CISI IISI study guide
CISI IISI · Work through your exam, one topic at a time.
The CISI Investment Operations Certificate (IOC) is a professional qualification from the Chartered Institute for Securities & Investment, a body that reports more than 54,000 members worldwide and is registered in England and Wales as charity number 1132642 and in Scotland as SC040665. The Investment Industry Standards and Integrity (IISI) unit is the standards and conduct component of that qualification, and it is aimed at people working in, or moving into, investment operations roles: settlement and custody staff, fund administrators, trade support, reconciliations, client onboarding and compliance-adjacent functions. The CISI IISI study guide has 4 sections and about 1,828 words.
01Ethics and Professional Standards
Ethics and professional standards tests whether you can apply principle-based standards - the CISI Code of Conduct and the FCA's individual conduct rules - to situations where the profitable answer and the correct answer differ. Questions turn on integrity, competence, confidentiality, conflicts, gifts and hospitality, personal account dealing and whistleblowing.
496 words, about 2 min02The Financial Services Industry and Its Regulation
This domain tests the statutory architecture: who makes the law, who regulates, how firms become and stay authorised, and what happens when things go wrong. Expect questions distinguishing institutions that are often confused by candidates.
463 words, about 2 min03Investment Products, Markets and Operations
This domain covers what is traded, where it is traded, and how a trade becomes settled cash and stock. Questions often combine a product characteristic with an operational consequence, such as how accrued interest or a corporate action changes the cash a client pays.
433 words, about 2 min04Integrity, Conduct and Client Treatment
This domain tests how firms must behave towards clients and markets: categorisation, fair treatment, order handling, market abuse controls and complaints. It is the most applied part of the exam and the easiest place to lose marks through over-simplification.
436 words, about 2 min