CF5 Advice

kgb26

Does anyone know if there are any CF5 study days n the South West? I am taking mine in January. I passed CF1-4 first time, and really need to get through this for my job. Is anyone else sitting it in Bristol in January? Is there anyone who sat this recently and can advise on what came up?

TRYHARDER_2

From the messages read so far it seems that loads of respect needs to be shown towards CF5.

Does anyone have ideas on ideal preparation time for this exam.I have registered to sit exam on 26/1/09...low key xmas celebrations unfortuntely

:eek:

quadrantforce

My advice would be to actually work in the industry for at least 6 months before attempting the exam. It's a doddle with real experience, but very difficult (though not impossible) without. It's like driving, just getting knowledge of products etc embedded so you don't think much about it.

(i tried the first time without experience, with a month-odd of part-time revision and failed narrowly. Taking again in January now but have been working since and all the case studies etc i'm getting almost 100%, definately not due to any intelligence! But because i know how to handle the customer situations etc. Oh, and you need good management who regularly provide role-plays, coaching etc, which luckily i have)

TRYHARDER_2

Tks for your advice.

I agree time in the industry is an asset
my background is 9 years as an IFA in South Africa.
Products/tax are really testing my technical skills,very different to SA
im doing this course to be able to advise in the UK.

My strategy will be to spend time summarising products/tax implications and going through the mock papers

Good luck with your exam

kgb26

Can anyone help me? I have a week left before CF5. I have been doing a lot of revision and past papers, and have taken the advice from this site. I have not been able to get any face to face support for this exam, and am struggling with question 2. I cannot seem to hit the CII model answers, and it is taking me ages. Some of the things they suggest seem crazy to me (or is it me). Like an equity ISA for a non tax payer, congrats CII, they are now paying 10% on dividends that they cannot reclaim, and you have effectivley turned them into a tax payer! Or a far eastern equity fund that has a gross yeild of exactly 0%, but was included in the portfolio because the client wanted some high risk investments. DUH? Is it me? Can anyone help me, I am running out of time. Is there a magic formula? I know the principles of all of this, but I cannot seem to apply them quick enough. Does it matter if I do not get their model answer if I can justify my choices? At work it takes more than an hour to build a portfolio using research,synaptics and a portfolio building tool on the beeping computer!!!! Am I just reading too much into it? Can anyone help? Just a few pointers on how to approach this question would be welcome. Yours in desperation.

Aegis

kgb26 wrote: »

Like an equity ISA for a non tax payer, congrats CII, they are now paying 10% on dividends that they cannot reclaim, and you have effectivley turned them into a tax payer!

Whether invested inside an ISA wrapper or not, the 10% tax on dividends cannot be reclaimed. As such, by investing in an Equity ISA you've built in immunity from Capital Gains Tax if the investments do particularly well.

Or a far eastern equity fund that has a gross yeild of exactly 0%, but was included in the portfolio because the client wanted some high risk investments. DUH? Is it me?

Presumably this is an investment for capital growth rather than income. If the fund is made up of accumulation units, then the yield will be zero.

Lokolo

Even I knew the answers to them and I'm thick as **** I'm so proud of myself

Hows your advisor status coming along Aegis?

Aegis

Lokolo wrote: »

Even I knew the answers to them and I'm thick as **** I'm so proud of myself

Hows your advisor status coming along Aegis?

I'll message you some details.

kgb26

Thanks aegis, that is the beauty of having someone to ask! It is obvious now I read the answers. There seems to be so much to take in and I am starting to panic. I am doing at least 1 old paper a day and starting to bang my head against the wall with this portfolio question. Most of the question 1's I am passing, I passed all my previous exams first time including Securities which is a beast, it's the methodology for this 2nd question I am finding hard.

LOkolo, I don't thnk I'm quite as thick as that! Everyone needs to ask what seems like obvious questions when they are learning, and I'm not afraid to ask so have some beepin patience, and respect for those unafraid to ask!!There must have been a time when you didn't know the answer and someone helped you..............:p

Lokolo

Yep! Thats why I have a hugeeee post count