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Stockbroker Examinations - Course Information

Stockbroker Exams - Course Information

SAIS is in the process of revising the content of the Stockbroker preparatory courses and we are moving towards offering them on an on-line training platform. During this semester a hybrid model will be used and study material will be made available in written format as in the past. As soon as modules become available online, enrolled students will be given access to the online platform. Some of the courses will still be offered through lectures. Lectures will be held in Johannesburg only, but students in other parts of the country can join in through Skype.


The course in Taxation aims to provide candidates with a broad understanding of taxation in so far as it is relevant to Stockbrokers. The course has a strong focus on investments, and is not designed to prepare candidates to become tax practitioners or to give tax advice. The course consists of the following study units:

Study unit Topic
Study unit 1 Basic Principles of S.A. Taxation
Study unit 2 Capital vs Revenue
Study unit 3 Taxation of Individuals
Study unit 4 Taxation of Trusts
Study unit 5 Company Taxation
Study unit 6 Collective Investment Schemes & Real Estate Investment Trusts
Study unit 7 Taxation of Investment Income
Study unit 8 Taxation of Investment Income (continued)
Study unit 9 Capital Gains Tax
Study unit 10 Capital Gains Tax (continued)
Study unit 11 Taxation of Gains and Losses on Realisation of Investments
Study unit 12 VAT, STT & Other Taxes

The course is offered through distance education with the option of workshops in Johannesburg. Students in other parts of the country will be able to join in through Skype. There will be 3 workshops this semester. Important dates for 2020 are tabled below:

Event 1st Semester 2020 2nd Semester 2020
Registration opening date Wednesday 4th December 2019 Monday 4th May 2020
Registration closing date Friday 6th March 2020 Friday 21st August 2020
Course materials made available Monday 2nd March 2020 Monday 6th July 2020
Workshop 1 Thursday 23rd April 2020 Thursday 17th September 2020
Workshop 2 Thursday 21st May 2020 Thursday 15th October 2020
Workshop 3 Thursday 25th June 2020 Thursday 19th November 2020
Exam date Monday 29th June 2020 Monday 23rd November 2020


This course focuses on the analysis and interpretation of financial statements and reports. This knowledge will enable candidates to evaluate the financial and market positions of companies, the value of the securities issued and the risks associated with such securities. Ultimately this information will be used in investment decisions. The course consists of the following study units:

Study unit Topic
Study unit 1 Introduction to Financial Statements, Financial Reporting and Financial Analysis
Study unit 2 Ratio Analysis
Study unit 3 Investment Criteria & Valuations
Study unit 4 Dividends and Taxation
Study unit 5 Capital Structure and Money, Capital and Derivatives Markets
Study unit 6 Integrated Application of the Finance Course

The course is offered through distance education with the option of workshops in Johannesburg. Students in other parts of the country will be able to join in through Skype. There will be 3 workshops this semester. Important dates for 2020 are tabled below:

Event 1st Semester 2020 2nd Semester 2020
Registration opening date Wednesday 4th December 2019 Monday 4th May 2020
Registration closing date Friday 6th March 2020 Friday 21st August 2020
Course materials made available Monday 10th February 2020 Monday 6th July 2020
Workshop 1 Wednesday 1st April 2020 Wednesday 26th August 2020
Workshop 2 Wednesday 29th April 2020 Wednesday 30th September 2020
Workshop 3 Wednesday 27th May 2020 Wednesday 28th October 2020
Exam date Monday 1st June 2020 Monday 2nd November 2020

This course aims to develop proficiency in the following areas: financial needs analysis, analysis of investments, investment advice, legal and regulatory compliance and portfolio management. The course consists of the following study units:

Study unit Topic
Study unit 1 Introduction to the Financial Markets Environment
Study unit 2 Economics
Study unit 3 Financial Markets
Study unit 4 Financial Needs Analysis
Study unit 5 Portfolio Management Theory
Study unit 6 Securities
Study unit 7 Analysis, Evaluation and Pricing of Securities
Study unit 8 Taxation and Trading Costs
Study unit 9 Corporate Actions

The course is offered through distance education with the option of workshops in Johannesburg. Students in other parts of the country will be able to join in through Skype. There will be 3 workshops this semester. Important dates for 2020 are tabled below:

Event 1st Semester 2020 2nd Semester 2020
Registration opening date Wednesday 4th December 2019 Monday 4th May 2020
Registration closing date Friday 6th March 2020 Friday 21st August 2020
Course materials made available Monday 10th February 2020 Monday 6th July 2020
Workshop 1 Wednesday 22nd April 2020 Wednesday 9th September 2020
Workshop 2 Wednesday 20th May 2020 Wednesday 14th October 2020
Workshop 3 Wednesday 17th June 2020 Wednesday 11th November 2020
Exam date Monday 22nd June 2020 Monday 16th November 2020


Important Notice

  • Owing to the vast amounts of knowledge and application required in the frequently-changing legislative landscape, the Rules curriculum has been split into 3 parts:
    1. Legislation: originally this has been part of the Rules Part 1 course. It has now been separated into a stand-alone course and will kick off each year and focus entirely on the legislative landscape, including FMA, FAIS, FICA, POPI, FATCA, AML, etc. This course will be 7 weeks long and will culminate in an open-book exam in April.
    2. Rules Part 1: the lectures for this content will begin straight after the Legislation subjects have concluded, and will culminate in a closed book exam in June.
    3. Rules Part 2: the lectures for this content will begin in July, and will culminate in a closed book exam in November.
  • Please note that there are no overlaps in content between Legislation, Rules Part 1 and Rules Part 2. For this reason, you can write them in any order (eg. you do not need to pass Part 1 to write Part 2). However, the exams for each of these 3 courses are written once a year only (not twice a year anymore).
  • Although it is not a requirement, we highly recommend that you complete Legislation first, as this will provide the bigger picture for you and a solid foundation from which to build for Rules Part 1 and Rules Part 2.

This course focuses on the legislative landscape incliding FMA, FAIS, FICA, POPI, FATCA, AML, etc.

The course is offered through a series of lectures presented in Johannesburg. Students in other parts of the country may dial into the lectures through Skype. Lectures are not compulsory, however they do assist greatly with understanding the regulatory requirements and attendance is recommended. The study material will be made available to enrolled students. The lectures will take place as follows:

Lecture Date Topic
Lecture 1 Monday 3rd February 2020 Introduction to the Regulatory Landscape
Lecture 2 Monday 10th February 2020 Financial Sector Regulation Act
Lecture 3 Monday 17th February 2020 Introduction to Rules Part 1 - Financial Markets Act (No 19 of 2012)
Lecture 4 Monday 24th February 2020 Financial Intelligence Centre Act
Lecture 5 Monday 2nd March 2020 Financial Advisory Intermediary Services Act
Lecture 6 Monday 9th March 2020 Protection of Personal Information Act
Lecture 7 Monday 16th March 2020 Foreign Account Compliance Act

Important dates for 2020 are tabled below:

Event Date
Registration opening date Wednesday 4th December 2019
Registration closing date Friday 24th January 2020
Course materials made available Monday 27th January 2020
Exam date Monday 6th April 2020

Important Notice

  • Owing to the vast amounts of knowledge and application required in the frequently-changing legislative landscape, the Rules curriculum has been split into 3 parts:
    1. Legislation: originally this has been part of the Rules Part 1 course. It has now been separated into a stand-alone course and will kick off each year and focus entirely on the legislative landscape, including FMA, FAIS, FICA, POPI, FATCA, AML, etc. This course will be 7 weeks long and will culminate in an open-book exam in April.
    2. Rules Part 1: the lectures for this content will begin straight after the Legislation subjects have concluded, and will culminate in a closed book exam in June.
    3. Rules Part 2: the lectures for this content will begin in July, and will culminate in a closed book exam in November.
  • Please note that there are no overlaps in content between Legislation, Rules Part 1 and Rules Part 2. For this reason, you can write them in any order (eg. you do not need to pass Part 1 to write Part 2). However, the exams for each of these 3 courses are written once a year only (not twice a year anymore).
  • Although it is not a requirement, we highly recommend that you complete Legislation first, as this will provide the bigger picture for you and a solid foundation from which to build for Rules Part 1 and Rules Part 2.

The Rules Part 1 course aims to develop an in-depth understanding of the Financial Markets Act, how it relates to an exchange, and the JSE Rules and Directives (and in future those of other exchanges in South Africa). The lectures will take place as follows:

Lectures Date Topic
Lecture 1 Monday 23rd March 2020 Market Infrastructure
Lecture 2 Monday 30th March 2020 General Provisions and Admittance Requirements
Lecture 3 Monday 6th April 2020 People and Risk Management
Lecture 4 Tuesday 14th April 2020(Monday 13th is a public holiday) The ethical conduct of business
Lecture 5 Monday 20th April 2020 Client Assets (includes Segregation of Funds & Securities & Restriction on Alienation of Securities
Lecture 6 Monday 4th May 2020 Money Broking transactions, Trading in BEE Securities and Krugerrands
Lecture 7 Monday 11th May 2020 Protection afforded to Clients
Lecture 8 Monday 18th May 2020 Complaints and Disputes and Default
Lecture 9 Monday 25th May 2020 Supervision and Enforcement
Lecture 10 Monday 1st June 2020 Revision Lecture

Important dates for 2020 are tabled below:

Event Date
Registration opening date Wednesday 4th December 2019
Registration closing date Friday 6th March 2020
Course materials made available Monday 16th March 2020
Exam date Monday 8th June 2020

Important Notice

  • Owing to the vast amounts of knowledge and application required in the frequently-changing legislative landscape, the Rules curriculum has been split into 3 parts:
    1. Legislation: originally this has been part of the Rules Part 1 course. It has now been separated into a stand-alone course and will kick off each year and focus entirely on the legislative landscape, including FMA, FAIS, FICA, POPI, FATCA, AML, etc. This course will be 7 weeks long and will culminate in an open-book exam in April.
    2. Rules Part 1: the lectures for this content will begin straight after the Legislation subjects have concluded, and will culminate in a closed book exam in June.
    3. Rules Part 2: the lectures for this content will begin in July, and will culminate in a closed book exam in November.
  • Please note that there are no overlaps in content between Legislation, Rules Part 1 and Rules Part 2. For this reason, you can write them in any order (eg. you do not need to pass Part 1 to write Part 2). However, the exams for each of these 3 courses are written once a year only (not twice a year anymore).
  • Although it is not a requirement, we highly recommend that you complete Legislation first, as this will provide the bigger picture for you and a solid foundation from which to build for Rules Part 1 and Rules Part 2.

The Rules Part 2 Course follows on Rules Part 1 and deals in-depth with a variety of legislative and regulatory requirements that stockbroking firms have to comply with.

The course is offered through a series of lectures presented in Johannesburg. Students in other parts of the country may dial into the lectures through Skype. Lectures are not compulsory, however they do assist greatly with understanding the regulatory requirements and attendance is recommended. The study material will be made available to enrolled students. The lectures will take place as follows:

Lectures Date Topic
Lecture 1 Monday 13th July 2020 Trading & Stock Accounts and STT
Lecture 2 Monday 20th July 2020 Trading & Stock Accounts and STT
Lecture 3 Monday 27th July 2020 Settlement Obligations and Settlement Procedures and Rolling of Settlement
Lecture 4 Monday 3rd August 2020 Failed Trades and Securities Lending and Borrowing
Lecture 5 Tuesday 11th August 2020(Monday 10th is a public holiday) Financial Records, Reporting, Audit, Insurance and Credit Risk Management
Lecture 6 Monday 17th August 2020 Capital Adequacy - Members Financial Resources Requirements
Lecture 7 Monday 24th August 2020 Capital Adequacy
Lecture 8 Monday 31st August 2020 Financial Resources Requirements & Settlement Assurance
Lecture 9 Monday 7th September 2020 Financial Resources Requirements & Settlement Assurance - LER and Margining
Lecture 10 Monday 14th September 2020 Securities Transfer Tax & STT Acts
Lecture 11 Monday 21st September 2020 SLB
Lecture 12 Monday 28th September 2020 Corporate Actions
Lecture 13 Monday 5th October 2020 Market Abuse
Lecture 14 Monday 12th October 2020 Listings Requirements
Lecture 15 Monday 19th October 2020 Exchange Control and Dividends Tax
Lecture 16 Monday 26th October 2020 REVISION LECTURE

Important dates for 2020 are tabled below:

Event Date
Registration opening date Monday 4th May 2020
Registration closing date Friday 21st August 2020
Course materials made available Monday 6th July 2020
Exam date Monday 9th November 2020