The registration to the Financial Broker’s exam

Please be advised that the Investment advisor’s (IA) examination of the Baltic Financial Advisors Association (BFAA) meets the requirements of the Law on Markets in Financial Instruments, secondary legislation and guidelines issued by the ESMA. The persons who successfully pass this examination will be recognized as possessing the required qualification of the financial broker.  Exam is taken in authorised testing premise; and there are 14 places. Exam can be either in English or in Lithuanian and is computer-based.

Currently you can register for Financial Broker’s qualification examination on the 5th of December, 2023 9:00 am. Exam takes place in CodeAcademy (Antakalnio str. 17, Vilnius; Park of Sapiegai; entrance via courtyard of building #3) computer room.

The exam place and time might change. BFAA will specify the exact exam date, time and place when examination date comes near. The exam is conducted in accordance with preventive measures of COVID-19.

Documents to be submitted

Candidates for the examination shall e-mail the following documents to

  • An application form which template is available here.
  • A document confirming payment of the examination fee.

A candidate’s account in will be created only for those applicants who appropriately submit all specified documents.

Withdrawal policy

You need to prepare for the examination. If you see that you don’t have enough time to prepare, please notify us ( You have the right to postpone once the exam to the nearest next date. The term of notice – up to 15 days before the beginning of the examination. If you have sick leave or are not able to reach exam due to lockdown rules, required isolation, please inform us, and you’ll be register to the next examination.

The examination will take place if at least five participants register for the specified date. If the examination is cancelled, we will notify you no later than 7 days before the beginning of the examination. In that case, you will be able to choose another date for the examination.

What is the examination fee?

The price of the package of preparing for and taking the examination consisting of learning material (only Lithuanian), mock questions and taking of one examination is EUR 500. The fee for retaking the examination is EUR 175.

When you register for the examination, your account on the BFAA’s Testing Portal ( will be active for one year. After one year, you will need to re-register for the exam and pay the full price for the package for preparing for the examination.

Where to pay?

The fee shall be paid to BFAA Academy Lithuanian account:

NameSIA BFAA Academy
Corporate code40203378687
VAT payer’s IDLV40203378687
AddressDoma laukums 8A, Riga LV-1050, Latvia
Swedbank ASKonstitucijos pr. 20A, LT-03502 Vilnius, Lithuania
Payment purposeSpecify your forename and surname

The lists of persons who hold financial broker’s certification:

  • Persons who have passed the BFAA’s Investment Advisor exam (the list).
  • Persons who hold a certificate issued by other institutions and whose qualification was recognized to be appropriate for engaging in the financial broker’s operations in Lithuania (the list).
  • Persons who had Financial broker licences, which were issued by Bank of Lithuania or Lithuanian Securities Commission, on 2018-06-14 (the list).

Information on BFAA investment advisor exams in 2017–2021 can be found here.