CISI PCIAM study plan

Map the FCA Handbook structure (COBS, CASS, SYSC, PRIN, TC) and identify which modules drive PCIAM conduct-of-business questions

List the client-agreement, suitability, appropriateness and disclosure obligations under COBS 9 and COBS 9A and state the evidence a firm must retain

Define the UK regulatory architecture: FCA objectives, PRA boundary, FOS jurisdiction and FSCS compensation limits

Draft a one-page glossary of regulatory acronyms (COBS, COBS 9A, CASS, SM&CR, PROD, IDD) with a one-line plain-English definition each

Explain risk profiling: attitude to risk versus capacity for loss, and why a single questionnaire score is not sufficient evidence

Compare the main investment vehicles (ISA, GIA, pension, onshore/offshore bond, VCT, EIS) on tax treatment, access and reporting

Apply the tax wrapper decision to three constructed client scenarios and justify each recommendation in writing

Calculate income tax, CGT and IHT exposure for a simple portfolio using current-year allowances

Build a fact-find template covering objectives, timescales, dependants, existing arrangements, liquidity needs and health

Distinguish know-your-client obligations from suitability reporting and identify what belongs in each document

Explain capacity for loss assessment and how it differs from risk tolerance in the advice file

Analyse a vulnerable-client scenario and state the adjustments to advice process and record-keeping

Compute holding-period return, time-weighted return and money-weighted return for a given cash-flow series

Calculate and interpret standard deviation, beta, Sharpe ratio and correlation for a two-asset and three-asset portfolio

Distinguish strategic asset allocation from tactical deviation and state the rebalancing triggers in an IPS

Explain active versus passive management costs and when each is defensible in a private client portfolio

Compare collective investment schemes, investment trusts, ETFs and structured products on structure, pricing and risk

Explain gearing, discount/premium to NAV and dividend cover for investment trusts using a worked example

Identify the risks of structured products (counterparty, capital protection conditions, autocall triggers) and the disclosure duties

Assess a fund's charges (OCF, transaction costs, performance fee) and translate them into pounds on a £250,000 holding

Work through pension accumulation and decumulation: annual allowance, lifetime allowance transition, carry-forward and tapered allowance

Explain drawdown versus annuity versus UFPLS and the tax and longevity trade-offs of each

Apply IHT planning tools: nil-rate bands, residence nil-rate band, PETs, trusts and business/agricultural relief

Calculate an IHT liability for an estate with a main residence, gifts in the last seven years and a pension

Complete a timed 100-question mixed mock under exam conditions and record the score by domain

Classify every incorrect answer by cause: knowledge gap, misread question, calculation error or time pressure

Re-study the two weakest sub-topics identified in the mock and write a corrective summary for each

Rehearse the calculation types most often failed (returns, tax, IHT, charges) until three consecutive correct runs

Re-test every item on the week 7 error log and confirm each is now answered correctly with reasoning

Complete a second timed mock and compare per-domain scores with week 7

Summarise the 20 highest-yield facts (limits, allowances, thresholds, ratios) on a single revision sheet

State the exam-day plan: section time allocation, calculation checkpoint routine and flag-and-return strategy