Achieving CII qualifications with prior learning based on mortgage qualifications
The following examples illustrate different routes to CII qualifications and membership designations based on different routes to mortgage advice qualifications.
Other routes are available and these examples don't guarantee that all applications will receive the same prior learning award.
Recognising level 3 mortgage advice qualifications
Mandeep, Rhona and Niall are experienced mortgage advisers and plan to become independent financial advisers. All three have passed the Level 3 Certificate in Mortgage Advice and Practice (CeMAP) qualification through different awarding organisations in England, Scotland and Northern Ireland.
Within their CeMAP qualifications
- Mandeep passed a level 4 regulatory module entitled Financial Services, Regulation and Ethics (FSRE), which consists of FSRE: Industry Regulation and Key Parties (FRE1) and FSRE: Skills, Principles and Ethical Behaviours (FRE2)
- Rhona and Niall's regulatory unit passes were in the level 3 UK Financial Regulation (UKFR). This consists of Introduction to the Financial Services Environment and Products (ITFS) and UK Financial Services and Regulation (UKFS).
When they apply for prior learning towards CII qualifications:
- Mandeep's level 4 FSRE pass entitles her to an exemption from the CII level 4 (R01) Financial services, regulation and ethics unit.
- In contrast, Rhona and Niall's level 3 UKFR passes entitle them to exemptions from the CII level 3 (CF1) UK financial service, regulation and ethics unit.
- They all receive exemptions from the CII (CF6) Mortgage advice unit.
They join the Personal Finance Society and renew their membership annually to maintain their professional designations.
Completing the CII Level 4 Diploma in Regulated Financial Planning
This CII qualification consists of six core units. To complete it:
- Mandeep's R01 exemption means she now needs to pass the remaining 5 core units (R02-R06). Her R01 and CF6 exemptions contribute 20 Diploma-level and 20 Certificate-level credits towards the CII Level 6 Advanced Diploma in Financial Planning.
- Rhona and Niall's CF1 exemptions do not contribute towards the CII Level 4 Diploma in Regulated Financial Planning. Nevertheless, they do contribute 15 Certificate-level credits towards the CII Level 6 Advanced Diploma in Financial Planning, and the CF6 exemption contribute a further 20 Certificate-level credits. Both need to pass all six core units (R01-R06).
DipPFS professional designation and regulatory Statement of Professional Standing
Once they achieve all six core units, as members, they are eligible to use the DipPFS professional designation and apply for Statements of Professional Standing.