Regulation and adviser conduct
Connect corporate finance law, regulatory responsibilities and governance with an adviser’s work.
HKSI LE Regulatory paper
HKSI Paper 5Regulation of Corporate Finance
Approach corporate finance from the regulatory side. Identify the transaction, participants and stage before deciding which approval, disclosure or conduct obligation applies.
- Multiple-choice questions
- 40 questions
- Exam time
- 60 minutes
- Passing mark
- 70%
WHAT TO STUDY
What Paper 5 tests
Checked 5 October 2026: the official guide is v3.4, with the public syllabus effective from 1 March 2026. Check separate official requirements for specialist sponsor or takeover work.
Check the official syllabusListing and its participants
Compare listing routes, Main Board and GEM requirements, sponsors, coordinators and intermediaries.
Continuing duties and capital changes
Separate ongoing obligations, treasury shares and shareholder-rights changes from initial listing procedures.
Takeovers and share buy-backs
Identify offer types, concert parties, timetables and the duties of directors and advisers.
Other financing arrangements
Compare convertible bonds, rights issues and share schemes through their procedures and documentation.
FROM RULE TO ANSWER
Make each mistake useful
Answer a focused set, read why an option is right, and return to the rule behind your mistake.
878original practice questions in this paper
Understand the reasoning
Use explanations to compare the rule, its exceptions and the incorrect options.
Review the questions you need
Return to wrong answers and bookmarks, then test yourself under the paper’s time limit.
These are independently written practice questions, not official past papers or recalled exam questions. Counts reflect the published bank checked on 5 October 2026 and may change with content updates.
A PRACTICAL ROUTE
Build a revision routine
- Draw separate timelines for listing, takeover and fundraising, with a participant at each stage.
- Practise the 878 questions by chapter; record transaction type, approvals and disclosure behind errors.
- Attempt 40 questions in 60 minutes, then revisit confused offer and capital-change rules in the official guide.
YOUR PAPER, YOUR APP
10minquiz HKSI 2+5+11
HKSI 2＋5＋11Papers 2, 5, 11 in one app. Select Paper 5 from the top-left paper selector.
Start with free practice. The 90-day Pro option opens the full question bank and additional revision tools; check the store purchase screen for the current price and terms.
BEFORE YOU BEGIN
Paper 5 questions, answered
How do Papers 5 and 11 differ?
Paper 5 focuses on legal, listing and transaction requirements. Paper 11 focuses on financial analysis, financing choices, valuation and acquisition practice.
How can I revise takeovers beyond memorising percentages?
Identify the parties, ownership changes and concert-party relationships first. Follow the transaction timeline and learn each figure with its conditions and exceptions.
Is there a separate Paper 5 reading course in the app?
Paper 5 currently offers original practice, answer explanations and mocks, without a separate reading course. Connect explanations to the relevant official guide chapters.
Will Paper 5 practice mix in Papers 2 or 11?
Selecting Paper 5 sets practice and mocks to its own bank. Wrong questions, bookmarks and mock history remain separate, while Pro access is shared within the app.
Official sources and support
Checked on 5 October 2026. Exam rules, syllabus versions, fees, dates and licensing requirements may change; confirm the documents that apply to your exam date.
- HKSI Institute: Paper 5 syllabus
- HKSI Institute: Licensing Examination overview
- SFC: licensing and registration requirements
HKSIPapers is an independent preparation resource. It is not affiliated with or endorsed by HKSI Institute or the SFC.
