HKSI Exam Pass Rates: Latest Official Results (September 2026 Update)
Looking for the latest HKSI exam pass rates? The table below brings together the official Hong Kong results for all 17 Licensing Examination papers, with a direct link to each paper on the HKSI Institute website.
We checked the figures on 14 September 2026. Most papers currently show July 2026 as their latest published month; Papers 4 and 10 show June 2026. The reporting month is listed beside every figure, so you can see exactly which result you are comparing.
Latest official HKSI pass rates by paper
Open the official result for any paper to check HKSI’s live figures. Each link opens the matching paper in a new tab.
Source: HKSI Institute, Pass Rate for the LE in Hong Kong . HKSI displays a zero rate as “.00%” in some records; this table writes the same value as “0.00%”, including Paper 10 in June 2026. No missing month is converted to zero.
Open each paper’s monthly results
The history below reproduces the months shown by HKSI at the time of checking. The displayed average is HKSI’s figure for that paper’s displayed window; windows differ between papers.
Paper 1: Fundamentals of Securities and Futures Regulation — Aug 2025 to Jul 2026
HKSI’s displayed average: 51.45%. Open official Paper 1 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 50.83% |
| Sep 2025 | 56.19% |
| Oct 2025 | 53.54% |
| Nov 2025 | 61.84% |
| Dec 2025 | 54.17% |
| Jan 2026 | 52.06% |
| Feb 2026 | 49.96% |
| Mar 2026 | 47.40% |
| Apr 2026 | 48.57% |
| May 2026 | 48.58% |
| Jun 2026 | 50.00% |
| Jul 2026 | 44.29% |
Paper 2: Regulation of Securities — Aug 2025 to Jul 2026
HKSI’s displayed average: 66.40%. Open official Paper 2 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 59.49% |
| Sep 2025 | 71.15% |
| Oct 2025 | 68.40% |
| Nov 2025 | 75.00% |
| Dec 2025 | 66.67% |
| Jan 2026 | 69.60% |
| Feb 2026 | 71.90% |
| Mar 2026 | 66.23% |
| Apr 2026 | 63.68% |
| May 2026 | 59.20% |
| Jun 2026 | 63.81% |
| Jul 2026 | 61.72% |
Paper 3: Regulation of Derivatives — Aug 2025 to Jul 2026
HKSI’s displayed average: 63.57%. Open official Paper 3 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 58.33% |
| Sep 2025 | 78.95% |
| Oct 2025 | 73.68% |
| Nov 2025 | 0.00% |
| Dec 2025 | 55.56% |
| Jan 2026 | 46.15% |
| Feb 2026 | 75.00% |
| Mar 2026 | 86.36% |
| Apr 2026 | 88.46% |
| May 2026 | 70.00% |
| Jun 2026 | 61.54% |
| Jul 2026 | 68.75% |
Paper 4: Regulation of Credit Rating Services — Sep 2025 to Jun 2026
HKSI’s displayed average: 75.00%. Open official Paper 4 results
| Month | Published pass rate |
|---|---|
| Sep 2025 | 50.00% |
| Dec 2025 | 0.00% |
| Jan 2026 | 100.00% |
| Feb 2026 | 100.00% |
| Mar 2026 | 100.00% |
| Jun 2026 | 100.00% |
Paper 5: Regulation of Corporate Finance — Aug 2025 to Jul 2026
HKSI’s displayed average: 56.09%. Open official Paper 5 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 52.94% |
| Sep 2025 | 47.37% |
| Oct 2025 | 78.57% |
| Nov 2025 | 66.67% |
| Dec 2025 | 60.87% |
| Jan 2026 | 47.06% |
| Feb 2026 | 68.18% |
| Mar 2026 | 61.54% |
| Apr 2026 | 40.54% |
| May 2026 | 54.17% |
| Jun 2026 | 45.16% |
| Jul 2026 | 50.00% |
Paper 6: Regulation of Asset Management — Aug 2025 to Jul 2026
HKSI’s displayed average: 60.63%. Open official Paper 6 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 58.96% |
| Sep 2025 | 66.84% |
| Oct 2025 | 54.19% |
| Nov 2025 | 80.77% |
| Dec 2025 | 62.60% |
| Jan 2026 | 58.14% |
| Feb 2026 | 57.97% |
| Mar 2026 | 60.89% |
| Apr 2026 | 57.39% |
| May 2026 | 50.00% |
| Jun 2026 | 58.06% |
| Jul 2026 | 61.75% |
Paper 7: Financial Markets — Aug 2025 to Jul 2026
HKSI’s displayed average: 67.60%. Open official Paper 7 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 63.92% |
| Sep 2025 | 62.41% |
| Oct 2025 | 67.38% |
| Nov 2025 | 87.50% |
| Dec 2025 | 73.38% |
| Jan 2026 | 64.90% |
| Feb 2026 | 64.04% |
| Mar 2026 | 65.00% |
| Apr 2026 | 70.32% |
| May 2026 | 61.64% |
| Jun 2026 | 68.58% |
| Jul 2026 | 62.14% |
Paper 8: Securities — Aug 2025 to Jul 2026
HKSI’s displayed average: 66.18%. Open official Paper 8 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 64.93% |
| Sep 2025 | 67.44% |
| Oct 2025 | 63.50% |
| Nov 2025 | 88.89% |
| Dec 2025 | 64.39% |
| Jan 2026 | 65.81% |
| Feb 2026 | 67.01% |
| Mar 2026 | 55.56% |
| Apr 2026 | 68.50% |
| May 2026 | 60.45% |
| Jun 2026 | 62.20% |
| Jul 2026 | 65.45% |
Paper 9: Derivatives — Nov 2024 to Jul 2026
HKSI’s displayed average: 55.88%. Open official Paper 9 results
| Month | Published pass rate |
|---|---|
| Nov 2024 | 60.00% |
| Aug 2025 | 55.56% |
| Sep 2025 | 35.29% |
| Oct 2025 | 73.33% |
| Dec 2025 | 58.33% |
| Jan 2026 | 54.55% |
| Feb 2026 | 54.55% |
| Mar 2026 | 28.57% |
| Apr 2026 | 72.73% |
| May 2026 | 66.67% |
| Jun 2026 | 46.67% |
| Jul 2026 | 64.29% |
Paper 10: Credit Rating Services — Sep 2025 to Jun 2026
HKSI’s displayed average: 60.00%. Open official Paper 10 results
| Month | Published pass rate |
|---|---|
| Sep 2025 | 100.00% |
| Dec 2025 | 100.00% |
| Mar 2026 | 0.00% |
| Apr 2026 | 100.00% |
| Jun 2026 | 0.00% |
Paper 11: Corporate Finance — Nov 2024 to Jul 2026
HKSI’s displayed average: 69.01%. Open official Paper 11 results
| Month | Published pass rate |
|---|---|
| Nov 2024 | 100.00% |
| Aug 2025 | 0.00% |
| Sep 2025 | 100.00% |
| Oct 2025 | 83.33% |
| Dec 2025 | 70.00% |
| Jan 2026 | 80.00% |
| Feb 2026 | 66.67% |
| Mar 2026 | 50.00% |
| Apr 2026 | 71.43% |
| May 2026 | 66.67% |
| Jun 2026 | 100.00% |
| Jul 2026 | 40.00% |
Paper 12: Asset Management — Aug 2025 to Jul 2026
HKSI’s displayed average: 75.94%. Open official Paper 12 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 81.82% |
| Sep 2025 | 71.43% |
| Oct 2025 | 64.52% |
| Nov 2025 | 100.00% |
| Dec 2025 | 95.00% |
| Jan 2026 | 87.10% |
| Feb 2026 | 69.44% |
| Mar 2026 | 52.94% |
| Apr 2026 | 72.97% |
| May 2026 | 72.22% |
| Jun 2026 | 75.56% |
| Jul 2026 | 68.29% |
Paper 15: Sponsors (Principals) — Nov 2024 to Jul 2026
HKSI’s displayed average: 79.98%. Open official Paper 15 results
| Month | Published pass rate |
|---|---|
| Nov 2024 | 71.43% |
| Sep 2025 | 100.00% |
| Jan 2026 | 100.00% |
| Feb 2026 | 100.00% |
| Mar 2026 | 68.42% |
| Apr 2026 | 57.14% |
| May 2026 | 100.00% |
| Jul 2026 | 42.86% |
Paper 16: Sponsors (Representatives) — Aug 2025 to Jul 2026
HKSI’s displayed average: 66.73%. Open official Paper 16 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 65.52% |
| Sep 2025 | 78.83% |
| Oct 2025 | 80.16% |
| Nov 2025 | 77.22% |
| Dec 2025 | 67.28% |
| Jan 2026 | 72.20% |
| Feb 2026 | 64.39% |
| Mar 2026 | 56.59% |
| Apr 2026 | 63.10% |
| May 2026 | 60.12% |
| Jun 2026 | 61.29% |
| Jul 2026 | 54.11% |
Paper 17: Regulation of Takeovers and Share Buy-backs — Aug 2025 to Jul 2026
HKSI’s displayed average: 64.52%. Open official Paper 17 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 55.00% |
| Sep 2025 | 85.71% |
| Oct 2025 | 51.28% |
| Nov 2025 | 80.00% |
| Dec 2025 | 46.67% |
| Jan 2026 | 60.00% |
| Feb 2026 | 59.38% |
| Mar 2026 | 76.92% |
| Apr 2026 | 60.87% |
| May 2026 | 72.00% |
| Jun 2026 | 67.86% |
| Jul 2026 | 58.49% |
Paper 18: Regulation of Providing Depositary Services — Oct 2024 to Jul 2026
HKSI’s displayed average: 68.33%. Open official Paper 18 results
| Month | Published pass rate |
|---|---|
| Oct 2024 | 50.00% |
| Nov 2024 | 100.00% |
| Sep 2025 | 100.00% |
| Dec 2025 | 0.00% |
| Jan 2026 | 100.00% |
| Mar 2026 | 66.67% |
| Apr 2026 | 66.67% |
| May 2026 | 50.00% |
| Jun 2026 | 50.00% |
| Jul 2026 | 100.00% |
Paper 19: Depositary Services for Collective Investment Schemes — Aug 2025 to Jul 2026
HKSI’s displayed average: 55.56%. Open official Paper 19 results
| Month | Published pass rate |
|---|---|
| Aug 2025 | 100.00% |
| Oct 2025 | 100.00% |
| Dec 2025 | 0.00% |
| Jan 2026 | 0.00% |
| Feb 2026 | 100.00% |
| Mar 2026 | 100.00% |
| May 2026 | 0.00% |
| Jun 2026 | 0.00% |
| Jul 2026 | 100.00% |
Pass mark and pass rate: what is the difference?
The pass mark is the score you need to achieve. HKSI sets it at 70% for every LE paper. Papers 1 and 7 have 60 questions, so 42 correct answers reach the pass mark. Every other current LE paper has 40 questions, so 28 correct answers reach it.
The published pass rate describes past examination results. It does not change the score you need. A low monthly pass rate does not mean the pass mark has increased, and a high rate does not lower it.
Watch the timing when choosing a practice test: Papers 1 and 7 allow 90 minutes for 60 questions. Paper 11 allows 90 minutes for 40 questions. The other current papers allow 60 minutes for 40 questions.
What do the official averages mean?
HKSI says that when a paper has more than one examination session in a month, the monthly figure is the average of the pass rates for those sessions. The published description does not establish a pooled, candidate-weighted calculation. A session pass rate and a percentage calculated from all candidates across several sessions are not necessarily the same thing.
The expandable histories also show the average displayed by HKSI for each paper. We have preserved that figure instead of recalculating it. Read it alongside the dates shown: the displayed periods differ between papers, and an average for one window is not directly comparable with an average for another window.
The figures cover the LE in Hong Kong. They do not establish the results for examinations held in other locations. They also do not give an individual candidate’s probability of passing.
What can a 0% or 100% result tell you?
A 0% or 100% month describes the reported result for that month. It cannot establish that a paper is impossible or easy. Candidate numbers and the mix of candidates are not supplied alongside these results.
A small group can produce a very different percentage from a large group, but we do not know the group sizes here. Avoid inventing an explanation for a particular month. Use the history for context and your own fresh practice results to identify what you need to revise.
Which HKSI papers are included?
The current LE paper list runs from Papers 1 to 12, then Papers 15 to 19. HKSI explicitly states that the LE does not comprise Papers 13 and 14. This article makes no assumption about future papers.
Papers 1–6 and 18 are regulatory papers. Papers 7–12 and 19 are practical papers. Papers 15–17 address additional competence requirements for sponsor and takeover-related work. The table links each paper to its own revision guide and to the correct official results page.
How to use the figures in your preparation
First confirm which papers you need for your role and the applicable competence requirements. Choose your examination route for that reason, rather than because a different paper has a higher pass rate.
Next, compare your knowledge with the syllabus. Work through a fresh set of questions under the correct time limit, then review every wrong answer and every answer you guessed. Keep a short error log: the topic, the mistake, the correct reasoning and a date to try a different question on the same idea.
If your practice scores depend on recognising familiar questions, use a fresh set before drawing conclusions. Aim to explain why an answer works and why the alternatives do not. A monthly pass-rate statistic cannot do that diagnostic work for you.
Before the examination, check the official study-guide version and any HKSI notices relevant to your sitting. This matters especially for Paper 2: version 2.8.1 applies through 25 October 2026 and version 2.9 applies from 26 October 2026.
Questions candidates ask
Are these September 2026 examination results?
No. September 2026 is the update date of this article. When checked on 14 September, the latest published results were July 2026 for most papers and June 2026 for Papers 4 and 10.
What score do I need to pass an HKSI LE paper?
The pass mark is 70%: 42 out of 60 questions for Papers 1 and 7, and 28 out of 40 for every other current LE paper. The official pass rate is a separate historical statistic.
Does a 100% pass rate mean everyone will pass the next sitting?
No. It describes a past result. The future candidate group and its preparation may differ, and the published table does not provide candidate counts or a personal prediction.
Why do Papers 4 and 10 have an earlier latest month?
Their official result pages currently end at June 2026. We show that month exactly as published, rather than assigning those figures to July or September. Check the paper’s official link for subsequent updates.
Why does Paper 10 show 0.00% for June 2026?
HKSI displays that result as “.00%”. We add the leading zero for readability, without changing its value. We do not turn absent months into zero results.
