CISI Applied Wealth Management Exam Preparation
Structured preparation for the final Level 7 Applied Wealth Management unit in the three-unit CISI Chartered Wealth Manager Qualification.
Course syllabus information reviewed for 2026. Always check the awarding body’s latest official syllabus and candidate updates before booking or sitting your exam.
Your exam preparation path
Preparation for the Applied Wealth Management unit; completing the Chartered Wealth Manager Qualification requires all current CISI route requirements to be satisfied.
Prepare for the CISI Applied Wealth Management examination
Applied Wealth Management, commonly shortened to AWM, is the final Level 7 unit in the CISI Chartered Wealth Manager Qualification. It is a distinct written examination rather than the complete qualification. Candidates must also satisfy the route requirements for Financial Markets and Portfolio Construction Theory.
This storefront follows the latest official syllabus located and reviewed for the November 2026 sitting. The study workbook contains seven chapters, while the official syllabus is organised into ten learning outcomes. AWM emphasises application: candidates may be assessed on aspects of all three units and must connect technical knowledge to private-client planning, portfolio decisions and professional recommendations.
The formal assessment is a three-hour, 100-mark narrative paper. Section A requires four short answers selected from six for 20 marks. Section B contains two compulsory 20-mark questions. Section C is a compulsory 40-mark case-study section. The learning and written-answer practice bank is currently being completed, and purchasers see the current two-hour update notice while that work finishes.
Always confirm the latest official CISI syllabus and Candidate Update for your sitting. The current 2026 map is designed to make the scope clear without assuming that workbook reading alone replaces wider reading, past-paper practice or practical experience.
Exam Format & Details
| Assessment | Three-hour narrative written paper: four short answers from six, two compulsory 20-mark questions and a compulsory 40-mark case-study section |
| Duration | 180 Minutes |
| Level | CISI Level 7 |
| Total Qualification Time | 200 hours |
Key Benefits
Three-section written-exam method
Prepare the different response skills required for concise short answers, compulsory applied questions and the 40-mark case study.
- ✓ Four short answers from six
- ✓ Two compulsory 20-mark questions
- ✓ Compulsory 40-mark case study
Integrated wealth-planning scope
Connect regulation, financial planning, investment, retirement, protection, taxation and client-wealth management.
- ✓ Seven study chapters
- ✓ Ten official learning outcomes
- ✓ Private-client application
Qualification-route clarity
Study AWM as the final unit while keeping its relationship with Financial Markets and Portfolio Construction Theory explicit.
- ✓ Final Level 7 unit
- ✓ Three-unit qualification route
- ✓ Cross-unit assessment scope
Syllabus
Module 1: UK Financial Services Regulation
Explain the UK regulatory system and its implications for firms, advisers and wealth-management clients.
- • Regulators and authorisation
- • Conduct, Consumer Duty and ethics
- • Financial crime, data and RegTech
Module 2: Client Investment Planning
Develop, construct, implement and communicate a suitable financial and investment plan for a client.
- • Client circumstances and objectives
- • Risk, time horizons and priorities
- • Recommendations and intergenerational planning
Module 3: Ongoing Portfolio and Client Review
Revisit the financial plan and manage the ongoing client relationship and private-client portfolio.
- • Portfolio monitoring and review
- • Suitability and changing needs
- • WealthTech, cryptoassets and crowdfunding
Module 4: Liquidity and Funding
Apply and evaluate liquidity management for short- and long-term client funding requirements.
- • Cash-flow planning
- • Emergency and special-use liquidity
- • Portfolio liabilities and cash movement
Module 5: Financial Protection
Evaluate protection needs and apply suitable personal, family, trust, charity and business protection solutions.
- • Protection-needs analysis
- • Insurance products and taxation
- • State provision and under-protection
Module 6: Retirement-Planning Context
Evaluate the political, economic, legal, social, tax and regulatory factors affecting retirement planning.
- • Auto-enrolment and pensions regulation
- • Tax treatment and state provision
- • Defined-benefit and defined-contribution schemes
Module 7: Retirement Strategies
Evaluate accumulation, de-risking, decumulation and retirement-income strategies for client needs.
- • Accumulation and default funds
- • Income and lump-sum options
- • Longevity, sequencing and later-life risk
Module 8: Social Investment and Philanthropy
Explain and evaluate social-investment and philanthropic objectives within wealth management.
- • Social-investment risk and return
- • Sustainability disclosures
- • Philanthropic structures and measurement
Module 9: Personal Taxation and Investment Planning
Assess how UK and international personal taxation affects investment planning and decision-making.
- • Income tax, National Insurance and CGT
- • Inheritance and family tax planning
- • International taxation and reliefs
Module 10: Trusts, Beneficiaries and Family Offices
Identify and examine trust structures, beneficiary rights, trust taxation and family-office considerations.
- • Trust concepts and legal capacity
- • Income tax, CGT and IHT for trusts
- • Family-office benefits and limitations
Who Is This For?
Preparation centre
CISI Applied Wealth Management Exam Guides
Use these connected guides for the syllabus, exam format, booking and revision strategy.
Frequently Asked Questions
AWM is a three-hour, 100-mark narrative examination. Section A requires four five-mark answers selected from six, Section B contains two compulsory 20-mark questions, and Section C is a compulsory 40-mark case-study section.
No. Applied Wealth Management is the final of three units. The qualification also includes Financial Markets and Portfolio Construction Theory, subject to the current CISI entry and completion rules.
Yes. The official syllabus states that candidates can be assessed on aspects of Financial Markets, Portfolio Construction Theory and Applied Wealth Management in the AWM examination.
The official workbook estimates approximately 200 hours, including workbook study, formal tuition where used and wider reading. It also stresses practical application and current awareness.
No. AWM is the Level 7 final unit in the Chartered Wealth Manager Qualification. Wealth Management Practice is a separate Level 4 paper in the Certificate in International Advanced Wealth Management.
Checkout is open while the latest learning content and written-answer practice bank are being completed. Purchasers see the current two-hour completion notice on their dashboard.
CISI Applied Wealth Management
Course Features
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