With a CII exam – be it an R0 or AF exam – you’ll need to retain a wide range of information. Despite numerous tips and techniques that can help study to be more effective, most people find studying for any exam to be hard work. But if you just had to pick just one tip that will make the biggest difference, what would it be?
We’re happy for you to disagree. Using past exam papers runs it pretty close. But here’s what gets our vote.
I’ll start with an exercise that should make this point. Here are 20 different numbers between 1 and 75. I’ll ask you to look at these for 30 seconds, turn away, and see how many numbers in sequence you can remember. Here they are:
5, 18, 3, 9, 44, 11, 16, 36, 31, 72, 24, 9, 32, 41, 4, 59, 1, 63, 25, 71
How did you do? People tend to remember around six numbers in the correct sequence – typically the first three and the last three. You might have remembered slightly more or slightly less than this. Usually it will be the numbers at the beginning and the end of the list that you’ll remember. So why is this so important?
What you’ve just experienced is known as primacy and recency. When you take in any information, you tend to remember the bits at the beginning and the end. The bit in the middle becomes a blur or gets forgotten. And this is something that we all do. So if you are studying for an R0 or AF exam, how can you use this?
At the Patterson Group, we believe that exam success is about working smarter, not harder. And that is why this principle is so important when you revise. Let me explain. Many people tend to block out a prolonged period of time to revise, often close to the exam date. Most people will have done at least some ‘cramming’ in the past. But just how effective is it?
The following diagram looks at concentration levels and how these change with time.
The important thing to remember is that it’s not how much study you do, but how much information you retain as a result. If we apply primacy and recency to this, it suggests that a two hour block of revision is unlikely to be effective for many people. Like the exercise you’ve just done, you are likely to remember the beginning and the end, and not much in the middle. That’s great for the 15 minute periods at the start and end. It also means that much of the 1 ½ hours in between is wasted for most people.
Now, you might know people who are good at cramming. If so, they are either gifted, or they probably still break their revision into smaller chunks. In other words, it’s not a solid undiluted period of revision – but a two-hour period with a number of breaks built in. It’s these breaks that are important. We would recommend a 10 minute break every 20-30 minutes of study. And when we say break, it should be just that. Walk around, talk to people, listen to music – anything; but give your brain a break from your exam study.
Give yourself a proper break and give yourself regular breaks. How does this impact on your concentration levels? If we look at this as a diagram, it should look like this:
You are still benefiting from primacy and recency. By studying for shorter periods, you’ve managed to cram more beginnings and ends into the your study time. As a result, your overall level of concentration is that much higher and you will remember more. More learning and the same amount of study time. What’s not to like?
This is a comment we hear regularly. And nothing could be further from the truth. 20-30 minutes is probably the optimum period of time. You get high levels of concentration and better retention. Part of this is due to concentration levels being maintained. Part is also due to the fact that you will probably only focus on two or three core concepts in this period of time. The brain likes small chunks of information nearly as much as having short study periods.
We are the leading producer of audio exam material for the CII exams and we are convinced that small chunks are best. Our audio material allows you to learn, in small chunks, fitting it in around the rest of your life. Simple and effective.
Click on R0 material or AF material to see why over 6,000 people have bought this study material over the last year.
Click here to access our dedicated R0 exam technique and study hub.
Click here to access our dedicated AF exam technique and study hub.
Both of these unique sites include a free video on our top 5 revision tips and links to specific R0 or AF exams about how you can work smarter, rather than harder.
Preparation is the key.
Ian Patterson
Ex-examiner and author of the current CII study texts: CF8, J07 and AF6
So you want to pass the CII’s AF1 exam first time? The good news is that this is a very doable AF exam as long as you prepare in the right way. And the stats bear this out – of the three ‘technical’ AF exams (AF1, 4, 7), AF1 is the hardest with a pass rate of just 43% (the latest published results).
To see the full pass rates and how these have changed over the years, go to this page.
We all know that working through past exam papers is one of the best ways to prepare for the CII’s AF1 exam.
Tip: Don’t just skim through them, start off with a blank sheet of paper and complete at least two of them under exam conditions.
Tip: Start this process towards the beginning of your study, not at the end. Learn about the technical aspects and also about how the examiners’ expect you to set your answers and apply your knowledge. Sure, you’ll make lots of mistakes but view this as a way of learning, not to assess whether you are ready for the exam or not.
The really useful bit is that the AF1 exam does tend to cover similar areas from one exam to another, but not always. If we look at an example AF1 exam paper (April 2022), each of the three main personal taxes were covered (this is typical). In this paper, the marks were split between them approximately:
Note that this balance will vary between exams – as the last exam shows. Typically, these three areas are worth around 2/3rds of the total 160 marks available.
Around 26% of the marks were awarded in this exam for undertaking a calculation. This around the average of 20-25% of the total marks. You can normally expect at least one calculation question for each tax
Tip: To be successful with AF1, you’ll need to be comfortable with undertaking calculations, so practice doing these before the exam for the 3 key personal taxes. In particular, make sure you are comfortable with undertaking an income tax calculation which includes things like the treatment of a VCT, benefits in kind, and pension contributions.
Tip: Whenever you undertake a calculation in an AF1 exam, marks are awarded for demonstrating the correct process. So make sure that your calculation is laid out clearly. One way of doing this is to ‘label’ each step of the process. Believe it or not, you can get most of the marks in a calculation question if you do this even if you get the answer wrong.
I’ll mention the types of question that are used in AF1. In the April 2022 paper, the following instructions (or verbs) were used:
Note: The balance of these ‘instructions’ was broadly similar with previous recent exams.
Tip: In the AF1 exam, the instruction is the examiner telling you what to do. List or state does not need any amplification; a couple of words or short sentence will be fine.
Tip: Over two-thirds of this paper needed you to describe or explain. With this type of question, the examiner wants you to show what you know, and link this back to the information you have been given. A one or two word answer will not be enough to score well.
Past performance isn’t a guide to future performance. We know this just like we know that a technical exam like AF1 will test across the broad syllabus. Although some of the broad areas that will be tested can be predicted in advance, they will also test some more peripheral areas of the syllabus.
So in addition to the 3 personal taxes, these areas have also historically been frequently tested in AF1:
You know that you are going to have to put in some hard yards with AF1. The CII suggest 150 hours of study is required and unfortunately, many people will need approaching this amount of study. Which begs the question, what will this look like? These are all areas that I’ve looked at in other blogs so click onto them if these are of interest:
For study tips, click here
If you think that your revision technique can be improved, click here for our dedicated exam technique and revision hub.
Learn on the go. Our unique audio material gives you 6 hours of AF1 content that helps you to fit your learning in around the rest of your life. Click here for details.
Best wishes. Prepare well and past first time.
Ian Patterson
Ex-examiner and author of the CF8, J07 and AF6 CII study texts
If you are sitting exams on the road to CII Chartered status, one of the questions that we frequently get asked is ‘which CII exams should I sit next?’. Likewise, we also sometimes get asked about ‘what exams should I take to get CII Fellowship?’ Some exams could be considered for both. This is a big area – and it’s one that I’ve started to look at in two previous articles:
The road to CII chartered status is a long journey and that also means that many people want to select the subjects that help them to shorten this journey. So in this article, I’ll look at a few more ideas that will help you to decide.
In our article ‘which CII AF exams should I sit next?’, we looked at AF4 and the associated underpinning level 4 exams: R02 and J10. We also said that it is worth also considering J12 (Securitised advice and dealing). Taken together, all of these are worth a whopping 90 credits. The important point is that there is also a significant amount of overlap between each of them which makes revision for them that little bit less onerous.
Let me continue on a similar theme as there are also other investment-related subjects that you could also consider.
Individual savings account administration (FA5) is a level 3 exams that is worth 10 credits. It is a one hour long exam that has 50 multiple-choice questions. But this doesn’t mean that it can’t also be used to get credits towards Chartered and Fellowship.
In simple terms, the content of FA5 overlaps with much of the content of R02. ISAs (and their various reincarnations) are central to the financial planning process for many advisers.
Details of the syllabus for each can be found here.
Other options that are definitely worth looking at are Life and pensions customer operations (LP1) and Financial services products and solutions (LP2). These are worth 15 and 20 credits respectively and are again level 3 exams that test using multiple choice questions.
LP1 isn’t a technical paper. Instead it focuses on the fair treatment of customers, effective communication and teamwork. In contrast, LP2 looks at the basics of life and health insurance products, mortgages, the key asset classes and tax wrappers (investment bonds, ISAs and pensions). As this is level 3, these are all areas that are covered at a relatively basic level. Both of these could be the easiest 35 credits you’ll ever get!
Details for LP1, for example, can be found here.
The final combination I’ll look at is AF6 (senior management and supervision) and J07 (supervision in a regulated environment). If your current or future role might involve managing people (which is what J07 is all about) or managing a regulated firm (that’s what AF6 is about), then this combination also has some overlap. Both might provide a welcome break from the ‘technical’ subjects. AF6 is worth 30 credits at Level 6 so it can count towards the four AF subjects that are required to get to Chartered. J07 is worth another 20 credits. People sometimes think that J07 is just about regulation and training and competence; it’s not so don’t let that put you off particularly if you manage people.
We believe that the purpose of exams is to make people more knowledgeable and effective. Sensibly, people who are on the road to CII Chartered status would choose the exams that are most useful to both themselves, and their business. That said, it pays to know what your exam options are and how to use this knowledge to your benefit.
Remember, work smarter, not harder. Until the next time.
Ian Patterson
Ex-examiner and author of the current CII study texts: CF8, J07 and AF6
One of the questions that we frequently get asked is ‘which CII AF exam should I sit next?’. Oh, if only there was a simple answer!
We believe that the purpose of exams is to make people more knowledgeable so sensibly, people would choose the AF exam that is most useful to both themselves, and their business. The road to chartered is a long journey and that also means that many people want to select the subjects that help them to shorten this journey.
This is a big subject area so, in this blog, I’ll consider some of the main CII AF exam options. In two subsequent blogs, I’ll look at the options for the Certificate and Diploma subjects that are worth considering:
CII exams: getting to Chartered. To view it, click here
CII exams: getting to CII Chartered status (part 2). To view it, click here
To complete Chartered Status, the CII require a total of 290 exam credits. 120 of these must be from AF subjects which means that a minimum of four 30 credit Advanced Diploma subjects will have to be completed (if you don’t have existing credits from the previous AFPC or earlier exams). This must include AF5, as it is compulsory. The remaining credits can come from other Diploma or certificate level exams.
Click here for a link to the CII qualification guide.
Remember that there are two exam sittings per year of the written AF exams: in April and October. Coursework-based exams can be entered when you like during the year and you will then have 12 months to complete them.
You need at least four AF exams, but which ones are best for you? There’s the usual caveat about prioritising the ones that are most relevant to your work – and this might make your choice obvious. If not, here are the key questions to consider:
If so, you have two choices: Senior management and supervision (AF6) and Retirement income planning (AF8).
AF6 is aimed at people who run a regulated firm (or might do so in the future). With AF8, it might be called ‘Retirement income planning’ but don’t fall into the trap of thinking that it’s all about pensions. It’s more of a later life planning module that includes at-retirement pension options, tax and estate planning, and potentially care planning.
The benefit of doing coursework is that you will have a year to complete it. With some sensible planning, this shouldn’t prevent you from also sitting two or more written AF exams. With 3 exam sittings, this opens up a chance of you getting 4 x 30 exam credits within a year (three exam-based exams and one assignment-based exam). We never recommend trying to sit two written AF exams at the same sitting – this usually ends in tears. But completing a coursework option as well as a written AF exam is possible with hard work.
If this is how you want to select your AF exams, then the current traditional exam-based CII AF subjects can be ranked as follows (easiest first): AF5 (Financial planning process), AF7 (Pension transfers), AF4 (Investment planning), AF1 (Personal tax and trust planning). This is based on the latest published results. Please note that AF7 has traditionally been one of the harder exams and may be again in the future.
The pass rates for AF6 and AF8 tend to be higher (much so in the case of AF6). These appear artificially high as anyone who drops out once they have started is regarded as being ‘timed out’ rather than failing the subject. In other words, the pass rates are based on those that complete their 3 assignments. The assignments are not as easy as these pass marks might suggest.
Click here and scroll down to see the actual pass rates.
Yes. AF1 is the CII AF exam that underpins most of the other AF written exams so we believe this is a good subject to start with – even if it is the hardest AF exam. With suitable preparation, it’s also possible to prepare for the four key areas it covers and give you a decent chance of being successful.
Also, look to sit AF5 as soon as you can. It is examined 3 times a year and, because it’s based on a fact find that is issued 2 weeks before the exam, there isn’t too much preparation you are able to do before this 2 week period. It’s also a test of your financial planning skills so the depth of technical knowledge needed usually isn’t that great. What technical knowledge that is required can be mostly be identified from the client scenario that is provided.
The CII website (using the earlier link) is a good place to start. We produce free ‘preparation guides’ for AF1, 4, 5 and 7 which set out your study options, how to study, and the common areas that are tested in each exam. Click here to access them.
Until the next time,
Ian Patterson
Ex-examiner and author of the current CII study texts for CF8, J07 and AF6
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