CISI Diploma

The Chartered Institute for Securities & Investment (CISI) Diploma is one of the UK's leading postgraduate finance qualifications – and BPP offers more choice and greater chance of success than any other provider. Once completed, you'll have an excellent understanding of client investment advice and management, plus the prestigious MCSI designation after your name.

With BPP, you can choose from eight CISI Diploma papers – enabling you to specialise in the areas that interest you. You'll benefit from expert tutor support, classroom and distance learning options with on and offline materials. We have more experience teaching towards the popular Private Client Investment Advice and Management (PCIAM) exam than anyone else.

Key Information

  • Outstanding first-time exam pass rate
  • Greater experience teaching the PCIAM qualification than any other provider
  • More specialisation and study choices than any other provider
  • Level six PCIAM expert tuition
  • Classroom, distance learning and material only options
  • Regulation and compliance courses with legal CPD accreditation
  • Full-time support from expert tutors
  • Work towards RDR compliance requirements

Take the next step in your career

Gaining the CISI Diploma allows you to use the MCSI designation after your name, as well as becoming eligible for FCSI designation.

Gain your PCIAM qualification

As part of the CISI Diploma at BPP, you'll have the opportunity to study for the sought-after Level Six PCIAM certificate. This prestigious qualification covers all aspects of private client advice in the areas of securities, investment, compliance, derivatives and operations. The latest FSA legislation means those who pass the PCIAM paper (who are already Level Three Qualified) will only need to take the CPD top up to become RDR compliant.

Widest choice of specialisation options

Your CISI Diploma opens up countless exciting career opportunities. Plus, as we offer more course specialisation options than any other provider, you can develop the areas you choose.

You could focus on areas relevant to your current position or where you hope to work in the future, strengthening your skill set and becoming a more attractive prospect to new employers.

Outstanding flexibility and study options

You must pass three of the eight papers available to gain the CISI Diploma. The more popular papers include Bond and Fixed Interest Markets, Fund Management, Regulation and Compliance and Private Client Investment Advice and Management – see the course paper options section for the full list.

You can choose from classroom courses or distance learning. We also provide an in-house service for some of the courses. Please contact us on 0845 226 2422 or email in-house@bpp.com for more information on this option.

The latest learning materials

Throughout your CISI Diploma, we'll provide the most up-to-date study texts, study guides and past examinations, along with examiner answers and comments. We'll give you press cuttings, PowerPoint course slides and tutor support either face-to-face or via phone and email. We'll help you prepare with practice questions and mock papers from past papers, to make sure you're fully ready for your exams.

Course options

We offer more CISI Diploma study options than any other provider – from course papers in Financial Derivatives and Fund Management to Regulation and Compliance.

You must pass three options to be awarded the Diploma.

Bond and Fixed Interest Markets

This paper will qualify you to conduct business either as an Agent or as a Principal in Government Bonds and other fixed interest securities in the UK.

Financial Derivatives

This paper provides a detailed understanding of the special characteristics of derivatives, including forwards, futures, swaps, options and others, and their relationship to the underlying cash securities. It enables you to use these instruments to address a wide range of trading and investment objectives, and to understand and be able to control the risks of financial derivatives and derivatives portfolios.

Fund Management

This paper provides a broad understanding of the theory and practice of institutional investment so that you are equipped to undertake the management of funds for institutional clients. You should ensure that you are up-to-date in your knowledge and understanding of topical issues.

Global Operations Management

This paper provides you with an understanding of operations and settlement procedures, from a management perspective. Learn to effectively service the operational and settlement needs of a firm and its clients.

Interpretation of Financial Statements (IFS)

This paper ensures you can use company financial information to effectively assess the securities issued by companies. It assesses your analytical and interpretative skills but you are expected to have an understanding of standard accounting practices and an awareness of current matters. This module will provide an exemption to the first unit (Financial Markets) of the new CISI Masters in Wealth Management.

Investment Analysis

This paper enables you to evaluate, describe and make recommendations on equity investments, for both private and institutional investors, within the context of other investment vehicles. Whilst the emphasis is on the UK market, a knowledge of major developments in the overseas markets is required as well as an understanding of company accounts. We recommend that if you intend to sit this and the IFS paper, IFS should be attempted first. This module will provide an exemption to the first unit (Financial Markets) of the new CISI Masters in Wealth Management.

Private Client Investment Advice & Management (PCIAM)

This paper provides a broad knowledge of the principles of investment in financial assets within the current regulatory environment, to identify client requirements, match products to the clients' needs and communicate conclusions to a client. You must ensure you read the financial press and journals to maintain your knowledge and awareness of latest developments. This module will give you solid knowledge to take on the new CISI Masters in Wealth Management.

Candidates who have passed the PCIAM module and have completed the CPD top-up necessary for RDR purposes, will be exempt from Unit 1 (Financial Markets) of the Masters qualification, and can progress directly to Unit 2 (Portfolio Construction Theory).


Regulation & Compliance

This paper tests your understanding of the regulatory framework of the financial services industry and any legal and ethical constraints. You should have an understanding of the underlying principles and policy considerations as well as the practical application of the regulatory system. Although no specific prior knowledge is required, the regulatory environment is in the midst of significant change so you need to ensure your knowledge is up-to-date.

Dates and prices

For dates and prices and exam information, view the CISI Diploma booking form.

New look PCIAM course structure for 2012

BPP is introducing a new 7 day training course, split over our traditional three phases, that gives you the required knowledge as well as the time to properly understand it. We believe it is important that you build upon this understanding while also having the opportunity to develop your skills and exam technique.

To this end, BPP is also introducing a new optional Mock Exam day, where you will have the opportunity to practice towards the exam by sitting a full three hour mock exam paper in the morning. This will be followed by a full de-brief in the afternoon, aimed at giving you the opportunity to practice your exam technique in a realistic environment, and to gear up for the actual day. This is an optional Mock Exam day, and is free of charge to delegates on the classroom course.

Flexible learning

The CISI Diploma is available as both a classroom-based course and through distance learning – allowing you to choose the option that best suits your circumstances.

Classroom study

We use a tried and tested three stage approach to teaching each course, to help maximise your chance of success. This includes:

  • Phase One – introduction to key concepts and ideas
  • Phase Two – learn and understand the main subject areas to broaden your knowledge
  • Phase Three – apply your knowledge through testing and consolidation

Distance learning

Our distance learning course enables you to study at a time, pace and place that suits your lifestyle. This option gives you added flexibility, but it still covers all aspects of the syllabus, so you don't miss out on core subject areas. Throughout your studies, further support is available from our experienced tutors.

Key study points

  • Full tutor support, whether learning in the classroom or self-study
  • Mock exam papers and past examinations
  • Study guide for time management tips and learning techniques
  • The best study text books and user-friendly learning materials
  • Press cuttings for real-world study
  • PowerPoint course slides of class tutorials

Flexible start dates

We offer start-dates throughout the year. For more information get in touch with the BPP team on +44 (0)20 8746 4178 or email us at financialservices@bpp.com

In-house teaching

As well as offering courses for individuals, we're happy to work alongside firms to help develop their employees – improving capabilities and knowledge. Above all, we focus on the precise requirements of your organisation, providing tailored training at a time and location to suit you.

To find out more about how we could help your organisation, please contact us on 0845 226 2422 or email in-house@bpp.com

Entry requirements

The CISI Diploma has no set entry requirements. However, it's recommended you gain industry experience before embarking on this qualification.

You may sit the exam as many times as you like.

Possible exemptions

Exemptions are available on the following papers, depending on your existing qualifications and experience:

  • Interpretation of Financial Statements
  • Investment Analysis

Please contact the Chartered Institute for Securities and Investment to find out if you're eligible for exemptions – email exemptions@sii.org.uk or speak to your compliance officer.

How to book



Scenarios for existing CISI diploma delegates

If you've studied towards one or more papers from the existing CISI Diploma and can't decide whether to continue with the CISI Diploma or move onto the new CISI Masters in Wealth Management programme, we've outlined some scenarios which could help you decide. If you would like to speak to someone about this, please do not hesitate to contact our Course Booking Team on +44 (0)208 746 4178 and one of our team will be happy to help.

Studied towards one CISI Diploma paper
The options below are applicable to delegates that have studied towards one existing CISI Diploma paper. They show the options available depending upon the paper you have already sat. Please note that you could take any of the three modules from the CISI Masters in Wealth Management as one of your papers to complete the CISI Diploma (certain restrictions apply - see table at the bottom of this page).

Regulation and Compliance (R&C)
You could either decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management (3 modules and exams).

Private Client Investment Advice and Management (PCIAM)
You could decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management (3 modules and exams, but PCIAM knowledge will assist you in the CISI Masters in Wealth Management).

Investment Analysis (IA)
You could decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR start the CISI Masters in Wealth Management because you are exempt from module 1 (Financial Markets) of the CISI Masters in Wealth Management so can progress straight to module 2 (Portfolio Construction Theory).

Interpretation of Financial Statements (IFS)
You could decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR start the CISI Masters in Wealth Management because you are exempt from module 1 (Financial Markets) of the CISI Masters in Wealth Management so can progress straight to module 2 (Portfolio Construction Theory).

Any other CISI Diploma paper........
You could decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management from the beginning (3 modules and exams).

Studied towards two CISI Diploma papers

The options below are applicable to delegates that have studied towards two existing CISI Diploma papers. They show the options available depending upon the papers you have already sat. Please note that you could take any of the three modules from the CISI Masters in Wealth Management as your third paper to complete the CISI Diploma (certain restrictions apply - see table at the bottom of the page).

Regulation & Compliance (R&C) and Private Client Investment Advice and Management (PCIAM)
You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management (3 modules and exams, but PCIAM knowledge will assist you in the CISI Masters in Wealth Management); OR finish the CISI Diploma (taking Investment Analysis or Interpretation of Financial Statements) and then complete the CISI Masters in Wealth Management (2 modules and exams), because IA or IFS gives you an exemption from module 1 (Financial Markets).

Regulation & Compliance (R&C) and Investment Analysis (IA)

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management (2 modules and exams, because IA gives you an exemption from module 1 (Financial Markets)); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Masters in Wealth Management (2 modules and exams, because Investment Analysis gives you an exemption from module 1 (Financial Markets)).

Regulation & Compliance (R&C) and Interpretation of Financial Statements (IFS)
You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management (2 modules and exams, because IFS gives you an exemption from module 1 (Financial Markets)); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Masters in Wealth Management (2 modules and exams, because IFS gives you an exemption from module 1 (Financial Markets)).

Investment Analysis (IA) and one other CISI Diploma paper
You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management (2 modules and exams, because IA gives you an exemption from module 1 (Financial Markets)); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Masters in Wealth Management (2 modules and exams, as IA gives you an exemption from module 1 (Financial Markets)).

Interpretation of Financial Statements (IFS) and one other CISI Diploma paper

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management (2 modules and exams, because IFS gives you an exemption from module 1 (Financial Markets)); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Masters in Wealth Management (2 modules and exams, because IFS gives you an exemption from module 1 (Financial Markets)).  

Any other combination of two CISI Diploma papers

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Masters in Wealth Management (3 modules and exams); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Masters in Wealth Management (2 or 3 modules and exams – level of additional workload will depend upon which two specific CISI Diploma papers have been taken).

If you are still unsure and would like to speak to someone, please call our Course Booking Team on +44 (0)208 746 4178. For specific information on exemptions, we recommend that you contact the Chartered Institute for Securities & Investment (CISI) directly on +44 (0) 20 7645 0600.  

CISI Diploma papers that count towards CISIM (Wealth Management) modules
The existing CISI Diploma papers that can be taken with the new CISIM (Wealth Management) modules to achieve the CISI Diploma are represented in the table below:

Financial Markets

  • Bond & Fixed Interest Markets
  • ICAEW Diploma in Corporate Finance
  • Financial Derivatives
  • Fund Management
  • Global Operations Management
  • Management Studies
  • Private Client Investment Advice & Management
  • Regulation and Compliance

Portfolio Construction Theory

  • Bond & Fixed Interest Markets
  • ICAEW Diploma in Corporate Finance
  • Financial Derivatives
  • Global Operations Management
  • Interpretation of Financial Statements
  • Investment Analysis
  • Management Studies
  • Regulation and Compliance

Applied Wealth Management

  • Bond & Fixed Interest Markets
  • ICAEW Diploma in Corporate Finance
  • Financial Derivatives
  • Fund Management
  • Global Operations Management
  • Interpretation of Financial Statements
  • Investment Analysis
  • Management Studies
  • Regulation and Compliance

Study locations

Classroom teaching for the CISI Diploma is held at the London Liverpool Street study centre – close to Bank, Moorgate and Liverpool Street Station. Based in the heart of the UK's financial services centre, it allows you to rub shoulders with the industry's leading thinkers.


How to book