SwedSec AB -
Assuring Financial Advice with Online Testing and Certification

Ensuring knowledge and credibility for an entire profession is a major task, especially if the knowledge area that is to be assured is complex and constantly being updated. SwedSec AB chose online testing and professional test consultants for its award winning licensing of personnel in theSwedish securities market.

SwedSec AB –The mandatory stockbroker license for Swedish financial markets

SwedSec AB is responsible for the mandatory licensing of personnel in the Swedish securities market. The licensing program started in April 2001 and involves all new employees proving their financial skills through a knowledge test. The license is renewed every year to ensure that all advisors update their knowledge regarding new regulations and alternatives in the market. Nearly all players in the Swedish financial markets, 144 companies, have associated themselves to SwedSec’s licensing regulations. Today, over 5,500 people have SwedSec’s license.

The challenge – licensing an entire profession

SwedSec’s task to license an entire profession places high demands on test quality, accessibility and continuous updating of the licensing. Security and high quality are vital for the confidence in the licensing program, from both companies and customers, as well as from test takers whose future career can be affected by the test results. Since regulations and legislation in the finance industry are constantly updated it is necessary to also constantly update the tests.

The solution –online testing and administration

SwedSec chose to deliver its tests and handle the administration with online solutions from Enlight, in order to reach the necessary security, service level and efficiency. To develop the tests, SwedSec has cooperated with Enlight’s professional test consultants who are equipped with tools for professional test development. The test consultants have assisted in the entire process, from design and development to ongoing administration, validation and maintenance.

Test quality is critical for us. The credibility of the whole licensing program rests on the tests measuring knowledge correctly. This is one of the reasons that we chose to cooperate with professional test consultants, " says Margareta Carlsten, CEO of SwedSec

The Result – Award winning knowledge assurance and credibility

SwedSec's launch of the Stockbroker driving license in 2001 was a major success and today, licensing is a natural part of the day-to-day work of personnel involved in the Swedish financial markets.

By delivering and administering online tests we reach the levels of security, accessibility and efficiency we need,” says Margareta Carlsten.

SwedSec’s licensing program strengthens knowledge assurance, efficient competence development and credibility in the Swedish financial industry. In 2003, SwedSec was presented with Aktiefrämjandet’s Excellence Award.