CISI Introduction to Securities & Investment Past Papers: What Exists (2026)
This page covers the UK unit, not the International Introduction to Securities & Investment. No public past papers exist for it. Here's what CISI provides, and where to get current, weighted 50-question mocks.
Sitting the International Introduction instead?Are there past papers for the CISI Introduction to Securities & Investment?
Not publicly. CISI releases one official sample paper, 50 questions in an hour, mirroring the real format, and the official workbook carries end-of-chapter questions and a practice paper. Previously sat papers are never published, since questions come from a rotating live bank. The exam is 50 multiple-choice questions in 60 minutes with a 70% pass mark, so 35 correct, and no negative marking.
- Official past papers
- None public; previously sat papers are never released
- What CISI does provide
- One official 50-question sample paper mirroring the real format, best saved for a single timed sitting
- Official workbook
- End-of-chapter questions and a practice paper; valuable once, then memorised
- Exam format
- 50 multiple-choice questions in 60 minutes, no negative marking
- Pass mark
- 70%, which is 35 out of 50
- Level
- Level 3 foundation award
- Syllabus
- 11 elements, unevenly weighted, from seven questions on Equities down to three on the lightest topics
- Common mix-up
- The UK Introduction is a different paper from the International Introduction, and unofficial material often conflates the two
If you are looking for past papers for the CISI Introduction to Securities & Investment, the short version is: they do not exist publicly. CISI publishes one official sample paper for the exam, the workbook has its own questions, and everything beyond that is unofficial material of unknown age. This page covers what you can actually use, and how to replace the past-papers habit with something better.
Test yourself on Intro to S&I (UK)
4 questions written to the current syllabus, in the format of the real paper. Pick an answer and the explanation appears. Nothing to sign up for.
What is the term for an automated service that builds a portfolio from an online risk questionnaire with no adviser involved?
Not quite. The answer is A.
Robo-advice uses an online questionnaire and an algorithm to profile the client and select a model portfolio, so the whole process runs without a human adviser. Open banking is the runner-up because it is also a customer-facing technology service delivered through an app, but it is about sharing account data securely with authorised third parties. Peer-to-peer lending connects lenders with borrowers, and crowdfunding raises money for a venture from many small backers.
A bank approves a mortgage and credits the sum to the borrower's account. In doing so it has created:
Not quite. The answer is A.
Lending by a commercial bank creates a new deposit in the borrower's account, and as that money is spent and redeposited the process repeats, expanding broad money. Central bank reserves are the closest wrong answer, but only the central bank can create those; commercial lending redistributes them. Banknotes are issued by the Bank of England in England and Wales, and buying a government bond moves existing money between holders.
A forward foreign exchange rate differs from the spot rate for the same pair in:
Not quite. The answer is D.
Both are prices for exchanging the same two currencies; the difference is when delivery happens, with spot at two business days and a forward on a later date agreed between the parties. The dealing venue is the runner-up, but both are dealt over the counter with a bank. Both rates are struck at the time of dealing, and the pair is identical in each case, so neither of those separates them.
A company raising new money sells its shares directly to a small group of selected institutional investors, without publishing any offer to the public. Which method of issue has it used?
Not quite. The answer is D.
A placing sells the new shares to a chosen list of institutions, which is quick and cheap because no public offer document is needed. An offer for sale is the closest alternative but it invites the public to subscribe, and an intermediaries offer distributes shares through brokers to their own clients. An introduction raises no money at all.
That is 4 of more than 10,800 questions in the PasskeyPrep bank. Chapter 1 of every exam is free, with the study notes and flashcards that go with it, and every answer is marked and explained the way these were.
The paper you are preparing for
| Qualification | Level 3 foundation award |
| Questions | 50, multiple choice |
| Time | 60 minutes |
| Pass mark | 70% (35 out of 50), no negative marking |
| Syllabus | 11 elements, unevenly weighted |
The 50 questions are weighted by element, from seven on Equities down to three each on the lightest topics, and revising to that weighting is the single highest-value thing you can do. The full table is in our guide to passing the Introduction to Securities & Investment.
What CISI actually gives you
One official sample paper, 50 questions in an hour, mirroring the real format. It is the best single piece of free official material, and most people waste it by opening it too early. Save it for a full, timed sitting near the end of your revision.
The official workbook, with end-of-chapter questions and a practice paper. A fixed set: valuable once, then memorised.
Revision Express and the CBT demo. The paid revision tool and the free Prometric demo of the on-screen test.
One caution specific to this exam: much of what circulates online conflates the UK Introduction to Securities & Investment with the International Introduction, a different paper. Check that anything you revise from matches the exam you are booked for.
Why the free PDFs undermine you
The Introduction syllabus carries live figures: ISA allowances, capital gains rates, compensation limits, stamp duty thresholds. These move with Budgets and regulatory changes, and old mocks keep testing the old numbers. On a paper where you need 35 of 50 and the distractors are built from plausible near-misses, a handful of confidently learned stale answers is the difference between passing and not. The uploaded PDFs on Scribd and the flashcard decks on Quizlet are undated, unverified, and often not even about the right variant of the exam.
The alternative: current, weighted 50-question mocks
PasskeyPrep gives the Introduction exam five full mock papers, each 50 questions in 60 minutes, weighted across the eleven elements exactly like the real paper, with no overlap between papers. The bank is written from scratch against the current syllabus and current UK figures, every answer is explained, and practice mode drills you element by element with your weak spots surfacing first. Use repeated full-mock scores alongside your timetable and confidence when deciding when to book.
Start free. Try free Introduction to Securities & Investment practice questions, sit the free CISI mock exam taster, or take the Introduction diagnostic to sample nine of the 11 elements and review the sampled topics.
Every revision resource for this exam, in one list
- The official CISI workbook, current edition, from the CISI shop.
- The official 50-question sample paper, saved for one timed sitting.
- CISI Revision Express (paid) and the free Prometric CBT demo.
- PasskeyPrep: the full question bank, five weighted 50-question mocks, explanations, weak-spot tracking and a readiness score. £59 once for this paper, or £89 for all fourteen exams, for 90 days from purchase.
- Free practice questions, the free mock taster and the Introduction diagnostic.
- Our full exam guide and the complete guide to passing CISI exams.
PasskeyPrep is an independent study tool and is not affiliated with, endorsed by, or accredited by the Chartered Institute for Securities & Investment. For the picture across every paper, see CISI past papers: what's actually available.
Sit a whole paper for free. The free 50-question Introduction to Securities & Investment mock exam runs to the real time limit and the published element weighting, with a score, an element breakdown and an explanation for every answer. No sign-up.
Frequently asked questions
Are there past papers for the CISI Introduction to Securities & Investment?
Not publicly. CISI publishes one official sample paper and includes questions in the official workbook, but previously sat papers are never released. Questions are drawn from a rotating live bank.
How many questions is the CISI Introduction to Securities & Investment exam?
50 multiple-choice questions in 60 minutes, with a 70% pass mark, so 35 correct to pass. There is no negative marking, so answer everything.
Is the UK Introduction exam the same as the International Introduction?
No. They are related but different papers, and a lot of unofficial material online mixes them up. Check that your revision material matches the exam you are actually booked for.
What should I use instead of past papers?
The official sample paper once, timed, plus a renewable source of current, exam-standard questions weighted like the real paper. That is what PasskeyPrep's practice bank and five full mocks are built to be.