Cefa 3 - Retirement & Protection

keyser123

Hello all,When I did my cemap exam last year some of you folks were incredibly helpful & forwarded me mock exam papers via email.I have my Cefa 3 exam (retirement & protection) in 2 weeks & was wondering whether anyone could forward me via email mock exam papers so I can see how my studying is going.Apologies if I have posted in the wrong forum but I couldn't find a more suitable one.Kind RegardsGraeme. (graeme123@hotmail.co.uk)

dunstonh

You havent posted in the wrong forum but I fear you wont get much luck. Not many sit the Cefa exams (As i think i mentioned before). Over 90% of those sitting the exams use the CII exams which have a different module structure.

I dont know what the modules on the CEFA ones are like specifically but the end result is the same as the CII. The early exams are just information retention rather than application of knowledge. So, as long as you just keep reading and taking it in then you shouldnt have a problem. The later exams are where the application of knowledge comes into play and thats when it starts getting harder.

keyser123

Thanks Dunstonh. I'm pretty confident with Cefa 3 as I've done what you've just suggested. I've been reading and reading the material for the last couple of weeks now. I'm not working so I've been spending 8 hours a day reading. I can pretty much quote the manual word for word now!Did you do Cefa 4? I have that in 3 weeks time and am not as confident for that module as it was a while ago since I did Cefa 2 so I'm going to have to re-read on investments and principles of investments. As well as that I also have to study the cases provided with Cefa 4 and I have to fit it all in within 3 weeks as I ordered the exam almost a year ago. Any advice???

dunstonh

Did you do Cefa 4?

No, like most of the others, I did the CII versions. When I sat them it was FPC 1,2 & 3. Although I am sitting CF2 in two weeks to get an extra 20 points towards the Diploma level. I'm 10 points short otherwise and CF2 is an easy way to get those.

The CII version and CEFA version end up at the same place for certificate level but the modules you sit cover different subjects. So CF2 wont match CEFA 2.

Its too late in your case but for anyone thinking of doing the financial services exams, the CII option makes more sense mainly due to the large numbers that sit them and the ability to share knowledge/info with each other.

keyser123

Once I've done Cefa I'm doing Adv Cemap next. I am doing the commercial mortgages module as a friend told me that's where the money is! I was looking on the website for CII last night and the diploma may be the next step after adv cemap. I was going to do the IFS diploma but I'll compare the CII one as well.I presumed (wrongly) that getting Cemap would open up the mortgage industry for me but to be honest it's made no difference. People aren't really interested in someone who's Cemap qualified with no experience. I reckon with Cemap, Adv Cemap, Cefa and a diploma in finance I'll improve my chances of getting an opening in the industry. What do you think?

daku

hey keyser,

I'm taking my cefa 2 this week, how did you find it??

keyser123

Cefa 2 was ok. I got a Distinction in Principles of investment and a merit in investment products.The problem I have is I took it 8 months ago. I have Cefa 3 on 15th May, I'm pretty confident about that as I've put about 60 hours study in so far and know the manual inside out. Pensions is quite tricky but from the previous exams I've taken it seems mostly about what you remember. I then have Cefa 4 on May 30th so I have 2 weeks to re-study Cefa 2 and look at the test cases for Cefa 4. As I'm not working at the moment I enjoy putting plenty of hours in studying (about 8 or 9 hours a day). I'm confident I can get through the exams on what I know now but I'm going for high grades as I think they look better on my CV. It may be a little egotistical but I had no luck finding a job with Cemap so I need as many exams as possible to get a break I feel. Good luck in your exam.BTW, Cefa 3 is probably harder than 2 as the manual is almost twice the size. From what I remember principles of investment is about 100 pages and the products about 130 pages. With Cefa 3 the protection section is 312 pages and pensions 160 or so.I think I have some mock test papers for Cefa 2 if you want me to email you them? Problem is they are from last year so the rates etc won't be the same.

keyser123

Some parts of Cefa 3 are pretty straightforward some not so. I'm confident for the exam but no so for Cefa 4 as putting it into practice is harder than just memorizing what I've read.

daku

thanks keyser,

I'm just a little worried as I haven't really prepared for it, just trying to cram all the study in now!!

Good luck with part 3.

keyser123

Good luck, let me know how you get on.Pensions is an absolute nightmare. I am just reading as much as I can. To be honest I find the study material terrible. It doesn't seem to explain this clearly but maybe that's because I don't know it too well at the moment.