QFA Investment study plan

Distinguish cash and near-cash savings vehicles (deposit accounts, notice accounts, money market funds, treasury bills) by liquidity, capital protection and expected return

Explain how deposit compensation or guarantee limits constrain which savings products can be recommended to a given client

Calculate gross versus net return on a fixed-rate deposit given tax treatment and compounding frequency

Classify government savings products and structured deposits by access terms, penalty structure and typical investor profile

Compare collective investment vehicles (open-end funds, ETFs, unit-linked funds, investment trusts) on pricing, dealing mechanics and cost structure

Explain how pension and retirement wrappers differ in contribution limits, access age and tax relief

Distinguish life-insurance-based savings products from pure investment products by guarantees, surrender penalties and charging structures

Compute the impact of ongoing charges on a 10-year and 20-year fund investment and state the conclusion in plain language

Explain how central bank policy decisions transmit into short-dated and long-dated bond yields

Interpret yield curve shapes (normal, flat, inverted) and state the growth and inflation expectation each implies

Calculate real return from nominal return and inflation, and convert nominal cash flows into real terms

Match each phase of the economic cycle to the asset classes and sectors that historically outperform in that phase

Compare equity, government bond, corporate bond, property and commodity markets on liquidity, volatility and typical correlation

Distinguish primary from secondary markets and exchange-traded from over-the-counter dealing, including the pricing implications

Compute the combined return on an overseas investment from the local asset return and the currency movement

Identify the leading economic and market indicators most relevant to each asset class and explain their signalling value

Compute expected return, variance, standard deviation and covariance for a two-asset portfolio

Explain how the correlation coefficient drives diversification benefit and identify the limits of diversification

Separate systematic from unsystematic risk and match each to the appropriate mitigation technique

Calculate and interpret the Sharpe ratio and at least one other risk-adjusted return measure

Apply a risk-profiling output to select an asset allocation consistent with the client's capacity for loss and time horizon

Explain the purpose and mechanics of rebalancing, and evaluate strategic versus tactical asset allocation

Distinguish time-weighted from money-weighted return and compute each for a short series of cash flows

Interpret a performance attribution and benchmark comparison for a sample portfolio

Map the regulatory framework: who must be authorised, which conduct rules apply, and what disclosures are mandatory before and after a recommendation

Run the suitability process end to end: fact find, risk profile, capacity for loss, recommendation, and disclosure of costs and charges

Calculate capital gains tax and tax on investment income, and quantify the effect of a tax wrapper on net return

Identify conflicts of interest and apply the rules governing inducements and adviser remuneration

Integrate all four domains by working mixed-topic case scenarios under exam time pressure

Re-drill the ten highest-frequency error-log topics carried forward from the week 4 and week 6 assessments

Articulate and justify recommendation decisions in writing using precise technical terminology