FIMM FCE study plan

Map the Unit Trust Schemes syllabus into a one-page outline covering scheme structures, parties and their duties, and the regulatory framework, so later weeks have a fixed checklist.

Define in your own words the key UTS vocabulary: unit trust, trustee, management company, deed, unitholder, NAV, creation and cancellation of units, and distribution.

Explain the roles and legal duties of the management company and the trustee, and identify where their duties overlap and where they conflict.

Build a 40-term glossary spreadsheet with a definition and one worked example for each term.

Describe how unit prices are struck, including forward pricing, the bid-offer spread, and how expenses and charges affect NAV per unit.

Calculate NAV per unit, creation and cancellation prices, and the effect of an initial and redemption charge on a unitholder's return, using at least five self-written numerical scenarios.

Distinguish the main unit trust fund types by objective, asset class, and risk profile, and match each to a typical investor need.

Summarise the disclosure documents a prospective investor receives and what each document must contain.

Outline the regulatory and industry-body framework governing unit trusts, including the roles of the regulator, the trustee, and the industry association.

List the core investor-protection rules on valuation, pricing, related-party dealings, and reporting, and state the purpose of each rule.

Explain how distributions are declared, computed, and paid, and how income versus growth units differ in treatment.

Draft ten original multiple-choice questions on structure and regulation, with explanations for each correct answer.

Compare unit trusts with direct equities, bonds, and exchange-traded funds on cost, liquidity, diversification, and dealing mechanics.

Explain switching, transfer, redemption, and cooling-off mechanics, including typical timelines and the charges that may apply.

Compute a client's net redemption proceeds and realised gain across three scenarios involving charges, switching, and partial redemption.

Review weeks 1-3 notes and close every gap flagged in your glossary or quiz explanations.

Map the Private Retirement Schemes syllabus into a one-page outline covering scheme design, the provider and trustee roles, contributions, and withdrawal rules.

Define key PRS vocabulary in your own words: PRS provider, scheme trust deed, sub-scheme, contribution, vesting, default option, and retirement age.

Explain how PRS differs from the mandatory retirement savings system and from unit trusts, focusing on purpose, access rules, and tax treatment.

Build a 30-term PRS glossary spreadsheet with a definition and one worked example for each term.

Describe the contribution structure, including employee and employer contributions, voluntary contributions, and the limits that apply.

Explain the withdrawal rules for pre-retirement, at-retirement, and post-retirement access, and the conditions and penalties attached to each.

Compare the available sub-scheme profiles by objective and risk, and justify a suitable choice for three different client profiles.

Summarise the fees, charges, and disclosure obligations a PRS provider must meet, and explain why each protects members.

Outline the PRS regulatory framework, including provider approval, trustee oversight, member reporting, and complaint handling.

Reconcile UTS and PRS side by side in one table across structure, regulation, charges, access to funds, and tax treatment.

Draft ten original multiple-choice questions that mix UTS and PRS content, with explanations for each correct answer.

Identify and re-drill your three weakest topics from weeks 1-6.

Take two full-length timed mock exams under exam conditions and record your score and time per section.

Analyse every wrong or guessed answer, and write a one-line correction note for each.

Re-drill your five weakest topics until you can explain each aloud without notes.

Compile a two-page final revision sheet covering formulas, key rules, and common traps for both domains.