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SIP Credential  
Program Description
SIP Online Application
SIP Credential Requirements
SIP Test-Out Option
SIP Program Fees
Tuition Reimbursement
Recommendation Letter Templates

SIP E-Courses  

For descriptions of these courses and additional eLearning courses offered by SOF, click on the courses below or go to the eLearning page.
SIP Level I
  US Corporate Actions Introduction
  US Securities Industry Basics
  US Corporate Actions Types
  US Brokerage Processing
  US Custody Processing
  Ethical and Professional Standards
SIP Level II
  US Corporate Actions Processing
SIP Level I
  US Instruments - Equities
  US Instruments - Fixed Income
  US Investment Management Processing
SIP Level II
  US Mutual Funds Introduction
  Foreign Currency Processing
  International Regulations and Standards
  International Markets and Instruments
  International Securities Processing
  Internet and Technology
SIP Level II
  US Listed Equity Options
  US Instruments - Structured Securities
  US Margin Lending and Processing
SIP Level I
  US Regulators and Legislation
  US Trading
SIP Level II
  Global Custody Processing
  US Corporate Actions Information
  International Securities Participants
  Operations Risk and Compliance
  Introduction to US Trust
  US Instruments - Derivatives
  US Mutual Fund Processing
  US Securities Lending
  US Instruments - Credit Derivatives

Securities Industry Professional (SIP) Credential Requirements

There are seven requirement categories for the SIP Credential Program.

Required to Enter the Program
Required to Obtain the Credential
Required to Maintain the Credential
1.  Application Form (including an ethics statement)
2.  Education
3.  Experience
4.  Recommendations
5.  Successfully Pass Courses within each Level
6.  Successfully Pass the Level Exam for each Level
7.  Continuing Education
  1. Application Form

    Applicants must complete the SIP Online Application.

    SIP Credential Application

    Each candidate must complete an application form with the following:

    Contact information
    Current employment information and supervisor
    Job History & Resume
    Signed Ethics statement
    Senior manager's recommendation(s)

    Test-Out Option Applicants

    Candidates for the Test-Out Option must complete the SIP Online Application and provide additional recommendations.

  2. Education

    The candidate should have either a U.S. bachelor's degree or comparable non-U.S. degree. If a candidate does not have a degree, a total of at least four years of qualified professional work experience and an additional senior manager recommendation identifying the candidate's performance and potential may be acceptable.

  3. Experience

    Candidates need a minimum of three years securities industry experience in order to enter the program.

    If a firm wishes to enter a candidate into the program who has fewer than the required number of years of experience, an exception can be made on a case by case basis and with an additional recommendation by the recommender's supervisor.

  4. Recommendation

    All candidates must submit at least one recommendation to enter the program.

    Additional recommendations may be required to waive minimum education or to waive minimum experience.

    Recommendations should be completed by a manager senior to the candidate. All required recommendations must be completed by different people.

    The following points should be addressed in the recommendation letters:

    How long the recommender has known the candidate
    How long the recommender has worked with the candidate
    An assessment of the quality of the candidate's work experience
    An assessment of the candidate's character and professionalism
    An assessment of the candidate's ability to complete the course work
    An assessment of the candidate's future potential in the securities

    The templates provided show sample text for each type of recommendation.

    Recommendation Letter Templates
    Basic Recommendation to enter the program
    Recommendation to waive the minimum education
    Recommendation to waive the minimum years of experience. This recommendation should be by the candidate's supervisor
    Recommendation to allow the candidate to by-pass the courses with Level I Test-Out Option
    Recommendation to allow the candidate to by-pass the courses with Level II Test-Out Option
    Recommendation required to allow the candidate to by-pass the courses with Level III Test-Out Option

  5. Course Requirements

    All courses in each level must be completed to pass the level.

    Level I: Level I courses
    Level II: All Level I courses, plus Level II courses
    Level III: All Level I courses, all Level II courses, plus Level III courses

    To pass a course, courses must be completed within six months. Throughout the course there are a series of quizzes. Scores on these quizzes do not count towards the final grade. At the end of each course there is an online test covering the material presented. The course test must be passed with a grade of 90%. All of the questions on the final test for a course will have been covered in the quizzes.

  6. Credential Testing

    There are three exams required to pass the levels in the SIP Credential Program:

    Level I  Certificate Exam
    Level II  Certificate Exam
    Level III  SIP Credential Exam

    Upon successful completion of all the required courses for a specific level, the candidate may take the related Level Exam. A score of 85% is needed to pass the Level Exam. All of the questions on a Level Exam will have been asked previously in the courses for that level.

  7. Continuing Education

    Continuing Education is necessary to maintain the SIP Credential:

    Credit for industry participation
    Level I: 3 credits per year
    Level II: 5 credits per year
    Level III: 20 credits per year
    Credits can be earned through participation in classes, conferences and other industry events. The credit available for individual activities will be available on this website.