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If you wish to broker financial investments on a commercial basis in return for a fee from the client, you must provide proof of your expertise in order to obtain a license. You can do this by taking the Chamber of Industry and Commerce (IHK) examination.
Depending on the product category, the examination is divided into three areas:
The exam consists of a written and a practical part. They must be taken one after the other. In the written part of the exam, you must demonstrate the necessary legal and technical knowledge, for example with regard to consumer rights and technical terms. In the practical part, you must carry out a simulated customer consultation.
You do not have to meet any formal requirements to register for the exam, but you should prepare intensively for the content in order to take it successfully.
The content of the examination for financial investment brokers corresponds to the examination for fee-based financial investment advisors.
If you have completed vocational training or have a degree in banking and finance, this may be recognized instead of the examination.
You can only take part in an examination after prior registration.
Costs are incurred. The exact amount can be found in the IHK fee schedule.
You will normally receive the certificate within a few days of passing the exam.