CISI ICWIM : International Certificate in Wealth & Investment Management

  • Exam Code: ICWIM
  • Exam Name: International Certificate in Wealth & Investment Management
  • Updated: Sep 13, 2026   Q&As: 256 Questions and Answers

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

Who is responsible for developing international standards for combating terrorist financing?

  • A. Financial Action Task Force
  • B. United Nations
  • C. Financial Conduct Authority
  • D. Wolfsberg Group of Banks
Answer: A

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Question #2

What is a key feature of Islamic bonds (Sukuk)?

  • A. The holder of the bond has partial ownership of the underlying assets
  • B. The bond can only be linked to intangible assets in Islamic countries
  • C. The bond can only be linked to tangible assets in Islamic countries
  • D. The holder of the bond has full ownership of the underlying assets
Answer: A

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Question #3

The Arbitrage Pricing Theory (APT) assumes investors can sell short. This involves:

  • A. Selling your shares and buying them back a short time later
  • B. Selling lots of securities over a short time frame
  • C. Selling something you do not own, intending to buy it back at a lower price later
  • D. Not selling the whole of your shareholding in one trade
Answer: C

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Question #4

Measures of Central Tendency include a method whereby a set of numbers are multiplied and then the nth root of the resulting product is taken. This is known as the:

  • A. Mode
  • B. Median
  • C. Geometric mean
  • D. Arithmetic mean
Answer: C

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Question #5

An investor would regard a company's Interest Cover ratio as significant as it provides:

  • A. A breakdown of how much debt a company has in relation to equity
  • B. An indication of the extent to which the company can service its debts
  • C. An indication of what interest rate the company is paying
  • D. A summary of how much liquid cash an organisation has for funding dividend payments
Answer: B

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