The Canadian Securities Course cost approximately $1,395 CAD in its final years. That price no longer matters: CIRO retired the CSC on January 1, 2026 and replaced it with a new nine-exam Proficiency Model. If you are budgeting for a financial industry career today, the numbers have changed.
What the CSC Cost
CSI charged around $1,395 CAD for the two-volume bundle plus exam fees. That covered both Part 1 and Part 2 exams, the printed or digital course materials, and one exam attempt per part. A second attempt added another $150 to $200 per exam.
For most candidates, the total out-of-pocket landed between $1,395 and $1,700 CAD depending on whether they passed on the first try.
That pricing held roughly stable from 2018 through 2025. The 2024 edition was the last one CSI sold before CIRO announced the transition and cut off new CSC registrations ahead of the January 1, 2026 retirement date.
The 2026 Replacement and What It Costs
CIRO replaced the CSC with a nine-exam Proficiency Model administered through Fitch Learning. The exams cover categories including client management, securities products, ethics, and regulatory compliance. The full replacement structure is explained here.
Fitch Learning charges roughly $895 to $1,200 CAD for CIRE prep packages, depending on whether you choose the study guide alone or a bundle with practice exams and mock tests. 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.
The pricing spread is wide because Fitch Learning sells modular bundles. Buying prep for one or two exams costs less than buying prep for the full nine-exam suite.
Pricing Comparison Table
| Option | Cost (CAD) | What You Get |
|---|---|---|
| CSC (2025, final year) | ~$1,395 | 2-volume bundle + 2 exam attempts |
| Fitch Learning CIRE prep | $895 to $1,200 | CIRE-specific study materials + practice questions |
| Ciroexam | $29.99/month or $249/year | All 9 CIRO Proficiency Model exams in one subscription |
Ciroexam covers the full nine-exam suite. Fitch Learning bundles are structured per-exam or per-category. If you need to pass multiple CIRO exams, Ciroexam is the lower-cost option. See the full pricing page for what each plan includes.
Does Anyone Still Need the CSC?
After January 1, 2026, new registrants at CIRO member firms cannot use the CSC to meet proficiency requirements. The question of whether the CSC is still required depends almost entirely on your hire date and registration category.
Existing registrants who completed the CSC before the retirement date retain that credential in their profile. They do not need to retake anything. But anyone entering the industry now must complete the new CIRO Proficiency Model exams.
Some firms that are not CIRO member firms, including certain portfolio management companies and exempt market dealers registered under provincial securities law rather than CIRO, may still reference the CSC in their internal training requirements. That is a firm-specific policy decision, not a regulatory mandate. If your employer told you to take the CSC after 2025, confirm with your compliance department whether they mean the CSC or the CIRE.
Is the New System Worth It Financially?
The CSC at $1,395 was expensive for a single credential. The CIRO Proficiency Model spreads that cost across nine exams, but the cumulative investment in prep materials, exam fees, and time can exceed what the CSC cost if you are not careful about where you study.
A Ciroexam annual subscription at $249 costs less than 18% of what the CSC cost in its final year. 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 credential is required for most front-office registrations at CIRO member firms, 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. Many candidates buy a Fitch Learning bundle, a third-party question bank, and a textbook, then use only one of them.
Start with a free 25-question diagnostic at Ciroexam. 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).
Under the old CSC structure, CSI handled both. They sold the course materials and administered the exam. The $1,395 covered both in a single transaction.
Under the new CIRO model, Fitch Learning handles exam administration and sells prep materials, but firms can also source prep from third-party providers like Ciroexam. The exam fee and the prep cost are now separate decisions.
If your employer covers the exam fee (many do, it is a regulatory requirement for registration), your out-of-pocket is only the prep material cost. A $249 annual Ciroexam subscription versus a $1,200 Fitch Learning bundle is a meaningful difference when the exam fee is already covered.
Summary
The CSC cost around $1,395 CAD and is now retired. The CIRE and the broader CIRO Proficiency Model replace it. Fitch Learning prep packages run $895 to $1,200 depending on bundle. Ciroexam 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 Ciroexam 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. CIRO did not subsidize the exam. The same applies today: some firms cover CIRO exam fees for new registrants, others do not. Confirm with your HR or compliance team before paying out of pocket.
Can I still register for the CSC in 2026?
No. CSI stopped accepting new CSC registrations before January 1, 2026. If you begin the registration process at a CIRO member firm today, you must complete the CIRO Proficiency Model exams, not the CSC.
Does Ciroexam include the actual CIRO exam fee?
No. Ciroexam 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 to Fitch Learning when you register for each exam.
How long does it take to study for the CIRE?
Candidate reports vary, but most people studying part-time spend six to ten weeks per exam. 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.