CISI Investment Advice Diploma (IAD)

The CISI Investment Advice Diploma (IAD) gives you the skills and knowledge you need to comply with the Retail Distribution Review's (RDR) new exam standards – known as the 'Level Four' qualifications.

Developed by the CISI, the IAD will strengthen your understanding of securities, derivatives and packaged products. The qualification is made up of two core units and a third technical unit, which can be specially selected to meet your individual requirements.

The Diploma is an award of the professional body CISI. BPP Professional Education provides a series of excellent study programmes to prepare you for the CISI assessments. This is not a BPP University course.

Key details: Dates and prices

Key Information

  • Outstanding first-time exam pass rate*
  • Pass assurance – repeat the course for free if you fail
  • In-house learning available
  • Classroom and distance learning options
  • Rapid tutor email response
  • High quality e-learning study materials

CISI exam changes

The Financial Services Bill received Royal Assent on 19th December 2012, becoming the Financial Services Act, and this came into force on 1 April 2013. This gives the Bank of England responsibility for protecting and enhancing financial stability. It also abolish the Financial Services Authority (FSA) and creates a new UK regulatory regime, consisting of the Financial Policy Committee (FPC), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). As a result of these regulatory changes, the CISI IAD regulatory unit is now known as the ‘UK Regulation and Professional Integrity’ unit.

Stay ahead of the curve

Following changes in the RDR qualification standards, if you're advising on, or working in, securities or derivatives and associated packaged products, you must have passed the Level Four qualifications.

Flexibility and choice

The BPP IAD gives you the flexibility to study when and where you choose – with a choice of either classroom courses or distance learning. We also provide an in-house service for some of the course – to find out more about this option email financialservices@bpp.com

Assessment

CISI Investment Large Promo



All exams are multiple-choice, except Private Client Advice which is a three-hour written exam, sat in either June or December.

Industry-leading tuition

BPP are the only publisher of study texts for CISI/ICAEW Diploma in Corporate Finance, CISI Diploma Fund Management, Bond and Fixed and Financial Derivatives.

You will also receive full tutor support at every stage – whether you choose classroom-based or distance learning. Tutors are always on hand to answer questions, provide revision tips and study examples, and are contactable out of classroom hours via phone or email.

*Our overall Level 3 (Capital Markets and Certificates) qualifications average 75% and overall Level 4 (IAD) qualifications average 77%

Dates and prices

For dates and prices and exam information, view the following forms:

Modules

1. Compulsory units one and two:


UK Regulation and Professional Integrity

This exam tests candidates’ ability to apply appropriate knowledge and understanding of UK financial markets, regulation and ethics to financial planning, advice and management for retail customers.

It will test the following elements:

  • The UK financial services industry and its relationship with UK consumers
  • Professional ethics and integrity
  • UK regulatory infrastructure, including European Union Directives
  • The FCA’s supervisory objectives, principles and processes
  • Authorisation of firms and individuals
  • The regulatory framework relating to financial crime
  • Complaints and compensation
  • The regulatory framework relating to the provision of financial services, fair treatment of customers and protection of client assets

Investment, Risk and Taxation

This exam assesses candidates’ ability to apply the knowledge, theory and practical techniques required in order to assess a client’s current financial position and future requirements. It also tests their ability to make suitable investment recommendations, monitor performance and respond appropriately to changing needs and circumstances.

It will test the following elements:

  • The macro-economic context of investment advice and planning
  • The main asset classes; characteristics and applications
  • The main investment products; characteristics and applications
  • Investment theories and their practical application
  • Identification, measurement and assessment of investment risks and returns
  • Taxation of investors and investments in the UK
  • Portfolio planning, construction, review and maintenance
  • Provision of investment advice including the ability to analyse clients’ circumstances and apply suitable investment product recommendations to meet client-led objectives

2. Technical units

Chosen from one of the following:

Securities

This exam tests candidates’ ability to apply appropriate knowledge and understanding of securities, markets and related functions and administration.

It will test the following elements:

  • Types of securities
  • Money markets and cash
  • Foreign exchange
  • Settlement and safe custody
  • Prime brokerage
  • Accounting analysis
  • Portfolio construction
  • Investment selection and administration

Derivatives

This exam assesses candidates’ basic knowledge of the regulations and practices in financial and commodity derivatives, their underlying markets, trading and the principles of investment strategies.

It will test the following elements:

  • Introduction to derivatives
  • Underlying assets
  • Exchange traded futures and options
  • OTC derivatives
  • Clearing
  • Delivery and settlement
  • Portfolio research and construction
  • Trading, hedging and investment strategies
  • Investment selection and administration
  • Special regulatory requirements

Private Client Advice

This unit provides employees advising on packaged products with the planning skills for financial protection, pensions and retirement. It builds on the core knowledge gained from the UK Regulation and Professional Integrity and Investment, Risk and Taxation units.

The three main areas of the syllabus are:

  1. Financial protection
  2. Pensions and retirement planning
  3. Application of knowledge and understanding

Structure

The IAD is made up of two compulsory core units:

  • UK Regulation and Professional Integrity – multiple-choice exams on demand, via Computer Based Training (CBT)
  • Investment, Risk and Taxation – multiple-choice exams on demand, via CBT

Plus one option from the following technical units:

  • Securities – multiple-choice exams on demand, via CBT
  • Derivatives – multiple-choice exams on demand, via CBT
  • Private Client Advice – assessed by a three-hour written exam

If you already have IMC Level Four, you are usually exempt from either the UK Regulation and Professional Integrity or the Investment, Risk and Taxation exam papers. We would recommend that you confirm this directly with the CISI.

You will need to pass three units to complete the Level 4 IAD. Two of the units are compulsory, and the third is a technical unit which you can select from three options.

The exams are multiple-choice and computer based, except the Private Client Advice paper, which is a three-hour written exam.

Exemptions

The CISI offers an exemption from ONE of the IAD units to individuals who hold the following qualifications:

CII Level 4 Diploma in Regulated Financial Planning

Exemption from the UK Regulation and Professional Integrity unit if you hold RO1 or;
Exemption from the Investment, Risk & Taxation unit if you hold RO2 and RO3 or;
Exemption from the Private Client Advice unit of the IAD if you hold RO4, RO5 and RO6

If you hold several relevant CII units you may choose between the exemptions that are available. Exemption from more than one IAD unit is not available.

CFA UK Level 4 Investment Management Certificate

Exemption from the UK Regulation and Professional Integrity unit if you hold IMC Unit 1.

Exemption from the Investment, Risk & Taxation if you hold IMC Unit 2.

If you hold the full IMC, you may choose between exemption from UK Regulation and Professional Integrity or exemption from Investment, Risk & Taxation. Exemption from more than one IAD unit is not available.

An exemption from the IAD exam will cost £50 for one unit, and can be applied for using the IAD Exemption Form that can be downloaded from the CISI website.

View the CISI Exemption Policy.

Flexible learning

The BPP IAD courses are designed to fit around your personal and business life. Choose to study either on a classroom-based course or, at your own pace, via distance learning.

Taught courses

IAD taught courses focus on the more technical aspects of the syllabus, running through examples and practising questions to help you get to grips with the complex issues involved.

All our courses are taught by tutors with both academic and professional experience. The classroom environment is fully interactive, meaning you can ask questions and get immediate feedback from your tutor.

Distance learning

Our distance learning option allows you to study when, where and how you want – using online tutorials, revision kits and study guides, as well as MP3 and MP4 downloads. You'll also receive tutor support at every stage – with contact via phone and email.

  • MP3 and MP4 downloads
  • Online tutorials and revision kits
  • Full tutor support, whether learning in the classroom or distance learning
  • Rapid email response
  • Practice exam papers and consolidation exercises
  • Study guides for time management tips and learning techniques
  • PowerPoint course slides of class tutorials

We offer start dates for unit courses throughout the year. For more information please email us at financialservices@bpp.com

Entry requirements

The Level Four Investment Advice Diploma qualification is intended for employees currently advising and/or dealing in securities and derivatives, and those advising on packaged products.

There are no formal entry requirements for the Level Four Investment Advice Diploma

Exemptions

The CISI offers an exemption from ONE of the IAD units. See exemptions.

How to apply

We offer start dates for unit courses from July to December. For more information please email us at financialservices@bpp.com