Registrant Prep, practice CIRE for free, no card.CIRE Cheat Sheet
Updated June 2026 · ciroexam.ca
CIRE Numbers Wall
Every testable number on the CIRE under the 2026 CIRO Proficiency Model, on one page. Investor-protection limits, monetary-policy thresholds, fixed-income mechanics, margin tiers, options conventions, corporate-disclosure thresholds, and filing deadlines. Print it, drill the figures, and walk into Fitch Learning knowing every number cold.
Investor Protection & Regulation
1- CIPF coverage limit per general account category$1 million
- CDIC coverage per depositor per insured category per member institution$100,000
- OBSI award limit (recommended compensation cap)$350,000
- New IA must complete WME within…30 months of licensing
- IA training period (supervised)90 days
- IR training period (supervised)30 days
- KYC review frequency (no client interaction)Every 36 months
- DNCL restriction triggers once a number has been registered for…more than 31 days
Economics & Monetary Policy
2- Bank of Canada inflation target band1% – 3%
- 25 basis points equals0.25%
- 100 basis points equals1.00%
- Monetary policy fully affects inflation in>18 months
- Hyperinflation defined as>50% per month
- Operating band width (BoC overnight rate)25 basis points
Fixed Income & Trading
3- Standard bond par value (CIRE math)$1,000
- Bond quote 98.00 on a $1,000 par$980
- Medium-term bond definition5 – 10 years
- Long-term bond definition>10 years
- Call / redemption notice window10 – 30 days
- Government of Canada T-bills settleSame day
- Most other bonds and securities settleT+1 (one business day)
- Semi-annual bond math rule÷ annual rate by 2; × periods by 2
- Duration shortcutDuration × Δyield = approx. % price move (opposite direction)
Equity, Dividends & Indexes
4- Usual stock trading unit (board lot)100 shares
- Common and preferred share settlementT+1
- Ex-dividend rule (post-2024)Ex-dividend date = record date
- Last cum-dividend dayBusiness day before record date
- 2-for-1 split outcomeShares double, price halves, total value unchanged
- 1-for-10 consolidation outcomeShares ÷ 10, price × 10, total value unchanged
- S&P / TSX 6060 companies
- DJIA30 companies
- S&P 500500 companies
Margin, Orders & Settlement
5- Listed long margin: stock $2.00 and over50%
- Listed long margin: stock $1.75 – $1.9960%
- Listed long margin: stock $1.50 – $1.7480%
- Listed long margin: stock under $1.50100% (no loan margin)
- Short-sale margin: $0.25 – $1.49100% of market value
- Short-sale margin: under $0.25$0.25 per share
- Reduced-margin eligible securities30%
- GTC order on TSX expires after90 calendar days (unless cancelled)
- Day orderExpires at end of trading day
Options, Futures & Derivatives
6- One stock option contract= 100 shares
- Total premium formulapremium × 100 × contracts
- Call breakevenstrike + premium
- Put breakevenstrike − premium
- Call intrinsic valuemax(market − strike, 0)
- Put intrinsic valuemax(strike − market, 0)
- Futures margin (typical)3% – 10% of contract value
- Example futures margins (CIRE)Initial $2,000 / Maintenance $1,500
Rights & Warrants
7- Rights stop trading atNoon on expiry day (TSX & TSXV)
- Rights regular delivery settlementOne business day after transaction
- Ex-rights formula (1 right)(S − X) ÷ n
- Cum-rights formula (1 right)(S − X) ÷ (n + 1)
- Example rights issue (CIRE textbook)5 rights for 1 share, subscription $23
Corporations & Financial Statements
8- Private corporation max shareholders≤ 50
- Accounting equationAssets = Liabilities + Equity
- Significant influence≥ 20% (but < 50%)
- Control of subsidiary>50%
- Cost method (passive investment)<20%
- Example useful life (CIRE textbook)8 years
- Straight-line depreciation rate (example)12.5%
- Double declining-balance rate (example)25%
- Right of withdrawal window2 business days
- Early-warning disclosure threshold10% of voting rights
- Takeover bid / control-position threshold>20% of voting rights
- Insider reporting threshold>10% of voting rights
Financing, Listing & Filings
9- Greenshoe / over-allotment option max15%
- TSX annual audited statements filed within90 days of year-end
- TSXV annual audited statements filed within120 days of year-end
- TSX quarterly interim statements filed within45 days of quarter-end
- TSXV quarterly interim statements filed within60 days of quarter-end
- TSXV offering gross-proceeds limit (certain docs)$2 million
- Max % of an offering placed with one purchaser20%
- CPC IPO raise range$200,000 – $9,500,000
- CPC qualifying transaction deadline24 months
- Final prospectus must be delivered bymidnight of the 2nd business day after the purchase and sale agreement
Client Tiers, Exempt Market & AML
10- Accredited investor, financial assets (NI 45-106)> $1,000,000
- Accredited investor, net assets≥ $5,000,000
- Accredited investor, income (alone / with spouse)$200,000 / $300,000, each of last 2 yrs
- Institutional Client (CIRO IDPC Rule 1201)> $10,000,000 securities under admin.
- Permitted Client, individual (NI 31-103)≥ $5,000,000 financial assets
- Permitted Client, non-individual≥ $25,000,000 net assets
- PCMLTFA Large Cash Transaction Report$10,000+ → file within 15 calendar days
- Complaint substantive-response deadline90 calendar days
- CIPF mutual fund dealer client coverageIncluded since Jan 1, 2023 merger
- DSC mutual funds (new sales)Banned since June 1, 2022
- Alt. mutual fund leverage (NI 81-102)≤ 50% NAV borrow+short · ≤ 300% aggregate
- LSVCC federal tax credit15% on up to $5,000/yr
Top 10 Numbers to Memorize
- #1CIPF coverage$1M
- #2CDIC coverage$100K
- #3BoC inflation target1–3%
- #4Bond par (CIRE math)$1,000
- #5Gov of Canada T-bills settleSame day
- #6All other securities settleT+1
- #7Stock option contract= 100 shares
- #8Early warning disclosure10%
- #9Takeover / control position>20%
- #10Greenshoe option15%