🇸🇦 CISI Capital Markets & Wealth Management

Derivatives - Investment Operations Certificate (IOC) (KSA)

Name: Derivatives - Investment Operations Certificate (IOC)
Rating: 4.9 (15 reviews)

Prepare across all nine current Derivatives Level 3 elements with an official CISI Accredited Training Partner, five full timed mocks and workbook-mapped revision tools.

400 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 × 100 questions · 400 unique questions · 500 total question slots · unlimited retakes
Focus Learn · key areas, pitfalls, exam traps & key numbers
Flashcards · fun, fast and effective recall
Formulas, worked calculations & chapter rules
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.

Current CISI Derivatives Level 3 preparation

Study the nine chapters in the same order as the current CISI workbook, from instruments and underlying markets through pricing, OTC products, clearing, settlement, strategies and regulation.

Mocks 1–4 contain 400 independently authored questions; Mock 5 selects 25 from each. The five mocks use the official 100-question, 120-minute format and the published nine-element weighting. Revision tools include 184 flashcards, 184 searchable rules and formulas, including 36 fully worked examples, nine detailed summaries and a course-grounded AI tutor.

CISI Academy is an official Accredited Training Partner (ATP) of the Chartered Institute for Securities & Investment. ATP status applies to the provider; practice questions and platform features are preparation resources rather than official CISI examination questions.

Key Benefits

Official CISI ATP Partner

Study with confidence using materials aligned with the syllabus published by the Chartered Institute for Securities & Investment.

✓ Provider listed as a CISI Accredited Training Partner.
✓ Current syllabus map.
✓ Clear separation between official sources and practice content.

Full Timed Practice

Build pacing and decision discipline with five full mock papers.

✓ 100 questions per mock.
✓ 120-minute timer.
✓ Official element weighting.

Workbook-Matched Revision

Move through the same nine chapters as the current workbook.

✓ Nine detailed summaries.
✓ 184 searchable rules and formulas, including 36 fully worked examples.
✓ 184 active-recall flashcards.

Current Assessment Format

Practise against the published question count, timing and pass benchmark.

✓ 100 scored questions.
✓ 120 minutes.
✓ 70% pass mark.

Course-Grounded AI Tutor

Ask for explanations using the same current course knowledge.

✓ Formula and threshold recall.
✓ Current chapter titles and exam facts.
✓ Source-limited answers rather than unsupported guesses.

Syllabus

Module 1: Introduction to Derivatives 17% syllabus weight

🎧 Audio

Risk, gearing, options, futures, forwards, CFDs, swaps, ETD/OTC markets and participants.

• Hedging, speculation and arbitrage
• Options, futures, forwards and CFDs
• Swap families and trading environments

Module 2: Underlying Markets 16% syllabus weight

Money markets, FX, bonds, equities, commodities, cryptoassets and alternative underlyings.

• Money markets and FX
• Bonds and equities
• Commodities and alternative markets

Module 3: Market Structure 9% syllabus weight

Exchanges, order types, wholesale facilities, OTC dealing, accounts, give-ups and reporting.

• Orders and venues
• Trade registration and accounts
• Reporting and market data

Module 4: Principles of Pricing and Valuation 11% syllabus weight

Cash-flow valuation, futures fair value, basis, arbitrage and option-pricing relationships.

• Carry and futures fair value
• Option premium and Greeks
• Put-call parity and arbitrage

Module 5: OTC Derivatives 7% syllabus weight

FRAs, rate options, swaps, credit derivatives, exotics, documentation and collateral.

• Rates and credit products
• OTC options and structured products
• ISDA documentation

Module 6: Principles of Clearing and Margin 14% syllabus weight

Novation, CCP risk controls, initial/variation margin, SPAN, collateral, CSAs and UMR.

• Clearing and default arrangements
• Margin and collateral
• Uncleared Margin Rules

Module 7: Delivery and Settlement 6% syllabus weight

Cash and physical settlement, tender, EDSP, option exercise/assignment and controls.

• Futures settlement
• Option exercise and assignment
• Settlement controls

Module 8: Trading, Hedging and Investment Strategies 14% syllabus weight

Spreads, hedge ratios, basis and delta hedging, options strategies and synthetics.

• CTD, BPV and beta hedges
• Options strategies and payoff limits
• Synthetic and ETD/OTC choices

Module 9: Regulatory Requirements 6% syllabus weight

Exchange regulation, FCA principles, client conduct and US SEC/CFTC/NFA requirements.

• Principles and client protection
• Client money and best execution
• US regulatory bodies and Part 30

Student Reviews

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Submitted directly to CISI Academy. These testimonials are not presented as independently verified by Trustpilot, Google, or another third-party platform.

I appreciate that this is an official training partner The quality of the questions reflects the real exam standards completely

Frequently Asked Questions

The current Level 3 assessment has 100 scored multiple-choice questions in 120 minutes and a 70% pass mark. CISI states that up to 10% additional unidentified trial questions may appear and do not contribute to the score.

The course follows Derivatives Version 25, effective for examinations from 21 February 2026 to 10 February 2027, including the 12 January and 11 September 2026 candidate-update corrections, including the Sunday 9pm to Friday 9pm GMT FX-market week.

The learning content is mapped to the current official CISI syllabus, workbook and candidate-update notice. The course is a preparation resource; its practice questions are not official CISI exam questions.

Five full 100-question timed mocks, 184 active-recall flashcards, 184 searchable rules and formulas, including 36 fully worked examples, nine chapter summaries and a course-grounded AI tutor.

As an official CISI Accredited Training Partner, our provider holds ATP status and our materials are structured around the current CISI syllabus. This gives you a structured, exam-focused companion to the official workbook.

Yes! Test your knowledge and review detailed explanations with the free Derivatives - Investment Operations Certificate (IOC) 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 Derivatives - Investment Operations Certificate (IOC) Practice Questions & Exam Preview

Try 15 Derivatives - Investment Operations Certificate (IOC) practice questions from Derivatives Instruments and Trading

Practice Derivatives - Investment Operations Certificate (IOC) exam questions with answers and explanations. The full course includes 5 mock exams and complete syllabus coverage.

Exam Preview

Derivatives Instruments and Trading

Question 1 of 15

A linear futures exposure of £80,000 requires £4,000 initial margin. What is the exposure leverage?

1 / 15

Flashcards

Card 1 of 10Exam Traps

Question

What is the trap: margin does not cap a futures loss?

Tap to reveal answer

Focus Learn

Key Examinable Areas10

1.1.1: Reward and four risks
1.1.2: Gearing and capital at risk
1.2.1: Option rights, exercise and payoff features
1.2.2: Reading the four option profit diagrams
1.3.1: Forward and futures obligations
1.4.1: Contracts for difference
1.4.2: Spread betting and CFDs
1.5.1: Swap cash-flow framework
1.5.2: Interest-rate swap legs and accrual
1.5.3: Why use an inflation swap

Common Pitfalls to Avoid4

Exam Traps3

Key Numbers2

Chapter 1: Introduction to Derivatives

A derivative is a contract whose value depends on an underlying price, rate, index, event or asset. Users must distinguish risk reduction from risk creation. A hedger takes an offsetting derivative position against an existing or expected exposure; a speculator accepts price risk in pursuit of return; an arbitrageur trades linked instruments when a price inconsistency can cover financing, spreads, fees and execution risk. Gearing arises because a premium or margin supports exposure to a much larger notional amount, magnifying the percentage effect of market moves on the funds committed.

Reward and four risks

Derivatives can hedge exposures, provide geared investment and exploit relative mispricing. Market risk is loss from adverse prices or rates; counterparty risk is failure to perfo…

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?

✓ Derivatives traders and brokers

✓ Clearing and settlement professionals

✓ Risk managers and analysts

✓ Finance professionals dealing with OTC and exchange-traded derivatives

★★★★★ 4.9 (15 reviews)