Units

Ensure you get the most out of your training. View dates for when syllabus content will change for each unit, so you can schedule your training accordingly.

Unit 1 - FSA Financial Regulation

This unit considers the regulatory environment in the UK and the background that led to the creation of the Financial Services Authority (FSA) as the sole regulator. The role of the FSA is considered as well as the content of the FSA Handbook. The material also looks at the detail of The Financial Services and Markets Act 2000 (FSMA), defining regulated activities and specified investments, the authorisation process for firms and the approval process for individuals performing controlled functions.

Thereafter, we consider other sources of regulation including measures designed to prevent financial crime as well as considering a number of European Union (EU) Directives, with special emphasis on the Markets in Financial Instruments Directive (MIFID).

The next part of the unit is extremely important since it considers the FSA’s Conduct of Business Rules (COBS) and Client Assets Rules. MiFID has had a dramatic impact on these rules and this underlines the fact that regulation is increasingly being determined at the European level.

Unit 6 – Principles of Financial Regulation

This unit considers the regulatory environment in the UK and the background that led to the creation of the Financial Services Authority (FSA) as the sole regulator. The role of the FSA is considered as well as the content of the FSA Handbook. The material also looks at the detail of The Financial Services and Markets Act 2000 (FSMA), defining regulated activities and specified investments, the authorisation process for firms and the approval process for individuals performing controlled functions.

Thereafter, we consider other sources of regulation including measures designed to prevent financial crime as well as considering a number of European Union (EU) Directives, with special emphasis on the Markets in Financial Instruments Directive (MIFID).

The next part of the unit is extremely important since it considers the FSA’s Conduct of Business Rules (COBS) and Client Assets Rules. MiFID has had a dramatic impact on these rules and this underlines the fact that regulation is increasingly being determined at the European level.

Unit 2 - Securities

This unit considers the different securities traded in the financial markets including shares, warrants, bonds (with special emphasis on UK Government bonds) and currencies.

We then consider how securities are brought to market and discuss the role of stock exchanges. Initial Public Offerings as well as further issuances (including rights issues and bonus issues) are described. The rules around stakebuilding are also examined. The trading of securities is then described before we examine how securities trades are cleared and settled at securities depositories.

Attention is then given to regulations across a number of important markets with special emphasis on the rules relating to disclosure of interests in shares. Accounting is then addressed with an examination of the main financial statements that companies must produce before we move on to the analysis of accounts. Finally we examine investment management by considering the risk and reward associated with investing in various asset classes.

Unit 3 - Derivatives

We begin with an introduction to futures and options and discuss much of the terminology that it is important to understand. We also consider the cash products that underlie derivative contracts. We then move on to discuss derivative exchanges and consider the trading platforms and clearing mechanisms used.

We analyse how futures and options are priced and examine a number of arbitrage trades. With particular emphasis on Euronext.liffe, we discuss trade reporting requirements, order types and the need for trade registration.

Over the counter (OTC) derivatives offer much more flexibility than exchange traded derivatives. We discuss a wide range of OTC products including forwards, swaps, structured products and options.

We then examine the principles of clearing, margining and settlement, with the emphasis on LCH.Clearnet. We will also consider how market participants employ a variety of options strategies when hedging or speculating. Finally, we look at how regulations are applied in the main derivatives markets.

Unit 5 – Investment Management

We will cover the fundamental approaches and methods used within the investment management industry. The course gives a solid grounding in financial maths, covering statistical techniques such as calculating standard deviation and variance, as well as approaches for discounting cash flows to obtain present values. The basic principles of financial maths are carried over into the asset valuation section as the characteristics of bonds, equities and derivatives are covered, alongside various valuation methodologies.

In order to understand businesses the fundamentals of accounting are covered along with an introduction to financial statement analysis. The use of resources within the economy is also examined with sections on both micro and macro economics. The jigsaw is completed with a look at portfolio management and techniques for constructing portfolios, as well as methods for evaluating and measuring investment performance.

Introduction to Financial Maths course

Attend this new one day course to prepare for the financial maths you will encounter on your Certificate in Investment Management training. Tailored to meet the needs to CISI Certificate in Investment Management and IMC delegates the Introduction to Financial Maths is ideal if you want to brush up your maths skills or simply want to recap, so that you get the most out of your training. Step by step our tutors will cover the topics listed and provide guided question practice and support:

• Location and Dispersion (means, medians and mode)
• Financial Maths (basic discounting and compounding, annuities, perpetuities, mortgage repayments)
• Statistical Measures (standard deviation, normal distribution, covariance)
• Share Valuation and Return
• Bond Valuation and Return Measures (include duration calculations and riding yield curve calculation)
• Return Measures (HPY, time weighted, money weighted)
• NPV and IRR

Unit 7 - Financial Derivatives

This unit begins with an introduction to futures and options. We consider derivative exchanges and the trading platforms and clearing mechanisms used. We analyse how futures and options are priced and examine a number of arbitrage trades, as well as trade reporting requirements, order types and the need for trade registration on Euronext.liffe.

Over the counter (OTC) derivatives offer much more flexibility than exchange traded derivatives. We discuss a wide range of OTC products including forwards, swaps, structured products and options.

We then examine the principles of clearing, margining and settlement, with the emphasis on LCH.Clearnet. We will also consider how market participants employ a variety of options strategies when hedging or speculating. Finally, we look at how regulations are applied in the main derivatives markets.

Unit 8 - Investment & Risk

This unit is aimed at employees who advise and/or deal on behalf of retail clients.

We start by discussing the macro-economic factors that impact on people’s investment needs. We then discuss a wide range of asset classes. Whilst many of these (such as equity and bonds) are covered in the Securities unit, students require an understanding of National Savings and Investments products, collective investment schemes, tax wrappers such as ISA's, property and the products offered by life assurance companies.

Socially responsible investment is considered briefly before we then discuss aspects of investment risk and reward. This leads to an examination of the tax regime in the UK with attention given to income tax, capital gains tax, inheritance tax and corporation tax. The unit is completed by discussing the process of providing financial advice and techniques used when managing and advising on investments.

The syllabus for the Investment & Risk exam has significant overlap with Unit 2 Securities, particularly in the sections on  bonds and equities. We would recommend that delegates requiring both courses consider sitting the Unit 2 course first to provide the basic knowledge of  these asset classes. Please be aware that this Unit 2  course content will be also repeated in the Investment and Risk course. 

Unit 9 -Commodity Derivatives

We begin with an introduction to futures and options and discuss much of the terminology that it is important to understand. We also take a look at underlying commodity markets before considering other markets such as debt, equity and foreign exchange. We then move on to discuss derivative exchanges and consider the trading platforms and clearing mechanisms used.

We analyse how futures and options are priced and examine a number of arbitrage trades. With particular emphasis on UK exchanges, we discuss trade reporting requirements, order types and the need for trade registration.

Over the counter (OTC) derivatives offer much more flexibility than exchange traded derivatives. We discuss a wide range of OTC products including forwards, swaps and options.

We then examine the principles of clearing, margining and settlement, with the emphasis on commodity derivatives. We will also consider how market participants employ a variety of options strategies when hedging, speculating or trying to exploit arbitrage opportunities. Finally, we look at how regulations are applied in the main derivatives markets.

Certificate in Corporate Finance Full

The Certificate in Corporate Finance is the first part of the Corporate Finance Qualification. This tests a candidate’s understanding of basic corporate finance concepts and the regulatory environment. The full certificate includes both the regulation and technical foundations units, the contents of which are shown below. These units can be taken as a full course or booked individually.

Corporate Finance Regulation

We consider the regulatory environment in the UK and the Financial Services Authority (FSA). The role of the FSA is considered as well as the content of the FSA Handbook. The material also looks at the detail of The Financial Services and Markets Act 2000 (FSMA), defining regulated activities and specified investments, the authorisation process for firms and the approval process for individuals.

We also consider money laundering and insider dealing within financial crime, the City Code on Takeover and Mergers, the Companies Act and finally the equity capital markets, including the UKLA Listing rules.

Corporate Finance Technical Foundations

This unit requires a good knowledge of the mathematics behind risk assessment and valuation methods. We consider various quantitative methods, as well some detailed accounting analysis.

We also look at how a business can raise finance and the cost of capital associated with their capital structure. We then consider the four methods used to value a business. Finally, we look at the motivations behind acquisitions and disposals, and finish by discussing the various documentation used in corporate finance.