CISI Diploma

Paper Information

The CISI Diploma is split into 9 different papers, of which BPP teach towards 8 - offering you more choice than any other UK training provider. You must study and pass exams for three of these papers to complete the CISI Diploma qualification. The papers available for you to study towards with us are as follows:

• Bond and Fixed Interest Markets
• Financial Derivatives
• Fund Management
• Global Operations Management
• Interpretation of Financial Statements
• Investment Analysis
• Private Client Investment Advice and Management (PCIAM)
• Regulation and Compliance
  
  
• Bond and Fixed Interest Markets
  This paper aims to ensure you are qualified to conduct business either as an Agent or as a Principal in Government Bonds and other fixed interest securities in the UK.
  
  

• Financial Derivatives
  This paper enables you to have a detailed understanding of the special characteristics of derivatives, including forwards, futures, swaps, options and others, and their relationship to the underlying cash securities. It also enables you to use these instruments to address a wide range of trading and investment objectives, and to understand and be able to control the risks of financial derivatives and derivatives portfolios. The emphasis is on options and financial derivatives traded in the UK.
  

• Fund Management
  This paper enables you to gain a broad understanding of the theory and practice of institutional investment so that you are equipped to undertake the management of funds for institutional clients. You should ensure that you are up-to-date in your knowledge and have an understanding of topical issues.
  

• Global Operations Management
  This paper provides you with an understanding of operations and settlement procedures, from a management perspective. You will learn how to effectively service the operational and settlement needs of a firm and its clients.
  

• Interpretation of Financial Statements
  This paper ensures you can use company financial information to effectively assess the securities issued by companies. Although it assesses your analytical and interpretative skills rather than your technical accounting ability, it is expected that you will have an understanding of standard accounting practices and an awareness of matters currently under discussion. Interpretation of Financial Statements also acts as an exemption to the first module of the new CISI Masters in Wealth Management qualification.
  

• Investment Analysis
  This paper enables you to evaluate, describe and make recommendations on equity investments, for both private and institutional investors, within the context of other investment vehicles. Whilst the emphasis is on the UK market, a knowledge of major developments in the overseas markets is required. The investment and economic environment is constantly changing so you should ensure that you are aware of the latest developments. An understanding of company accounts is also necessary for this paper. We therefore recommend that if you intend to sit this and the Interpretation of Financial Statements (IFS) paper, IFS should be attempted first. Investment Analysis also acts as an exemption to the first module of the new CISI Masters in Wealth Management qualification.
  

• Private Client Investment Advice & Management (PCIAM)
  PCIAM exam has been approved as the Certificate in Private Client Investment Advice & Management by the Office of the Qualifications and Examinations Regulator (Ofqual) as a standalone level 6 qualification. PCIAM meets the step-change requirements to Ofqual QCF benchmark level 4 as proposed in the Financial Services Authority (FSA)’s RDR Consultation Paper.The Certificate covers the four core areas required by the FSA which are: regulation and ethics; investment principles and risk; taxation; and planning. The FSA have stated that those who hold a qualification at current Level 4 or above, such as PCIAM, will be able to bridge any gaps between the current and the new standards through appropriate continuing professional development.
  

• Regulation & Compliance
  This paper tests your understanding of the regulatory framework of the financial services industry and of the legal and ethical constraints on the activities of participants in the industry. You should have an understanding of the underlying principles and policy considerations as well as a knowledge of the practical application of the regulatory system. Although no specific prior knowledge is required, the regulatory environment is in the midst of significant change so you need to ensure your knowledge is up-to-date. You should read the financial press and material published by the regulator and keep yourself informed of current regulatory and disciplinary issues.