A Look at Recent Past Papers for the CII AF1 Exam – March 2026
In this article, we are taking a look at the questions asked in four past exam papers of the CII’s Advanced Diploma in Financial Planning AF1 exam; this is the unit that tests personal tax and trust planning.
This article is correct as at 20 February 2026.
In the table below we show the questions that were asked in the 2024 and 2025 exams showing the split between the marks available for theory questions and those available for calculations.
| Theory - 115 marks Qualifying interest payments. Self-assessment rules. Qualifying conditions and taxation of REITs. Student loans. Laws of intestacy. Process to set up a LPA. Implications of sole attorney. Joint attorneys vs jointly and severally. Capital losses and CGT. Enterprise Investment Schemes. CGT implications of transfers on separation /divorce. Reporting and payment of exit charges. Loan Trusts. Gifting and IHT on death. Domicile status and IHT position. Excluded Property Trusts. | Theory - 106 marks Payment of CGT. CGT implications of gifting and/or selling company shares. National Insurance. Factors HMRC consider to establish as self-employed. Residence tests. Marriage Allowance. Losing mental capacity without an LPA in place. Advantages of DGTs and factors to consider for their use. Benefits of a discretionary trust created in a Will. Taxation of discretionary trusts. Trustee expenses. Investment powers and duties - Trustee Act 2000. | Theory - 108 marks Income Tax relief on charitable contributions. Benefits of making SIPP contributions. Basis of tax assessment. Class 2 and Class 4 NICs. VAT / flat rate scheme. 18 to 25 trusts. Residence rules, CGT and remittance basis. Factors in respect of Private Residence Relief. Income Tax treatment of interest in possession trust. Income Tax. Deed of Variation vs Disclaimer. Drawbacks of EPAs and benefits of replacing with new LPAs. | Theory - 124 marks IHT on lifetime transfers. IHT on transferring home and living rent free vs paying rent. Personal representative responsibilities. Investment duties of trustees. ISA on death and APS. Residence status. CGT implications on separation/divorce. Taxation of bonds. Reviewing trust investments. Delegation of attorney powers. RNRB. Bonus/rights issues. Tax of rental income. IHT on gifts and protection strategy. |
| Calculations - 45 marks Income Tax - 19 CGT - 14 Periodic charge - 9 Exit charge - 3 | Calculations - 54 marks CGT - 18 Income Tax - 14 Income Tax - 9 IHT - 13 | Calculations - 52 marks Adjusted net income - 5 Income Tax - 16 IHT on 18/25 trust - 4 CGT - 14 IHT - 13 | Calculations 36 marks IHT - 9 Income Tax – 11 CGT - 11 SDLT - 5 |
As you can see, each exam covers calculations of the main taxes but each will have different assets and different scenarios to test various aspects of those taxes. The split of marks between theory and calculations has varied between these four papers with a marked difference between September 2025 and September 2024. Powers of attorney appear in each of these exams, as well as aspects of the residence rules.
Anyone studying for AF1 should put in place a comprehensive timetable of study that covers in full the learning outcomes – the CII R03 and J02 manuals provide the relevant content for this exam. Using past exam guides will help as a reference to the types of question that have been asked within each of those learning outcomes and will ensure that the level of detail needed is appreciated, that application of knowledge is being demonstrated, and also serve as a reminder that answers should always be related to the information that has been given in the case study.
One final reminder is to show all of the workings in calculations; marks will be available for the process so even if the final answer is incorrect, many marks can be achieved on the way.
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