Certificate in Investment Planning (CIP)

Rules and Regulations

• Transitional arrangements for candidates
• Learning Process
• Legal System
• Entry Qualifications
• Exemptions
• Liability of the CIOBS
• Professional Advisors
• Registration
• Examinations
  • Entry
  • Fees
  • Acknowledgements
  • Examination Centres
  • Format
  • Withdrawal
  • Results
  • Re-sits
  • Extenuating Cirmcumstances
  • Travel Arrangements
  • Examination Conditions
• Help and Further Advice

Transitional Arrangements for Candidates

The following transitional regulations will apply for candidates transferring between the old and new MAPC qualification:

Learning Process

All of the courses within the Regulatory Qualification Framework (RQF ) are offered on a self-study basis with the focus of study being high quality distance learning workbooks specially produced by the CIOBS.

Support is provided by email and telephone helplines, which is included in the cost of the course.

Legal System

MAPC

Candidates register for ApEx 5 either under the Scots legal system, or under the law as it applies in England & Wales. Candidates will only be examined according to the jurisdiction, which they choose upon registration.

The textbooks for Scotland give the legal position in England and Wales as an appendix to chapters where the law varies. Scots Law candidates will not be examined upon these appendices. Similarly, the England and Wales textbooks give the legal position in Scotland as appendices. Again, this is for information only.

Candidates registered for the legal position in England and Wales will not require to know the Scots Law position for the examination.

CIP

There are no significant differences between the Scots Law position in CIP and the legal position in England & Wales. Where there are differences, these will be highlighted in the text, but the course materials and examinations will be the same whether studied in England and Wales or Scotland.

Entry Qualifications

Access to all the RQF subjects is open and so no prior qualifications are needed for entry to this award. There are also no age restrictions.

Exemptions

Exemption requests will be considered on a case by case basis. However, as these examinations are regulatory, it is unlikely that exemptions will be granted, except for credits towards other regulatory awards.

No charge will be made for considering exemptions based on qualifications from CIOBS, however there will be an exemption fee charged in respect of other qualifications. All exemption requests must be supported by the relevant documentation showing that a student has passed an examination.

Examinations

All RQF examinations are on-line examinations with results given immediately. Further details are available in the main 'Examinations' section below.

Liability of the CIOBS

In all circumstances, the liability of the CIOBS is limited to a complete refund of any enrolment fees for the subject concerned.

Professional Advisers

On completion of the Mortgage Advice and Practice Certificate you may apply for Professional Mortgage Adviser (PMA) status. Further details of this status are available from the CIOBS office.

On completion of the Certificate in Investment Planning you may apply for Professional Financial Adviser (PFA) status. Further details of this status are available from the CIOBS office.

Registration

Introduction

It is important that the administrative requirements associated with the course are complied with in order to ensure its smooth running, and to contribute to the CIOBS aims of delivering a high quality service to all candidates.

Subject Enrolment

Candidates are required to enrol with CIOBS for each paper. They should complete a subject registration form and return it to the CIOBS office accompanied by the appropriate fee.

Registration can be undertaken for a number of papers at once or alternatively you can register paper by paper. Subject enrolment will activate the dispatch of the distance learning workbooks. It is recommended that candidates undertake subject enrolment at least 10 weeks in advance of their intended examination date.

Subject enrolment is valid for 12 months from the date of registration on CIOBS systems.

Subject Enrolment Fees

The subject enrolment fees as at 1 st January 2006 are:

These fees are subject to review. The subject enrolment fee covers the following:

• Distance Learning Workbook
• Email Helpline
• One examination entry fee
• Scottish Banker Magazine for one year
• Access to the Members' Section of the website for one year

In addition to the above, the subject enrolment fees include the provision of any updated study material issued by CIOBS. Where subject updates are produced, these will be made available for downloading via the CIOBS website and will be free of charge if obtained by this method.

Where a student requires a hard copy of the updated material to be sent to them, an administration fee may be payable for this service. As it is the candidate's responsibility to ensure that they are in possession of the latest study material, it is strongly recommended that candidates regularly view the News Section of the CIOBS website for information relating to subject updates.

Refund of Fees

All subject and examination enrolment fees are non-refundable. Subject fees are also non-transferable.

Subject Enrolment Deadlines

It is advised that candidates complete subject enrolment at least 10 weeks in advance of taking the examinations. This allows sufficient time to send out tuition materials and for candidates to prepare for the examination. Candidates wishing to enrol and enter for the examinations at the same time should therefore register at least 10 weeks prior to their intended examination date.

Subject Workbooks

Upon subject enrolment the candidate's workbook will be dispatched. The workbooks are normally sent by internal bank mail or by post depending on the address you specify.

Your study material is normally sent within 4 weeks of CIOBS receiving your registration.

Validity of Subject Enrolment

Subject enrolment is valid for 12 months from the date of enrolment with CIOBS. Candidates must sit each of the subject examinations for which they have enrolled within

12 months of initial enrolment date. Candidates who do not sit the examination within the 12 month period will be required to re-enrol and pay the applicable enrolment fee.

Time Limit

There is no time limit for completion of any of the qualifications. However subject enrolment for each subject is valid for one year from the date of enrolment.

Examinations

Examination Entry

he CIOBS has an on-line assessment system for these examinations, which allows regular assessment at various approved test centres throughout the UK. For details of the current examination centres, please see the section 'Examination Centres'. Students should note that a full and updated list of examination centres is provided to them when they enrol for a subject.

Candidates can enrol for these examinations either through the members' section of the CIOBS website or by phoning the CIOBS during office hours on 0131 473 7777. At least 10 working days' notice is required for any examination entry. Further details of how to enrol and how the examinations operate will be sent with the subject workbook.

Examination Entry Fees

All candidates who have completed a subject enrolment pay an inclusive fee, which includes one examination entry fee. Thus no fee is required with an examination entry unless registering for a re-sit or if the candidate's subject enrolment has lapsed.

Candidates should note that examination entry fees are non-refundable.

Examination Acknowledgement

CIOBS will acknowledge receipt of examination entries. The acknowledgement letter will show the subjects entered and the date, time and place of the examination.

Candidates should check to ensure that the correct details are shown on the acknowledgement letter. The acknowledgement letter should be taken to the examination venue together with some form of photographic identification e.g. passport, employer ID card or driving licence. If requested to do so, candidates must show the acknowledgement letter and photographic identification to the examination invigilator.

Failure to produce the acknowledgement letter and the identification may result in a candidate being unable to sit the examination.

Examination Centres

Duration and Format of Examinations

Mortgage Advice and Practice Certificate (MAPC)

 Candidates are required to complete ALL of the following appropriate examinations:

• Appropriate Examination 1 - UK Financial Services, Regulation and Ethics

  This is a 2 hour exam consisting of 100 multiple choice questions. Candidates will achieve a Pass in this exam if they score 70% or over

• Appropriate Examination 5 - Mortgage Advice incorporating Integrated Learning Outcome H2 (H2 assesses the application of the knowledge gained in ApEx 1 and 5)

  These two papers form one 3 hour examination. Candidates will achieve a Pass in this exam if they score 70% or over. The examination is split as follows:

• ApEx 5 - 100 multiple choice questions worth 100 marks
• H2 - 3 case studies worth 50 marks

Lifetime Mortgage Advice and Practice Certificate (LMAPC)

Candidates are required to complete ALL of the following appropriate examinations:

• Appropriate Examination 1- UK Financial Services, Regulation and Ethics

  This is a 2 hour exam consisting of 100 multiple choice questions. Candidates will achieve a Pass in this exam if they score 70% or over

• Appropriate Examination 2 - Investment and Risk

  This is a 2 hour exam consisting of 100 multiple choice questions. Candidates will achieve a Pass in this exam if they score 70% or over.

• Appropriate Examination 5 - Mortgage Advice incorporating Integrated Learning Outcome H2 (H2 assesses the application of the knowledge gained in ApEx 1 and 5)

  These two papers form one 3 hour examination. Candidates will achieve a Pass in this exam if they score 70% or over. The examination is split as follows:

  • ApEx 5 - 100 multiple choice questions worth 100 marks
  • H2 - 3 case studies worth 50 marks

• Appropriate Examination 6 - Lifetime Mortgages incorporating Integrated Learning Outcome H3 (H3 assesses the application of the knowledge gained in ApExes 1, 2, 5 and 6)

  These two papers form one 2 hour examination. Candidates will achieve a Pass in this exam if they score 70% or over. The examination is split as follows:

  • ApEx 6 - 50 multiple choice questions worth 50 marks
  • H 3 - 3 case studies worth 50 marks

Certificate in Investment Planning (CIP)

Candidates are required to complete all of the following appropriate examinations:

• Appropriate Examination 1 - UK Financial Services, Regulation and Ethics

This is a 2 hour exam consisting of 100 multiple choice questions. Candidates will achieve a Pass in this exam if they score 70% or over

• Appropriate Examination 2 - Investment and Risk

  This is a 2 hour exam consisting of 100 multiple choice questions. Candidates will achieve a Pass in this exam if they score 70% or over.

• Appropriate Examination 3 - incorporating ApEx 3 - Protection, ApEx 4 - Retirement Planning and Integrated Learning Outcome H1 (H1 assesses the application of the knowledge gained in ApExes 1, 2, 3 and 4)

  These three papers form one 3 hour examination. Candidates will achieve a Pass in this exam if they score 70% or over. The examination is split as follows:

  • ApEx 3 - 50 multiple choice questions worth 50 marks
  • ApEx 4 - 50 multiple choice questions worth 50 marks
  • H 1 - 4 case studies worth 50 marks

General Insurance Certificate (GIC)

This is a 2 hour examination consisting of 100 multiple choice questions.

Candidates will achieve a pass in this examination if they achieve 70% or over.

Withdrawal from Examinations

Candidates who withdraw from an examination will forfeit their fee and will have to pay a re-sit entry fee when they next take the examination. Those candidates with a genuine reason for withdrawal or non-attendance must make a written submission supported by suitable evidence, e.g. doctor's medical certificate, requesting that their fees should be carried forward.

Examination Results

The examinations are online, with the candidate receiving their results upon completion of the examination. Candidates will be given a print-out of their result which they should retain. Results will be entered into the candidate’s records within 5 working days of the examination being sat. Candidates will then be able to view their result in the Member’s area of the CIOBS website.

For all RQF-based examinations, the results are graded as follows.

Candidates who fail an examination should pay particular attention to the print-out obtained with their results. This will give an indication of areas in which they performed poorly.

Re-Sit Examinations

Candidates who fail to pass an examination may re-sit the failed subject at a later examination on payment of the appropriate re-sit fee. Candidates will not be able to enter for a re-sit until 5 working days have elapsed from the date they sat the examination

Extenuating Circumstances

Any candidates who believe that, due to extenuating circumstances, they have been disadvantaged in the examination should write directly to CIOBS as soon as possible after the examination. Any claims must be supported by relevant evidence, such as medical documentation, and must be submitted within 5 working days of the date of the examination. All claims of extenuating circumstances will be reviewed by CIOBS whose decision will be final.

Travel Arrangements

Candidates are also reminded that they should allow sufficient travelling time to get to an examination centre. Where possible examination centres are located near convenient travel links however delays are likely and should be allowed for when making travel arrangements.

Examination Conditions

The examinations for all papers are closed book and taken under strict examination conditions. Any attempt to breach these conditions will result in immediate disqualification from that examination.

Candidates found guilty of any misconduct may have previous examination passes withdrawn and may be barred from entering further examinations. Candidates may also be reported to the appropriate regulator.

Entry to the Examination Hall

Candidates should take their acknowledgement letter to the examination centre together with some form of photographic identification e.g. passport, employer's ID card or driving licence. If requested to do so, candidates must show the acknowledgement letter and photographic identification to the examination invigilator. Failure to produce the acknowledgement letter and supporting identification may result in a candidate being unable to sit the examination.

Examinations

Candidates will be required to enter their membership number and a password, supplied by the invigilator, before gaining access to their exam. Candidates should ensure that the examination presented to them is the one they entered for, before proceeding to answer any of the questions. If a candidate is presented with the wrong paper, they should report this to the invigilator who will take the necessary steps to correct the matter.

Candidates should be aware of the time they have in which to complete their exam - to assist in this a clock will appear at the bottom of the screen showing the time remaining.

Late Admittance to the Examination Room

Candidates will not be admitted to the examination room if they are more than 30 minutes late from the appointed starting time.

Use of Calculators

Candidates are permitted to use simple calculators, which are non-programmable. Any calculators or computer devices, which can store text or formulae of any description or can be pre-programmed, are not permitted.

The invigilator has the right to remove any such devices, which they suspect do not conform to the above restriction.

Mobile Telephones

All mobile telephones or any other equipment that can be used for communication purposes must be switched off and left in the designated area of the Examination Room.

End of Examination

Within a few minutes of completing your examination and submitting it, you will receive your result. Please remember that others will not have completed their examinations and you should leave the examination room as quietly as possible.

Help or Further Advice for Students

E-Mail Helpline

Candidates who are having difficulty with any part of the syllabus or technical content of the study material or who need advice on how to study can contact the email helpline. The address is: support@ciobsacademy.co.uk

Replies will normally be made within 3 working days, although every effort will be made to provide a same day response.

Telephone Helpline

Candidates who do not have access to email can call the helpline on 0845 270 8833. The helpline is normally available between 8am and 4pm, Monday to Friday, but in the event that your call is unanswered, please leave your name, contact number and the nature of your query and your call will be returned as soon as possible.

Revision Notes

To help candidates in their preparation for the examination, the CIOBS has produced revision notes for the MAPC and CIP examinations. There are versions of the revision notes for both Scots Law and for the law as it applies in England and Wales, where appropriate.

The current price for these revision notes, which include sample examination questions, is £20 per subject. They are available for purchase on-line or can be ordered by telephoning the main CIOBS number.

Although the notes encompass the key learning points from the syllabus, please note that they are designed to be used in conjunction with the main textbook issued by the CIOBS. It is not recommended, therefore, that they be used as a 'stand alone' method of study for examination purposes.

Revision Courses

Revision courses are held at the CIOBS offices on a regular basis. These courses are delivered by CIOBS Academy staff and provide candidates with the invaluable opportunity of consolidating knowledge, clarifying particular areas of the syllabus and learning useful examination tips and techniques.

The course costs include morning coffee, lunch and afternoon tea. Please contact either Raymond Brown on 0131 473 7775 or Michael Downey on 0131 473 7782 for further details. A full list of courses can be viewed and / or downloaded from the 'Download' section of this site.

Administrative Enquires

Enquiries concerning subject enrolment, examination entry or other administrative matters relating to the qualifications should be directed to the main CIOBS telephone number 0131 473 7777.

Recommended Reading

Candidates should endeavour to keep themselves up-to-date with current trends in the financial services and mortgage market. Candidates should pay particular attention to changing taxation rules and developments in regulation and law.

Candidates should read the financial press such as the Financial Times. Candidates can also keep up to date by reading journals, e.g. Scottish Banker, Financial Adviser, Money Management, Housing Finance and Mortgage Finance Gazette.