CII
Level 3
QN: 601/8359/7
Curriculum Active
CII Level 3 Certificate In Regulated Financial Services Operations
Official qualification regulated by Ofqual, awarded by CII. Classified as a Vocationally-Related Qualification. Total guided learning hours: 42 hours.
Qualification Level
Level 3
Awarding Body
CII
Syllabus Units
5 Units
Guided Hours
42 hrs
Instant access to interactive lessons, quizzes, and spaced revision.
Course Syllabus & Study Modules
Complete breakdown of verified curriculum topics and learning objectives.
1
Financial services, regulation and ethics
Verified
Key Learning Objectives:
- Understand the UK financial services industry in its European and global context.
- Understand how the retail consumer is served by the financial services industry.
- Understand legal concepts and considerations relevant to financial advice.
- Understand the regulation of financial services.
- Understand the financial regulators' responsibilities and approach to regulation.
- Apply the principles and rules as set out in the regulatory frame
- Apply the regulatory advice frame
- work in practice for the consumer.
- Understand the range of skills required when advising clients.
- Understand the financial regulators' use of principles and outcomes based regulation to promote ethical and fair outcomes.
- Apply the Code of Ethics and professional standards to business behaviours of individuals.
- Critically evaluate the outcomes that distinguish between ethical and compliance driven behaviours.
2
Individual savings account administration
Verified
Key Learning Objectives:
- Know the main features and uses of Individual Savings Accounts (ISAs).
- Understand ISA investors and applications.
- Know the regulation and authorisation of ISAs.
- Know ISA investment rules and restrictions.
- Understand the tax treatment of income and tax claims.
- Understand ISA holder rights.
- Know the charges and expenses of ISAs.
- Understand ISA withdrawals, closure, the death of an investor, transfers.
- Know ISA returns of information and HMRC inspections.
- Understand the different features and administrative requirements of junior ISAs and Child Trust Funds.
3
Life office administration
Verified
Key Learning Objectives:
- Know the basic product types
- Know the key features of group life policies and other protection policies.
- Know the basic principles of taxation of life policies.
- Understand the principles of financial underwriting
- Know the principles of medical underwriting
- Know the limits of authority and relevant legislation
- Know the main stages and significance relating to the arrangement of life policies and other protection policies.
- Know the processes and procedures relating to policy administration
- Understand the use of trusts in life policies and related policies
- Know the different methods of premium payments and the consequences of non-payment.
- Understand the main features of unit linking
- Understand the main features of with profits
- Understand the principles and procedures of policy claims
4
Pensions administration
Verified
Key Learning Objectives:
- Know HM Revenue & Customs requirements for registering pension schemes.
- Know the relevant financial regulators' rules
- Know the requirements for disclosure of information
- Know the procedures for the referral of complaints
- Know the basic principles of pension taxation
- Know the key features of the basic pension product types
- Know the key features of group pensions
- Know the main pension policy issues
- Understand the administration of pension policies
- Know the principles of medical underwriting
- Understand the main features of unit linking
- Understand the main features of with profits
- Know the different methods of payment and the consequences of non-payment
- Understand pension claims and the options available when taking benefits
- Understand how pension benefits are treated on divorce
- Understand the use of trusts in pension policies
5
UK financial services, regulation and ethics
Verified
Key Learning Objectives:
- Understand the purpose and structure of the UK financial services industry.
- Understand the main financial asset classes and their characteristics, covering past performance, risk and return.
- Understand the main financial services product types and their functions.
- Understand the purpose of the main areas of financial advice.
- Understand the process of giving financial advice, including the importance of regular reviews of the consumer’s circumstances
- Understand the legal concepts relevant in financial advice.
- Understand the UK taxation and social security systems and how they affect personal financial circumstances
- Understand the impact of inflation, interest rate volatility and other relevant socio-economic factors on personal financial plans.
- Understand the main aims and activities of the financial services regulatory regime and its approach to ethical conduct by firms and individuals.
- Understand the FCA’s approach to regulating firms and individuals
- Understand the effect of the FCA’s rules on the control structures of firms and their relationship with the FCA.
- Understand how the FCA’s Conduct of Business rules apply to the process of advising clients
- Understand how the Anti-Money Laundering rules apply to dealings with private and intermediate clients
- Understand the rules for dealing with complaints and compensation
- Understand how the Access to Medical Reports Act 1988 and the Data Protection Act 1998 affects the provision of financial advice and the conduct of firms generally.
- Understand the relevance of other non-tax laws and regulations to firms and to the process of advising clients.
Regulatory & Verification Details
- Qualification Number (QN)
- 601/8359/7
- Regulated Status
- Available to learners
- Awarding Body
- CII
- Qualification Type
- Vocationally-Related Qualification
- Operational Start
- Jun 2016