The Pension Examination (EN)

• Advisors – dealing in 3rd pillar (additional pension saving) product distribution.

• By passing this accredited professional examination you will fulfil the professional qualification requirements pursuant to Act no 427/2011 Coll. in the scope of its executive Decree of the Czech National Bank no 215/2012 Coll.
• The examination certificate validity is 5 years.

High school graduation requirement

For the distribution of products III. pillars, it is necessary to have a high school education with a high school diploma. No exception is possible here.

• Professional qualification includes general knowledge, professional knowledge and skills. General knowledge must be documented at least by a school-leaving examination certificate – this applies to all distributors without exception, since 1 January 2013. Professional knowledge and skills are proved by a passed professional examination sat for with a Czech National Bank accredited entity.
• The maximum time of preparation for the examination is 16 hours (e-learning + trial tests)
• The list of resources for learning and preparation for the examination is available in the For Download section.

Since 5 August 2015 the test has consisted of 5 thematic areas corresponding in their content to the requirements of Decree no 215/2012 Coll., and the Letter of the Czech National Bank of 4 August 2015.

The content is divided to two basic parts, the theoretical test questions (45 in total) and two case studies with an example of calculation and related questions (10 in total, 5 per case study) with each case study.

Thematic areas of the required knowledge:

• Legislative regulations factually related to activities of persons listed in § 84 (1) of the Complementary Pension Scheme Act,
• Principles and Functioning of additional pension savings
• Investment instruments, their types and features
• Financial market principles including the theory of finance
• Investment, investment strategies and related risks

• The examination is done in writing on the pre-determined dates under supervision of the examination jury members. The time reserved for the examination is 100 minutes. The examination administration on the examination venue is assisted by managers of EFPA CR, who are there to address potential administrative issues and check the examinees´ identity or arrival (you must show your valid identity card).
• If you fail the examination you can repeat it. After passing you will receive a professional qualification certificate issued by a duly accredited institution.
• Further details of the examination progress, evaluation and certification can be found in the Rules of Examination.

Passing the exam and its evaluation

• Each test question is assigned answers A-D, of which only one is correct. There is 1 point for each correct answer, no points are deducted for a wrong answer. The exam does not contain any multiple-choice questions.
• Achieving a minimum total of 34 points (min. 75% of correct answers) is considered a successful completion of the theoretical part of the exam (part of closed questions), while in each of the thematic areas (A-E) the applicant must simultaneously achieve min. 60% correct answers.
• A successful completion of the practical part of the exam (two model situations with 2x5 questions) is considered to be at least 75% correct answers, i.e. min. 8 correct answers to a total of 10 questions in the practical part.

Test correction and examination results        

• As a rule you will receive your result in 48 hours from the examination passing at the latest, but the results are usually available already on the day of the examination

All rules for the examination passing are included in the Accredited Rules of Examination.

• The examination time limit is set to 100 minutes

• If you are interested in sitting for the examination please contact us via the e-mail lukas.beranek@efpa.cz. You will receive an individual price offer and the option of your own closed examination date.

• Examination regulations for EFPA accredited examinations (valid from 2 August 2022)
• List of recommended resources and literature for exam preparation
• Decree 215/2012 Coll.
• Act 427/2011 Coll.
• Model Answer Sheet - Pension Products Exam
• Sample Attendance list

Notice: The given wordings of legal regulations are only wordings for information. The only authentic wording of legal regulations is the wording published in the Collection of Laws or in the CNB Bulletin

Sample certificate

• SAMPLE Certificate Pension products
• SAMPLE Pension products certificate - FO without assigned registration number