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Personal Finance Society
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Key facts

Key facts for the Certificate in Pension Transfer Advice

Ofqual Regulated Qualification Framework (RQF) Level Level 4 (AF7 Level 6)
Number of available units 4 units
Compulsory units • (R01) Financial services, regulation and ethics
• (R02) Investment principles and risk
• (R04) Pensions and retirement planning
• (AF7) Pension transfers
CII credits required to complete (existing credits carried forward) 70
CII credits per unit R01/R02/AF7 - 20 credits
R04 - 10 credits
Combination of units at any level allowed Not applicable
Exam format

• Online, 2 hours
• 100 multiple choice questions
• Online, 1 hour
• 50 multiple choice questions
• 2 hour exam
• 3-4 written short answer questions
• 2 case study based questions

Average study time per unit R01/R02 - 60 hours
R04 - 50 hours
AF7 - 100 hours
Availability of exam sessions (Details shown apply to the UK. Outside of the UK exams are offered twice-yearly)

Year-round (R01/R02/R04)
Availability varies from centre to centre, but typically weekly
Twice yearly (AF7)
April/October (first exam October 2017) 

Entry requirements? None, however it is recommended that students complete R04 before undertaking unit AF7
Credits available for prior learning? Yes
Record of Achievement issued for each exam pass? Yes
CII/PFS membership designation Not applicable