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CISI ICWIM

ICWIM

Exam Code: ICWIM

Exam Name: International Certificate in Wealth & Investment Management

Updated: Aug 14, 2026

Q & A: 256 Questions and Answers

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About CISI ICWIM Exam

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CISI ICWIM Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Regulation and Ethics15%- Ethical conduct
  • 1. CISI Code of Ethics
  • 2. Professional responsibilities
  • 3. Conflict of interest
- Regulatory framework
  • 1. Investor protection
  • 2. Financial regulation principles
  • 3. Compliance requirements
Topic 2: Financial Products20%- Equities and shares
  • 1. Dividends and total return
  • 2. Types of equity
  • 3. Valuation methods
- Bonds and fixed income
  • 1. Yield and price relationships
  • 2. Credit risk
  • 3. Bond types and characteristics
- Collective investments
  • 1. Fund selection criteria
  • 2. ETFs and index trackers
  • 3. Funds and structured products
Topic 3: Risk and Return20%- Portfolio theory
  • 1. Modern portfolio theory
  • 2. Asset allocation principles
  • 3. Risk-return profiling
- Risk concepts
  • 1. Types of investment risk
  • 2. Risk diversification
  • 3. Risk measurement
Topic 4: Market Environment20%- Role and function of financial markets
  • 1. Market participants and intermediaries
  • 2. Types of financial markets and their roles
  • 3. Market indices and benchmarks
- Economic environment
  • 1. Macroeconomic factors affecting investments
  • 2. Business cycles
  • 3. Interest rates and inflation
Topic 5: Client Advisory25%- Portfolio construction
  • 1. Asset allocation strategies
  • 2. Performance measurement
  • 3. Portfolio review and rebalancing
- Client needs analysis
  • 1. Investment objectives
  • 2. Time horizons
  • 3. Risk profiling and suitability

CISI International Certificate in Wealth & Investment Management Sample Questions:

1. What is the role of a central counterparty (CCP)?

A) It interposes itself between the counterparties to a trade, becoming the buyer to every seller and the seller to every buyer
B) To act as a market maker between counterparties
C) To provide funding to counterparties as and when required
D) The CCP guarantees that the counterparties will not default


2. What term is used to describe a situation where clients give investment instructions to a firm without being given advice to do so?

A) Non-discretionary
B) Discretionary
C) Execution only
D) Robo-advice


3. Central banks:

A) Guarantee the success of individual businesses
B) Are responsible for individual bank lending decisions
C) Act as lender of last resort
D) Set mortgage rates


4. One benefit of the Rules-Based model of regulation is that it:

A) Involves a high degree of prescriptive procedures and detailed rules, making it clear what individuals and firms must do to comply
B) Offers a unique combination of private interests with government oversight
C) Provides a source of guidance on how firms and individuals are expected to act
D) Evolves quickly in fast-changing dynamic markets


5. Which of the following forms part of the Financial Planning Standards Board's six-step process for financial planning?

A) Minimise client's tax burden
B) Analyse client's financial status
C) Organise client's financial affairs
D) Challenge client's risk appetite


Solutions:

Question # 1
Answer: A
Question # 2
Answer: C
Question # 3
Answer: C
Question # 4
Answer: A
Question # 5
Answer: B

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