Licensing exam for advisers

The target group for the licensing exam for advisers is professionals who provide investment advice and insurance services to consumers and businesses regarding life insurance with a savings element.

About the exam

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The licensing exam comprises 120 questions including 10 “trial questions” divided among the following sections:

Products and handling of client transactions
Economics and finances
Ethics and rules and regulations
Pensions and insurance

Candidates are allowed three hours to complete the exam. The order of sections is random, as is the order of questions in each section.

How is the test designed?

Some exam questions include illustrations, such as a formula or a table. These questions are answered in the usual way by selecting one of the possible answers.

Some exam questions are answered by clicking somewhere on the illustration. It is clearly stated when this is required. To get the question right, the candidate must select the square containing the correct answer.

Various types of questions are used in the exam. Most questions have only one right answer and there are no special instructions for these questions. Some exam questions have more than one right answer and the number of correct answers that must be selected is clearly stated. To get the question right, the candidate must select the exact number of correct answers required.

It is not possible to discern which ten questions in the exam are “trial questions” and the answers to these questions will not be included in the final score. Trial questions are included for purposes of statistical analysis to determine whether the questions are of sufficient quality to be included in a standard exam. The other 110 questions have previously been trialled and approved.

Requirements to pass the exam

One point is awarded for each correct answer and zero points are awarded for incorrect answers. Candidates should always answer all questions, as no points are deducted for incorrect answers. Candidates must have an overall score of at least 70% to pass the exam. Results are shown immediately after the exam is completed. If you do not pass the exam and must rebook to resit it, you must choose a date at least one week after the original exam.

70%

correct is required

Proficiency requirements for the licensing exam for advisers

The proficiency requirements constitute a basic level of the knowledge required to pass the licensing exam for advisers. Based on an employee’s role and function, they may need further or advanced knowledge in addition to that covered by these proficiency requirements. It is the responsibility of the affiliated company to determine what is sufficient based on the employee’s tasks. The proficiency requirements are divided into sections, subsections and checkpoints. A checkpoint specifies what a licence holder is expected to master within a relatively small field of knowledge. Each question included in the licensing test is directly linked to a checkpoint.

The sections included are:

Products and handling of client transactions
Economics – macroeconomics, finance, personal finance
Ethics and rules and regulations
Pensions and insurance

The proficiency requirements are intended to function as a support when designing course syllabuses and serve as a basis for setting exam questions. In addition, they are designed to provide an overview of what is expected of a licence holder.

Changes to proficiency requirements

Applicable proficiency requirements are available on swedsec.se. The requirements are reviewed annually or more often if needed. Changes to the proficiency requirements are published after a decision has been taken. It is the responsibility of training providers to stay abreast of the most recent version.

Current proficiency requirements (in Swedish)

Here you can download the current proficiency requirements as a PDF. Here you will also find a link to previous versions.

2024 proficiency requirements advisers

View and download proficiency requirements for previous years in Swedish

Take the test in English

Swedsec offers the possibility to take the test in English on paper at our office in Stockholm. It only applies to management and control functions and specialists.