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CISI ICWIM Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Asset Classes | 10% | - Cash and money market instruments - Real estate and alternative assets - Derivatives - Equities - Fixed income securities |
| Topic 2: Industry Regulation | 10% | - Compliance and governance - Financial crime prevention - Regulatory authorities and rules - Client categorization and protection |
| Topic 3: Investment Advice | 21% | - Communication and documentation - Taxation principles - Advisory process - Portfolio recommendations and review |
| Topic 4: The Financial Services Sector | 16% | - Structure and participants - Regulatory objectives and frameworks - Market functions and products - Ethical standards and professional conduct |
| Topic 5: Fiduciary Relationships | 16% | - Duties and responsibilities - Risk profiling and suitability - Client needs assessment - Conflicts of interest |
| Topic 6: Economics and Investment Analysis | 10% | - Macroeconomics and markets - Economic indicators and cycles - Valuation methods - Investment mathematics and statistics |
| Topic 7: Lifetime Financial Provision | 18% | - Estate and succession planning - Trusts and foundations - Retirement planning - Protection and insurance planning |
| Topic 8: Investment Management | 15% | - 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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