Comparison
A side-by-side comparison of Ciroexam and the CSI Canadian Investment Regulatory Exam course. Both are independent prep providers for the CIRO Proficiency Model exam (the CIRE) that replaced the Canadian Securities Course in January 2026. Honest read-out, including where CSI is genuinely stronger.
| Feature | Ciroexam Live | CSI CIRE course |
|---|---|---|
| Annual cost (CIRE prep) | $250 CAD | ~$1,095 CAD |
| Includes the other 8 CIRO Proficiency Model exams | Yes | Each separately, $700-$1,500 each |
| Practice questions on CIRE | 1,032 | ~600 (unconfirmed) |
| Lessons covering every outcome | 99 (one per CIRE outcome) | Yes (textbook chapters) |
| Two unique full-length timed mocks | Yes (110 Q × 120 min, disjoint pools) | 1 mock (most editions) |
| AI tutor on every wrong answer | Yes (Gemini, grounded in CIRO rules) | No |
| Per-question Teach-Back grading | Yes | No |
| Per-question AI variation drilling | Yes | No |
| Pass-probability score | Yes (calibrated, 0-100) | No |
| Spaced-repetition flashcards | 1,032 cards, SM-2 schedule | No |
| Free 25-question diagnostic | Yes (no card) | No |
| Mobile + desktop synced | Yes | Desktop-first textbook PDF |
| Course access duration | While subscribed (cancel anytime) | 12 months from purchase |
| 30-day money-back guarantee | Yes | Conditional refund only |
| Updated for the 2026 CIRO Proficiency Model | Yes (built 2026) | Yes (transitioned from CSC) |
| Independent of CIRO and Fitch Learning | Yes (we don't pretend otherwise) | Owned by Moody's |
Honest call-out. The CSI textbook is genuinely thorough on the macroeconomic and valuation chapters — if you're coming from a non-finance background and want a book-length narrative, the CSI text reads more like a textbook than ours does. Our lessons are exam-prep practical, not encyclopaedic.
CSI also has the longer history. Some candidates feel more confident with the incumbent's name on the cover, and some employers ask which course you used. If either of those matters, factor it in.
CSI is owned by Moody's. The official exam administrator for the CIRO Proficiency Model is Fitch Learning. Both Ciroexam and CSI are independent prep providers; neither writes the official exam. We're upfront about that — we add value through our practice bank, AI tutor, and pricing, not through any affiliation we don't have.
Two reasons. First, our cost structure is software, not printed textbooks and instructors. Second, we want CIRE prep to stop being a $1,000 gating cost between candidates and a career. If you do the math, CSI charges roughly $1.10 per CIRE practice question. We charge $0.24.
No. Our 99 lessons cover every CIRE outcome and cite the actual CIRO rule, NI, or statute that the question tests. Many of our subscribers come from candidates who tried CSI and found the textbook too dense. That said, if you already own CSI material, our platform layers cleanly on top — use ours for practice + AI feedback, theirs for narrative depth.
We can't guarantee a first-attempt pass and we don't claim to. We can guarantee that the platform shows you a calibrated pass-probability score before you sit, drills you on weak outcomes, and grounds every explanation in a specific CIRO rule. Candidates with 80+ on the readiness ring + a passing Mock A or Mock B score historically do pass on the first attempt.
Use both. Take our free 25-question diagnostic. If our element-level scoring tells you you're weak in 2-3 elements, drill those with our practice bank and read CSI's chapters on those specific topics. The two products are complements, not substitutes — and our 30-day money-back means you can stop after a month if it didn't help.
Try the diagnostic before you commit to either.
25 questions, 25 minutes, real outcome-by-outcome score. No card. Tells you where you actually stand against the CIRE blueprint, regardless of which course you end up using.