Appropriate Exam List

Due to the review of the T&C sourcebook, the wording and numbering of the FSA regulated activities below have had some minor changes.

For further information, please visit the TC Appendix 1 on the FSA website.

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Important Notice

Due to the large amount of appropriate examinations on the Appropriate Exam List, some of which are no longer available, the FSSC has decided to archive a number of these appropriate examinations for the majority of the regulated activities below.

These examinations will remain appropriate examinations but will be accessible at legacy qualifications.

This will allow the user to first view appropriate examinations that meet the FSSC’s appropriate examination standards (AES) and are currently available.

Recommended Exam List

Due to the disapplication of the appropriate examination requirements for wholesale business (CP05/10 & FS06/1), the Financial Services Services Council (FSSC) has developed a recommended exam list.

The recommended exam list will provide guidance to firms and individuals as to the exams they can take if they wish to. Examinations on the list are offered by awarding bodies subject to a third party quality assurance mechanism and match national occupational standards (NOS) where they exist.

The FSA will take this into account when assessing whether the firm has ensured that the employee has satisfied the knowledge component of the competent employees rule for those common platform and non platform firms (SYSC 3.1.10 G & SYSC 5.1.5A G).

To access the recommended exam list, please click here.

Instructions - please read

To use the list, click on the category below that describes the activity you are undertaking. This will list all the appropriate exams for that activity. Then click on the Key to find out if the exam covers the complete requirement or if you need further exams, eg, if an exam falls under Key 2 you will need to take an exam from Key 3 as well.

You might also find that an exam covers more than one Key, eg, CeFA paper 1 or FPC paper 1 might cover both Key 4 and Key 5. You can also do a search by exam, awarding body, etc.

This list contains those examinations that are designated by the Skills Council as 'appropriate' examinations as from 1 July 2004.

The Skills Council is beginning to publish Standards for Appropriate Examinations. As these Standards are published, awarding bodies will bring forward proposals for appropriate examinations that meet the Standards. When these proposals are accepted, the new examinations will be added to the List, which will continue to be updated as the Examination Review goes forward.

Exam listing

No.	Activity	Activity Number in TC Appendix 1R
1.	Providing basic advice on Stakeholder products excluding a deposit-based stakeholder product	1
2.	Advising on (but not dealing in) Securities (which are not stakeholder pension schemes or broker funds)	2
3.	Advising on (but not dealing in) Derivatives	3
4.	Advising on Packaged products (which are not broker funds)	4
5.	Advising on Friendly Society life policies where the employee is not reasonably expected to receive a remuneration of greater than £1000 a year in respect of such sales	5
6.	Advising on Friendly Society tax exempt policies	6
7.	Advising on Long-term care insurance contracts	7
8.	Advising on investments in the course of corporate finance business	8
9.	Advising on syndicate participation at Lloyd’s	9
10.	Acting as a Broker fund adviser	10
11.	Acting as a Pension transfer specialist	11
12.	Advising on, and dealing with or for clients in, Securities (which are not stakeholder pension schemes or broker funds)	12
13.	Advising on, and dealing with or for clients in, Derivatives	13
14.	Managing investments	14
15.	Overseeing on a day-to-day basis operating a collective investment scheme or undertaking the activities of a trustee or depositary of a collective investment scheme	15
16.	Overseeing on a day-to-day basis safeguarding and administering investments or holding client money	16
17.	Overseeing on a day-to-day basis administrative functions in relation to managing investments - (i) arranging settlement; - (ii) monitoring and processing corporate actions; - (iii) client account administration, liaison and reporting. including valuation and performance measurement; - (iv) ISA, PEP or CTF administration; - (v) investment trust savings scheme administration	17
18.	Overseeing on a day-to-day basis administrative functions in relation to effecting or carrying out contracts of insurance which are life policies: - (i) new business administration; - (ii) policy alterations including surrenders and policy loans; - (iii) preparing projections; - (iv) processing claims, including pension payments; - (v) fund switching	18
19.	Overseeing on a day-to-day basis administrative functions in relation to the operation of stakeholder pension schemes: - (i) new business administration; - (ii) receipt of or alteration to contributions; - (iii) preparing projections and annual statements; - (iv) administration of transfers; - (v) handling claims, including pension payments; - (vi) fund allocation and switching	19
20.	Advising a customer on a regulated mortgage contract (for a non-business purpose)	20
21.	Advising a customer on Equity release transactions	21
22.	Designing scripted questions for non-advised sales on Equity release transactions	22
23.	Overseeing non-advised sales on a day-to-day basis on Equity release transactions	23
24.	Advising on Non-investment insurance contracts	24

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