CISI International Certificate in Wealth & Investment Management : ICWIM

  • Exam Code: ICWIM
  • Exam Name: International Certificate in Wealth & Investment Management
  • Updated: Aug 25, 2026
  • Q & A: 256 Questions and Answers

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CISI ICWIM Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Risk and Return20%- Risk concepts
  • 1. Types of investment risk
  • 2. Risk measurement
  • 3. Risk diversification
- Portfolio theory
  • 1. Risk-return profiling
  • 2. Asset allocation principles
  • 3. Modern portfolio theory
Topic 2: Regulation and Ethics15%- Ethical conduct
  • 1. Professional responsibilities
  • 2. Conflict of interest
  • 3. CISI Code of Ethics
- Regulatory framework
  • 1. Investor protection
  • 2. Compliance requirements
  • 3. Financial regulation principles
Topic 3: Financial Products20%- Bonds and fixed income
  • 1. Yield and price relationships
  • 2. Credit risk
  • 3. Bond types and characteristics
- Equities and shares
  • 1. Types of equity
  • 2. Valuation methods
  • 3. Dividends and total return
- Collective investments
  • 1. Fund selection criteria
  • 2. Funds and structured products
  • 3. ETFs and index trackers
Topic 4: Market Environment20%- Economic environment
  • 1. Business cycles
  • 2. Interest rates and inflation
  • 3. Macroeconomic factors affecting investments
- Role and function of financial markets
  • 1. Market indices and benchmarks
  • 2. Types of financial markets and their roles
  • 3. Market participants and intermediaries
Topic 5: Client Advisory25%- Client needs analysis
  • 1. Time horizons
  • 2. Risk profiling and suitability
  • 3. Investment objectives
- Portfolio construction
  • 1. Performance measurement
  • 2. Portfolio review and rebalancing
  • 3. Asset allocation strategies

CISI International Certificate in Wealth & Investment Management Sample Questions:

1. The first stage in the investment planning process is to:

A) Provide the client with information
B) Establish a relationship with the client
C) Gather in client data
D) Create an action plan


2. Stablecoins were introduced to overcome the volatility issues associated with speculative cryptocurrencies.
Many hold treasury securities and commercial paper as their reserves. What is the greatest concern in relation to this?

A) Banks would not buy their assets as they do not support Stablecoins
B) They are often referred to as virtual currencies to indicate that they are not issued or guaranteed by central banks and so are not fiat money
C) If the underlying assets had to be sold rapidly, then the risk of a cyber breach would be significant and cause large losses for investors
D) If the underlying assets had to be sold rapidly, then the sheer size of their holdings would cause serious liquidity issues and potential contagion in credit markets


3. The coupon on a bond has been expressed in real terms, rather than as a nominal amount. This is because:

A) It is an inflation-linked bond
B) It is an unsecured instrument
C) It is a bearer bond
D) Its redemption date is longer than 10 years


4. The demand for a product is said to be highly elastic if:

A) An increase in price leads to a halt in production
B) A 1% change in price results in a change in demand of less than 1%
C) A slight change in price leads to little change in the quantity supplied
D) A slight change in price leads to a sharp change in the quantity demanded


5. What is likely to be the result if an annual review of a client's financial plan indicates a significant change in their risk profile?

A) A customer due diligence check
B) A top-up payment
C) A change to the charging structure
D) A rebalancing exercise


Solutions:

Question # 1
Answer: B
Question # 2
Answer: D
Question # 3
Answer: A
Question # 4
Answer: D
Question # 5
Answer: D

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