Examinations in Paper

Licensing examinations in paper are held by SPL within the frame of authorization granted by the Capital Markets Board of Turkey ("Board") and in accordance with the principles set forth in the Licensing Communiqué.

These examinations are organized twice a year and in 12 provinces: Istanbul, Ankara, Izmir, Adana, Antalya, Bursa, Samsun, Gaziantep, Diyarbakir, Konya, Kayseri, Erzurum.

Such information as examination application principles, qualifications sought for in applicants, type of examination, sub-headings of subjects, number of questions, marks and weights of questions are announced in the internet web site of SPL.

Applications for examination are accepted via the internet thorough the SPL Application System. No graduation is required to enter the examinations in paper. The exams are held only in Turkish. There are 9 types of examinations corresponding to 9 different licenses, and each type of examination covers a different number of examination subjects. There are 23 examination subjects in total, and each examination subject is comprised of 25 questions.

Those who fail in examinations are not subject to any limitation in the number of examinations to be re-entered. However, the period between two consecutive examinations in the same examination subject must not be less than 60 days. Candidates who participate in electronic examinations may also enter the examinations in paper to be organized and held within 60 days prior or subsequent to the date of such examination.