CISI Investment Operations Certificate

CISI Client Money and Assets

Name: CISI Client Money and Assets
Rating: 4.7 (2855 reviews)

Official CISI Accredited Training Partner

Structured preparation for the CISI Client Money and Assets exam, aligned to Version 7 for exams from 11 December 2025 to 10 December 2027.

250 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

250 practice questions across 5 mock exams · 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
Study material organised by syllabus

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 specialist CISI Client Money and Assets technical unit through the UK legal and regulatory context, CASS 7 client-money rules, CASS 6 custody requirements, governance, oversight and failure scenarios. The seven chapters map to all 50 questions in the official one-hour assessment.

Key Benefits

CASS rule structure

Distinguish client-money requirements under CASS 7 from safe-custody requirements under CASS 6.

✓ Segregation and trust status
✓ Reconciliations
✓ Custody controls

Operational application

Connect regulatory rules with daily controls, governance, records and escalation.

✓ Governance and oversight
✓ Breach management
✓ Insolvency scenarios

Official weighting map

Allocate revision across all seven chapters and their published question counts.

✓ 50-question allocation
✓ 60-minute exam
✓ Chapter priorities

Syllabus

Module 1: The Legal and Regulatory Context of Client Money and Assets 20% syllabus weight

🎧 Audio

Statutory, regulatory and fiduciary foundations for protecting client property.

• FCA framework
• Client ownership
• Trust and insolvency principles

Module 2: Client Money Fundamentals (CASS 7) 18% syllabus weight

Core client-money rules, segregation, banking arrangements and record keeping.

• Client bank accounts
• Segregation
• Receipts and payments

Module 3: Controls over Client Money (CASS 7) 12% syllabus weight

Internal and external reconciliations, calculations, discrepancies and controls.

• Client-money calculations
• Reconciliations
• Shortfalls and excesses

Module 4: Safe Custody of Assets (CASS 6) 20% syllabus weight

Registration, holding, custody records, reconciliations and third-party arrangements.

• Asset registration
• Custody records
• Third-party custodians

Module 5: Governance and Oversight 12% syllabus weight

Senior accountability, policies, CASS governance, reporting and assurance.

• CASS oversight
• Policies and records
• Audit and reporting

Module 6: When Problems Arise 10% syllabus weight

Breaches, distribution rules, firm failure, special administration and resolution.

• Breach response
• Firm failure
• Client-money distribution

Module 7: The Client 8% syllabus weight

Client classification, agreements, disclosures, transfers and unclaimed assets.

• Client agreements
• Disclosures and consent
• Transfers and unclaimed property

Student Reviews

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Divya T.

· Jan 11, 2023

★

CISI Academy learner feedback

Up to date retirement modules

Even though I do retirement planning daily, the exam is tough. These updated retirement modules helped me improve my score significantly.

Freja L.

· Oct 5, 2025

★

CISI Academy learner feedback

Passed ICWIM with 81%

I got an 81% on my ICWIM exam! The section on portfolio construction is explained much better here than in the official book. Great for wealth managers.

Layla H.

· Aug 3, 2026

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CISI Academy learner feedback

Passed on my first attempt

The material covers the core topics exceptionally well. It's much easier to digest than the dry official workbook. Used it daily on my commute and passed my exam.

Khalid Y.

· Jun 7, 2025

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CISI Academy learner feedback

Clear wire transfer rules

The comparison between domestic and international wire transfer rules was laid out perfectly. It was exactly what I needed to pass my CME-2B exam.

Chepngetich R.

· Jun 24, 2026

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CISI Academy learner feedback

Helped pass

Great study tool.

Sakura T.

· Jun 7, 2025

★

CISI Academy learner feedback

Simple wire transfer rules

The rules for domestic and international wire transfers are simplified here. The course is very easy to follow.

Frequently Asked Questions

The assessment contains 50 multiple-choice questions and lasts 60 minutes.

This page follows Version 7, applicable to exams from 11 December 2025 to 10 December 2027.

Yes. It covers CASS 7 client money, CASS 6 safe custody, governance, failure scenarios and the client relationship.

Yes. The course includes seven chapter summaries, a CASS reference sheet, flashcards and five full 50-question mock exams aligned to the Version 7 syllabus.

Yes! Test your knowledge and review detailed explanations with the free CISI Client Money and Assets 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 Client Money and Assets Practice Questions & Exam Preview

Try 15 CISI Client Money and Assets practice questions from Chapter 4: Safe Custody of Assets

Practice CISI Client Money and Assets exam questions with answers and explanations. The full course includes 5 mock exams and complete syllabus coverage.

Exam Preview

Chapter 4: Safe Custody of Assets

Question 1 of 15

Which of the following are the two regulated activities relating to safe custody assets?

1 / 15

Flashcards

Card 1 of 10Chapter 1

Question

What is the overarching purpose of the client assets regime?

Tap to reveal answer

Focus Learn

Key Examinable Areas10

The FCA's strategic objective and its three operational objectives
The purpose of client asset segregation and the two required aspects (legal and physical)
The four elements of a legal contract and the difference between an offer and an invitation to treat
The distinction between actual settlement and contractual settlement and the risk contractual settlement creates
Nostro and vostro accounts and the custodian's duty to resolve differences
Legal title, dematerialisation, the register and the role of a nominee company
The statutory trust regime, fiduciary duty, the trust acknowledgement letter and pollution of trust
The role of PRIN, SYSC, COBS, CASS, SUP and COMP, and the meaning of R, G and E paragraphs
Regulated activities, specified investments, depositing and the banking exemption
The SM&CR prescribed responsibility 'z' and the roles of firms, the FCA and auditors

Common Pitfalls to Avoid6

Exam Traps6

Key Numbers10

Chapter 1: The Legal and Regulatory Context of Client Money and Assets

Why the client assets regime exists. The Financial Conduct Authority (FCA) has a statutory strategic objective that the relevant markets function well, supported by three operational objectives: protect consumers, protect financial markets, and promote competition. Consumers must be able to trust that a regulated firm will take good care of money or assets held on their behalf. The Client Assets Sourcebook (CASS) sets out the FCA's requirements. The risk is clearest on insolvency: if client money were paid into the firm's own corporate accounts it would be mixed with proprietary assets and the firm's general creditors could claim against it. Segregation therefore separates client money and assets from the firm's own.

Legal and physical segregation. Each separate regulated firm (ea…

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?

✓ Client-money and custody operations staff

✓ CASS oversight, compliance and audit professionals

✓ Candidates selecting Client Money and Assets as an IOC technical unit

★★★★★ 4.7 (2855 reviews)