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Chartered Insurance Institute
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Key facts


Key facts for the Certificate in Regulated Financial Services Operations

Ofqual Regulated Qualification Framework (RQF) Level Level 3
Number of available units 6 Certificate units and 1 Diploma unit
Compulsory units 1 unit:
• (R01) Financial services, regulation and ethics; or
• (CF1) UK financial services, regulation and ethics
Elective units 2 units from:
• (FA1) Life office administration; 
• (FA2) Pensions administration; 
• (FA4) Collective investment scheme administration;
• (FA5) Individual savings account administration; or
• (FA6) Investment client servicing
CII credits required to complete
(existing credits carried forward)
35
CII credits per unit • R01 - 20 credits
• CF1 - 15 credits
• FA1/FA2/FA4-FA6 - 10 credits
Exam format R01/CF1
• Online, 2 hours
• 100 multiple choice questions (MCQs)
FA1/FA2/FA4-FA6
• Online, 1 hour
• 50 MCQs

Average study time per unit • R01/CF1/FA1/FA2 - 60 hours
• 
FA4-FA6 - 70 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 Cert CII (FS)