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CISI ICWIM Exam Syllabus Topics:

SectionWeightObjectives
Client Advisory25%- Portfolio construction
  • 1. Asset allocation strategies
  • 2. Portfolio review and rebalancing
  • 3. Performance measurement
- Client needs analysis
  • 1. Risk profiling and suitability
  • 2. Time horizons
  • 3. Investment objectives
Risk and Return20%- Risk concepts
  • 1. Risk measurement
  • 2. Types of investment risk
  • 3. Risk diversification
- Portfolio theory
  • 1. Asset allocation principles
  • 2. Modern portfolio theory
  • 3. Risk-return profiling
Market Environment20%- Role and function of financial markets
  • 1. Market participants and intermediaries
  • 2. Types of financial markets and their roles
  • 3. Market indices and benchmarks
- Economic environment
  • 1. Macroeconomic factors affecting investments
  • 2. Business cycles
  • 3. Interest rates and inflation
Financial Products20%- Bonds and fixed income
  • 1. Yield and price relationships
  • 2. Credit risk
  • 3. Bond types and characteristics
- Collective investments
  • 1. Fund selection criteria
  • 2. ETFs and index trackers
  • 3. Funds and structured products
- Equities and shares
  • 1. Valuation methods
  • 2. Types of equity
  • 3. Dividends and total return
Regulation and Ethics15%- Regulatory framework
  • 1. Investor protection
  • 2. Financial regulation principles
  • 3. Compliance requirements
- Ethical conduct
  • 1. Professional responsibilities
  • 2. CISI Code of Ethics
  • 3. Conflict of interest

CISI International Certificate in Wealth & Investment Management Sample Questions:

Why does prospect theory suggest that investors are inconsistent in their attitude to risk?

  • A. Reluctance to realise gains yet quick to take losses
  • B. Due to their reliance on past performance
  • C. Because once asset allocations have been made, investors are reluctant to change them
  • D. Reluctance to realise losses yet quick to take gains
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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The use of a bare trust ensures that the:

  • A. Beneficiary has a right to the income but not the capital
  • B. Beneficiary has the right to all of the capital and income once they reach a certain age
  • C. Trustees have discretion over who the income and capital is paid to
  • D. Name of the beneficiary remains private
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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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 rebalancing exercise
  • B. A change to the charging structure
  • C. A customer due diligence check
  • D. A top-up payment
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for Pass4Leader members. You can sign-up / login (it's free).

Typically, inflation is calculated by a central bank based on:

  • A. The rate of change of interest rates
  • B. A survey of leading banks
  • C. A basket of goods
  • D. The prices of important commodities
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for Pass4Leader members. You can sign-up / login (it's free).

Establishing sufficient details about a client in order to give advice is known as:

  • A. Client fact-finding
  • B. Giving information on status disclosure
  • C. Determining attitude to risk
  • D. Assessing suitability and affordability
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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