Monthly Archives:September 2018

CII R06 October 2018 exam

R06 October 2018

The case studies for the CII R06 October 2018 exam are now available. If you have’t yet seen these, click here.

What do I do now?

You have from now until the exam at 9.30 on the 8th October to prepare. The case studies are issued in advance of the exam for a reason – to help you to prepare for the exam. This will test across a range of different aspects of financial planning that are based on two client case studies. You will not know the actual questions you will face in the R06 exam until the exam day but it makes sense to prepare for any eventuality before then.

What areas should I focus on in the CII’s R06 October 2018 exam?

Based on the case studies, we believe that you may be required in the CII’s R06 October 2018 exam to have a knowledge of the following topics:

Case Study 1: Tamir and Nehia

• Repaying unsecured debt / consolidation
• Mortgage and personal protection plans e.g. critical illness, family income benefit
• Income protection insurance – the features of this type of policy
• ISAs / LISAs / Help To Buy ISA
• Pensions: Target Date Funds
• Income tax and CGT, e.g. Dividend Allowance, annual exemption
• Inter-spouse CGT Exemption
• The benefits of receiving advice from a financial adviser

Case Study 2: Rick and Sarah

• How the client’s can use their Dividend and Personal Savings Allowances
• Pension death benefits
• Pension flexi-access options, e.g. FAD and Lifetime Annuities
• Discretionary Will Trusts
• Entrepreneur’s Relief
• Wills, e.g. Mutual Wills, the position on remarriage
• Pension sharing order (DB only)
• Lifetime Allowance issues
• Tax relief on buy-to-let interest
• IHT Loan plans
• EIS schemes: tax treatment
• Protecting their IHT liability using life policies and trusts

How does the CII’s R06 October 2018 exam compare with previous R06 exams?

There are some familiar themes. Case study 1 is a relatively young couple with a family whilst case study 2 is a ‘retirement’ scenario. Both of these are very familiar themes in R06.  Of the two, case study 2 is likely to be the most technically demanding. Having said this, remember that this is a level 4 ‘planning’ exam so you won’t get tested in depth on every potential technical area in the case study. And if a question is asked on a technical area, the technical knowledge needed to answer it shouldn’t be particularly ‘heavy’.

Prepare for questions such as the benefits of using a financial adviser (case study 1) and the ever present ‘review’ question (probably case study 2).

In a R06 exam, most of the questions will typically be based on the client’s stated financial objectives. Usually there are 6 to 8 of these spread across the two case studies. This time there are 7 so this is ‘par for the course’.

What do I need to do to pass the CII’s Ro6 October 2018 exam?

  1. Familiarise yourself with the clients’ circumstances, right down to remembering the children’s names! Although the case studies provided in the exam is identical to what you have already, you should know their circumstances well. You should also be able to apply your knowledge to their circumstances – generic answers will not usually score well.
  2. Revise and read around the technical aspects. Google is a good place to start or use the CII R06 study text.
  3. Be familiar with the technique and style of answers the CII will want. This is NOT just about applying your day job to an exam paper. Click here for a FREE copy of the CII April 2018 R06 examiners report to see what a past paper looks like. Pay particular attention to the style of questions and model answers provided.

If you want to know the types of question that have been asked previously in R06, it’s not to late to download or R06 audio material. If you do, just listen the the financial objectives that link in with this specific exam to hear how they have been previously tested. Click here for full details

Prepare well and be successful.

The Diploma Doctor