As part of our pledge to encourage more women to consider a career in financial services we are currently sponsoring Hannah Semple through her Level 4 Diploma journey. She will be sharing her highs, lows and lessons learnt of what it is REALLY like to sit these Level 4 exams. So join Hannah as she shares with us her personal experience of the ‘dreaded’ R01 exam.
How it all started
After I graduated in 2018, my plan was to gain some insight into the financial services industry before going travelling and then coming back to Scotland to start my career. I have been working as a pensions administrator for just over two years now as my plans to travel were put on hold due to the pandemic.
As it may still be a few months before I am able to travel, I thought it would be best to use the free time I have now to start the Level 4 Diploma. I am hoping by doing this, I will be giving myself a slight head start when I start a new role. I decided to use Expert Pensions alongside the study material provided by CII as I want to try and sit some of the exams of the Diploma before I travel and believe their additional support and guidance would help me achieve this.
[Top Tip : Set a goal. Set the exam date as this creates commitment AND a routine. You should be thinking about how to get better at time management and organising your diary so you can strike the right balance between home, work, studies and a social life!]
Understanding and Technique
I opted (with the help of Expert Pensions) to start with R01 as I covered some of the content within this exam during university and within my current role. I must admit, I found R01 quite dry and there was lots to remember, however, my studying became more enjoyable after finishing the textbook as everything came together and made my revision easier.
[Top Tip : It can be difficult for learners to cut through the clutter so that’s why we do this for you – think of us as your very own decluttering service. We provide everything you need in order to pass]
I loved learning about ethics in university, so really enjoyed going through the ethical dilemmas in Chapter 11. I think this is such an important subject to have an awareness and understanding of. Nearer my exam I began reading through news articles of companies breaching FCA principles as it was interesting to see content from R01 applied in real life.
[Top Tip : Relate your studies to things that are current, relevant and meaningful to you – bring them to life]
There wasn’t really a part of R01 that I didn’t particularly enjoy, but the hardest part was trying to engage with the content of the book in the first few weeks of studying. Expert Pensions have a great variety of study material- you read and write (the study notes), you watch (the videos) and you do (the quizzes).
I decided to do two chapters of the book per week, then gave myself two weeks before the exam to go over everything. I worked by reading a chapter, writing out the essential study notes provided by Expert Pensions for that chapter and then taking their quiz. Having the quizzes after each unit really helped me confirm my knowledge and highlighted any areas of weakness where I had to go back and read more.
Mix it up
The videos were definitely what I found most useful. They were a great way to break up the reading and explained parts of the material that were particularly difficult in a way that was fun and easy to understand. I have to give a special mention to the video on the FCAs principles- using an acronym to remember these is something I could have never thought of myself but I will never forget now and it definitely helped me remember them!
[Top Tip : Content chunking is the strategy of breaking up content into shorter, bite-size pieces that are more manageable and easier to remember. We do this by breaking up the syllabus into smaller, concise chapters. Breaking up the monotony of studying with online quizzes, interactive forum support and video tutorials]
Understanding WHAT the Examiner is asking you
I was warned before taking the exam that the way the CII word their questions can be confusing and that was certainly right. The CII provide some practice questions with your enrollment into the exam however these are not exam style. The quizzes and mock exam questions provided by Expert Pensions were certainly formatted similarly to the style of the exam which helped me approach the questions in my exam with more confidence.
[Top Tip : In every examiner’s guide, you will find very useful information directly from the examiner. It will include examiners’ observations and feedback and common mistakes made by the candidates. By familiarising yourself with these guides it will help you to avoid making the same mistakes!]
Conclusion
For me, R01 was more about remembering (and there was a lot to remember!) than understanding, as thankfully there was nothing too technical to try and get your head round. I didn’t use the forum as much as I should have for this exam, but I imagine it will definitely be valuable when it comes to R02!
[Top Tip : We invite you to engage on our forum : Our forum is well-coordinated and is a valuable tool to promote reflection on learning, share information and perspectives, and connect students. It’s a great mentoring resource which allows you to ask questions, clarify any ‘grey’ areas and engage with study buddies who are going through the same exams as yourself].Join us
If you want to join Hannah or indeed our other Level 4 Diploma students on their journey then why not sign up now. It’s time to book that exam you keep putting off because the feeling of ticking that off your list may give you and your career the boost you have been looking for.
