The Canadian Securities Course costs $998 to $1,398 through CSI. The CIRE costs $170 per Fitch Learning sitting plus the CIRO course pack. Both add rewrite fees, extension fees, and a meaningful "second-attempt tax" if you fail. This article runs the real out-of-pocket math for both pathways in 2026.
By Daniel Park, Content & Curriculum at Ciroexam · 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. Reddit threads cite numbers that are five years out of date.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, rescheduling 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:
- Online PDF / eBook bundle — $998 CAD. Online interactive platform plus digital textbook for both parts. Two exam sittings (one per exam) included.
- Online + printed textbook — $1,098 CAD. Adds a hard-copy textbook to the digital materials.
- Value Pack Combo — $1,398 CAD. Adds CSI's additional prep tools (extra study aids, exam-readiness reviews, additional question bank access).
Additional fees you will likely pay
Most candidates pay at least one of the following on top of the base package:
| Line item | Cost | When it applies |
|---|---|---|
| Course extension (6 months) | $150 | If you do not complete both exams within the 12-month window |
| Course extension (12 months) | $275 | Same as above, longer window |
| Exam rewrite | $300 per attempt | Each failed sitting requires a paid rewrite |
| Exam rescheduling (31+ days out) | Free | Plenty of notice |
| Exam rescheduling (15-30 days out) | $75 | Mid-range notice |
| Exam rescheduling (3-14 days out) | $150 | Short notice |
| Exam rescheduling (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 + $150 + $300 = $1,448.
The worst-case candidate who fails both exams once and extends twice: $998 + $275 + $600 = $1,873.
Employer reimbursement is common for bank teller programs and entry-level branch advisor roles. RBC, BMO, TD, Scotia, and CIBC all historically reimburse the CSC for staff on advisor tracks, with the reimbursement typically conditional on passing both exams within a defined timeframe. If your role is reimbursed, your net cost is zero on the base package, though you generally absorb rewrites yourself.
The CIRE pathway: full cost breakdown
The CIRE has a different cost structure. Instead of one bundled course, the CIRE pathway is unbundled: separate fees for the exam, the CIRO course pack, and the prep platform.
Exam sitting fees (Fitch Learning)
Fitch Learning administers all CIRE exams on behalf of CIRO. The fees are per-sitting:
- Four foundational modules — each module sitting costs $170 CAD
- CIRE capstone exam — $170 CAD per sitting
- Total at minimum (first-attempt passes) — 5 sittings × $170 = $850 CAD in Fitch fees
If you rewrite any module or the capstone, each rewrite is another $170. There is no bundled rewrite discount. The CIRE retake guide covers the timing rules and the typical study reset.
CIRO course pack
The CIRO course pack contains the official curriculum content for the four foundational modules and the capstone. It is required for registration as a CIRE candidate. The pack runs approximately $500 to $700 CAD depending on which option you choose (digital-only vs. printed). This is paid to CIRO directly, separate from Fitch Learning.
Prep platform
Third-party prep is optional but used by most successful first-attempt candidates. The market splits into three tiers:
- Free or low-cost — public study groups, free YouTube content, Reddit r/CIROexam crowd-sourced material. Zero direct cost, but unstructured. Not generally sufficient on its own for the capstone.
- Mid-tier prep platforms — Ciroexam 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.
- Premium prep providers — Fitch's own prep materials and a handful of bank-internal training programs run $895 to $1,200 CAD for the full pathway bundle. Bank employees often have this covered through their employer.
What it actually costs a typical candidate
First-attempt passes, Ciroexam prep, basic CIRO course pack: $850 (Fitch) + $500 (CIRO pack) + $90 (3 months Ciroexam) = $1,440.
The same candidate paying annual instead of monthly Ciroexam: $850 + $500 + $249 = $1,599.
Candidate who rewrites one module: $1,440 + $170 = $1,610.
Candidate using Fitch's own prep package instead of Ciroexam: $850 + $500 + $895 = $2,245.
The cost difference between the cheapest CIRE pathway and the cheapest CSC pathway is roughly $450 in favour of the CSC at the base level. That gap reverses if a candidate fails a CSC exam (CSC rewrite is $300, CIRE rewrite is $170), or if the CSC candidate needs a course extension while the CIRE candidate does not.
Employer reimbursement on the CIRE side has matched the CSC pattern: every major bank-affiliated dealer reimburses the CIRE pathway for new advisors as part of their development program. Independent dealers vary. The CIRE exam cost breakdown goes into the reimbursement landscape in more detail.
Side-by-side: where the costs actually differ
The headline numbers ($998 to $1,398 for CSC, $850 to $2,245 for CIRE) hide the structural differences. Three factors drive the real cost gap.
Bundling vs. unbundling. The CSC is a single CSI bundle with included exam sittings. The CIRE is per-sitting fees plus a separately purchased course pack plus optional prep. Same candidate behaviour produces different bill structures.
Rewrite economics. A failed CSC exam costs $300 to rewrite. A failed CIRE module costs $170. If your prep platform is solid and your first-attempt rate is high, the CIRE pathway is cheaper. If your first-attempt rate is shaky, the CIRE saves money on each retake.
Extension fees. The CSC charges $150 to $275 to extend a stalled enrolment. The CIRE has no equivalent — you book a Fitch Learning sitting when you are ready, with no "expiring enrolment" pressure. For drawn-out candidates, this matters.
Prep platform cost. Built into the CSC bundle. Separate purchase for the CIRE. Ciroexam at $29.99/mo or $249/year is the budget option; Fitch's own prep is the premium option; the CIRO course pack is the minimum.
The net effect: CSC is slightly cheaper for a candidate who passes both exams on first attempt with no extension. CIRE is cheaper for a candidate who needs more retakes or more study time.
The "second-attempt tax"
This is the line item most candidates underestimate.
On the CSC side, a candidate who fails Exam 1 on first attempt typically rewrites within 30 to 60 days. The $300 rewrite plus the cost of additional study time (whether that's more weeks of unpaid prep time or a course extension to keep the enrolment alive) commonly turns a $998 base package into $1,500-plus all-in for first-time-fail candidates.
On the CIRE side, the equivalent scenario costs $170 per rewrite. If a candidate fails the capstone on first attempt and rewrites a month later, the total bill increases by $170 instead of $300. Three rewrites bring it to $510 vs $900 on the CSC side.
This matters because rewrites are common. First-attempt pass rates on both the CSC and the CIRE sit in the 65 to 75 percent band depending on the cohort. A meaningful fraction of every cohort writes at least one exam more than once.
The CIRE retake article covers the 30-day rebooking window mechanics, the typical study reset, and the psychological framing most candidates get wrong on a retake.
What employers actually pay for
Reimbursement policy varies but the patterns are stable.
Bank-affiliated dealers (RBC, BMO, TD, Scotia, CIBC, National Bank). Reimburse the CIRE pathway in full for new dealing representatives, typically conditional on first-attempt pass or pass within a defined timeframe. Some banks bundle the cost into a broader development program; some pay reimbursement on receipt of pass certificate. The CSC is no longer reimbursed for advisor track roles at these firms because the CSC does not register the employee.
Independent broker-dealers (Raymond James, Canaccord Genuity, Wellington-Altus, Richardson Wealth). Reimbursement varies. Some reimburse fully, some partially, some treat the CIRE as a candidate-borne cost. Worth asking specifically during the hiring process.
Exempt Market Dealers. Reimbursement of the CSC or EMPE is common for new representatives but less standardized than at the major dealers. Smaller firms may treat it as a candidate cost; larger established EMDs typically reimburse.
Self-employed or pre-employment. Full cost is on the candidate. Ciroexam is the lowest-cost prep option for the CIRE pathway in this scenario at $29.99/mo. For the CSC, CSI's bundle is the only direct path; provincial colleges (Seneca, BCIT, Ashton) offer bundled tuition programs that wrap the CSI fees with classroom instruction at a marked-up price (Seneca: ~$1,895; Ashton: $649 + CSI registration).
Frequently asked questions
How much does the Canadian Securities Course cost? $998 to $1,398 CAD for the CSI base package, plus $300 per exam rewrite and $150 to $275 for course extensions if you need them. The Value Pack Combo at $1,398 is the most-purchased format.
How much does the CIRE cost? $170 per Fitch Learning sitting (typically 5 sittings for first-attempt passes = $850), plus $500 to $700 for the CIRO course pack, plus optional prep ($29.99/mo Ciroexam to $895+ Fitch prep). All-in $1,440 to $2,245 depending on prep choice.
Which is cheaper? At base level, the CSC bundle is slightly cheaper than the CIRE pathway. After rewrites and extensions, the CIRE is cheaper because rewrite fees are lower ($170 vs $300) and there are no extension fees. For a candidate registering at a CIRO dealer member, this question is moot — the CIRE is the required credential and the CSC is not accepted.
Does my employer pay for either? Bank-affiliated dealers and many independent dealers reimburse the CIRE for new advisors. The CSC is reimbursed at firms where the CSC remains an accepted credential (EMDs, some legacy mutual fund dealers). Worth confirming 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? Fitch Learning's policy varies by jurisdiction and timing. Generally, exam sittings can be refunded or rebooked with appropriate notice — 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 rewrite: $170 per attempt. Both pathways limit the number of attempts within a defined window.
Do newcomers to Canada get a discount? CSI offers a 10% newcomer discount on the CSC and IFIC mutual funds course. Fitch Learning does not currently offer a CIRE newcomer discount.
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
- 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 the lowest-cost CIRE prep option 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.