Cookies on the PFS website

By using and browsing the PFS website, you consent to cookies being used in accordance with our policy. If you do not consent, you are always free to disable cookies if your browser permits, although doing so may interfere with your use of some of our sites or services. Find out more »

Personal Finance Society
Recently added to my basket
Sorry but there was an error adding this to your basket. Please try adding it again

Key facts

Key facts for the Certificate in Regulated Financial Services Operations

Ofqual Regulated Qualification Framework (RQF) Level Level 3
Number of available units 6 Certificate units and 1 Diploma unit
Compulsory units 1 unit:
• (R01) Financial services, regulation and ethics; or
• (CF1) UK financial services, regulation and ethics
Elective units 2 units from:
• (FA1) Life office administration; 
• (FA2) Pensions administration; 
• (FA4) Collective investment scheme administration;
• (FA5) Individual savings account administration; or
• (FA6) Investment client servicing
CII credits required to complete
(existing credits carried forward)
CII credits per unit • R01 - 20 credits
• CF1 - 15 credits
• FA1/FA2/FA4-FA6 - 10 credits
Exam format R01/CF1
• Online, 2 hours
• 100 multiple choice questions (MCQs)
• Online, 1 hour
• 50 MCQs

Average study time per unit • R01/CF1/FA1/FA2 - 60 hours
FA4-FA6 - 70 hours
Availability of exam sessions
(Details shown apply to the UK. Outside of the UK exams are offered twice-yearly)
Availability varies from centre to centre, but typically weekly at over 40 centres across the UK.
Entry requirements? None
Credits available for prior learning? Yes
Record of Achievement issued for each exam pass? Yes
CII/PFS membership designations Cert CII (FS)