Advance Your Career in Investment and Securities with a CIS Professional Qualification








Who are Stockbrokers?

Stockbrokers are professionals recognised as securities dealers on the floor of the Stock Exchange.  They deal in the Stock market by buying and selling stocks, shares, and other securities for clients.  They also provide securities issuance services, investment advice, portfolio management and securities analysis.


What is the ‘ACS’ Qualification?

ACS (Associate Chartered Stockbroker) is the only qualification which focuses on stockbroking, securities and investment profession in Nigeria.  The qualification has global recognition and thus serves as your gateway to international securities and investment careers.



On completion, you will be a Chartered Stockbroker (ACS)

Find more diverse job opportunities open to you in the financial services industry, in business, in public service or as a self-employed.

Be well remunerated as a securities trader, fund manager, pension fund manager or investment analyst in stockbroking houses, banks, issuing houses, large investment companies, pension fund administrators, insurance companies, universities/research organisations, government, debt management office, etc.

Possess the practical skills that can make you a leader in your field.

Progress to the final examination level of CIIA, an international passport to working in the international financial centres of the world.



To qualify for student registration, you must have a minimum of a university first degree or an HND in any discipline.

If you have a professional business qualification approved by the CIS Council for student registration, you will be able to study for ACS qualification with or without a first degree or HND.  Such qualifications include ACA – ICAN, ICAEW, ICAS; ACCA – UK; ACMA – UK; ACIB – Nigeria, UK, Canada; ACII; ACIS; ACIA.  If your professional qualification is not listed, you may contact the Institute for guidance.

To sit for the Institute’s professional examinations, an applicant must be registered as a student with the Institute.

Candidates taking the March examinations must register as students not later than November 30th of the preceeding year and those for September examinations not later than May 31st in the same year.



There are two levels to the CIS qualification with two exam sittings per year in the months of March and September.

In order to become an ACS holder you must complete Level I and Level II of the ACS examination. In addition to which you must have at least three years of relevant experience, one of which must be post-qualification.


There are four examination papers in each level with each paper comprising three (3) subjects


Paper   Subjects
1 Financial Accounting and Financial Statement Analysis

Economics and Financial Markets

Quantitative Analysis and Statistics

2 Corporate Finance

Equity Valuation and Analysis

Fixed Income Valuation and Analysis

3 Derivative Valuation and Analysis

Portfolio Management

Commodity Trading and Futures

4 Ethics and Professional Standards

Law relating to Securities and Investments

Regulations of Securities and Corporate Finance.



Level 1 Exam

Time  –  3 hours

Level 2 Exam

Time  –  3 hours


100 multiple choice questions

Multiple choice questions,
Short and Long Essay questions,

Calculations and Case Study.


Candidates willl learn the basic knowledge and understanding of the 12 subjects


The emphasis is on indepth knowledge and practical application of the 12 subjects.




For further information contact:


The Registrar & Chief Executive
10th floor, CSS Bookshop House, 50/52 Broad Street, Lagos.
Tel: +234 01-2802180 – 5,  +234 -01-7615880-1, +234-01-2120430-1
Tel: +234 01-2802186




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