CISI Capital Markets

CISI Investment Management Level 4

Official CISI Accredited Training Partner

Structured preparation for the CISI Level 4 Investment Management unit, aligned to the current Version 4 syllabus and its six official examination elements.

320 Practice Questions Detailed Study Notes Realistic Mock Exams

Course syllabus information reviewed for 2026. Always check the awarding body’s latest official syllabus and candidate updates before booking or sitting your exam.

Exactly what is included

5 mock exams × 80 questions · 320 unique questions · 400 total question slots · unlimited retakes
Focus Learn · key areas, pitfalls, exam traps & key numbers
Flashcards · fun, fast and effective recall
Exam cheat sheet · key facts, rules and numbers by chapter
Audio Learning · every chapter in audio
AI Analyzer & Mentor · pinpoints your weak areas
Study Mode Exams · learn while you train
AI Chat trained specifically for this exam
Community-polished data, improved every day
Up-to-date, accuracy-checked content

AI Audio Summaries New

Listen to course modules on the go. Perfect for studying while driving or commuting.

🎧 Audio

* This is a chapter sample. All audio is available in the full version.

Prepare for the CISI Investment Management Level 4 unit

Investment Management is one of the two units required for the CISI Level 4 Certificate in Investment Management. It moves from the structure of the investment-management industry and client portfolio planning into valuation, securities analysis, collective investments and quantitative data analysis.

This course page follows the current Version 4 syllabus and maps every one of the 80 examination questions to the six official elements. Securities Valuation carries the largest weighting at 26.25%, while the remaining elements build the industry, portfolio, valuation, alternative-investment and analytical knowledge needed for the assessment.

Key Benefits

Five exam simulations

Practise the official 80-question weighting across four unique papers and a final mixed test.

✓ 400 practice slots
✓ 120-minute timing
✓ Securities Valuation priority

Portfolio and valuation coverage

Connect client objectives and portfolio construction with company accounts, asset valuation and product selection.

✓ Client portfolios
✓ Company analysis
✓ Security valuation

Calculation and recall tools

Review formulas, numerical distinctions and frequent traps with flashcards, revision references and course-grounded support.

✓ Return calculations
✓ Risk-adjusted measures
✓ Statistical analysis

Syllabus

Module 1: Investment Management Industry 17.5% syllabus weight

🎧 Audio

Investment strategies, institutional activities, ancillary services, theory, investment styles and market value drivers.

• Strategy and industry activities
• Investment services
• Theory, styles and value drivers

Module 2: Managing Client Portfolios 12.5% syllabus weight

Client objectives, risk profiling, investment policy, asset allocation and portfolio monitoring.

• Client objectives and constraints
• Risk tolerance
• Asset allocation and review

Module 3: Valuation 16.25% syllabus weight

Company accounts, ESG factors, financial ratios, working capital and fundamental analysis.

• Financial statements
• Ratio analysis
• ESG and forecasting

Module 4: Securities Valuation 26.25% syllabus weight

Analysis and valuation of equities, fixed income, corporate actions, hybrids, derivatives and swaps.

• Equity valuation
• Bond valuation and yields
• Derivatives and swaps

Module 5: Collectives and Other Investments 13.75% syllabus weight

Collective and exchange-traded products, structured products, alternatives, property, currencies, commodities and infrastructure.

• Collective investments
• Structured and responsible products
• Property and alternatives

Module 6: Data Analysis 13.75% syllabus weight

Data sources, statistics, regression, AI, technical analysis, returns, benchmarking and risk-adjusted performance.

• Data and statistical analysis
• Return measurement
• Benchmarks and performance ratios

Frequently Asked Questions

The Investment Management unit is assessed by 80 multiple-choice questions in 120 minutes.

Yes. The course follows the latest official syllabus checked for 2026–27 sittings and includes the current CISI candidate correction. Always confirm the latest official syllabus and candidate updates for your exam date.

Not by itself. The full certificate requires both Investment Management and UK Regulation & Professional Integrity.

Securities Valuation has the largest allocation at 21 of 80 questions. All six elements remain examinable and are included in the map above.

You receive five 80-question mock exams, 80 flashcards, 92 searchable revision references, six detailed summaries and a course-grounded AI tutor.

Yes! Test your knowledge and review detailed explanations with the free CISI Investment Management Level 4 Mock Exam Preview below. It contains 15 exam-style questions from one named syllabus topic; the full course provides complete mock exams and syllabus coverage.

Interactive preview

Free CISI Investment Management Level 4 Practice Questions & Exam Preview

Try 15 CISI Investment Management Level 4 practice questions from 4. Securities Valuation

Practice CISI Investment Management Level 4 exam questions with answers and explanations. The full course includes 5 mock exams and complete syllabus coverage.

Exam Preview

4. Securities Valuation

Question 1 of 15

What is the ordinary shareholder's position on liquidation?

1 / 15

Flashcards

Card 1 of 101. Investment Management Industry

Question

Which process begins with economies and sectors before selecting securities?

Tap to reveal answer

Focus Learn

Key Examinable Areas5

Investment strategy and activities
Ancillary services and securities financing
Investment theory and styles
Responsible investment
Macroeconomic and information value drivers

Common Pitfalls to Avoid3

Exam Traps3

Key Numbers2

Chapter 1: Investment Management Industry

Investment management starts with a repeatable decision process. A top-down investor assesses the economic cycle, countries, currencies and sectors before selecting securities; a bottom-up investor begins with individual issuers and may accept the portfolio exposures that result. Passive management seeks to reproduce a benchmark, while active management deliberately differs from it to seek excess return or an absolute objective. Full replication holds every constituent in index weight. Sampling instead matches important characteristics and is often necessary for broad bond indices containing many illiquid issues. Tracking difference is the portfolio return minus benchmark return; tracking error describes the variability of that difference. Fees, trading, cash, tax, sampling and index rebal…

Unlock all Focus Learn

Open every chapter’s key areas, pitfalls, exam traps and key numbers.

Adaptive study tools

Focus weak topics, learn with feedback, then switch to exam conditions.

Practice modes

Learn first. Then prove you’re ready.

Learn with feedback, then switch to exam conditions.

Study Mode

Instant feedback & explanations

See the answer and explanation after each choice.

Exam Mode

Realistic exam simulation

Use the timer, keep answers hidden, then review your result.

Who Is This For?

✓ Candidates working toward the CISI Certificate in Investment Management

✓ Investment analysts, portfolio-support professionals and wealth-management staff

✓ Practitioners who need Level 4 knowledge of valuation and portfolio management