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SIP Credential  
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SIP Credential Requirements
SIP Test-Out Option
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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

Test-Out Option Requirements

The SIP Program recognizes that many people have experience in some areas that are covered by this credential and not in other areas. Since the goal is to ensure that people have the required level of knowledge, the Test-Out Option allows candidates to select only the courses that they need.

Outside of this one difference, all of the other requirements are the same.

•  All of the requirements for admission are the same.

•  The Final Exams for each Level are the same as the exams taken by students in the regular admission.

•  The certification is the same.

•  The Continuing Education requirements are the same.

The admission requirements for the Test-Out Option are:


Application & Fee

Minimum Experience


Credential Exam



Three years relevant experience

Basic recommendation

for Level I Test-Out

Level I
Certificate Exam



Two additional years of experience

for Level II Test-Out

Level II Certificate Exam



Two additional years of experience

for Level III Test-Out

Level III SIP Credential Exam

Credential Exam

Candidates for the Test-Out Option will be allowed to take the exam for each Credential Level twice for the single fee. The first time will not be counted if it is not passed. If the candidate takes the exam more than twice, the re-testing fee will apply. If the candidate fails the exam a third time, he/she will be ineligible for the Test-Out Option and must take all of the remaining the courses.

Once successfully passing the exam for any Level, individuals will be required to maintain the same Continuing Education requirements as those who have completed the regular program for that Credential Level.