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CISI ICWIM Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Investment Management | 15% | - Risk and return concepts - Performance measurement and evaluation - Investment strategies - Portfolio construction theories |
| Topic 2: The Financial Services Sector | 16% | - Market functions and products - Structure and participants - Regulatory objectives and frameworks - Ethical standards and professional conduct |
| Topic 3: Lifetime Financial Provision | 18% | - Trusts and foundations - Estate and succession planning - Protection and insurance planning - Retirement planning |
| Topic 4: Industry Regulation | 10% | - Compliance and governance - Financial crime prevention - Client categorization and protection - Regulatory authorities and rules |
| Topic 5: Asset Classes | 10% | - Derivatives - Real estate and alternative assets - Cash and money market instruments - Equities - Fixed income securities |
| Topic 6: Investment Advice | 21% | - Taxation principles - Communication and documentation - Portfolio recommendations and review - Advisory process |
| Topic 7: Economics and Investment Analysis | 10% | - Valuation methods - Macroeconomics and markets - Investment mathematics and statistics - Economic indicators and cycles |
| Topic 8: Fiduciary Relationships | 16% | - Risk profiling and suitability - Duties and responsibilities - Conflicts of interest - Client needs assessment |
CISI International Certificate in Wealth & Investment Management Sample Questions:
1. In what circumstances would a central bank use its foreign reserves in the currency markets?
A) To control the money supply
B) To influence the nation's currency
C) When influencing the short-term interest rate
D) To lower the rate of inflation
2. In relation to the financial services industry, which one of the following statements regarding the European Union is true?
A) It has the power of veto over national regulators
B) It operates as a single regulator
C) It delegates systemic risk control to the European Central Bank
D) It aims to bring about a single market
3. What is likely to be the result if an annual review of a client's financial plan indicates a significant change in their risk profile?
A) A customer due diligence check
B) A change to the charging structure
C) A top-up payment
D) A rebalancing exercise
4. The concept of the Sharpe ratio is to measure the:
A) Amount of performance attributable to a benchmark
B) Effect the annual charge has on fund performance
C) Return above a risk-free rate
D) Ability of the fund manager in different scenarios
5. A bullet bond portfolio can have an advantage over a barbell bond portfolio because:
A) It is always riding the yield curve
B) A bullet portfolio does not require regular rebalancing
C) The gross redemption yield is always higher
D) It only invests in short-dated bonds
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: B |




