R05 Exam: Financial Protection

What to expect from the R05 exam

The R05 exam covers financial protection and is one of the 6 compulsory exams (R01-6) required for the Diploma in Regulated Financial Planning. Upon completion of the unit, an individual is expected to demonstrate a sound knowledge of protection planning issues. The R05 exam is deemed by some candidates to be the easiest of the R0 exams and there seems to be some logic to this as it is the only one of the R0 exams that is a level 3 exam (the others are all level 4) and it has the highest pass rate of all the R0 exams this may be due to the fact that all 50 questions are standard multiple choice questions so no nasty multi-response questions towards the end of the paper!

Top tips

Many of the questions are worded as client scenarios so completing as many mock papers as possible will ensure you are fully prepared for the style of questions.

Subjects

• Financial protection in relation to consumer and retail market factors and trends
• The range of circumstances in which an individual may require protection planning
• The effects of State benefits and local authority-funded solutions on protection plans
• The suitability and tax implications of life assurance and pension products as protection solutions
• The main features of income protection insurance, critical illness insurance and other insurance based protection policies in connection with financial protection needs

Exam Components

The R05 Exam is worth 10 CII credits and it is an online exam consisting of 50 multiple choice questions. Candidates log onto the system with their allocated pass number to answer the questions. It must be completed within 1 hour and the nominal pass mark is 70%.

Standard Costs

Costs for sitting the R05 exam can be found on the CII website, and a reduced rate is available for members of The Chartered Insurance Institute.

Preparation

Brand Financial Training can supply you with a number of study aids to give you the best possible chance of passing the exam on your first sitting. The Mock Exam Papers include three full sets of questions and answers. The papers are always kept up to date with changes to the exam syllabus and to reflect all tax and legislation updates. Brand Financial Training’s Study Notes are an ideal way to get the information you need quickly and easily, and can be used as a condensed version of the CII text. The Mock Exam Papers and Study Notes for the R05 Exam are available in PDF format, meaning they can be sent to you electronically and you can work through them at your convenience. For further details please visit:

https://brandft.co.uk/cii-r05-ro5-financial-protection/

Information in this article is correct as at November 2020