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CISI ICWIM

ICWIM

Exam Code: ICWIM

Exam Name: International Certificate in Wealth & Investment Management

Updated: Aug 25, 2026

Q & A: 256 Questions and Answers

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CISI ICWIM Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Asset Classes10%- Cash and money market instruments
- Real estate and alternative assets
- Derivatives
- Equities
- Fixed income securities
Topic 2: Industry Regulation10%- Compliance and governance
- Financial crime prevention
- Regulatory authorities and rules
- Client categorization and protection
Topic 3: Investment Advice21%- Communication and documentation
- Taxation principles
- Advisory process
- Portfolio recommendations and review
Topic 4: The Financial Services Sector16%- Structure and participants
- Regulatory objectives and frameworks
- Market functions and products
- Ethical standards and professional conduct
Topic 5: Fiduciary Relationships16%- Duties and responsibilities
- Risk profiling and suitability
- Client needs assessment
- Conflicts of interest
Topic 6: Economics and Investment Analysis10%- Macroeconomics and markets
- Economic indicators and cycles
- Valuation methods
- Investment mathematics and statistics
Topic 7: Lifetime Financial Provision18%- Estate and succession planning
- Trusts and foundations
- Retirement planning
- Protection and insurance planning
Topic 8: Investment Management15%- Portfolio construction theories
- Investment strategies
- Risk and return concepts
- Performance measurement and evaluation

CISI International Certificate in Wealth & Investment Management Sample Questions:

1. Tax relief that prevents overseas profits from being taxed twice is called:

A) Double Taxation Relief
B) Double Taxation Agreement
C) Overseas Taxation Relief
D) Dividend Taxation Relief


2. It is impossible to diversify against:

A) Currency risk
B) Credit risk
C) Market risk
D) Liquidity risk


3. An adviser is reviewing a client's portfolio, which has a time horizon of 15 years and is made up primarily of bonds and cash but with some exposure to equities and other higher-risk investments. It is reasonable to believe that the client's risk appetite is:

A) Mid Risk
B) Low Risk
C) Mid-High Risk
D) Low-Mid Risk


4. A market that employs an electronic order book to match buyers with sellers in strict order by price is known as:

A) Order-driven
B) Quote-driven
C) On-exchange
D) Over-the-counter


5. How does the inclusion of a bond fund within a portfolio provide benefits over direct investing?

A) A bond fund is more likely to match the exact needs of the client
B) Bond fund charges will always be lower
C) A bond fund provides a greater level of income
D) It allows for diversification that would not otherwise be possible


Solutions:

Question # 1
Answer: A
Question # 2
Answer: C
Question # 3
Answer: D
Question # 4
Answer: A
Question # 5
Answer: D

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