Which subject in the exam is more complicated depends on the individual, but based on feedback from those who have taken the exam, subject two is a bit more complicated.

The differences between the two subjects are as follows:

1. Fund Practitioner Subject 2 (Basic Knowledge of Securities Investment Funds) is a bit more logical and has more calculation questions. Emphasis on practical operations and computational and analytical abilities. The content of the examination is close to the public offering practitioners.

It mainly focuses on the theoretical knowledge of securities investment funds. There are many calculation and analysis questions in the basic fund knowledge examination, involving fund fees, fund investment, bonds, stocks, investment theory, and charts.

2. Fund Practicing Subject Three (Basic Knowledge of Private Equity Investment Funds) is a little succinct, with more legal regulations and fewer professional terms and concepts, making it easy to understand. The exam content is close to the private equity practitioners. It mainly focuses on the concept, classification, participating entities, fundraising and establishment, investment, post-investment management, project departure, internal management, administrative supervision, industry self-discipline management and related laws and regulations of private equity investment funds.