QFA Investment exam-day guide
QFA Investment · Prepare for the day ahead.
Your checklist
Photo identification
Bring the original, valid photo ID specified in your booking confirmation (typically a passport or driving licence). Check the exact list of accepted ID documents with your provider before the day - expired or photocopied ID is commonly refused.
Exam appointment / booking confirmation
Bring a printed or downloaded copy showing your name, candidate number, exam module (QFA Investment), date, time and centre address.
Centre logistics checked in advance
Confirm the venue address, recommended arrival time, and whether parking or public transport access is available. Arrive earlier than the stated time to allow for registration and ID checks.
Approved calculator
Confirm with the provider which calculator models are permitted and whether a calculator is supplied on screen or at the desk. Practise with the same device you will use on the day, particularly for time-value-of-money and bond-yield calculations.
Stationery
Bring two pens and a pencil in case stationery is not provided. Confirm with the provider whether rough paper or a scribble sheet is supplied and whether you may bring your own.
Silent, non-smart watch
Useful for pacing if the screen timer is not prominent. Smart watches and any device with communication capability are normally prohibited - confirm the provider's policy.
Revision summary only, left outside the exam room
Bring a one-page summary of formulas and key distinctions (e.g. gross vs. net redemption yield, accumulation vs. distribution units) for review beforehand. It must be stored with your personal belongings during the exam.
Personal items plan
Phone switched off and stored as directed; keys, wallet and bags in the designated area. Confirm the centre's rules on bags, coats and valuables before travelling.
Water, snack and any medication
Take any prescribed medication as normal. Confirm whether drinks are permitted at the desk.
Know the paper structure
Confirm in advance the number of questions, time allowed, format (multiple choice or short answer), whether questions are equally weighted and whether there is negative marking. Use this to set your pace per question.
Pass mark and result timeline
Confirm the pass mark, when results are issued and how, and the re-sit or appeals process, so you are not distracted by these questions on the day.
Syllabus and legislative currency
Check the provider's current syllabus and any published updates for the sitting. Investment taxation, product rules and regulatory requirements can change, so study from the edition matching your exam date.
Plan the day
Stop introducing new material. Work through condensed notes and formula sheets, and re-do questions you previously got wrong. Confirm your booking details, venue and ID in writing. Protect sleep - two solid nights matter more than a late-night cram.
Do one timed practice paper under exam conditions, no notes, to rehearse pacing. Review only the errors, identifying whether each was a knowledge gap, a misread question or a calculation slip.
Light review of high-yield areas only: risk/return relationships, diversification, bond price/yield mechanics, fund structures, charges and the taxation treatment of different investment wrappers. Pack your bag with ID, confirmation, calculator, stationery and watch. Check travel times and set two alarms. Avoid alcohol and heavy screens late in the evening.
Eat a normal meal and arrive at the centre with time to spare. Do a 20–30 minute skim of your summary sheet, then put it away - last-minute panic-reading tends to undermine confidence. Switch your phone off before entering the registration area.
Present your ID and confirmation, follow the invigilator's instructions, and store all personal belongings as directed. Note where the clock is and how the timer works before you begin.
Read the instructions and check the question count and time limit match your expectation. Sanity-check the on-screen calculator. Calculate your average time per question and write it down mentally as a pacing benchmark.
Work in passes: answer questions you know immediately, flag lengthy calculations, then return to them. For calculation questions, estimate the answer first so you can spot an implausible result. Eliminate obviously wrong options on multiple-choice items before selecting. Never leave blanks unless the format penalises wrong answers - confirm the provider's rule in advance.
Stop new questions and review flagged items only. Check that every question has an answer recorded and that any answers were entered against the correct question number. Do not change answers without a clear reason.
Rules to check
Bring the original, valid photo ID specified by your provider; you will normally be refused entry without it, and the exact list of acceptable documents should be confirmed in advance.
Arrive by the stated check-in time. Candidates arriving after the published cut-off may be refused admission or given reduced time - confirm the provider's late-arrival policy beforehand.
Mobile phones, smart watches and all other electronic devices must be switched off and stored away from your desk for the entire session. Possession of a device at the desk is commonly treated as misconduct.
The exam is normally closed-book. Only items expressly permitted by the provider (for example an approved calculator) may be used; unauthorised notes or materials should be surrendered before the test begins.
Breaks are typically not permitted during a computer-based test, and leaving the room may end your session. Confirm the provider's policy on comfort breaks and on any access arrangements you may need, which usually must be requested in advance.
Attempt all questions unless the format applies a penalty for incorrect answers. Confirm the scoring rule (negative marking, partial credit, equally weighted items) before the exam so your guessing strategy is deliberate.
Communication with other candidates during the test, attempting to view another candidate's screen, or reproducing exam content afterwards is prohibited and can result in invalidation of your result.
If you feel unwell or experience a technical failure, raise it with the invigilator immediately and ask for it to be recorded; do not attempt to resolve it yourself. Confirm in advance the provider's procedure for technical issues and special circumstances.