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Following the situation in the north of the country the ISA will provide additional examination dates to the residents of the north and to those mobilized during the war – “the miluimniks”


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The ISA had decided to add another examination date, for those applying for investment advice, investment marketing and portfolio management license, following the military escalation on the Northern front as well as due to rocket attacks on northern cities, which disrupted the regular rhythm of daily life.
Those who apply for investment advice, investment marketing and portfolio management license have to pass a number of examinations prepared by the ISA. The examinations are in economics, accounting, statistics and financing, Securities Law and professional ethics; there are two additional exams – one, professional examination A (formerly analyses of securities and financial instruments), the second – professional examination B (formerly portfolio management), the second exam is only for those applying for  portfolio management license. The first four exams are basic examinations and they took place in June, however the last two examinations were planned for the second week in August.
Since the last two are – advanced examinations, they require intensive preparation, for a period of time, by the examinees.
The worsening of the security situation in the north of the country disrupted the preparation process, for some of the examinees. In some cases, the examinees reported that they spend most of the time in bomb shelters, some can not reach the colleges were they study – since those have closed their doors for the time being, and some are busing taking care of their families that got hurt during the fighting. In yet other cases, some of the potential examinees were mobilized, due to the fighting, and were unable to prepare for the exams.
Hence, the Supervision and Licensing Department of the ISA had decided to take into consideration all of the aforesaid and to fix an additional examination date for two professional exams. The date is for the residents of the North and those who were mobilized during the war, providing they present certificate of mobilization. Examinees, which are registered for the August exams and are unable to take them, for the aforesaid reasons, can apply to the ISA for postponement.
The new examination date, for professional exams, is yet to be stipulated. The ISA will announce the date on its Internet site ( and through its telephone answering service.

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