Study Materials

Sobrato Fountain Illustration

The CEPI updates all study materials on an annual basis. The study materials for the 2018 exams include a binder (supplied by the CEPI) and several reference textbooks. Candidates are responsible for ensuring they are using the current materials, so please check this page for updates on the 2018 materials list. 

The CEP Study Binder contains the syllabi, reading lists, and reference documents for all 3 exam levels. Therefore, candidates will receive one binder per calendar year (i.e. if a candidate registers for the June exam and the November exam in the same calendar year, they will not receive a binder for November). The binder also contains required readings as outlined in the syllabi. The Binder is included with tuition and is sent to the address provided during registration.

Candidates are required to purchase additional reference textbooks. Significant discounts have been negotiated for the required textbooks through NCEO (http://www.nceo.org/pages/cep.php). It is the candidate's responsibility to acquire the correct textbooks. Because the textbooks are updated frequently, CEPI recommends that candidates only buy the textbooks for the level of the exam they are going to take. Confirmation of registration will include ordering instructions. 

The exams are open book and candidates must bring the required texts to the exam.Please note that the NCEO sells both printed copies and digital versions of the text books. Only the printed versions of the text are allowed in the exam. Digital versions are NOT permitted in the exams under any circumstances. Candidates may also bring notes to the testing center as long as the notes are three-hole punched and included in the CEP Institute study binder. Any papers that are not three-hole punched and included in the binder will not be allowed at the testing session.

CEP Institute Binder (2018 Edition) - included with tuition.

Selected Issues in Equity Compensation, 14th Edition, ed. S. Rodrick. (Oakland, CA: National Center for Employee Ownership, 2017).

Wright, Alison, Baker, Alisa J., and Chernoff, Pam, The Stock Options Book, 18th Edition. (Oakland, CA: National Center for Employee Ownership, 2017).

Thomas, Kaye A., Consider Your Options, 2014 or later edition, Available from Amazon.com. (Lisle, IL: Fairmark Press, Inc.).

GPS 2018 4 in 1 Volume

Equity Alternatives: Restricted Stock, Performance Awards, Phantom Stock, SARs, and More (formerly titled Beyond Stock Options), 15th Edition, ed. S. Rodrick (Oakland, CA: National Center for Employee Ownership, 2017).

Baksa, Barbara, Accounting for Equity Compensation, 14th Edition. (Oakland, CA: National Center for Employee Ownership, 2017).

GPS 2018 4 in 1 Volume

Makridis, Takis, Advanced Topics in Accounting for Equity Compensation, 7th Edition (Oakland, CA, National Center for Employee Ownership, 2017)

Securities Sources for Equity Compensation, 2017 Edition, Certified Equity Professional Institute (Oakland, CA: National Center for Employee Ownership) - formerly named Tax and Securities Sources for Equity Compensation

GPS 2018 4 in 1 Volume 

Additional Resources

(approx 30 minutes)

This webinar provides an overview of the study materials (including the binder) and general study tips.

Course reviews and continuing education opportunities are often offered by industry organizations such as those listed below.

Although the CEP Institute makes this information available to candidates, we do not endorse educational programs. The candidate must determine whether the program is suitable for his/her needs.

Because educational offerings are so varied, consider asking the following questions when evaluating a program:

  • What educational level is the curriculum (beginning, intermediate, advanced)?
  • How long does it take to complete the curriculum?
  • How much does the program cost? Does that amount include books, tests and other fees?
  • How are the courses scheduled? How often are courses offered?
  • Is the education program offered online or is it paper-based?
  • What are the credentials of the faculty?
  • Overall, how will this program prepare me to obtain the certified equity professional designation?
  • What is the pass rate of previous program participants?


Educational Service Providers: if you have a course geared to any of the three levels of the CEP Institute program, or our continuing education requirement, please contact cepi@scu.edu to be listed on this site.

Please note that all sample exams and sample questions are developed independently by the individual educational service providers, not the CEPI. The CEPI does not release sample questions or sample exams.

Exam Preparation Course Providers

Education Service Providers

Industry Resources

CEP INSTITUTE SOCIAL MEDIA