC cost as part of their training budget, but this was firm-specific. The same applies today: some firms cover CIRO exam fees for new representatives, others do not. Confirm with your HR or compliance team before paying out of pocket.
Can I still register for the CSC in 2026?
Yes. CSI still sells the CSC, and it still counts for mutual fund dealer and exempt market dealer roles. It no longer counts for approval at a CIRO investment dealer: if you begin that process today, you must complete the CIRO Proficiency Model exams, not the CSC.
Does Registrant Prep include the actual CIRO exam fee?
No. Registrant Prep is a prep platform. Your subscription covers practice questions, topic coverage, and performance tracking for all nine CIRO Proficiency Model exams. The official exam fee is paid separately, by credit card through Fitch Learning's enrolment site, when you enrol in each exam.
How long does it take to study for the CIRE?
It varies with your background. CIRO does not publish a recommended study time; its Guide for Studying suggests using the question weighting to plan, for example one hour per question. The CIRE is the entry-level exam in the CIRO Proficiency Model. Starting with a diagnostic to benchmark your current knowledge is the fastest way to build an accurate study plan.