AWMA study plan
AWMA · Give each week a clear focus.
8 weeks · About 7 hours per week
Wealth Management
Map the Wealth Management domain into five subtopics and rank them by exam weight and personal weakness
Define core investment-vehicle categories (equities, fixed income, cash equivalents, alternatives) and state one tax and one liquidity trait for each
Build a formula sheet for time value of money, risk-adjusted return, and portfolio return calculations
Solve 20 practice problems on return measurement and score at least 75 percent
Your checkpoint
A one-page wealth-management topic map plus a formula sheet covering at least 12 formulas, each verified against a worked example
Wealth Management
Explain asset allocation, diversification, and correlation effects in plain client language
Compare risk tolerance assessment methods and identify the inputs each requires
Draft three model portfolios for conservative, moderate, and aggressive profiles with rationale for each weight
Compute portfolio expected return and standard deviation for at least two of the drafted portfolios
Your checkpoint
A three-portfolio comparison table showing target weights, expected return, volatility, and a two-sentence client-facing rationale per portfolio
Wealth Management
Distinguish tax-advantaged, taxable, and tax-deferred account types and match each to a client scenario
Summarize estate-planning instruments (wills, trusts, beneficiary designations, powers of attorney) and their primary purpose
Outline insurance and risk-management products relevant to wealth preservation
Answer 25 mixed questions on tax, estate, and insurance topics and log every miss with the underlying rule
Your checkpoint
An error log of at least 15 missed questions, each rewritten as a corrected one-sentence rule statement
Wealth Management
Integrate retirement planning concepts including contribution limits, distribution rules, and income-replacement estimates
Apply a full case-study workflow: gather facts, assess risk, allocate assets, and select accounts
Complete two timed case sets under exam pacing without notes
Identify the three weakest wealth-management subtopics from scored practice
Your checkpoint
Two fully written case solutions with allocation rationale and a ranked list of the three weakest subtopics
Client Relationship and Practice Management
Describe the client discovery and data-gathering process and list the documents a complete profile requires
Draft a 15-question discovery script that surfaces goals, constraints, and risk tolerance
Explain fiduciary versus suitability standards and where each applies
Write a sample engagement letter outline covering scope, fees, and responsibilities
Your checkpoint
A discovery script of at least 15 questions plus a one-page engagement letter outline
Client Relationship and Practice Management
Build a client risk-tolerance questionnaire with scoring bands and interpretation guidance
Outline a portfolio review cadence and the metrics reported at each interval
Draft talking points for delivering underperformance news without triggering panic selling
Identify regulatory and ethical obligations around disclosures, conflicts of interest, and recordkeeping
Your checkpoint
A complete risk-tolerance questionnaire with scoring rubric and a one-page client review agenda
Wealth Management & Client Relationship and Practice Management
Run two full-length timed practice exams under exam conditions
Categorize every miss by domain and subtopic to expose remaining gaps
Rehearse client-communication scenarios aloud, including objections and behavioral bias discussions
Revisit the week 1 formula sheet and confirm every formula from memory
Your checkpoint
A scored practice-exam report listing domain-level accuracy and a prioritized list of the 10 highest-value fixes
Wealth Management & Client Relationship and Practice Management
Drill the 10 prioritized fixes until each is answered correctly twice in a row
Take one final timed practice exam and target at least 75 percent overall
Condense both domains into a two-page review sheet for final recall
Simulate exam-day logistics including timing, breaks, and question triage strategy
Your checkpoint
A two-page condensed review sheet and a final practice score with a written go/no-go readiness assessment
Milestones
Week 2: Score at least 70 percent on a 25-question wealth-management quiz covering allocation and risk assessment, with a formula sheet complete and self-tested
Week 4: Complete two timed case sets with at least 65 percent accuracy and produce a ranked list of the three weakest wealth-management subtopics
Week 6: Finish the discovery script, risk-tolerance questionnaire, and review agenda, and pass a self-graded check on fiduciary and disclosure rules
Week 8: Achieve at least 75 percent on a full-length timed practice exam with no domain below 65 percent, and finalize the two-page review sheet