SIDC Module 6 Licensing question: Nurul passed Module

SIDC Module 6Licensing

Nurul passed Module 6 on 10 March 2024 and Module 7 on 5 May 2025 while still a student, and has never worked in the industry. She applies for a dealing in securities CMSRL on 1 April 2026. Which is correct?

A She must resit both modules, as SCLE results lapse one year after the date of passing
B She may apply, as both results fall within two years of her later pass in May 2025
C She may apply, as SCLE results stay valid for three years from the date of passing
D She must resit Module 6, as that result lapsed two years after the date she passed it

Show the answer and explanation

Answer: D. She must resit Module 6, as that result lapsed two years after the date she passed it

Paragraph 4.05(6) of the Licensing Handbook says an examination result is valid for two years from the date of passing each module, and the results must be valid when the application is made. Module 6 was passed on 10 March 2024, so it lapsed on 10 March 2026, before her 1 April 2026 application. Module 7 (passed 5 May 2025) remains valid until 5 May 2027. The two-year period runs module by module, not from the later pass. None of the exceptions in para 4.05(7) helps her, because each needs a pass while employed by a CMSL holder or a previous licence. The three-year figure belongs to those exceptions. Source: Licensing Handbook (R19-2026) para 4.05(5)-(7), Table 3 (as at October 2026).

Common mistake

Candidates measure validity from the last module passed; each module has its own two-year clock.

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SIDC Module 6 Licensing question: Nurul passed Module

Answer: D. She must resit Module 6, as that result lapsed two years after the date she passed it

Common mistake

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SIDC Module 6 Licensing question: Nurul passed Module

Answer: D. She must resit Module 6, as that result lapsed two years after the date she passed it

Common mistake

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