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Investor Exam

NOTE: The information on this page refers to the Investor Certificate on 2020-2021. More information about the exam on 2021-2022 will follow on Spring 2022.
Are you enjoying the B&R Academies so far? Make sure everyone knows that you are knowledgeable about investing and participate in the Investor Exam. Together with CFA and CAIA, B&R Beurs organises the B&R Beurs Investor Exam to test your knowledge. Here you have the opportunity to test yourself and improve your CV with the Investor Certificate.
Last year, over 50% of the attendants passed the exam! Are you becoming one of the elite B&R members with an Investor Certificate? B&R Beurs, CAIA and CFA encourage you to challenge yourself and apply for the Investor Exam! This exam is a closed book exam and only open for B&R Beurs members and it is free
The exam is a multiple-choice exam based on the Academy Articles and slides. The learning goals will be translated into questions and cases that you will have to complete within two hours. Don’t worry if you didn’t attend all the academies. You can watch them back in the Online Academy.
In order to pass the exam, you will have to specialize in Academy Tracks according to your preferences. The minimum requirement is to take at least two tracks on level 3, four tracks on level 2 and the remainder on level 1. Hence, you will have at least all tracks on level 1, 4 tracks on level 2 and 2 tracks on level 3. Within a track, every academy represents a level. Hence, if you choose to do Fundamental Analysis on level 2, you will prepare the first 2 academies. Each level of each track will have 6 multiple-choice questions.
The exam will take place on the 6th of May 2021 starting from 17.00h until 19.00h CET. The exam will be conducted on Synap and ProctorExam, a systems check email will be sent out two weeks prior to the exam date. 
Registrations will open on the 15th of February 2021 and close on the 23rd of April
You can take the exam online from home under a proctored environment. We employ the services of Synap and ProctorExam to conduct the exam. Once registrations close, you will receive an email for a systems check and also the instruction to create an account with Synap. 
Study Material
The study material for the Investor Exam are the slides and articles of each Academy. The exam questions will be completely based on the articles and slides (including those from companies). You can already access them through the Academy Mail by scrolling to the bottom (subscribe here). The Academy Mail is sent out each Tuesday. You can also access all the study material through the Online Academy.

If you were unable to attend one of the academies, they will be uploaded here for you to rewatch! Please note that the recording for Optiver (Derivatives III) is not available upon their request. 

A practice exam will be made available three weeks before the actual Investor Exam. 
If you have any other question you can send an email to