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Personal Finance Society
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Key information


What does the qualification involve?

The Certificate in Regulated Financial Services Operations comprises one core unit and two option units from the Personal Finance qualifications framework, providing a minimum of 35 credits on completion.

Candidates are required to take one of the following core units:

  • (R01) Financial services, regulation and ethics, or
  • (CF1) UK financial services, regulation and ethics

And two units from the following options:

  • (FA1) Life office administration
  • (FA2) Pensions administration
  • (FA4) Collective investment scheme administration
  • (FA5) Individual savings account administration
  • (FA6) Investment client servicing

There is no prescribed order in which units must be taken, but it is strongly recommended that you sit the required compulsory unit(s) first as these provide foundation knowledge upon which the others build.

 

For the unit syllabuses, return to the Certificate in Regulated Financial Services Operations landing page where you will find the syllabus link at the top right of the page.

 

Unit overview:

Unit

Assessment method

Study hours*

Credits awarded

Unit level

 

 

 

 

 

(R01) Financial services, regulation and ethics

·         2-hour exam

·         100 multiple choice questions

·         65% nominal pass mark**

60

20

4

(CF1) UK financial services regulation and ethics

·         2-hour exam

·         100 multiple choice questions

·         70% nominal pass mark**

60

15

3

(FA1) Life office administration

·         1-hour exam

·         50 multiple choice questions

·         70% nominal pass mark**

60

10

3

(FA2) Pensions administration

·         1-hour exam

·         50 multiple choice questions

·         70% nominal pass mark**

60

10

3

(FA4) Collective investment scheme administration

·         1-hour exam

·         50 multiple choice questions

·         70% nominal pass mark**

70

10

3

(FA5) Individual savings account administration

·         1-hour exam

·         50 multiple choice questions

·         70% nominal pass mark**

70

10

3

(FA6) Investment client servicing

·         1-hour exam

·         50 multiple choice questions

·         70% nominal pass mark**

70

10

3

Find out more about assessment methods, including exam policies and centres »


Units treated as equivalent

Due to the extent of syllabus overlap, certain combinations of current and withdrawn CII units will result in only one award of credits.

If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. Clarification should always be sought from CII Customer Service.

Find out more about credit awards for equivalent units »

 

*The recommended minimum study hours will vary depending on your experience and ability.

** The actual pass mark may vary from one session to another to ensure consistency in pass standards.