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R06 – Financial Planning Practice

£37.50 + VAT

This material has been updated and is suitable for exams from 1 September 2019.

Our R06 audio study guide has over 4 hours of material and looks at what the R06 exam has tested in the past, and what it could test in the future. It can be downloaded almost instantly and then played through your computer or sync’d with your mobile device. This enables you to learn ‘on the go’ when conventional methods aren’t available, for example when commuting.

Based on a survey of people who purchased our MP3 material, 95.24% agreed that it helped them to study for their R0 exam.

To listen to a sample, play the following:

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What you need to know about R06

R06 Financial Planning Practice is one of the six modules that go to make up the CII's Regulated Diploma in Financial Services.

It is worth 30 of the 100 credits you will need and it's a very different kettle of fish to the other R0 exams. Why?:

  1. The exam is 3 hours long
  2. It's a written exam so there aren't the usual multiple choice questions
  3. The exam is case study specific and the case studies are issued 2 weeks prior to the exam, and
  4. This is a broad financial planning exam. This means that it's about applying your knowledge to meet the need of the client's in the case studies. It isn't a detailed assessment of your product knowledge

What does R06 examine?

R06 tests your planning skills and ability to apply your knowledge. There are 5 elements to the R06 syllabus and each element WILL be tested in the exam:

  1. Obtaining client information
  2. Analyse client information in preparation to give advice
  3. Analyse advantages and drawbacks of relevant planning solutions
  4. Make and justify recommendations
  5. Implement and review ongoing financial plans

For full details of the syllabus, click here

How difficult is R06?

The pass rates for R06 are consistently one of the highest of the R0 subjects. In simple terms, around 7 out of 10 people who sit it will pass.

2018 2017 2016 2015
77.69% 73.40% 73.23% 71.27%

Source: CII website

What's the format of the R06 exam and the pass mark?

As we mentioned earlier, R06 is a written exam. The exam is 3 hours long and you will need to score around 55% to pass the exam.

The R06 exam consists of two case studies which are both worth around 150 marks and the marks are usually split equally between the two case studies. These are issued two weeks prior to the exam - when you get into the exam, the information you are given is identical to what you have already received - with one exception.  You are given the client's circumstances before the exam, but not the actual questions (surprise, surprise).

What do I need to do to pass R06 first time?

You need to recognise that that exam technique will be a big factor for you in R06. How you answer the questions will, for most people, decide whether you pass or fail the exam. As always a decent all-round knowledge is required. but remember, this case study is issued before the exam so you can 'cram' around any areas you are not familiar with before the exam.

It is essential that you look at previous R06 exam papers as part of your study. These are available from the CII website. They show the types of question you are likely to get and the style of answers the examiners are looking for. The client details in your exam will obviously not be the same as in past exams but the style of questions are often similar - and you need to know how to answer each of the key types of question.

The CII recommend 100 hours of study. In our experience, most people won't need this amount -  the quality of your preparation is more important than the quantity.  Our MP3 audio material covers the broad planning areas and reinforces good exam technique which will help you to prepare well in advance. You will also probably have to use a range of other study options that include:

  • Past R06 exam papers. Past papers are available free on the CII website.
  • Case study specific analysis and questions. A number of training providers provide an analysis of the actual case studies for your exam. These are usually available a week before each R06 exam and may be worth purchasing.
  • CII R06 study text. This as the primary source of learning. Use it selectively as a reference source.

To learn more about what preparing for the R06 might look like, click here

R06 Exam - Financial Planning Practice. Size: 10 modules, over 4 hours of material

Download time: approx 2 minutes over high speed broadband

Please note: After purchase you will receive an email that includes the download link immediately. If you don't receive this in your inbox, please check your spam folder.

The R06 programme is based on the financial objectives that are typically tested in each R06 exam. It doesn't focus on a specific R06 exam but instead, it looks at the types of questions that have been asked in previous R06 exams. It also looks at the types of question that could be asked in a future R06 exam. This material will introduce you to the all important technique that you will need and will develop your technical knowledge of broad financial planning.R06 Financial Planning Practice

Introduction (3 minutes) - Background to the programme and how to get the best from using it

Module 1 (22 minutes)
The R06 exam and exam technique CII Structure of the Diploma exam | the types of questions asked in the R06 exam | exam preparation | 8 golden rules for the exam | How two acronyms will help you to pass the exam: FAROE and PATHETIC WINE | summary

Module 2 (26 minutes)
Generic planning areas Questions in the R06 exam will be largely based on the stated financial objectives of the clients. But there are five key areas that apply to all clients and so could be tested in every exam.  These include: different methods of adviser charging | the benefits of using a financial adviser | risk profiling tools | cash-flow analysis | review meetings | summary

Module 3 (26 minutes)
Providing a suitable income in retirement This is a key recurring area that is tested by R06. The content looks at the types of fact find questions to ask | analysing the clients circumstances | the stages of the pension advice process | technical bits, e.g. deferral of the State pension | summary

Module 4 (27 minutes)
Maximising tax efficiency  This is another key recurring area that is tested in the R06 exam. The content looks at the types of fact find questions to ask | how to answer a question that asks you to  'comment on' on the tax efficiency of an investment portfolio | recommendations that help to reduce the client's tax liability | explaining the income and CGT liability on investments| taxation of VCTs | taxation of furnished holiday lets | summary

Module 5 (26 minutes)
Providing financial security Yet another key recurring area that is regularly tested in R06!  The content looks at: death v long term sickness v serious illness | how answer 'comment on' questions to get full marks | recommending and justifying suitable advice | 'explain' questions that want you to show the depth of your technical knowledge  | summary

Module 6 (23 minutes)
Maximising the value of the estate  Minimising IHT is another key recurring area in the R06 exam. The content looks at the types of fact find questions to ask | calculation style questions | arranging suitable life assurance to meet an IHT liability | the role of LPAs | how a deed of variation might help | summary

Module 7 (23 minutes)
University and school fees planning  An area that isn't covered in every exam but does still come up regularly.  The content looks at the information required before providing advice | how to fund school fees or university education | benefits and drawbacks of funding options | the suitability of using ISAs/JISAs to fund fees | stages of the planning process | summary

Module 8 (20 minutes)
Providing a house deposit An area that isn't covered in every exam but does still come up regularly. The content looks at the types of fact find questions to ask | 'factors ' to consider | benefits and drawbacks of gifting a deposit | Lifetime ISAs | summary

Module 9 (42 minutes)
Miscellaneous planning areas  Rather than looking at a financial objective, this module dives into six technical areas. These have been chosen because they have been previously examined in R06 and also because people relatively new to the profession are usually less familiar with them. The six areas: socially responsible investments | platforms | discretionary fund management | debt and redundancy | retirement options | long-term care and LPAs | summary

Module 10 (15 minutes)
Crammer Module The summaries from the previous 9 modules

R06 Financial Planning Practice

What our customers say:

"Thanks again for all of your efforts with the R06 training material. It really has helped out with all of my exam preparation 😊"

 Jacob Wright

Trainee Financial Adviser, Landmark IFA