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CF1 Study Plan

The UK Financial Services, Regulation and Ethics (CF1) unit develops your understanding of the financial services industry including regulation and legislation.

Exam sitting:

This exam can be sat throughout the year, 7 days a week.

Suggested CF1 Study Plan

This study plan is based on 60 hours of study time over an 8 week period. The CII recommendation is 60 hours of study time, however this is only an indication of how long you will need. You may take more or less time than this depending on your prior knowledge and experience, and work/study/home commitments.

ASAP

Our student-led forums are a space for you to chat to other candidates about all things study and exam.

Click on the ‘BTS Forums’ in the menu on the left and check out the CF1 forum.

ASAP
Weeks 1 - 8

Self-study period - Starting at least 8 weeks prior to the exam

There is no avoiding a thorough study of the syllabus. This unit requires candidates to focus on the three inter-linked topics of regulation, financial products and services, and ethics within financial services in the UK.

Start by working through the BTS study guide covering the full exam syllabus and guidance on the necessary exam question answering techniques.

Weeks 1 - 8
Have you booked your exam?

Having an exam date booked can help to focus your study goals.

Have you booked your exam?
Weeks 4 - 8

Practise exam questions - Little and often

Practise as many exam-standard questions as you can before the real thing. It is good practice to start attempting mock exam questions when you are around two-thirds of the way through the study guide. Use them to review your weaker areas and target your study.

Make sure to use questions that match the standard of the exam, like those in the BTS R0 Study Buddy app.

Weeks 4 - 8
Sit your exam - Good luck!
Sit your exam - Good luck!

Suggested study hours by CF1 Learning Outcome

On average, BTS students who achieved a first time pass spent 80 hrs on this unit.

LO1: Understand the purpose and structure of the UK financial services industry.

3hrs

LO2: Understand the main financial asset classes and their characteristics.

4hrs

LO3: Understand the main financial services product types and their functions.

3.5hrs

LO4: Understand the purpose of the main areas of financial advice.

3.5hrs

LO5: UUnderstand the process of giving financial advice, including the importance of regular reviews of the consumer’s circumstances.

3.5hrs

LO6: Understand the legal concepts relevant in financial advice.

4hrs

LO7: Understand the UK taxation and social security systems and how they affect personal financial circumstances.

5hrs

LO8: Understand the impact of inflation, interest rate volatility and other relevant socioeconomic factors on personal financial plans.

2hrs

LO9: Understand the main aims and activities of the financial services regime and its approach to ethical and inclusive conduct by firms and individuals.

3.5hrs

LO10: Understand the financial regulators’ approach to regulating firms and individuals.

3.5hrs

LO11: Understand the effect of the FCA’s rules on the control structures of firms and their relationship with the FCA.

4hrs

LO12: Understand how the FCA’s Conduct of Business rules apply to the process of advising clients.

9hrs

LO13: Understand how the Anti-Money Laundering rules apply to dealings with private and intermediate clients.

3.5hrs

LO14: Understand the rules for dealing with complaints and compensation.

2hrs

LO15: Understand how the Access to Medical Reports Act 1988 and data protection rules affect the provision of financial advice and the conduct of firms generally.

3hrs

LO16: Understand the relevance of other non-tax laws and regulations to firms and to the process of advising clients.

3hrs

How much study time will I need?

You may take more or less time than this depending on your prior knowledge and experience, and work/study/home commitments.

CF1 question weighting by Learning Outcome

The CF1 exam has 100 questions on the paper. The pass mark is 70% so you need to get 70 correct answers to pass.

Some learning outcomes have more questions than others. Spend your study time wisely by targeting the heaviest weighted ones.

If you do have a deferred success on this exam, have a look at your exam feedback to see where you dropped the most marks. For example, scoring less than 50% on LO10 is less of a concern than scoring less than 50% on LO5.

CF1 Question Distribution

The BTS approach to passing CF1

This CF1 study plan has been designed by the team at BTS. Our highly-qualified and experienced team sit the Chartered Insurance Institute (CII) Level 3, Level 4 and Level 6 exams annually. This helps to ensure that the materials we produce are as up to date and ‘exam style’ as possible for our customers. 

The BTS resources provide a structured study path through the R01 syllabus, covering both the technical knowledge and exam technique required to achieve a pass. 

Below you will find an overview of the BTS recommended study plan with details of how the BTS materials can be used to support your learning. You don’t need to use every element, but we recommend starting by working through the BTS study guide. The R0 Study Buddy app is designed to be used to practise exam-standard questions, little and often from the mid-way point in your study plan.

Study

Work through the BTS study guide

What is the aim of this guide?
As you read each chapter of the guide you will gradually work through the CF1 syllabus and practise the necessary exam question answering techniques, using:

Available in a choice of printed or digital format from the BTS shop.

Practise

Study Buddy app

Practise exam-standard questions using the R0 Study Buddy app

You should aim to complete at least 2/3 of your wider study before attempting mock papers.

What is the aim of the app?

The BTS R0 Study Buddy app replicates the CII exam standard as closely as possible. There are two volumes of CF1 questions available for purchase – each giving you 400 questions to practice on.

Available to download from the Apple and Google app stores.

Exam Sitting

Exam bookings are made directly with the CII.

Before booking an exam, candidates must purchase the unit from the CII website.

There is an option to purchase ‘assessment only’ which means just the exam sitting. This allows candidates to purchase study materials elsewhere, e.g. BTS.

Information and  guidance on booking and sitting your exam can be found in our Exam FAQs:

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