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CISI Investment Advice Diploma
CISI Investment, Risk and Taxation Exam Preparation (UK)
Structured preparation for the CISI Level 4 Investment, Risk and Taxation unit, aligned to Version 16 and the current Candidate Update for exams through 30 November 2026.
400 Practice Questions Detailed Study Notes Realistic mock exams
Course syllabus information reviewed for 2026. Always check the awarding body’s latest official syllabus and candidate updates before booking or sitting your exam.
Exactly what is included
- 400 practice questions across 5 mock exams · unlimited retakes
- Focus Learn · key areas, pitfalls, exam traps & key numbers
- Flashcards · fun, fast and effective recall
- Formulas, worked calculations and dated tax references
- Audio Learning · every chapter in audio
- AI Analyzer & Mentor · pinpoints your weak areas
- Study Mode Exams · learn while you train
- AI Chat trained specifically for this exam
- Study material organised by syllabus
AI Audio Summaries New
Listen to course modules on the go. Perfect for studying while driving or commuting.
🎧 Audio
* This is a chapter sample. All audio is available in the full version.
Syllabus
Module 1: Asset Classes 16.25% syllabus weight
🎧 Audio
Cash, fixed-income securities, equities, property and alternative assets, including their characteristics, valuation, risks and returns.
- • Cash and fixed income
- • Equities and property
- • Alternative assets
Module 2: Fundamental Analysis 7.5% syllabus weight
Company accounts and valuation, economic concepts, macroeconomic indicators, policy and the influences on asset classes.
- • Company analysis
- • Economic indicators
- • Fiscal and monetary policy
Module 3: Principles of Investment Risk and Return 11.25% syllabus weight
Time value of money, return measurement, investment risk, portfolio theory, behavioural finance and statistical analysis.
- • Time value and returns
- • Risk and portfolio theory
- • Statistics and behavioural finance
Module 4: Taxation of Investors and Investments 20% syllabus weight
UK income tax, investment income, NICs, CGT, IHT, residence, stamp taxes, VAT, corporation tax, compliance and planning.
- • Personal and trust taxation
- • CGT and IHT
- • Investment tax planning
Module 5: Investment Products 16.25% syllabus weight
Collective and closed-ended investments, wrappers, insurance bonds, private markets, derivatives, structured products and pensions.
- • Funds and tax wrappers
- • Derivatives and structured products
- • Pensions and private markets
Module 6: Portfolio Construction and Planning 6.25% syllabus weight
Asset allocation, diversification, investment theory, product selection, research, charges and management styles.
- • Asset allocation
- • Diversification
- • Investment selection
Module 7: The Process of Giving Investment Advice 16.25% syllabus weight
Client information, needs, objectives, capacity for loss, risk profiling, suitability, recommendations, disclosure and implementation.
- • Fact finding and objectives
- • Risk and suitability
- • Recommendations and implementation
Module 8: Portfolio Performance and Review 6.25% syllabus weight
Performance measurement, attribution, benchmarks, appraisal, rebalancing and ongoing client and portfolio review.
- • Performance measurement
- • Attribution and appraisal
- • Review and rebalancing
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Interactive preview
Free CISI Investment, Risk and Taxation Practice Questions & Exam Preview
Try 15 CISI Investment, Risk and Taxation practice questions from Chapter 4: Taxation of Investors and Investments
Practice CISI Investment, Risk and Taxation exam questions with answers and explanations. The full course includes 5 mock exams and chapter study tools.
Exam Preview
Chapter 4: Taxation of Investors and Investments
For 2025/26, how is the standard personal allowance reduced above £100,000 adjusted net income?
1 / 15
Flashcards
Card 1 of 10Number Recall
Question
What is the official scored-paper pass boundary?
Tap to reveal answer
Focus Learn
- 1.1.1: Choosing a deposit
- 1.1.2: Cash is not free of risk
- 1.1.3: Money-market fund structures
- 1.1.4: Peer-to-peer lending
- 1.1.5: Selecting a cash holding
- 1.2.1: Reading foreign-exchange markets
- 1.3.1: Who issues bonds?
- 1.3.2: Bond return and duration
- 1.3.3: Bond structures
- 1.3.4: Bond dealing and settlement
Chapter 1: Asset Classes
Start with the economic claim you own: a deposit, debt claim, residual equity interest, physical asset or contractual exposure. Compare the source of income, potential capital change, liquidity, counterparty and market risks. An asset's name alone does not establish protection or suitability. The sections below distinguish the major asset classes and connect valuation methods to their assumptions.
Choosing a deposit
A current account serves payments; instant-access savings prioritise availability. A notice account requires advance notice or a stated penalty, while a fixed-term deposit commits money for an agreed term under its rate terms. Money-market deposits have specified dealing sizes and maturity terms. NS&I products have their own access, eligibility and tax rules and Treasury b…
Unlock all Focus Learn
Open every chapter’s key areas, pitfalls, exam traps and key numbers.
Adaptive study tools
Focus weak topics, learn with feedback, then switch to exam conditions.
Practice modes
Learn first. Then prove you’re ready.
Learn with feedback, then switch to exam conditions.
Exam Mode
Realistic exam simulation
Use the timer, keep answers hidden, then review your result.
Preparation Package at a Glance
| Feature | Exams Academy | Details |
|---|---|---|
| Access Period | Lifetime Access | One-time enrollment with no recurring fee |
| Practice Exams | Unlimited Retakes | |
| Study Support | Instant 24/7 AI Tutor | Self-service AI support; live instructor support is not included |
| Cost | $151 (One-Time) | One-time payment with no recurring subscription |
Frequently Asked Questions
The Level 4 assessment contains 80 scored multiple-choice questions, lasts 120 minutes and has a 70% pass mark: 56 correct answers. Unidentified trial questions can add proportionate time.
The page follows Version 16 and the current CISI Candidate Update. The update extends the final exam date for this version to 30 November 2026.
Not by itself. The IAD requires this unit, UK Regulation and Professional Integrity, and one technical unit: Securities, Derivatives, or Financial Planning and Advice.
Yes. CISI also uses Investment, Risk and Taxation with Financial Planning and Advice in the Certificate in Paraplanning.
Taxation of Investors and Investments carries 16 of 80 questions. Asset Classes, Investment Products and the Process of Giving Investment Advice each carry 13.
Eight detailed chapter summaries, 245 recall and formula cards, 223 searchable references including 70 worked calculations, a syllabus-grounded AI tutor and five full 80-question papers. The five papers include 400 practice questions. Eight English chapter revision summaries are available in male and female voices.
Always confirm the latest official CISI syllabus and Candidate Updates for your 2026 sitting. This page records Version 16 and the applicable update verified on 19 September 2026.
Yes! Test your knowledge and review detailed explanations with the free CISI Investment, Risk and Taxation Mock Exam Preview below. It contains 15 exam-style questions from one named topic; the full course provides complete mock exams and syllabus coverage.
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 Investment, Risk and Taxation. 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.
Key Benefits
Core IAD preparation
Understand exactly where this unit fits within the Investment Advice Diploma and related CISI qualification routes.
- ✓ IAD core unit
- ✓ Certificate in Paraplanning unit
- ✓ Level 4 assessment
Official weighting plan
Prioritise all 80 questions using the eight published syllabus elements and their exact weightings.
- ✓ Taxation: 16 questions
- ✓ Asset Classes: 13 questions
- ✓ Advice Process: 13 questions
Current corrected scope
Prepare against Version 16 with the applicable 2026 formula, tax, options, product and portfolio updates.
- ✓ June 2026 Candidate Update
- ✓ Extended exam window
- ✓ All eight elements
Exam Format & Details
| Assessment | Multiple-choice examination |
| Duration | 120 Minutes |
| Passing Score | 70 |
| Level | CISI Level 4 |
| Total Qualification Time | 140 hours |
Prepare for CISI Investment, Risk and Taxation
Investment, Risk and Taxation is one of the two core Level 4 units in the CISI Investment Advice Diploma. Candidates combine it with UK Regulation and Professional Integrity and one technical unit: Securities, Derivatives, or Financial Planning and Advice. The same unit also combines with Financial Planning and Advice in the CISI Certificate in Paraplanning.
The syllabus moves from asset classes and fundamental analysis through investment risk, UK taxation, investment products, portfolio construction, the advice process and portfolio review. The course follows Version 16, maps all 80 questions across the eight official elements and incorporates the CISI Candidate Update posted in June 2026, including its extended final exam date of 30 November 2026.
Study all 140 granular objectives with eight detailed chapters, 245 recall and formula cards, and 223 searchable references including 70 worked calculations. Four original 80-question mocks progress from foundations to final practice; a fifth paper mixes 20 questions from each. Tax exercises state 2025/26 explicitly, while dated updates distinguish later rule changes.
Who Is This For?
✓ Candidates completing the two core units of the CISI Investment Advice Diploma
✓ Candidates combining this unit with Financial Planning and Advice for the Certificate in Paraplanning
✓ Investment advisers, paraplanners, portfolio professionals and wealth-management staff
✓ Practitioners who need Level 4 knowledge of investments, risk, UK taxation and suitability
Preparation centre
CISI Investment, Risk and Taxation Exam Guides
Use these connected guides for the syllabus, exam format, booking and revision strategy.
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CISI Investment, Risk and Taxation
Course Features
🇬🇧 Local market guide
CISI Investment, Risk and Taxation in the United Kingdom: pathway, booking and careers
Review how CISI Investment, Risk and Taxation connects to regulation, qualification pathways, booking, currency and careers in the United Kingdom before paying the official exam fee.
Regulator and qualification pathway
Investment, Risk and Taxation is one of the two Level 4 core units in the CISI Investment Advice Diploma. To complete the IAD, combine it with UK Regulation and Professional Integrity and one technical unit: Securities, Derivatives, or Financial Planning and Advice. The same unit also combines with Financial Planning and Advice in the Certificate in Paraplanning.
Financial Conduct AuthorityBooking and official examination
Use the official CISI booking flow to check remote-invigilation or test-centre availability for CISI Investment, Risk and Taxation. Confirm the current workbook edition and read Candidate Updates before booking.
Find a CISI test centreCareer and employer context
This unit supports the technical knowledge used in investment advice, paraplanning and portfolio work across asset classes, risk, taxation and suitability. It is part of wider qualifications, not a standalone licence for every regulated activity; the employer and FCA Training and Competence tables determine the requirements for each role.
Price and currency
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
Understand the pathway before booking
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