The CIRE has two cost components: the exam registration fee paid to CIRO or Fitch Learning, and the preparation materials you buy separately. Exam fees are set by CIRO and collected by Fitch Learning at the time of booking. Preparation costs vary widely, from approximately CAD 895 to 1,200 for a Fitch Learning package down to CAD 29.99 per month for Ciroexam. If your employer offers a professional development stipend, the preparation cost may be fully or partially reimbursable.
What you pay to sit the CIRE
The Canadian Investment Regulatory Examination replaced the CSC on January 1, 2026. It is 110 questions, 120 minutes, and requires a 60 percent passing mark. The exam is administered by CIRO and delivered by Fitch Learning at testing centres across Canada or via online proctoring.
Exam registration fees are paid directly to Fitch Learning when you book your sitting. CIRO has not published a fixed public price for the exam fee itself at the time of writing. Contact Fitch Learning directly or your sponsoring dealer for the current registration fee before you budget.
What you pay for preparation is a separate question, and this is where the cost range is wide.
Preparation cost comparison
| Provider | Cost | What is included | Other CIRO exams |
|---|---|---|---|
| Fitch Learning | CAD 895-1,200 (approx.) | Course materials, some practice questions, platform access for CIRE | Not included (separate purchase per exam) |
| Ciroexam | CAD 29.99/mo or CAD 249/yr | 1,000+ practice questions, 2 full mock exams, lessons, free diagnostic | All 9 CIRO Proficiency Model exams included |
| Self-study (CIRO materials only) | Free | CIRO published blueprint and guidance documents | N/A |
The Fitch Learning figure is approximate. Prices vary by package tier and whether your dealer firm has a volume agreement with Fitch. Some firms provide Fitch materials directly to candidates at no charge, in which case your out-of-pocket is zero for preparation.
Self-study using only free CIRO materials is possible but carries meaningful risk. CIRO publishes the blueprint, sample questions, and rule documents at no cost, but the published sample set is small and the rule documents are dense. Candidates who sit the exam having read only source materials without a structured question bank report lower pass rates.
How Ciroexam's subscription model changes the math
Ciroexam costs CAD 29.99 per month or CAD 249 per year. The yearly price works out to CAD 20.75 per month, or roughly 3 percent of the low end of a Fitch Learning package.
That gap matters more for candidates pursuing multiple CIRO registrations. Almost every CIRO registration category requires the CIRE plus at least one role-specific exam. If you need the CIRE and the Retail Securities Exam, you are looking at two Fitch Learning purchases. With Ciroexam, both exams are in one subscription.
The pricing page shows the current monthly and annual rates and what is included.
Employer reimbursement: what is realistic
Many CIRO member firms reimburse exam preparation costs. The range is wide: some firms cover CAD 500 per exam, others cover up to CAD 2,000 in annual professional development spending. A few large dealers cover Fitch Learning packages in full as part of their licensing support program.
How to find out what your firm covers:
- Check your offer letter or employment contract for a professional development clause.
- Ask HR or your branch manager directly. The answer is almost always yes if the exam is required for your registration.
- Ask whether the firm has a preferred prep provider. Some firms have a Fitch Learning account arrangement that makes the Fitch cost effectively zero for you.
If your firm reimburses preparation costs, that changes the effective price of any provider to zero or near zero. In that case, the question shifts from cost to quality: which provider gives you the best chance of passing on the first attempt.
Comparing CIRE cost to the old CSC cost
The CSC cost significantly more in preparation materials. Approved CSC course providers charged CAD 1,200 to 1,800 for course bundles. The transition to the CIRE has not meaningfully reduced the cost of the official Fitch Learning path, but it has created space for independent providers like Ciroexam to offer a lower-cost alternative.
See CSC cost comparison for a detailed breakdown of what the old CSC path cost and how that compares to the current CIRE path.
What happens if you fail and need to re-sit
Re-sit fees are set by CIRO and Fitch Learning. Preparation costs for a re-sit are lower if you already have an active subscription, since your Ciroexam access and your Fitch Learning platform access (if you paid for one) do not typically expire between a first and second attempt. The cost of failure is primarily the time lost and the re-sit fee.
The CIRE pass rate page covers what is known about failure rates and what preparation approaches reduce re-sit risk.
Total budget estimate for the CIRE
| Scenario | Preparation cost | Notes |
|---|---|---|
| Employer-provided Fitch Learning | CAD 0 | Ask HR before paying anything |
| Ciroexam monthly (one exam, one month) | CAD 29.99 | Sufficient for a focused 4-week prep |
| Ciroexam annual (all 9 exams) | CAD 249 | Best value for multi-exam candidates |
| Fitch Learning self-pay | CAD 895-1,200 | Official prep provider; contact for current pricing |
| Self-study (CIRO materials only) | CAD 0 | Higher risk; no structured question bank |
The exam registration fee applies on top of any preparation cost. Contact Fitch Learning for the current sitting fee.
Frequently asked questions
How much does the CIRE exam itself cost to register?
CIRO and Fitch Learning have not published a standardized public price for the CIRE registration fee at the time of writing. Contact Fitch Learning directly or ask your sponsoring firm for the current sitting fee.
Is Fitch Learning the only way to get CIRE prep materials?
No. Fitch Learning is the official CIRO-designated prep provider, but candidates can use any study materials they choose. Ciroexam offers an independent question bank and mock exam suite at CAD 29.99 per month or CAD 249 per year.
Does my employer pay for CIRE preparation?
Many CIRO member firms offer professional development stipends ranging from CAD 500 to CAD 2,000. Some large firms cover the full cost of Fitch Learning packages for required registrations. Ask HR or your branch manager before paying anything out of pocket.
If I subscribe to Ciroexam for one month, can I study for more than just the CIRE?
Yes. One subscription covers all nine CIRO Proficiency Model exams. If you are pursuing a registration category that requires the CIRE plus a role-specific exam, you can use Ciroexam for both without paying extra.