CISI Wealth Management Practice Exam Preparation
Version 3 preparation for Paper 2 of the CISI Certificate in International Advanced Wealth Management, from securities analysis and tax to portfolio review.
Course syllabus information reviewed for 2026. Always check the awarding body’s latest official syllabus and candidate updates before booking or sitting your exam.
Prepare for CISI Wealth Management Practice
Wealth Management Practice is Paper 2 of the Level 4 Certificate in International Advanced Wealth Management. It applies investment knowledge to client circumstances through securities analysis, tax and estate structures, product selection, risk and return, portfolio construction, advice, recommendation and ongoing review.
This page maps the current Version 3 syllabus across all eight official elements and all 80 examination questions. Securities Analysis and Investment Selection and Recommendation are the two largest elements at 16.25% each, with the remaining questions distributed across the full client and portfolio-management process.
Exam Format & Details
| Assessment | Multiple-choice examination |
| Duration | 120 Minutes |
| Standard Pass Mark | 70% |
| Level | CISI Level 4 |
| Total Qualification Time | 140 hours |
Key Benefits
End-to-end advice process
Follow the client journey from objectives and risk through selection, recommendation and ongoing review.
- ✓ Client analysis
- ✓ Recommendation
- ✓ Review and maintenance
Portfolio decision skills
Connect securities analysis and investment products with construction, performance and risk controls.
- ✓ Security selection
- ✓ Portfolio construction
- ✓ Evaluation and risk
Tax and planning context
Understand how taxation, trusts and foundations influence international wealth-management decisions.
- ✓ Personal taxation
- ✓ Trust structures
- ✓ Foundations and estate planning
Syllabus
Module 1: Securities Analysis 16.25% syllabus weight
Economic, sector, company, equity and fixed-income analysis used to assess investment opportunities.
- • Economic and sector analysis
- • Company and equity analysis
- • Fixed-income analysis
Module 2: Taxation, Trusts and Foundations 12.5% syllabus weight
Tax principles, residence and domicile, trusts, foundations, estate planning and cross-border considerations.
- • Tax principles
- • Trusts and foundations
- • Estate and succession planning
Module 3: Investment Products 11.25% syllabus weight
Features, uses, risks and suitability considerations across the products available to wealth clients.
- • Direct investments
- • Collective investments
- • Structured and alternative products
Module 4: Principles of Investment Risk and Return 12.5% syllabus weight
Return measurement, risk types, diversification and the relationship between risk and expected return.
- • Risk measures
- • Return calculation
- • Diversification and correlation
Module 5: Portfolio Construction 12.5% syllabus weight
Objectives, constraints, asset allocation, optimisation, behavioural influences and portfolio implementation.
- • Investment policy
- • Asset allocation
- • Portfolio implementation
Module 6: Investment Advice 8.75% syllabus weight
The advice process, client information, objectives, risk capacity, suitability and professional communication.
- • Fact finding
- • Risk and suitability
- • Advice and disclosure
Module 7: Investment Selection and Recommendation 16.25% syllabus weight
Selecting investments, conducting due diligence and forming suitable, evidence-based recommendations.
- • Investment screening
- • Due diligence
- • Recommendation construction
Module 8: Portfolio Evaluation, Maintenance and Review 10% syllabus weight
Performance measurement, attribution, benchmarking, rebalancing and continuing client review.
- • Performance evaluation
- • Benchmarking and attribution
- • Rebalancing and review
Who Is This For?
Frequently Asked Questions
Paper 2 is assessed by 80 multiple-choice questions in 120 minutes.
The syllabus map follows Version 3, applicable to examinations from 2 March 2026 to 20 August 2027, subject to any later official CISI update.
Not by itself. The certificate requires both Wealth Management Practice (Paper 2) and Economics and Markets for Wealth Management (Paper 1).
Securities Analysis and Investment Selection and Recommendation each carry 13 of the 80 questions. All eight elements remain examinable.
Checkout is open while the latest Version 3 learning content and question bank are being completed. Purchasers see the current two-hour completion notice on their dashboard.
CISI Wealth Management Practice
Course Features
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