CISI Wealth Management

CISI Wealth Management Practice

Official CISI Accredited Training Partner

Version 3 preparation for Paper 2 of the CISI Certificate in International Advanced Wealth Management, from securities analysis and tax to portfolio review.

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 CISI Wealth Management Practice

Wealth Management Practice is Paper 2 of the Level 4 Certificate in International Advanced Wealth Management. It applies investment knowledge to client circumstances through securities analysis, tax and estate structures, product selection, risk and return, portfolio construction, advice, recommendation and ongoing review.

This page maps the current Version 3 syllabus across all eight official elements and all 80 examination questions. Securities Analysis and Investment Selection and Recommendation are the two largest elements at 16.25% each, with the remaining questions distributed across the full client and portfolio-management process.

Key Benefits

End-to-end advice process

Follow the client journey from objectives and risk through selection, recommendation and ongoing review.

✓ Client analysis
✓ Recommendation
✓ Review and maintenance

Portfolio decision skills

Connect securities analysis and investment products with construction, performance and risk controls.

✓ Security selection
✓ Portfolio construction
✓ Evaluation and risk

Tax and planning context

Understand how taxation, trusts and foundations influence international wealth-management decisions.

✓ Personal taxation
✓ Trust structures
✓ Foundations and estate planning

Syllabus

Module 1: Securities Analysis 16.25% syllabus weight

🎧 Audio

Economic, sector, company, equity and fixed-income analysis used to assess investment opportunities.

• Economic and sector analysis
• Company and equity analysis
• Fixed-income analysis

Module 2: Taxation, Trusts and Foundations 12.5% syllabus weight

Tax principles, residence and domicile, trusts, foundations, estate planning and cross-border considerations.

• Tax principles
• Trusts and foundations
• Estate and succession planning

Module 3: Investment Products 11.25% syllabus weight

Features, uses, risks and suitability considerations across the products available to wealth clients.

• Direct investments
• Collective investments
• Structured and alternative products

Module 4: Principles of Investment Risk and Return 12.5% syllabus weight

Return measurement, risk types, diversification and the relationship between risk and expected return.

• Risk measures
• Return calculation
• Diversification and correlation

Module 5: Portfolio Construction 12.5% syllabus weight

Objectives, constraints, asset allocation, optimisation, behavioural influences and portfolio implementation.

• Investment policy
• Asset allocation
• Portfolio implementation

Module 6: Investment Advice 8.75% syllabus weight

The advice process, client information, objectives, risk capacity, suitability and professional communication.

• Fact finding
• Risk and suitability
• Advice and disclosure

Module 7: Investment Selection and Recommendation 16.25% syllabus weight

Selecting investments, conducting due diligence and forming suitable, evidence-based recommendations.

• Investment screening
• Due diligence
• Recommendation construction

Module 8: Portfolio Evaluation, Maintenance and Review 10% syllabus weight

Performance measurement, attribution, benchmarking, rebalancing and continuing client review.

• Performance evaluation
• Benchmarking and attribution
• Rebalancing and review

Frequently Asked Questions

Paper 2 is assessed by 80 multiple-choice questions in 120 minutes.

The syllabus map follows Version 3, applicable to examinations from 2 March 2026 to 20 August 2027, subject to any later official CISI update.

Not by itself. The certificate requires both Wealth Management Practice (Paper 2) and Economics and Markets for Wealth Management (Paper 1).

Securities Analysis and Investment Selection and Recommendation each carry 13 of the 80 questions. All eight elements remain examinable.

Yes. The course includes 400 practice questions across five 80-question mock exams, mapped to the eight official syllabus elements, plus chapter summaries, flashcards and an AI tutor.

Yes! Test your knowledge and review detailed explanations with the free CISI Wealth Management Practice 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 Wealth Management Practice Practice Questions & Exam Preview

Try 15 CISI Wealth Management Practice practice questions from 7.2 Investment Selection

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

Exam Preview

7.2 Investment Selection

Question 1 of 15

The workbook notes that modern portfolio theory was ushered in by Harry Markowitz's work Portfolio Selection. In which year was it published?

1 / 15

Flashcards

Card 1 of 10Chapter 1

Question

When were the OECD Principles first published and last revised?

Tap to reveal answer

Focus Learn

Key Examinable Areas10

The four OECD pillars of corporate governance - fairness, accountability, responsibility and transparency - and the six chapters of the OECD Principles (1999, revised 2023).
The distinction between rules-based (US Sarbanes-Oxley) and principles-based (UK 'comply or explain') approaches, with their advantages and disadvantages.
The principal-agent problem arising from the separation of ownership and control, plus the risks and benefits of corporate governance.
The shareholder model (Milton Friedman, 1970) versus the stakeholder model (Edward Freeman) and enlightened shareholder value (Companies Act 2006).
IFRS versus US GAAP differences, including inventory valuation (LIFO prohibited under IFRS) and revaluation of property, plant and equipment.
The structure of the annual report and accounts: narrative reporting and the five financial statements.
The accrual basis and going concern assumptions, and the qualitative characteristics of relevance, reliability and comparability.
The four styles of modified audit report: material and fundamental limitation of scope and disagreement.
Group accounts thresholds - investments below 20%, associates 20-50%, subsidiaries above 50% - and the equity method.
Statement of financial position structure, the accounting equation, and straight-line versus reducing balance depreciation.

Common Pitfalls to Avoid6

Exam Traps6

Key Numbers10

Chapter 1: Securities Analysis

Corporate governance is the system by which companies are directed and controlled: the rules, controls, policies and resolutions that dictate behaviour and identify power, accountability and decisions. Poor governance contributed to Enron, WorldCom and the financial crisis, and separating ownership from control creates the principal-agent problem. The OECD Principles (1999, revised 2023, not prescriptive) have six chapters: effective framework; shareholder rights and key ownership functions; institutional investors, markets and intermediaries; disclosure and transparency; board responsibilities; sustainability and resilience. The four pillars are fairness, accountability, responsibility and transparency. The UN Global Compact has ten principles (Human Rights 1-2, Labour 3-6, Environmen…

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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 pursuing the CISI Certificate in International Advanced Wealth Management

✓ Wealth managers, private bankers, investment advisers and portfolio professionals

✓ Practitioners developing Level 4 client-advice and portfolio-review knowledge