QIA study guide
QIA · Work through your exam, one topic at a time.
The Qualified Investment Adviser (QIA) is a professional certification for people who advise clients on investments and manage portfolios. Candidates typically come from advisory, private banking, wealth management, and asset management roles, and often hold a related qualification or a few years of practical experience before sitting it. The QIA study guide has 8 sections and about 2,274 words.
01Investment Advisory Regulation and Compliance
Regulation sets the legal floor beneath every advisory action. Candidates should know the difference between registration/licensing (who may act) and conduct rules (how they must act), plus the fiduciary versus suitability standards.
289 words, about 1 min02Financial Markets and Investment Products
Candidates must map the product universe and the markets where it trades. Know equities (ownership, dividends, voting), fixed income (coupon, yield, duration, credit spread, call/put features), money-market instruments (T-bills, commercial paper), derivatives (futures, options, swaps - leverage and counterparty risk), and pooled vehicles (mutual funds, ETFs, hedge funds, REITs).
292 words, about 1 min03Portfolio Management and Asset Allocation
Portfolio management connects client objectives to a constructed mix of assets. Understand the investment policy statement (IPS) - objectives (return and risk), constraints (liquidity, time horizon, tax, legal, unique), and rebalancing rules.
289 words, about 1 min04Investment Analysis and Valuation
Valuation asks what an asset is worth versus its price. For equities, know discounted cash flow (DCF) , the dividend discount model (DDM) , and relative valuation using multiples (P/E, P/B, EV/EBITDA).
311 words, about 2 min05Risk Management
Risk management identifies, measures, and controls exposures. Know the main risk types: market risk (systematic), credit risk , liquidity risk , operational risk , interest-rate risk , and concentration risk .
273 words, about 1 min06Ethics and Professional Standards
Ethics is the backbone of advisory work. Candidates must understand integrity , objectivity , competence , confidentiality , fair dealing , and conflicts of interest .
283 words, about 1 min07Client Relationship Management and Suitability
Suitability is about matching recommendations to the client. Know the know-your-client (KYC) process: financial situation, objectives, time horizon, risk tolerance, experience, and any constraints.
270 words, about 1 min08Financial Planning and Taxation
Financial planning integrates goals, cash flow, savings, and taxation. Know the planning process: establish goals, gather data, analyze, recommend, implement, and review.
267 words, about 1 min