What is the Level 4 Diploma?

The CII Level 4 Diploma in Regulated Financial Planning is a qualification that develops and assesses the FCA’s required technical knowledge and skills for advising on retail investments. You will need to complete the following six units.

(R01) Financial services, regulation and ethics
(R02) Investment principles and risk
(R03) Personal taxation
(R04) Pensions and retirement planning
(R05) Financial protection
(R06) Financial planning practice

The CII route is a good base qualification to start with.  The fact that it is modular allows you to take each exam in the order that you feel best suits your strengths and current knowledge.

Which one should I sit first?

We suggest that you start with the subject you can most relate to.  So if you work for a company where you are heavily involved in pensions, for example, you will probably find it easier to start with R04 as this is what you are most familiar with.
Each of the subjects present different challenges. For example with R01, it has a wide syllabus so there is a lot to remember and retain! However by cracking on with R01 first this gives you a great foundation for the other exams to follow.  R05 has the highest pass rate, no multiple choice questions and anyone with some industry experience will already be familiar with a proportion of the key content.  R02 has a high proportion of the harder multiple response questions. R04 requires you to know your pensions stuff – 50 questions in total and at least 11 of them could be multiple choice. R03 seems to present the ‘time’ issue – you need to manage your time effectively in the exam so you don’t miss out on marks.  Some exam combinations work well together. For example, R02 and R03 both require knowledge of direct and indirect investments. R06 is only sat four times a year so timing is a constraint.  R06 is a written exam based on case studies so it is more a test of technique rather than knowledge.

Is it suitable for me?

Are you a paraplanner, do you work in a financial planning support role or are you seeking a career change?  Then yes, absolutely this is the qualification for you.

What is the current pass rate?

You do not have to pass all the questions to achieve an overall pass grade, you simply have to gain enough marks in total to reach the pass mark.  For R01 to R05 you need to achieve 65% of the 100 multiple choice questions – so a total of 65 marks in order to pass.  With R06 you need to achieve 55% of the 150 marks available – so a total of 82 marks needed to pass this exam.  The current pass rates are listed below:

Diploma in Regulated Financial Planning: R01 R02 R03 R04 R06 R06

Exam 2019 2018 2017 2016 2015 2014 2013 2012
R01 64% 64% 64% 57% 59% 59% 59% 62%
R02 60% 60% 63% 58% 54% 56% 55% 53%
R03 56% 53% 49% 50% 51% 55% 51% 52%
R04 58% 58% 55% 54% 50% 54% 58% 61%
R05 78% 76% 78% 72% 67% 69% 74% 80%
R06 67% 78% 73% 73% 71% 68% 68% 72%

Source: [CII Website]

How can we help?

The CII began testing the 2020-2021 tax year and the new RO syllabus from the 1st September.  We have updated all our materials and this includes updated study notes, updated quizzes and video tutorials.

We are constantly reviewing our courses and the support we provide and as part of that we have designed a new mini mock exam which has been added to our courses (R01 to R05). The questions have been created in the same style as to what you can expect in your exam and it is all about concentrating on the technique AND then the application of your knowledge.  That’s why we felt it was important to include these  so you know you know what clues to look for in the questions and how to test your knowledge and gain the maximum marks available.  These exams style questions compliment the study package and allow you to really get a ‘feel’ for what the examiner is looking for and what to expect when it comes to exam day.

In today’s ultra-competitive work environment, we want our students to learn in the most effective and efficient manner possible with emphasis on process, performance and practice as the key to success.   So if you want to super charge your learning and smash your way through this level 4 diploma then click below to view our courses and let’s get you started on your exam goal journey:

Click here for R01
Click here for R02
Click here for R03
Click here for R04
Click here for R05
Click here for R06