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Can You Answer These R01 Questions?

Can You Answer These R01 Questions?

This article is relevant to anybody who wants to further their career in the financial services industry, whether you are at Certificate Level or Diploma Level.

This month we’ve provided some CII Diploma in Regulated Financial Planning R01 questions and answers.  These are useful not only to those of you taking R01, but also to those of you sitting the CII or IFS Certificate level financial services exams.  So why don’t you give them a try?

1.    Under which of the following circumstances must the FSA notify a person who is subject to an investigation?

A.    Possible insider dealing investigation
B.    Market abuse investigation
C.    Falsely describing oneself as authorised
D.    A misleading statement investigation

2.    What must be included within a client agreement? – tick all that apply

A.    Regulation by the FSA
B.    The IFA’s contact details
C.    The IFA’s opening hours
D.    Any restrictions
E.    Risk warnings
F.    Services provided by the IFA

3.    Why is income relevant in determining the amount of protection a client needs?

A.    Because income and expenditure analysis will determine the shortfall
B.    Lower income levels suggest a  lower standard of living
C.    To determine the amount of cover required and affordability
D.    Higher income levels are normally associated with higher employment benefits

4.    Under which of the following circumstances would the powers granted under an ordinary Power of Attorney NOT be revoked?

A.    In the event of mental incapacity
B.    If the donor leaves the country
C.    In the event of bankruptcy
D.    In the event of death

5.    Under a commission disclosure, what forms of remuneration must a firm disclose to a retail client before selling a packaged product via its agent? – tick all that apply

A.    Any commission due from the packaged product
B.    Proper value of the agent’s car
C.    The explicit value of the agent’s salary
D.    Proper value of the agent’s pension benefit
E.    The equivalent of the actual cash commission an IFA would receive
F.    Proper value of the agent’s support services that are not available to IFAs

How did you find them?

Here are the answers….


1.    C : CII R01 study text Chapter 5:2, Section D1A
2.    A D E F : CII R01 study text Chapter 7, Section B3C
3.    C : CII R01 study text Chapter 2, Section B3A
4.    B : CII R01 study text Chapter 3, Section B
5.    A B D F : CII R01 study text Chapter 7, Section B3B

How did you get on?

You can find our full sets of mock papers for R01, plus a free taster set at

For R01 we also have study notes!  You can find them (plus a free taster) at