Afores · SAR regime · CONSAR recognition · Exams open

CONSAR Certifications

Two exams, four functions, one independent third party recognized by CONSAR.

Certification exam

The certification consists of the exam alone. No training, course or program is a prerequisite for enrolling or for sitting it, and no training is delivered or offered on this page. The only requirements are a valid official ID and the function assigned by the institution.

The general financial provisions of Mexico's Retirement Savings Systems (SAR) require the AFOREs to certify the personnel involved in investments, risk management, compliance (contraloría normativa) and back office, and recognize independent third parties to grant that certification. RiskMathics Certificate Institute is one of them under Article 70, with its concordant Articles 122 and 140, and administers two exams: the Derivatives Certification · Afores (CONSAR) and the Structured Products Certification · Afores (CONSAR).

Each certification is an exam of 120 items in four hours, with three equivalent forms per function, delivered online on Saturdays and proctored over Zoom with official identification. The exam is assembled for the function the institution assigns — the person who decides a position is not assessed the way the person who measures it, polices it or books it is — and the item bank is audited against the regime in force. The Institute does not teach to its own exams: it builds, audits and administers them.

Enrollment is online and goes directly to the exam, individually or as a team through a CSV file, and issues an individual registration number in the format RCI-YYYY-NNNN. The personal Zoom link arrives 48 hours before and cannot be forwarded. The exams are administered in Spanish. This page brings together both exam sheets, the register of certificate holders and the verification channel.

CONSAR

Certificaciones

Derivatives Certification · Afores (CONSAR)

It attests the competence in derivatives of AFORE personnel under the SAR regime: those who decide and execute positions, those who measure, limit and report exposure, those who police adherence to the regime, and those who confirm, settle, allocate and book the trades. The Institute grants it as an independent third party recognized under Article 70 of the general financial provisions of the SAR. It is the active certification with the longest track record in the RiskMathics group, which has certified AFORE derivatives personnel since 2012. The passing score in force is to be confirmed and may be requested at growth@riskmathics.com.

Roles

Investments and Trading
Risk Management
Compliance (Contraloría Normativa)
Back Office

Duration120 items in 4 hours · three equivalent forms (A, B and C) per function

FormatOnline, Saturdays at 09:00 Mexico City time, proctored over Zoom with official ID; the individual link arrives 48 hours before

DatesSaturdays · dates open through December 2027 · 40 seats per date · enrollment closes 3 days before · weekday sittings by appointment

Exam feeMXN 18,000 + VAT · USD 1,000 + VAT outside Mexico

Validity3 years

Structured Products Certification · Afores (CONSAR)

It attests that the person who decides, measures, controls or books investments in CKD, CERPI, FIBRA and FIBRA-E commands the anatomy of the vehicle and its distribution waterfall, the legal framework and the governance of the trust, the SAR investment regime with its limits and how they are computed, and the analysis of the manager and of valuation. The Institute administers the exam as an independent third party recognized by CONSAR under Article 70 of the general financial provisions of the SAR; the passing score is 600 out of 1,000.

Roles

Investments
Risk Management
Compliance (Contraloría Normativa)
Back Office

Duration120 multiple-choice items in 4 hours · three equivalent forms (A, B and C)

FormatOnline, proctored over Zoom with official ID; the individual link arrives 48 hours before

DatesSaturdays at 09:00 Mexico City time · calendar open through December 2027 · 40 seats per date

Exam feeMXN 20,000 + VAT · USD 1,000 + VAT outside Mexico

Validity3 years

CONSAR

Current certificate holders

People holding a current CONSAR certification issued by the Institute, grouped by the type of institution they work for: AFOREs, insurers, and investment and infrastructure funds. Each entry shows the certification and the function in which the exam was taken.

Only name, certification and function are published; the list is updated daily from exam results.

AFOREs

Name	Certification	Function
Cargando…

Insurers

Name	Certification	Function
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Investment and infrastructure funds

Name	Certification	Function
Cargando…

Other institutions

Name	Certification	Function
Cargando…

Each certification is valid for three years from the exam passed. The exact expiry date of a given person is confirmed in writing to the requesting institution (see Verification).

CONSAR

Verifying a certification

Any institution may confirm a certification by searching the register by name. For a written confirmation — for instance, for a file submitted to CONSAR — write to growth@riskmathics.com stating the full name, the certification and, if available, the registration number in the format RCI-YYYY-NNNN. The Institute replies with what its records show.

Request written verification

Contact

growth@riskmathics.com · +52 55 55 36 35 97 ext. 2023 · Mexico City. This channel handles enrollment of entire teams (CSV file and a single payment, with the team spread across dates), weekday sittings by appointment, questions about the enrollment process and verification requests. growth@riskmathics.com