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Last Updated: Sep 21, 2026

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CISI ICWIM Practice Q&A's

ICWIM PDF
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CISI ICWIM Exam Syllabus Topics:

SectionWeightObjectives
Regulation and Ethics15%- Regulatory framework
  • 1. Investor protection
  • 2. Financial regulation principles
  • 3. Compliance requirements
- Ethical conduct
  • 1. Conflict of interest
  • 2. Professional responsibilities
  • 3. CISI Code of Ethics
Risk and Return20%- Risk concepts
  • 1. Risk measurement
  • 2. Risk diversification
  • 3. Types of investment risk
- Portfolio theory
  • 1. Asset allocation principles
  • 2. Risk-return profiling
  • 3. Modern portfolio theory
Market Environment20%- Economic environment
  • 1. Business cycles
  • 2. Macroeconomic factors affecting investments
  • 3. Interest rates and inflation
- Role and function of financial markets
  • 1. Types of financial markets and their roles
  • 2. Market indices and benchmarks
  • 3. Market participants and intermediaries
Financial Products20%- Bonds and fixed income
  • 1. Bond types and characteristics
  • 2. Credit risk
  • 3. Yield and price relationships
- Equities and shares
  • 1. Valuation methods
  • 2. Dividends and total return
  • 3. Types of equity
- Collective investments
  • 1. Fund selection criteria
  • 2. Funds and structured products
  • 3. ETFs and index trackers
Client Advisory25%- Client needs analysis
  • 1. Time horizons
  • 2. Risk profiling and suitability
  • 3. Investment objectives
- Portfolio construction
  • 1. Portfolio review and rebalancing
  • 2. Asset allocation strategies
  • 3. Performance measurement

CISI International Certificate in Wealth & Investment Management Sample Questions:

Question #1

An investor with a relatively small amount to invest has chosen to use a collective investment scheme CIS.
This is because:

  • A. A CIS is a cheap way of achieving diversification
  • B. The investor has no requirement for liquidity
  • C. Investment managers will not deal with investors with small amounts of money
  • D. The investor requires tax free returns
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #2

What is the standard settlement period in spot currency markets?

  • A. T+2
  • B. T+1
  • C. T+4
  • D. T+3
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #3

Which of the following underlies the pillars of risk tolerance?

  • A. Psychological traits
  • B. Sociological traits
  • C. Education
  • D. Experience
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #4

An economy with two consecutive quarters of negative growth is considered to be in what phase of an economic cycle?

  • A. Slump
  • B. Recession
  • C. Depression
  • D. Inflationary
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #5

When an investment manager manages and makes changes to a portfolio without referring to the client, this is known as:

  • A. Execution-only
  • B. Financial planning
  • C. Discretionary
  • D. Advisory dealing
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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