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Chartered Insurance Institute
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CF1 UK financial services, regulation and ethics

At the end of this unit, candidates should understand the:

  • purpose and structure of the UK financial services industry;
  • different financial asset classes and product types;
  • process of giving advice and the main areas covered;
  • ethics, regulatory processes, rules and legislation underpinning UK financial services;
  • use of the financial regulators' powers and responsibilities to protect the market's integrity and the impact on individuals and firms of these regulators' powers.

 

R01 Financial services, regulation and ethics

At the end of this unit candidates will be able to demonstrate their knowledge, understanding and skill in applying the following topic areas:

  • UK financial service industry in its European and Global context;
  • how the retail customer is served by the financial service industry;
  • Regulatory framework, powers and responsibilities to protect the consumer;
  • the legal concepts and considerations relevant to financial advice;
  • the Code of Ethics and its impact on the business behaviours of individuals.

 

FA7 Financial services products

Important notice to candidates:  The 2016-17 syllabus, tested from September, will include a number of enhancements. From September the unit title will also change from FA7 to LP2.


Access our FAQs to find out more »

LP1 Life and pensions customer operations

At the end of this unit, candidates should be able to demonstrate a knowledge and understanding of:

  • the life and pensions customer and the wider consumer environment;
  • customer operations functions and activities;
  • how individuals and teams can ensure effective customer service;

and to apply this appropriately to a range of customer operations scenarios.

LP2 Financial services products and solutions

At the end of this unit, candidates should be able to demonstrate a knowledge and understanding of:

  • key customer needs and the factors that affect these;
  • how customers and financial services professionals identify needs and solutions;
  • the main protection, mortgage repayment and savings and investment products;
  • the main tax wrappers.

(LP3) Life and pensions principles and practices

At the end of this unit, candidates should be able to demonstrate a knowledge and understanding of

  • the role of the life and pensions sector;
  • the sector's operational functions and activities and;
  • the sector's regulatory and legislative environment, including individual professional responsibilities.