R05 exam: how to pass
The CII’s R05 exam, Financial Protection, has the highest pass rate for the core R0 exams – 78%. So why do so many people come out of the exam thinking it was tough?
There is a simple answer. Whilst there are many areas in R05 that people may be familiar with like life assurance products, IPI and CIC, there are areas such as long term care, social security benefits and general insurance products, e.g. accident and sickness policies, that are not generally well known.
We also find that an increasing number of people start their R0 exams with R05. So instead of it being the last multiple-choice exam, it is the first. We think that this is a good idea but it does add to the degree of difficulty.
What does R05 look like?
The CII R05 exam has 50 questions, and you have 1 hour to complete it. All of the questions are single-response questions that only need one answer. There are none of those pesky multiple-response question that require more than one answer. These are much harder to answer.
10 tips on how to pass R05 first time
Here are 10 tips to make sure you pass the exam first time – or at least make it more likely!
- Put in the hard yards. The CII recommend around 60 hours of study. If you have experience of financial services, you probably won’t need this much preparation. If this is your first R0 exam, then you’ll need this and more.
- Work smarter, not harder. It’s not just about how much study you do; it’s also about the quality of your study. Most people learn best by ‘doing stuff’, rather than just reading (which is passive). For example, use highlighter pens, write summary notes and use the CII online RevisionMate practice questions. You might also use our audio material so that you can learn on the go. Click here for details.
- Focus on chapters 4, 5, 6, 7, 9 and 10 of the CII R05 study text. The CII R05 study text follows the sequence of the syllabus. The questions are not allocated equally across each chapter in the study text so if time is short, why wouldn’t you focus on the chapters that are most heavily examined? Just these six chapters account for 76% of the marks in an R05 exam. Click here to see the R05 exam syllabus.
- Focus on the content you don’t know. Most people will be familiar with some elements of the content. As few people read the study text from cover to cover, focus your reading on the bits you are unfamiliar with. Why? The fact is that some knowledge goes a long way. Even if you don’t know the answer to a question, a little knowledge will help you to eliminate one or more of the incorrect answers. This leads me on to the next tip.
- Guess! Questions in R05 are marked positively so if you guess and get it wrong, you don’t lose anything. If you get it right then, bingo, one mark closer to the pass mark. Use a process of elimination to reduce the likely number of options but if in doubt, guess. Never leave a question unanswered.
- When studying, don’t get bogged down in long term care. This is chapter 8 of the study text and it runs to 25 pages. For most people, they have limited understanding of LTC and if you have the time, it’s something you should know about. If you don’t have time, this is quite a lot of study when there will typically only be 3 questions on it in the exam.
- Practice, practice, practice. There really is no substitute for answering R05 practice questions such as the CII Knowledge Checker Questions on RevisionMate. Most people will get these as part of their exam entry package. Start using these early on in your preparation. Most people learn from their mistakes – so make lots of them during your prep so you don’t make them in the exam. Don’t leave practice questions until just before you sit the R05 exam.
- Complete the R05 CII exam guide at least twice. Time pressure and lack of knowledge are likely to be the biggest issues for many people. Do your practice runs under exam condition so you get a feel about what it’ll be like in the exam. The CII exam guide is the best guide there is as to what your actual exam will look like. Click here to access this.
- Read the exam questions twice. Trust me, if the question gives you information, you’ll need to use it somehow. The CII doesn’t give information just to ‘pad out’ a question. So read the question twice and ask yourself: ‘how do they expect me to use this information?’.
- Be kind to yourself when studying. Studying for 20-30 minute bursts is great – focus on 3-4 key topics and then have a break. Few people like studying so reward yourself with treats on a regular basis.
Further R05 resources
To find out more about our unique audio books that enable you to fit your learning in around family and work commitments, click here
To access our FREE practice questions for R05, click here
Prepare well and be successful first time. Until the next time.
Ian Patterson
Ex-examiner and author of the CII study texts for CF8, J07 and AF6
CII R0 exam results
Which are the easiest R0 exams?
The latest CII R0 exam results show which are hardest, and which are the easiest. The R0 exam results will be of interest to anyone who is looking to sit these CII exams so go into them with your eyes open.
Are all the CII R0 exams the same style or format?
You could be forgiven for thinking that this should be a straightforward question. It isn’t. Some of the variation in pass rates is not solely due to the subject matter, but how it is examined.
Only R05 (Financial Protection) use just the standard format multiple choice question. This means that you will be given a question followed by four options and only one of these will be correct. R06 (Financial Planning Practice) is a written paper without a single multiple choice question to be seen anywhere. In addition, the R06 case studies are issued 2 weeks before the exam so the examiners expect you to prepare and read-up around on the potential technical areas that are likely to be tested before the exam.
The other subjects – R01, R02 R03 and R04 all use the standard format multiple choice questions, and the much harder variant – the multiple response question. So how does this format of question differ? Instead of four options, you will get usually 5 or 6 options and more than one answer will be correct. To get a mark, you have to identify all the correct answers.
R07 (Advanced Mortgage Advice) is not covered by this analysis.
What are the CII R0 exam results?
Here are the results for 2022 (the latest available):
R01 – 68% (-1% on the previous year)
R02 – 70% (+5% on the previous year)
R03 – 54% (-3% on the previous year)
R04 – 57% (No change on the previous year)
R05 – 78% (No change on the previous year)
R06 – 71% (-3% on the previous year)
What conclusions can we draw from this?
First of all, most of the 2022 pass rates are worse than those for 2021. As these are very established exams that have been sat by 1000’s of people, this suggests that they are not as well prepared as they have been in the past.
R01 – Financial Services, Regulation and Ethics.
In terms of CII R0 exam results, this is the third hardest R0 exam. This is partly because the regulations side of things – particularly to people new to the profession – is quite wide ranging. Many students find the content on the FCA a little dull. The exam also has 100 questions and 13 of these are those pesky multiple response questions. This makes the exam harder.
For many people, this will be the first R0 exam they complete. As some of the content on products and legal aspects are also covered in more depth in the other R0 exams, this is a sensible strategy.
Click here to get a students point of view of R01.
R02 – Investment Principles and Risk.
This is the forth hardest exam statistically although there will be many people who would say it is harder than this. Again, the syllabus is huge and you will need to get your head around it. Like R01, this exam is also 100 questions but 28 of these are multiple response. Many people regard a 50% success rate with this type of questions as being good going. So you can start to see why it is a difficult exam.
Click here to view the 5 myths of R02.
R03 – Personal Taxation.
Statistically, this is THE hardest exam. There are 50 questions and 11 of these are multiple response questions. With R03, you won’t be leaving the exam early! Of all of the R0 exams, this is the one that is most likely to put you under time pressure. There is a lot to do in an hour so you need to be well prepared and practised at answering calculation questions.
Click here to view the 5 myths of R03.
R04 – Pensions and Retirement Planning.
In terms of CII R0 exam results, this is the second most difficult exam. Like R03, it’s a one hour exam, there are 50 questions and 11 of these are multiple response questions. The challenge with R04 is the subject matter – pensions is a subject that causes confusion for many new and more experienced people alike. Unfortunately, you’ll struggle to get through this without a decent knowledge of the HMRC rules such as annual allowance and the transitional protections.
Click here to view the 5 myths of R04.
R05 – Financial Protection.
From the hardest exam, to the easiest. For some people, this is a good place to start their R0 exam journey. There’s still a broad syllabus but protection products such as critical illness and income protection are relatively straightforward. And, of course, there are no multiple response questions. That said, you’ll still need to have some knowldege of subjects like state benefits, and long term care so it isn’t all plane sailing.
Click here to view 10 free R05 practice questions
R06 – Financial Planning Practice.
The statistics say that this is the second easiest R0 exam. It is, but only if you get your head around the technique that you will need. This is a written exam that is based on two case studies that are issued 2 weeks before the exam. I’ve met very few people who walked out of this exam thinking they’d failed yet 29% still do. Be prepared to not only put in some hard yards in the two weeks before the exam, but also before then.
Click here to access our MP3 material which looks at past R06 questions.
If you want our thoughts on what is the best order to sit your CII R0 exams, click here
If you want to know more about our R0 exam audio books, click here
If you want to access or study and revision hub (which has lots of R0 exam-specific articles, click here)
Prepare well and pass first time.
Ian Patterson
Ex-examiner and author of the current CII CF8 J07 and AF6 study texts
CII R05 exam: FREE practice questions
Are you revising for the CII’s R05 exam? Know someone who is? Want to test your R05 knowledge? Then read on…..!
We’ve put together 10 multiple choice questions for you as a taster of what you can expect in the R05 exam. This exam has a pass rate of 78% which makes it the easiest CII R0 exam.
That said, you should still expect to be tested on areas such as state benefits, general insurance products such as PMI, long term care and business assurance so just about everyone will still need to brush-up on the more unfamiliar elements of the syllabus.
Click here for the CII R05 exam syllabus. Be aware. The number of questions you will get in the exam are NOT spread equally across the syllabus.
We’ve helped over 6,000 people prepare for the CII R0 exams over the past 12 months. We don’t sell multiple choice questions but we are here to help as much as we can with your R05 exam.
Now, onto the practice questions. See how well you do on these. You’ll find the answers at the end of the post.
R05 questions
All figures are based on the 2024/25 tax year.
1. John is worried about providing an income for his family if he is unable to work through accident or sickness over the long term. Which protection policy would be MOST suitable?
A. Personal accident and sickness
B. Accident, sickness and unemployment cover
C. Critical illness
D. Income protection insurance
2. Usef, age 68, recently had a stroke and he now needs supervision. Which state benefit will he qualify for as a result?
A. Attendance allowance
B. Personal independence payment
C. Carers’ allowance
D. Disability living allowance
3. A couple want to arrange life cover to meet an inheritance tax liability whilst keeping costs to a minimum. If they write the policy under a suitable trust, the BEST way of arranging the whole of life policy is:
A. as two single life of another policies
B. on a joint life first death
C. on a joint life second death
D. as two single life policies
4. What tax is paid on the proceeds of an offshore life policy on someone who is a UK resident when it is surrendered?
A. Income tax is paid on the full surrender value
B. Income tax is paid on the amount the value exceeds the premium(s) paid
C. CGT on the full surrender value
D. CGT on the amount the value exceeds the premium(s) paid
5. Ami has just received a £1/2 million lifetime transfer from her father. What type of life policy would be MOST suitable to pay the potential inheritance tax liability?
A. Whole of life
B. Level term
C. Decreasing term
D. Gift inter vivos
6. Here is a description of a benefit provided by an income protection insurance policy: ‘this benefit is paid if someone is unable to return to their previous work, but can undertake some lower paid work elsewhere.’ What is the name of this benefit?
A. Proportionate benefit
B. Recurrence benefit
C. Rehabilitation benefit
D. Waiver of premium benefit
7. The typical survival period on a critical illness policy is:
A. 4 days
B. 28 days
C. 6 months
D. 12 months
8. Mo is concerned about the care and medical treatment he will receive if he loses mental capacity. His current health is deteriorating, but he still has capacity. What type of new arrangement, if any, would be suitable?
A. Power of attorney
B. Enduring power of attorney
C. Lasting power of attorney
D. None. His deteriorating health means that it is too late to make any arrangement
9. Mavis is seeking funding from her local authority in Birmingham towards the cost of her long term care. Her total income is £200 per week and she has assets of £20,000. What would the local authority assess her weekly income as being (before the personal expenses allowance is deducted)?
A. £200
B. £212
C. £223
D. £224
10. With partnership protection, which legal arrangement would NOT normally qualify for IHT business relief?
A. Automatic accrual
B. Buy and sell
C. Cross-option agreement
D. shareholder trust
R05 Resources
Here are some other tips and information that you might find useful:
Click here for tips on how to approach the R05 exam
Preparation tips and exam technique for R05. Click here
Answers: 1: D; 2: A; 3: C; 4: B; 5: D; 6: A; 7: B; 8: C; 9: C; 10: B.
Remember, good preparation is the key. Hope that you found this useful. Until the next time
Ian Patterson
Author of the current CF8, J07, and AF6 CII study texts and ex-examiner
R0 exam: technique
It will hopefully go without saying that if you are sitting a R0 exam – well any exam really – it is also important to know about exam technique.
In a recent conversation, I was told that because most of the R0 exams are multiple choice, there is no such thing as exam technique. I don’t agree with this; technique will still make a difference for many people.
You should look at exam preparation as two parts; what you do before the exam and what you do in the exam itself. I’ll now look at both of these areas in more detail.
Pre-exam preparation
Here are five tips on how to approach your pre-R0 exam preparation:
- Look at the syllabus and the learning outcomes. This covers the scope of the exam and tells you what you should be able to do. It is important because the exam questions are based on the learning outcomes in the syllabus, not the study text. In R01, for example, there are 11 learning outcomes and the number of questions on each one varies from 29 to 2. Each learning outcome is not treated the same way and because of this, some areas should receive more study time than others.
- Study the CII Exam Guide. This is available on the CII website, just Google ‘cii, r01’ or something similar and you’ll find it on the right hand side of the page for each R0 exam. The Exam Guide will give you the opportunity to see a complete exam paper. You should complete this at least twice under exam conditions; at the start of your preparation to establish a benchmark and towards the end to ensure you are ready for the exam.
- Read through elements of the CII study text. Unless you are new to the subject, just focus on the areas you don’t know. Look at the questions within the text and the useful summaries at the end of each chapter.
- Use the RevisionMate knowledge checker practice questions. Many people will get access to these as part of your exam entry. These are based on each chapter of the CII study text and they’re intended to help you check you’ve remember what you’ve read. These are similar to the standard expected in the actual exam so make sure you use them.
- Familiarise yourself with the tax tables. These can be found at the back of an Exam Guide. A lot of information will be provided such as the main allowances, tax rates and the main social security benefits. The exam isn’t really about having to remember this information, it’s about using and applying it. So don’t spend time trying to remember stuff that you don’t need to.
To get a student’s point of view on R01, click here.
In the R0 exam: technique
Now, moving on, let’s look at some tips in the exam itself. If you have revised thoroughly, an R0 exam shouldn’t be a problem. That’s the theory. Although there is not a huge amount of exam technique involved in answering multiple choice questions, most people will drop marks as a result of poor technique. Others will fail the exam because of it.
Here are seven golden rules to remember in a R0 exam:
- Rule 1 – read the question carefully and consider all of the options before attempting to answer. It sounds so basic doesn’t it? But from past experience, we know that candidates often get questions wrong because they didn’t read the question carefully, or didn’t understand all of the options, before answering it. Remember, if information is provided in the question, it’s there for a reason. You will be expected to use it in some way.
- Rule 2 – Pay attention to words in bold type and words in capital letters. For example, negative words will always be in bold capital letters. If is says ‘most likely‘, this means that more than one answer could be correct. So the answer the exam is looking for should clearly be more correct than the other options.
- Rule 3 – do not spend too long on any one question. You will have just over one minute per question. So keep an eye on the time – you should complete 12 or 13 questions every 15 minutes. The R03 exam, in particular, is a challenge to complete in the time available.
- Rule 4 – decide how you are going to attempt the questions before the exam. You can work through all of the questions methodically answering each one in turn, or you may wish to concentrate on those you know best first. It is possible to flag questions that you want to leave and return to them later, but make sure that you leave sufficient time to do so if you use this approach. Use a practice exam paper before the exam to work out what is best for you.
- Rule 5 – if in doubt about an answer, then use a process of elimination. Often one or more of the alternative answers will immediately strike you as being incorrect or implausible. Even if you only have a small amount of knowledge on a topic, you will often be able to eliminate one or even two of the possible answers – and this increases your odds of successfully answering the question.
- Rule 6 – make sure that you answer every question, even those where you have no idea of the correct answer. The law of averages should mean that you get some marks for guessing!
- Rule 7 – if you have time at the end, run through your answers or ‘flagged questions’ again to make sure that nothing has been missed and to check for obvious errors.
Further resources
Visit our dedicated revision hub if you want to access a free video or look at tips on a specific R0 exam. Click here.
If you want to work smarter rather than harder, why not listen to our audiobooks so you can learn on the go. These cover the technical content and also R0 exam technique.
Good luck with your exam and prepare well.
Ian Patterson
Ex-examiner and author of the CF8, J07, and AF6 CII study texts
R0 exams: the power of using the ‘link method’
When studying for your R0 exams, here’s how the ‘Link Method’ can help you
If you’ve ever had a spontaneous thought, triggered by something else; maybe something you see or hear… or a particular smell? You’ll realise that there must be all sorts of ideas connected in your brain that you’re blissfully unaware of, until all of a sudden… out one pops!
It’s how your brain works. Connections. And, contrary to what I was taught many decades ago at school, we now know that the brain continues to make new brain cells and create new connections throughout life. Providing you give it reason to!
If you are revising for your R0 exams, you’ll need to be efficient and effective with your time. The brain learns by associating new information with that which you already know. One popular method that maximises the benefits of this is the link method.
The link method could help you to pass your R0 exams. So what is it? There are three elements to it:
- Break down complex ideas and find substitute words or parts of words to represent them.
- Create vivid mental images of those ideas by using your amazing imagination
- Find associations between those visual images
So lets have a closer look at each step.
Step 1. Substitute words. You’re aiming for a clear and distinct image associated with the idea it’s representing. If the word naturally lends itself to an image you can go straight to the next step. If not, break the word up into syllables and play ‘word association football’, paying attention to the sound blocks, to create memorable pictures associated with those sounds.
In some cases, a list of information may lend itself to you making up a story which includes all of the elements on the list.
It also works if you create an acronym. In the R06 exam, for example, we use the acronym PATHETIC WINE to provide a template to ensure that an answer to to a question covers all the bits that the CII might give you a mark for. In most R06 exams, you’d get around 10% more marks if you SELECTIVELY included the following areas in your answers: Pension death benefits, affordability or budget; taxation; health; emergency fund; trusts; ISAs or National Savings Certificates; capacity for loss and attitude to risk; Wills and guardianship clauses; inheritances that are expected; nomination forms for pensions and ethical considerations.
In the R01 exam, you can remember what makes a valid trust by using SOW: the Subject (beneficiaries) must be clear, there must be an Object (another name for the trust property), and Words. Although there is no particular prescribed form of trust wording, it must be clear that a trust was intended.
2. Vivid pictures. Since you’ll need to build strong connections between the ideas to use the Link Method, you will need memorable images, so don’t go for the obvious. Instead, go for something that stands out. At the very least, make sure that it’s an odd colour, bigger or smaller than normal. Make it outrageous, rude, exaggerated, funny etc etc, because we know that it’s more likely to stick in your head. This makes it more likely to help you pass your R0 exams.
3. Association. Now you need to imagine the first image doing something to the next image, which in turn does something to the next, etc etc, linking the ideas together like a string of pearls.
Use your imagination and run through the sequence a number of times until you can see that chain of events clearly in your mind, flowing just like a story. If nothing else, try and associate what you are learning with a client or work related scenario that you have, or might encounter.
And that’s the Link Method.
If you want to try our unique R0 exam talking books, click here
If you are interested in exam technique, click here for our video on top revision techniques.
Give it a go and let me know how you get on.
Ian Patterson
Ex-examiner and author of the CII texts CF8, J07 and AF6.
Based on an article by Memory and Mindset Coach, Lysette Offley, Genius Material. Click on the link for other useful study tips and to read the original article.
R0 exam revision: the most important tip ever
With R0 exam revision, you’ll need to retain a wide range of information. Despite numerous tips and techniques that can help study to be more effective, most people find studying for any exam to be hard work. But if you just had to pick just one tip that will make the biggest difference, what would it be? Here’s what gets our vote.
Exercise
I’ll start with an exercise that should make this point. Here are 20 different numbers between 1 and 75. I’ll ask you to look at these for 30 seconds, turn away, and see how many numbers in sequence you can remember. Here they are:
5, 18, 3, 9, 44, 11, 16, 36, 31, 72, 24, 9, 32, 41, 4, 59, 1, 63, 25, 71
How did you do? People tend to remember around six numbers in the correct sequence – typically the first three and the last three. You might have remembered slightly more or slightly less than this. Usually it will be the numbers at the beginning and the end of the list that you’ll remember. So why is this so important?
Primacy and recency
This phenomenon is referred to as primacy and recency. When you take in any information, you tend to remember the bits at the beginning and the end. The bit in the middle becomes a blur or gets forgotten. And this is something that we all do. If you are studying for an R0 exam, how can you use this valuable insight?
Small chunks
At the Patterson Group, we believe that exam success is about working smarter and not harder. And this is why this principle is so important. When revising, you can use this. Let me explain. Many people tend to block out a prolonged period of time to revise, often close to the exam date. Most people will have done at least some ‘cramming’ in the past. But just how effective is it?
The following diagram looks at concentration levels and how these change with time.
The important thing to remember is that it’s not how much study you do, but how much information you retain as a result. If we apply primacy and recency to this, it suggests that a two hour block of revision is unlikely to be effective for most people. Like the exercise you’ve just done, you are likely to remember the beginning and the end, and some bits in the middle. That’s great for the 15 minute periods at the start and end. It also means that much of the 1 ½ hours in between is wasted for most people.
What does good look like?
Now, you might know people who are good at cramming. If so, they are either gifted, or they probably still break their revision into smaller chunks. In other words, it’s not a solid undiluted period of revision – but a two-hour period with a number of breaks built in. It’s these breaks that are important. We would recommend a 10 minute break every 20-30 minutes of study. And when we say break, it should be just that. Walk around, talk to people, listen to music – anything; but give your brain a break from your R0 exam study. Give yourself a proper break; give yourself regular breaks.
How does this impact on your concentration levels? If we look at this as a diagram, it should look like this:
You are still benefiting from primacy and recency. By studying for shorter periods, you’ve managed to cram more beginnings and ends into the your study time. As a result, your overall level of concentration is that much higher and you will remember more. More learning and the same amount of study time. What’s not to like?
20 minutes of study isn’t worth it
This is a comment we hear regularly. And nothing could be further from the truth. 20-30 minutes is probably the optimum period of time. You get high levels of concentration and better retention. Part of this is due to concentration levels being maintained. Part of this is also due to the fact that you will probably only focus on two or three core concepts in this period of time. The brain likes small chunks of information nearly as much as having short study periods.
We are the leading producer of audio R0 exam material and we are convinced that small chunks are best. Our R0 exam audio material allows you to learn, in small chunks, fitting it in around the rest of your life. Simple and effective.
Click here to see why over 6,000 people have bought this study material over the last year.
There are, of course, plenty of other tips that can help you to work smarter and not harder. If you like what you’ve read, we have partnered with the leading learning specialist – Genius Material. There’s plenty more to learn about being studying effectively. We’ll look at these in subsequent blogs.
Click here for:
R01: a student’s point of view
Blogs on other subjects are also available. Click here for details
Prepare well and be successful
Ian Patterson
Ex-examiner and author of the current CII study texts for CF8, J07 and AF6
When preparing for a CII R0 exam, what can you learn from the England football team?
Today is the 5th July 2021. Whatever happens in the remainder of the 2020 European Cup, it’s already been a good competition for the England football team.
We even managed to beat Germany. Dare I believe that we will cope well with penalties this time around if we need to? It feels like a different England side and, in many ways, it is. Forget about the youthfulness of the side or the formation used by the manager. The real difference is the team’s mindset and their preparedness.
There are some lessons here for anyone who is preparing for a CII R0 exam.
England taking penalties: the history
When it comes to England and penalty shoot-outs, it usually ends in tears. Before England defeated Colombia on penalties to reach the quarter-finals of the 2018 World Cup, England hadn’t won a shoot-out at a major tournament since 1996. They had never won a penalty shoot-out at a World Cup. Despite winning against Colombia, England still have the worst penalty record in senior world football. They have lost three out of four World Cup penalty shoot-outs.
Despite this awful record, there is a widely reported fact that would make any England football fan incandescent with rage. Most of the England teams historically did not practice taking penalties. Apparently they aren’t worth it because it’s impossible to replicate the pressure they face in a real game.
England taking penalties: what’s different this time?
Gareth Southgate has put an end to this nonsense. He has selected players and insisted that they practice taking penalties. To make it as realistic as possible, this practice takes place at the end of the normal practice session when the players are most tired. After all, in the real thing, you won’t usually go to penalties unless you’ve been running around for at least 120 minutes and are tired. In addition to this, all the players now have a routine. So even when under the greatest of pressure, they are able to replicate what they do on the practice ground.
You only have to look at Harry Kane to see how he holds the ball and carefully places the ball on the penalty spot. He then picks non-existent mud out of his studs, adjusts his left sock, takes three steps back, picks a spot, and then scores. All of this is fully rehearsed, practised, and perfectly executed (at least up until now!).
Finally, all of the England penalty takers have apparently been psychologically profiled to see how they stand up under the pressures of a penalty shootout. All in all, he hasn’t left anything to chance – and so far it’s worked.
What about preparing for a CII R0 exam?
What can we learn from this when preparing for a CII R0 exam? The simple message from the England football team is that success starts on the practice ground. When sitting a R0 exam, your practice pitch is what you do when you are studying. So you have to get this right and not leave anything to chance.
Whether you are sitting R01, R02, R03, R04 or R05, you will need to successfully answer enough multiple-choice questions to pass. It is a surprise to me that so many people who sit these R0 exams don’t do enough of this. They either leave exam practice until the last minute (when they feel they are fully prepared), or don’t practice at all. The danger is that this is preparing to fail.
Preparing for a CII R0 exam: what do we suggest?
- If you already have some industry experience on the subject that you are sitting, then sit the CII exam guide at the start of your revision. Whether you are sitting R01, R02, R03, R04 or R05, you will get the exam guide when you enrol for your exam. Sitting this at the start of your revision might be a painful experience, but it gets you used to the style of the exam. It will reinforce what you know and identify where the gaps in your knowledge are.
- Sit this exam paper again around a week away from your exam sitting. This makes sure you sit the CII exam guide at least twice. There is nothing else that is available that is likely to be as close to the standard in the actual exam that you will sit.
- In addition, most people will also automatically get access to the CII RevisionMate multiple-choice Knowledge Checker questions. Although these are intended to test your learning, these aren’t a million miles away from exam standard. So make sure that you use them.
- Make sure you attempt as many other additional practice questions as you can. These can be purchased from various training providers. Additional question packs are also available from the CII for R01, R02, R03, R04, and R05 for a relatively small additional cost. In our opinion, these are well worth the money.
The emphasis here is the need to complete practice questions under exam conditions. You might have noticed that nowhere, so far, have I talked about reading the study text from cover to cover. I accept that somebody with relatively limited experience of a R0 exam subject matter may need to read some of the study text first. For everyone else, we believe that the best way to prepare for the R0 exam is to practice as many questions as you can (using the study guide as a reference source to understand where mistakes have been made).
As the England football team have found, success is about investing time in what really matters. Success in your exam will be driven by not only how hard you work, but how effective it is. Practice makes perfect – and its surprising how many teams that practice hard manage to win things. The same applies to the R0 exams….
Click here for a link to our unique audio material (only to be listened to when the football isn’t on!).
Prepare well and be successful.
Ian Patterson
Ex-examiner and author of the study texts for CF8, J07 and AF6.
CII R05 exam: the 5 myths
Here are five common myths about the CII R05 exam. Like any exam, it helps if you understand the type of exam it is. If you want to pass R05 the first time, why not read on and make sure you go into the exam with your eyes open.
Myth 1. You should complete the R0 exams in sequence.
Yes, you could. But we don’t recommend this because there isn’t a huge benefit of doing so. There isn’t much significant overlap between the different R0 subjects. So this begs the question: ‘what order should I sit them in?’ If this decision is up to you, our recommendation is that you:
- complete the subjects in the areas that you are most comfortable with first. If you work in a practice that does a lot of pensions work, you might as well start with R04 if this is something you are familiar with. Failing this;
- do R05 first!
This is based on a very unscientific observation that most people find the CII R05 exam relatively easy. A more objective approach is to look at the pass rates which show R05 to be the easiest R0 exam (R01-6 inclusive). The latest published results for the CII’s R05 exam show a pass rate of 78%. If it’s your decision, why wouldn’t you sit the easiest exam first?
Tip: Don’t feel you have to sit this as the last multiple-choice R0 exam you sit. In practice, many people sit it first as there is no serious overlap between R05 and the other R0 subjects.
Myth 2. R05 is easy.
It’s a little difficult to argue against this given what I’ve just said! What I would say is that there is more to a high pass rate than meets the eye. Part of the reason why it is relatively straightforward – compared to R02 and 3 for example – is that there are none of those pesky multiple response questions where more than one answer is correct. It also tests your knowledge of protection which is one of the more straightforward areas of planning. So far, so good.
So what’s the bad news? The vast majority of people will still have to put in some serious study to pass R05 because the exam looks at ‘protection’ in its broadest sense. It can test areas like long term care, social security benefits and general insurance products like PMI and accident and sickness insurance. If you also throw in some business protection, then there are bound to be some areas that you will need to prepare for.
Tip: The CII recommend 50 hours of study for R05. You might need this amount of time, particularly if you are relatively inexperienced.
Myth 3. The CII R05 exam tests each area of the text book with an equal number of questions.
This is definitely incorrect. The R05 exam syllabus is broadly reflected in the chapters in the CII study text. The chapter that is most heavily examined is chapter 4 which has 8 out of the 50 questions in total. Chapters 5, 6, 7, 10 and 11 all have 6 questions each. This means that 6 of the 10 chapters in the text (or syllabus areas) have 38 out of the 50 questions.
As you will need 35 correct questions to pass (or 70%), it is almost impossible to pass the CII R05 exam without scoring well on these chapters.
Tip: If your revision time is short, focus on these key areas. Conversely, spend less time on chapters 1, 2, and 8.
Click here for the link to the R05 exam syllabus.
Myth 4. I need to know about long term care and social security benefits.
It helps, but don’t panic if you don’t. These are probably the two most feared areas in the CII R05 exam. Accept that there will be some questions on these areas but probably not more than 3 to 5 questions in total.
At 24 pages in length, chapter 8 (which looks at long term care) is the second longest chapter. It is usually one of those areas that people are least familiar with. Chapter 4 might have 39 pages, but the exam will also have around 8 marks. If time is short and you have to ‘cherry pick’, spend time on chapter 4.
Another area that is hated by most people are the social security benefits that are found in chapter 3 – there’s soooo many of them! The feedback we get from students is that there are usually only 1 or possibly 2 questions about them in each exam. So again, if you decided not to spend much time on this area, it shouldn’t cost you too many marks.
Myth 5. I should read the R05 study guide from cover to cover.
For many people, this could be the worst piece of advice they ever get. Anyone with some industry experience should already be familiar with elements of life cover, IPI and CIC so you will already know about some of the key content in the CII’s R05 exam. We suggest doing practice questions first, and using the text as a reference source. Sure, you will make loads of mistakes but you will learn from these. Even if you read the text from cover to cover, in isolation, most people will not remember much of it.
If you buy the CII R05 study text, then you automatically have ‘free’ access to the CII’s online RevisionMate system. This provides you loads of practice questions, many of which are just as hard as those you will get in the exam. It also provides you with an exam guide which is a full exam paper.
Tip: Do practice questions on RevisionMate (or otherwise) to get a feel for the level of detail you will need and then use the studying the text to ‘fill in the gaps’ and as a reference source.
Click here for a link to effective revision techniques.
Click here for our blogs covering the other CII R0 exams.
Resources:
If you like learning on the go, click here for details of our audio material.
Until the next time…
Ian Patterson
Ex-examiner and author of the current CII study texts: CF8, J07 and AF6
CII R0 exams: the best order?
The CII R0 exams are a hugely popular way of achieving Diploma status. Some people have no other choice than to sit all six R0 exams; others sit some of the R0 exams to accumulate CII credits towards Chartered status. Either way, it makes sense to think about the order you wish to sit them.
To achieve the CII’s Diploma in Regulated Financial Planning, you’ll need all six (or have credits from previous study). Going through from R01 to R06 in order might not always make sense. Here are the things to consider.
What is the easiest R0 exam?
This is a question we frequently get asked. It’s easy to answer and we’ll show the most recent exam results below. Whether it’s the right question is another matter!
The CII exam results for the main R0 exams in 2021 (the most recent results) are as follows:
R01: 69%
R02: 65%
R03: 57%
R04: 57%
R05: 78%
R06: 74%
There is clearly some variation between the different exams. But R06 is a very different exam to R03 as it is a ‘written exam’ and it is based on a case study that is issued two weeks before the exam.
Based on this analysis, the two easiest exams are R03 and R04 but we would caution against sitting these first. For most people, R04 (pensions) is a complicated area if you are not familar with it through your work. Many find that there are time pressures in the R03 (taxation) exam – you won’t have much time spare at the end!
Having said that, R05 (protection) has the highest pass rate. This is because ‘protection’ is less complex than some of the other areas, is generally more familiar to many students, and the exam does not have any of the beastly multiple-response questions where to get a mark, you have to get each of the options correct.
How do i decide which exam to take first?
We’ve just seen that exam results are a factor, but not the only factor. In reality, many people (especially those new to the profession) sit the R0 exams in order, i.e. they start with R01 and finish with R06. But this doesn’t need to be the case – you can sit them in whatever order you like. Here are our thoughts:
- Sit the subject you are most familiar with first. If you are working for a mortgage firm, you’ll probably be most familiar with protection so R05 might be a good place to start. If you work for an investment firm, you’ll be starting your study with some knowledge of investments (R02). Familiarity with a subject is a great way to ease yourself into the R0 exams. Remember that the syllabus to each subject is broad. Even if you are familiar with an area, there is likely to still be plenty in the exam that you are not familiar with so some study is almost always necessary.
- Don’t feel you have to leave R06 to the end. This tests broad financial planning scenarios. Contrast this with R02,3,4 and 5 which are specific planning areas where the knowledge you’ll need is narrow but deep. R06 will require knowledge that is broad but shallow. The case studies are issued two weeks before the exam so you can prepare on the technical areas that are most likely to be examined in advance which helps immensely. Our audio material gives the types of Q&As that have been asked previously in R06 for each client financial objective. Finally, there are only three R06 exam sittings in 2023 so if you leave R06 to your final exam, and you don’t pass, you will wait months before you can sit it again and get the result. The other R0 exams can generally be sat at any time.
- Regulation is not most people’s favourite topic! If you start with R01, it’s all about regulation (e.g. FCA, AML, GDPR), basic economic and legal background and an overview of financial services and providers. This isn’t what many students regard as exciting so why start with this? Besides, the more experience you gain in the workplace, the more you will inevitably become aware of FCA regulations so it makes sense if you leave this one.
Best order?
Subject to the above factors, here is what we suggest as an order to sit R01 to 6. Other training providers and students will have a different view but here goes…..
R05 – the most straightforward R0 exam with the highest pass rate
R03 – a tough exam but elements of it are also covered in R02, R04 and 6 so the knowledge you get in this exam will help with the other three to some extent
R02 – another tough exam but there is significant overlap with R03, i.e. investment products
R06 – sitting this isn’t really dependent on sitting the other exams first so you can be flexible when you sit it. Dovetail sitting this with when you sit other R0 exams and be aware that it’s only examined three times a year
R04 – leaving this until later on gives you time to prepare (if this is not a subject you are familiar with). It is the joint hardest R0 exam
R01 – you are unlikely to use much (if any) R01 content in the other R0 exams, and you’ve got to do it sometime!
How can we help with your exams?
We provide MP3 study material for R01-6 inclusive. They should be used in conjunction with a study text and practice questions such as the CII’s RevisionMate questions. There’s never enough time to study for exams so our MP3s provide a convenient way of making use of time such as commuting, walking, in the gym… That’s why over 66,000 people have used our material in the past.
We also have a number of blogs for specific R0 subjects to help you pass first time:
Until the next time, prepare well.
Ian Patterson
Ex-examiner and author of the current CII study texts: CF8, J07 and AF6
