CIC Study Guide 2026
Everything you need to pass the CIC exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CIC Exam Format at a Glance
📚 CIC Topics to Study (69)
✍️ Sample CIC Questions & Answers
1. A CIC's firm receives soft-dollar arrangements from a broker. Under ethical guidelines, these arrangements are permissible only if:
Soft-dollar arrangements are permissible when the goods or services received benefit the clients who generated the commissions.
2. A client instructs a CIC to vote their proxies in a way that benefits a political cause rather than maximizing share value. The CIC should:
Proxy voting authority belongs to the client, and the CIC must follow explicit client instructions on how to vote their securities.
3. When a CIC manages both discretionary and non-discretionary accounts, trade allocation must be:
Ethical standards require that trade allocations be fair and equitable to all clients regardless of account type or size.
4. A CIC holder is aware that their firm is about to be acquired. A friend asks for advice on whether to invest in the firm's stock before the announcement. What must the CIC holder do?
Using material non-public information constitutes insider trading, and a CIC holder must refuse to share it and warn the friend of legal prohibitions.
5. Which of the following best describes the Sharpe Ratio?
The Sharpe Ratio divides a portfolio's excess return (above the risk-free rate) by its standard deviation, measuring reward per unit of total risk.
6. A CIC holder is preparing marketing materials and wants to highlight their designation. Which statement is appropriate?
Marketing materials must accurately describe the CIC credential without making exaggerated claims about status, returns, or regulatory exemptions.