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CISI ICWIM Exam Syllabus Topics:
| Section | Weight | Objectives |
| Topic 1: Client Advisory | 25% | - Portfolio construction
- 1. Performance measurement
- 2. Portfolio review and rebalancing
- 3. Asset allocation strategies
- Client needs analysis
- 1. Time horizons
- 2. Investment objectives
- 3. Risk profiling and suitability
|
| Topic 2: Regulation and Ethics | 15% | - Regulatory framework
- 1. Investor protection
- 2. Compliance requirements
- 3. Financial regulation principles
- Ethical conduct
- 1. Professional responsibilities
- 2. Conflict of interest
- 3. CISI Code of Ethics
|
| Topic 3: Market Environment | 20% | - 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. Business cycles
- 2. Interest rates and inflation
- 3. Macroeconomic factors affecting investments
|
| Topic 4: Financial Products | 20% | - Bonds and fixed income
- 1. Bond types and characteristics
- 2. Yield and price relationships
- 3. Credit risk
- Equities and shares
- 1. Types of equity
- 2. Dividends and total return
- 3. Valuation methods
- Collective investments
- 1. Fund selection criteria
- 2. ETFs and index trackers
- 3. Funds and structured products
|
| Topic 5: Risk and Return | 20% | - Risk concepts
- 1. Risk diversification
- 2. Types of investment risk
- 3. Risk measurement
- Portfolio theory
- 1. Risk-return profiling
- 2. Modern portfolio theory
- 3. Asset allocation principles
|
CISI International Certificate in Wealth & Investment Management Sample Questions:
1. Enhanced due diligence is required in relation to customer identity if there is a possibility that the customer might be:
A) A politically exposed person
B) A member of the armed forces
C) A chairperson of a listed company's board
D) A non-executive company director
2. What is a key feature of Islamic bonds (Sukuk)?
A) The bond can only be linked to tangible assets in Islamic countries
B) The holder of the bond has partial ownership of the underlying assets
C) The holder of the bond has full ownership of the underlying assets
D) The bond can only be linked to intangible assets in Islamic countries
3. When an investment manager manages and makes changes to a portfolio without referring to the client, this is known as:
A) Financial planning
B) Discretionary
C) Advisory dealing
D) Execution-only
4. An investor is going to use bonds to meet a future liability. Why are they considering a laddering strategy?
A) To take advantage of changes in interest rates
B) In order to reduce their sensitivity to interest rate risk
C) To benefit from market mispricing
D) Because they anticipate a fall in interest rates
5. Ex-ante security attribution seeks to identify:
A) Future risks
B) Why the portfolio performed the way it did
C) Portfolio outperformance
D) An appropriate benchmark
Solutions:
Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: A |