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Chartered Insurance Institute
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Key facts


Key facts for the Certificate in Financial Services

Ofqual Regulated Qualification Framework (RQF) Level Level 3
Number of available units 5 Certificate units and 1 Diploma unit
Route options

Life and pensions route
• (LP1) Life and pensions customer operations; and 
• (LP2) Financial services products and solutions or  (FA7) Financial services products; and 
• (LP3) Life and pensions principles and practices   

General route
• (R01) Financial services, regulation and ethics; or
 (CF1) UK financial services, regulation and ethics; and 
• (FA7) Financial services products or (LP2) Financial services products and solutions

CII credits required to complete
(existing credits carried forward)
Life and pensions route: 45
General route: 35 
CII credits per unit • R01/FA7/LP2 - 20 credits
• CF1/LP1 - 15 credits
• LP3 - 10 credits
Exam format

R01/CF1
• Online, 2 hours
• 100 multiple choice questions (MCQs)

FA7/LP2
• Online, 2 hours
• 75 MCQs
LP1 
• 90 minute exam comprising 15 MCQs plus 35 MCQs linked to 7 case studies 
LP3
• 90 minute exam comprising 50 MCQs
 

Average study time per unit • R01/CF1/LP1 - 60 hours
• FA7/LP2 - 100 hours
• LP3 - 50 hours 
Availability of exam sessions
(Details shown apply to the UK. Outside of the UK exams are offered twice-yearly)
Year-round
Availability varies from centre to centre, but typically weekly at over 40 centres across the UK.
Entry requirements? None
Credits available for prior learning? Yes
Record of Achievement issued for each exam pass? Yes
CII/PFS membership designations Life and Pensions route: Cert CII (Life and Pensions)
General route: Cert CII (FS)