FA2 Exam: Pensions Administration
The FA2 exam can count towards the Award in Financial Administration, which is a recommended qualification for anybody who works within the financial services industry, from sales staff and technical support staff to customer service advisers. However, this Award will not be enough to qualify someone as a financial adviser.
To obtain the Certificate in Financial Administration, candidates must pass two out of the following three exams: the CF1 Exam (UK financial services, regulations and ethics), and either the FA1 (Life Office Administration) or the FA2 Exam (Pensions Administration). CF1 is a compulsory unit, meaning candidates can choose between FA1 or FA2 as the second exam. Additionally, the CF1 should be taken first, as many skills learnt in this unit will be further developed in the following one.
The FA2 exam in Pensions Administration will provide candidates with a solid understanding of pensions. Candidates who pass the exam will have an in-depth understanding of regulations and legislation relating to pensions; the fundamental principles of pension taxation and administration; the different pension products available on the market; how different types of investments relate to pensions, and how benefits affect pensions.
The FA2 unit is worth 10 credits, is estimated to require 40 study hours and is comprised of 50 multiple-choice questions. The exam, which is 1 hour long and carries a nominal pass mark of 70 %, takes place at test centres at numerous UK-wide city locations, including Liverpool, London, Newcastle and Belfast. The exam takes place regularly throughout the year.
Brand Financial Training can meet the study needs of all candidates. Learning resources are important if you want to pass. To prepare candidates for the FA2 exam, mock exam papers are conveniently available as instant purchases; you can receive them in downloadable PDF format, save them to your desktop or print them, and work through them at your own pace. The mock exam papers are based on the CII style and format. They consist of three complete sets of 125 questions and answers. Boost your confidence and give yourself a better chance of passing your FA2 exam with Brand Financial Training.
Information in this article is correct as at October 2011