KASNEB IST Examinations

Historical Note:

The Institute of Investment Professionals (IIP) was registered on 22 July 1997 under section 10 of the Societies Act (Cap.108) of the Laws of Kenya.

The main objective of the Institute is to develop a professional designation to further enhance training for capital market participants in the East African Region.

Investment and Securities Analysts examination is at technician and professional levels. The qualification is intended for specialists in financial and security analysis.

A Synopsis of the Investment and Securities Technicians (IST) Examination

The IST examination is held twice yearly in June and December. The examination is divided into two levels each containing five papers, thus making a total of ten papers. The examination serves two main purposes.

Firstly, the IST certificate provides a person with comprehensive and widely recognized qualification which enables the holder to perform the functions of an investment and securities analysis technician.

Secondly, it provides the holder with an opportunity for further progression in the professional ladder and other specialized investment and securities analysis fields.

The examination is rigorous and standards are high and therefore a candidate is advised to devote approximately the equivalent of eighteen months of full time study for each level.

A student should programme the studies in such a way that makes it possible to take and pass the two levels in a duration of between three and four years since the date of registration as a student of KASNEB.

In this way, a candidate will be able to set aside two years as a margin of safety in case of unforeseen circumstances in the preparation for the examination.

The following are the papers contained in each level of the IST examination:


  • Finance and Investments
  • Financial Institutions and Markets
  • Entrepreneurship and Communication
  • Law and Regulations Governing Financial Markets
  • Business Mathematics


  • Economics
  • Fundamentals of Information Communication Technology
  • Securities Analysis and Valuation
  • Foundations of Accounting
  • Wealth Creation and Management

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