Lyle,

CC. In Canada we have various exams, as you've alluded to. The key exams for financial sales are insurance and the Canadian Securities Course (mutual funds). The mutual funds course, I could probably teach. And yes, most planners use low risk stuff..long term growth funds. The guys that can lose 100k in a day are usually active traders, and usually deal in commodities. With a stock, if it crashes, you can hold onto it hoping it'll bounce back. With commodities, which are dealt through futures contracts, if you hold a buy (long) position, and the price drops, you must put up the money at the end of the day. It's called marking to market.... where gains and losses are settled every day in a game of Wall Street over-under.