Units vary in difficulty and are assessed by either multiple choice question (MCQ) exam, written exam, mixed assessment, coursework assignment, or dissertation. This shows a commitment to continuous professional development. Level 3 qualifications are designed for further education students who are bridging the gap between GCSEs and university. Qualified members who have completed a Certificate level qualification. The CII's purpose, as set out in its 1912 royal charter, is to 'Secure and justify the confidence of the public' in its members and the insurance sector as a whole. Have you, either through personal choice or due to the policy of an employer/academy, got qualified via the LIBF, only to find it has closed certain doors for you in future job searches? If youre good enough to help manage the financial situation of others, you just may be able to fetch an impressive salary for yourself. Certificate level membership is for individuals holding one or more CII Certificate qualifications. He also believes the British expat market is where qualifications carry a bit more weight in reassuring clients, as UK standards are so stringent. Important note: For FCA 'appropriate qualifications', such as the Diploma in Regulated Financial Planning or Certificate in Securities Advice and Dealing, all learning outcomes must be matched in order for an exemption to be given against its units. Recognition of prior learning | Chartered Insurance Institute (CII) . (J01) Personal tax(see important note below), (J04) Pension funding options(see important note below), (J06) Investment principles, markets and environment(see important note below), (G30) Business financial planning (F30/L30) Corporate investment planning, (J03) The tax and legal aspects of business, (J07) Supervision in a regulated environment, (FP1) Financial services and their regulation, (CF1) UK financial services, regulation and ethics, (LP2) Financial Services Products and Solutions. The Certificate comprises one core unit and two option units from the CII insurance qualifications framework, providing a minimum total of 40 credits on successful completion. The best way to get answers to such questions is to speak to advisers who have been through it. This button displays the currently selected search type. In order to have completed this qualification, individuals were required to obtain three units. If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. We usecookiesfor a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used. You would be repeating information and being questioned on the same areas, he says. Interestingly, whilst the FCA see the LIBF DipFA and CII DipPFS as equals, the CII clearly (and perhaps unsurprisingly) has a very different view as, for those looking to transfer from the former to the latter, holding the DipFA will give you exemptions in just two (R01 & R06) out of the six exams for the CII Diploma. Generally speaking, it is not necessary to have a college degree to become a financial advisor. Units treated as similar. Once advisers have achieved Level 6 with the CII and LIBF, they can apply for chartered status. 160 hours These range from Key fact booklets and Question packs, to Learn online tutorials. This represents the time a student might typically take to complete the qualification by the shortest combination of units. Over a 6 week period, this 150 hours amounts to about 25 hours per week. The Insurance Institute of India (III) was established in 1955 for the purpose of promoting insurance education and training in India. Nick Green is a financial journalist writing for Unbiased.co.uk, the site that has helped over 10 million people find financial, business and legal advice. Most will take the CIIs Advanced Diploma in Insurance, which is also known by its designatory letters ACII. By using this website you are consenting to the use of cookies. He thinks there is too much of an overlap between the exam bodies. It is not within the gift of the CII to award academic degrees we are a professional body offering professional qualifications.. What Are Level 3 Qualifications in the UK? - Think Student Another version of the CII designation is available to claims practitioners who have completed the relevant examinations and who are members of the Faculty of Claims. The notional Ofqual Total Qualification Time for this qualification is 160 hours. (EP2) London market insurance essentials (EPA), (W01,W02, WH1, HGT, WM1) Award in general insurance (non-UK / Hong Kong)*, (LM3) London market underwriting principles, (WUE, WUA, WUT) Insurance Underwriting (non-UK)*, (P01) Insurance practice and regulation/ (P02) Long-term insurance, (EP1)Insurance, legal and regulatory(EPA), (W01,W02, WH1, HGT, WM1) Award in general insurance*, (IN7) Indian Healthcare Insurance Products*, (M98) Marine hull and associated liabilities. 120 of these must be at Level 6 (AF exams), including AF5. By using and browsing the CII website, you consent to cookies being used in accordance with our, who have already purchased learning material, If you havent purchased any materials from us directly before, please, Our qualifications are designed in consultation with experienced sector, and most are registered with Ofqual in the, Telephone service Mon to Fri: 9am 5pm (BST), Become an expert practitioner for the CII. Money Marketing Events Mr OHalloran, a chartered adviser and fellow of the CII, wrote to Dr Alexander Scott, chief executive of the CII, after being rejected by Liverpool University where he had applied to study for a doctorate. This examination assesses a knowledge and understanding of investment products and the risks involved. We are a professional body dedicated to building public trust in the insurance and financial planning profession. This examination assesses a knowledge and understanding of the Governments simplified pension taxation regime which came into full effect on 6 April 2006 (A-Day). Long-Term Care, Life and Health Protection.