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CISI ICWIM Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Investment Advice | 21% | - Taxation principles - Communication and documentation - Advisory process - Portfolio recommendations and review |
| Topic 2: Fiduciary Relationships | 16% | - Client needs assessment - Conflicts of interest - Duties and responsibilities - Risk profiling and suitability |
| Topic 3: The Financial Services Sector | 16% | - Market functions and products - Ethical standards and professional conduct - Regulatory objectives and frameworks - Structure and participants |
| Topic 4: Lifetime Financial Provision | 18% | - Trusts and foundations - Protection and insurance planning - Retirement planning - Estate and succession planning |
| Topic 5: Economics and Investment Analysis | 10% | - Valuation methods - Macroeconomics and markets - Investment mathematics and statistics - Economic indicators and cycles |
| Topic 6: Asset Classes | 10% | - Derivatives - Fixed income securities - Real estate and alternative assets - Equities - Cash and money market instruments |
| Topic 7: Industry Regulation | 10% | - Compliance and governance - Client categorization and protection - Financial crime prevention - Regulatory authorities and rules |
| Topic 8: Investment Management | 15% | - Performance measurement and evaluation - Investment strategies - Portfolio construction theories - Risk and return concepts |
CISI International Certificate in Wealth & Investment Management Sample Questions:
1. Once an offshore foundation is established, who will normally be responsible for making ongoing decisions regarding the operational use of the foundation's assets?
A) The board of directors
B) The beneficiaries
C) The council
D) The trustees
2. How do passive fund managers use swaps to replicate an index?
A) They swap a pre-defined return in exchange for the return on the index
B) Having created an index fund, the managers use swaps to cover the tracking error
C) They swap the return on the index in exchange for a fixed fee
D) The loss on an index is swapped for the profit on a different index
3. Which of the following will be a major constraint on a client's ability to invest and protect against all risks?
A) Age
B) Tax implications
C) Risk aversion
D) Affordability
4. Tax relief that can be claimed to prevent overseas profits being taxed twice is known as:
A) Double Taxation Agreement
B) Overseas Taxation Relief
C) Dividend Taxation Relief
D) Double Taxation Relief
5. Which of the following types of funds is able to cancel units?
A) Closed-ended
B) Open-ended
C) Split capital trust
D) Investment trust
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: B |







