Paper 16: Sponsors (Representatives)

What this paper covers

This is an Additional Competence Requirements Paper. Only people doing specific business lines take it — it is not required of every licensee.

Questions	40 multiple-choice
Time	60 minutes
Pass mark	70%
Delivery	Computer-based (CBE), in English or Traditional Chinese

Syllabus areas

• Listing application document preparation
• Exchange and SFC vetting process
• Listing Committee hearings and approval
• Financial due diligence and accountant's work
• Legal due diligence and legal opinions
• Customer, supplier verification and site visits
• Due diligence working papers and responsibility allocation
• Business, financial and risk disclosure

A summary of the main areas. Chapter structure and question weighting follow the latest HKSI Institute study material.

Who needs this paper?

This is an additional competence requirement for specific business lines. Type 6 (corporate finance) staff doing sponsor work take Paper 15 (principals) or Paper 16 (representatives); those advising on Takeovers Code and share buy-back matters also take Paper 17.

Full RA mapping and exemption rules: the complete SFC LE guide.

How to study for it

This paper is an extra requirement for a specific business line and the questions stay close to real cases. Work from the case chapters of the official study material, make sure you understand each party's role and the deadlines involved, then test your judgement with practice questions.

At 40 questions in 60 minutes you have roughly 90 seconds per question — practise under timed conditions.