Version 4 preparation for Paper 1 of the CISI Certificate in International Advanced Wealth Management, covering economics, asset classes, markets and custody.
Course syllabus information reviewed for 2026. Always check the awarding body’s latest official syllabus and candidate updates before booking or sitting your exam.
Economics and Markets for Wealth Management is Paper 1 of the Level 4 Certificate in International Advanced Wealth Management. It establishes the economic and market knowledge needed to assess cash, currencies, bonds, equities, property, alternatives and derivatives in an international wealth-management setting.
This page maps the current Version 4 syllabus across all eight official elements and all 80 examination questions. Fixed-Income Securities has the largest single allocation at 20%, followed by Real Estate and Alternative Investments at 16.25% and Equities at 15%.
| Assessment | Multiple-choice examination |
| Duration | 120 Minutes |
| Standard Pass Mark | 70% |
| Level | CISI Level 4 |
| Total Qualification Time | 140 hours |
Link macroeconomics, monetary policy and financial-sector structure to client portfolio decisions.
Build an exam-focused understanding of fixed income, equities, property, alternatives and derivatives.
Use the exact 80-question distribution to identify high-weight and supporting elements.
The purpose, participants, services, regulation and professional context of wealth management.
Growth, inflation, employment, policy, economic cycles and the international environment affecting investments.
Cash instruments, short-term markets, interest rates, currencies and foreign-exchange risk.
Bond structures, pricing, yields, credit, duration, risks and the role of fixed income in portfolios.
Equity characteristics, markets, company analysis, valuation, returns and risks.
Direct and indirect property, commodities, private markets, hedge funds and other alternatives.
Forwards, futures, options, swaps and their uses in investment and risk management.
Trade settlement, custody, ownership records, corporate actions and operational risks.
Paper 1 is assessed by 80 multiple-choice questions in 120 minutes.
The syllabus map follows Version 4, applicable to examinations from 21 December 2025 to 20 December 2027, subject to any later official CISI update.
No. The certificate requires both Economics and Markets for Wealth Management (Paper 1) and Wealth Management Practice (Paper 2).
Fixed-Income Securities carries 16 of 80 questions, Real Estate and Alternative Investments carries 13, and Equities carries 12. Every element remains examinable.
Checkout is open while the latest Version 4 learning content and question bank are being completed. Purchasers see the current two-hour completion notice on their dashboard.
No. For UK regulated activities, the firm must map the role to the FCA Training and Competence sourcebook and its appropriate-qualification tables. A CISI course title alone does not establish authorisation for every activity. Confirm the requirement with the employer and regulator before booking.
Use the official CISI booking flow to check remote-invigilation or test-centre availability for CISI Economics and Markets for Wealth Management. Confirm the current workbook edition and read Candidate Updates before booking.
Exams Academy checkout is displayed in US dollars and the card provider converts it to GBP. The official CISI exam and required workbook are booked and paid for separately at the current CISI price.
🇬🇧 Local market guide
Review how CISI Economics and Markets for Wealth Management connects to regulation, qualification pathways, booking, currency and careers in the United Kingdom before paying the official exam fee.
For UK regulated activities, the firm must map the role to the FCA Training and Competence sourcebook and its appropriate-qualification tables. A CISI course title alone does not establish authorisation for every activity.
Financial Conduct AuthorityUse the official CISI booking flow to check remote-invigilation or test-centre availability for CISI Economics and Markets for Wealth Management. Confirm the current workbook edition and read Candidate Updates before booking.
Find a CISI test centreICWIM knowledge is relevant to international private banking, client services, wealth operations and entry-level investment-support roles. Regulated UK advice roles may require a different or higher-level qualification.
Exams Academy checkout is displayed in US dollars and the card provider converts it to GBP. The official CISI exam and required workbook are booked and paid for separately at the current CISI price.
Market-specific reading
Review the official format, syllabus and study plan.
Compare ICWIM's international foundation with a UK role-focused progression route.
Explore UK-specific wealth-management context beyond the global ICWIM syllabus.
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