DFC FAQ — Common Questions (Futures, Options, Swaps)

What is the official DFC exam format and structure?

CSI publishes DFC exam structure on the official Exam & Credits page:

• Exam format: Proctored (remote or in-person at a test centre)
• Exam duration: 2 hours
• Question format: Multiple-choice
• Questions per exam: 65
• Passing grade: 60%
• Attempts allowed: 3
• Assignments: None

Source: https://www.csi.ca/en/learning/courses/dfc/exam-credits

What are the official topic weightings?

From CSI’s official weighting table:

• An Overview of Derivatives — 3%
• Futures Contracts — 40%
• Exchange-Traded Options — 42%
• Swaps — 8%
• How Investment Funds and Structured Products Use Derivatives — 5%
• Operational Considerations — 2%

Source: https://www.csi.ca/en/learning/courses/dfc/exam-credits

What should I focus on first?

Start with the heavy-weight topics:

1. Futures (mechanics, pricing intuition, hedging vs speculation)
2. Exchange-traded options (terminology, payoffs, strategy intent, pricing factors/delta)

Then add swaps and funds/structured products. Treat operational topics as vocabulary + common-sense controls.

Do I need the official CSI materials?

Yes. Use this hub as a study map + practice layer, but rely on CSI’s official materials for the canonical reading.

Where do I find official policies (fees, timing, retakes)?

Use the official CSI links in Resources. Policies can change, so we avoid hard-coding beyond the official exam structure and weightings.