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CeFA exam questions

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  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    lcharm wrote: »
    What about the DipFA? This is what i was informed was one of 2 Diplomas (other is with CII) which all financial advisers must have by 2010 to be able to practice? And it is an IFS qualification which is £500 to register with them anyway (as opposed to £135 for each CeFA.

    http://www.ifslearning.ac.uk/qualifications/courses/dipfa.cfm

    I was also told that if you go down the CII route then you are bound by their exam schedules whereas with CeFA you do the exams as and when you're ready?

    I'm only on the CeFA 1 stage so far got my first exam on Monday!

    The DipFA is very new, so how well it is recognised within the industry remains to be seen. In addition, there seems to be much less flexibility for picking the subjects you wish to specialise in, and the IFS doesn't provide an equivalent to the Advanced Diploma or the Chartered Financial Planner status that can be attained by going down the CII route.

    Maybe it will all be fine with the IFS, but at the moment they seem to be more limited than CII with regard to continuing professional development.

    Best of luck with the exam!
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • lcharm
    lcharm Posts: 633 Forumite
    Thanks mate!
    Just found this article
    http://www.ifaonline.co.uk/public/showPage.html?page=ifa2006_articleimport&tempPageName=810419
    As far as I'm concerned as long as it has the Level 4 accreditation and it meets the FSA requirements then i'm happy ;)!
    Minds are like parachutes - they only function when open.
    - Thomas Dewar
  • icy
    icy Posts: 8 Forumite
    I phoned the Cii and asked them about transfering across IFS Cefa modules in order to study for the Cii diploma exams. They charge £1 for each point/unit gained. I think Cefa 1 is worth 15 units/points and cefa 2,3 and 4 are each 20 units. So around £75. This doesn't see too bad to me. When I have my Cefa and I have a little experience behind me will then make a decision on whether to stay with the Ifs or mover over to the Cii.
  • dunstonh
    dunstonh Posts: 119,638 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Remember that you only have until 2012 to get the diploma exams. So, make your decisions soon. Ideally, you want to be sitting at least 1 diploma exam next year, if not 2.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Hello Everyone, I can't contribute to the stuff here but thought I'd say hello.

    I'm doing my CeFA 2 on Wednesday (Did CeMAP last year). Would be good to exchange information with others in a similar position.

    At the moment I'm passing the mock papers but if CeFA is any thing like CeMAP then the questions in the exam will be weirdly phrased with ambiguous answers! I'm not looking forward to it :(
    Trying to only spend money when I absolutely have to.
    Barclaycard: £4559-1500 = £3059 (Will have £900 to add to that end of September)
    Loan from Friend = £2000
  • dunstonh
    dunstonh Posts: 119,638 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    At the moment I'm passing the mock papers but if CeFA is any thing like CeMAP then the questions in the exam will be weirdly phrased with ambiguous answers! I'm not looking forward to it :(

    Yes. The exams have always been full of double negatives and responses which could see multiple answers as being right but they are looking for the most right.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • lcharm
    lcharm Posts: 633 Forumite
    I have my Cefa 1 today and i'm bricking it!

    I've only had 3 mock papers available which I marginally failed before but i aced them all now with 90%+ but not sure how much of that is down to memory of the questions or my knowledge itself.

    Oh well, we'll find out in a few hours anyway!
    Minds are like parachutes - they only function when open.
    - Thomas Dewar
  • icy
    icy Posts: 8 Forumite
    I passed Cefa 3 this morning and I have now registered for Cefa 4.
    I am interested to know how long most people leave between passing Cefa 3 and sitting Cefa 4. Technically, there is no new material to learn I just need to prepare myself further to deal with the case studies.

    Aegis - or anyone else with relatively recent experience, what would you recommend? Any advice would be appreciated.
  • dunstonh wrote: »
    Yes. The exams have always been full of double negatives and responses which could see multiple answers as being right but they are looking for the most right.
    Thanks, that's what I did this morning and it seemed to have worked. Now for CeFA 3.... in three weeks, can it be done???? Watch this space. My boss didn't react badly when I put that out as a suggestion... Also booking CeFA 4 not soon after. Thinking CeFA3 on a Wednesday and CeFA 4 the following monday.
    Trying to only spend money when I absolutely have to.
    Barclaycard: £4559-1500 = £3059 (Will have £900 to add to that end of September)
    Loan from Friend = £2000
  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    icy wrote: »
    I passed Cefa 3 this morning and I have now registered for Cefa 4.
    I am interested to know how long most people leave between passing Cefa 3 and sitting Cefa 4. Technically, there is no new material to learn I just need to prepare myself further to deal with the case studies.

    Aegis - or anyone else with relatively recent experience, what would you recommend? Any advice would be appreciated.
    I would personally jump right in as long as you're happy to familiarise yourself with the case studies. As you've pointed out, there's no new material, so letting yourself forget anything might end up being a bad plan!
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
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