HKSI Paper 12 pass rate
Asset Management
Across Sep 2025–Aug 2026 (12 sitting months), HKSI Paper 12 averaged 74.25% — ranked 14 of 17 by monthly average pass rate, lowest first. The month-to-month spread is 47.06 percentage points. The most recent half of the window averaged 67.3% versus 81.2% earlier — a decline of 14 points.
Month-by-month pass rate
Source: 香港證券及投資學會（HKSI Institute）官方「考試合格率」頁 Snapshot 2026-10-02．HKSI publishes a rolling 12-month window only; months outside it are no longer shown officially.
Monthly averages are not weighted by candidate counts. The order compares published pass rates across different candidate groups and papers; it does not measure personal pass probability.
HKSI PAPER 12 · REVISION DESK
Paper 12: Match investment objectives to fund strategy
Paper 12 studies asset-management practice. Compare asset classes, fund structures, strategies and risks together; past returns alone do not select a suitable fund.
Official eStudy Guide：v3.7 Verify the edition ↗
Which topics candidates actually get wrong
Measured from 131 real answers by 7 devices across 127 questions in our Paper 12 app. Only the first recorded answer per device and question is counted. This is practice accuracy, not an exam pass rate.
Sample note: this paper has 131 answers from 7 devices — smaller than our other papers, so read the ordering as indicative rather than settled.
| Topic | Accuracy | Answers |
|---|
FAQ
- What is the pass rate for HKSI Paper 12?
- 74.25% on average across Sep 2025–Aug 2026, based on HKSI's own monthly figures. The best month was Nov 2025 at 100%; the worst Mar 2026 at 52.94%.
- Is HKSI Paper 12 hard?
- Its monthly average is ranked 14 of 17 by monthly average pass rate, lowest first. Different candidate groups sit each paper and month, so the ranking does not isolate exam difficulty or show that a particular month will be easier. Use your own practice mistakes to plan revision.
- Which topics do candidates get wrong most in Paper 12?
- From 131 real practice answers, the weakest topic is “undefined” at undefined% accuracy, and the strongest is “undefined” at undefined%.
Other papers
Pass rates are reproduced from the HKSI Institute for reference only and may be revised at any time; confirm against the official page before relying on them.
