Cookies on the CII website

By using and browsing the CII website, you consent to cookies being used in accordance with our policy. If you do not consent, you are always free to disable cookies if your browser permits, although doing so may interfere with your use of some of our sites or services. Find out more »

Chartered Insurance Institute
Recently added to my basket
 
Sorry but there was an error adding this to your basket. Please try adding it again
 
 

Life and pensions principles and practices

LP3 (10 Certificate credits)

The objective of this unit is to develop a knowledge and understanding of the role and activities of the life and pensions sector and organisations' and individuals' regulatory and legislative responsibilities.

Download syllabus »

Download the LP3 Examination Guide for exams up to 1 September 2017 to 31 August 2018»

What enrolments include

Enrolment includes everything you need for a single fee: study text with updates, RevisionMate online study support and first exam entry. Select (?) below to find out more.

Exam entry

Exams can be booked now at the point of enrolment, or at a later date by calling Customer Service on +44 (0)20 8989 8464. Re-sits can be booked by calling Customer Service.

Study material testing period

2017/18 editions are applicable to exams sat from 01 September 2017 to 31 August 2018.

 

Not a member?

Members receive exclusive discounts on CII tuition, courses and exam entry


Enrol online

Members
£160.00
Non-members
£195.00
Study text and exam package - 2017/18 edition

Enrolment includes everything you need for a single fee: study text with updates, RevisionMate online study support and first exam entry.

Study text

The study text is available as either a printed book or ebook. It covers the exam syllabus in a straightforward and user-friendly format, and includes examples, key point summaries and self-test questions.

RevisionMate

Online study support includes:

  • Quiz questions - check understanding of the study text
  • Mock exam - practise exam technique by downloading the specimen exam guide
  • Student discussion forum - share common queries and learn with peers
  • Study planner - build a routine and manage time most effectively
  • Study tips - get practical guidance on achieving the most from studies
  • Online study text - provided for quick reference.

Exam entry

Exams can be booked now at the point of enrolment, or at a later date by calling Customer Service. Re-sits can be booked by calling Customer Service.

ebooks
ebooks are compatible with most portable electronic devices including Android tablets/smart phones, Kindles and iPads/iPhones. They can also be viewed on desktop and laptop computers using appropriate EPUB/Kindle reader software (required).

Please note:
• ebooks are not pdf files and cannot be printed.
• the reading experience will depend on the portable device used or the reading software installed, if viewed on a computer.

An ebook provides the same benefits as the the printed study text, with the same enrolment period, updates to content and access to RevisionMate. The cost (incl.VAT) is the same as the equivalent printed study text.

Additional benefits include:
• Portability - study on the move and when using a printed study text isn't practical
• Reduced paper use - paperless study reduces your impact on the environment
• No postage fee - ebooks are delivered electronically through RevisionMate
• Fast delivery- we aim for same day delivery for orders before midday Monday to Friday (customers receive an email to confirm their ebook is ready to download).

Depending on the device used, ebook features can include:
• Annotation tools - these include the ability to add notes to pages and highlight key points
• Easy navigation - interactive contents page and search function help you pinpoint content
• Quick web link access - related articles and resources can be accessed with a single click
• In-built dictionary - definitions for unfamiliar words
• Read-aloud - available on supporting devices, allowing increased accessibility.

Find out more
• Free sample chapters
• ebooks FAQs

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.


Study text and exam package - 2017/18 edition

Enrolment includes everything you need for a single fee: study text with updates, RevisionMate online study support and first exam entry.

Study text

The study text is available as either a printed book or ebook. It covers the exam syllabus in a straightforward and user-friendly format, and includes examples, key point summaries and self-test questions.

RevisionMate

Online study support includes:

  • Quiz questions - check understanding of the study text
  • Mock exam - practise exam technique by downloading the specimen exam guide
  • Student discussion forum - share common queries and learn with peers
  • Study planner - build a routine and manage time most effectively
  • Study tips - get practical guidance on achieving the most from studies
  • Online study text - provided for quick reference.

Exam entry

Exams can be booked now at the point of enrolment, or at a later date by calling Customer Service. Re-sits can be booked by calling Customer Service.

ebooks
ebooks are compatible with most portable electronic devices including Android tablets/smart phones, Kindles and iPads/iPhones. They can also be viewed on desktop and laptop computers using appropriate EPUB/Kindle reader software (required).

Please note:
• ebooks are not pdf files and cannot be printed.
• the reading experience will depend on the portable device used or the reading software installed, if viewed on a computer.

An ebook provides the same benefits as the the printed study text, with the same enrolment period, updates to content and access to RevisionMate. The cost (incl.VAT) is the same as the equivalent printed study text.

Additional benefits include:
• Portability - study on the move and when using a printed study text isn't practical
• Reduced paper use - paperless study reduces your impact on the environment
• No postage fee - ebooks are delivered electronically through RevisionMate
• Fast delivery- we aim for same day delivery for orders before midday Monday to Friday (customers receive an email to confirm their ebook is ready to download).

Depending on the device used, ebook features can include:
• Annotation tools - these include the ability to add notes to pages and highlight key points
• Easy navigation - interactive contents page and search function help you pinpoint content
• Quick web link access - related articles and resources can be accessed with a single click
• In-built dictionary - definitions for unfamiliar words
• Read-aloud - available on supporting devices, allowing increased accessibility.

Find out more
• Free sample chapters
• ebooks FAQs

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

Redeem exam voucher

Book here if you have not yet booked your exam and have a valid exam voucher. You will not be charged.

Members
£90.00
Non-members
£110.00
Unit LP3 exam

| Fees for 2017 exams are shown. If booking for 2018 the correct fee will be shown post login during checkout.

 

Introduction

CII qualifications involve the completion of one or more units, each covering an individually assessed topic. Assessment methods vary and depend on a unit's level and subject matter.


Study and assessment methods include:

  • Multiple-choice question (MCQ) exam - Study is based on a specified enrolment period, from 01 January – 31 December. MCQ exams are available weekly at UK and select non-UK online exam centres, or twice-yearly in April and October at non-UK paper-based exam centres.
  • Written exams - Study is based on a 12 month enrolment period from the date of purchase. Written exams are held twice-yearly in April and October, with the exception of unit R06 which is tested four times-yearly, at UK and non-UK exam centres.
  • Coursework assessment - Study is based on a 12 month enrolment period from the date of purchase. Three written assignments, each typically between 2,000 - 3,000 words, need to be passed.
  • Mixed assessment - Study is based on a 18 month enrolment period from the date of purchase. A combination of a single coursework assignment must be passed within the first six months and a MCQ exam passed within 18 months.
  • Dissertation assessment - Study is based on a 18 month enrolment period from the date of purchase. A dissertation, typically between 10,000 - 11,000 words, on an agreed subject must be submitted.

Find out more

It is essential that candidates familiarise themselves with the guidelines and instructions. Candidates should also familiarise themselves with the coursework and dissertation policies as well as exam policies before the assessment, and notes to results post-assessment.

Certificate in Financial Services units

Exam guide update

The LP3 Examination Guide for exams from 1 December 2016 to 31 August 2017 was first published in November 2016. Any questions which have been amended since the examination guide was first published will appear below.

 

Question 50 - amended 28 April 2017

Learning solutions update

These updates are Learning Solutions updates for study purposes. 

2017-18 edition 

Pdf icon small LP3_2017-18_Web_update_1_18-08-2017

Pdf icon small LP3 2017-18 edition changes

Pdf icon small Budget Summary Autumn 2017

Pdf icon small Budget Summary Spring 2017

Pdf icon small Update to budget summary 17-03-2017

 Other information

Pdf icon small Financial services current editions

 

Qualification update

Testing Position

  • Examinations are based on the published syllabus. Syllabuses are available free of charge on the CII website www.cii.co.uk or on request.
  • Candidates will be examined on the basis of law and practice in England unless otherwise stated.
  • The LP3 examination consists of 50 multiple choice questions (MCQs), 90 minutes are allowed for this examination.
  • The general rule is that legislative and industry changes will not be examined earlier than 3 months after they come into effect.
  • Candidates must keep up to date with legislative and industry changes that occur.

Tax year

  • The tax year 2017/2018 will be examined from 1 September 2017 until 31 August 2018.

EU referendum

On 23 June 2016, the UK voted to leave the European Union (EU).

The UK Government invoked 'Article 50' of the Lisbon Treaty on 29 March 2017. In doing so, the two-year negotiation period which will result in Britain leaving the EU began. This means that, at the time of publication, the UK's membership of the EU will cease on 29 March 2019.

Until this final 'withdrawal agreement' is entered into, the UK will continue to be a full member of the EU, compliant with all current rules and regulations, and firms must continue to abide by their obligations under UK law, including those derived from the EU, and continue with the implementation of all legislation that is still to come into effect.

The longer term impact of the decision to leave the EU on the UK's overall regulatory framework will depend, in part, on the relationship agreed between the UK Government and the EU to replace the UK's current membership at the end of the 'Article 50' negotiation period.

Please note: The UK decision to leave the European Union will have no impact on the 2017- 2018 CII syllabuses or exams. Changes that may affect future exam syllabuses will be announced as they arise.  

Financial Services Compensation Scheme - deposit compensation limits

Changes to the Financial Services Compensation Scheme (FSCS) deposit compensation limits come into effect on 30 January 2017.  Examinations will be reflective of these changes from 1 May 2017.

 

General Data Protection Regulation (GDPR) 

The General Data Protection Regulation comes into effect on 25 May 2018 and examinations will be reflective of the regulation from 25 May 2018.

 

MiFID II 

MiFID II comes into effect on 3 January 2018 and examinations will be reflective of the directive from 3 April 2018.

 

Assessment information

It is important that candidates entering for a CII assessment familiarise themselves with our service, in particular the rules and procedures that are in place.