What to Expect from the R01 Exam | How to Become an IFA

Breaking down the R01 exam in my 'How to Become an IFA' series. Helping you to understand what to expect from the textbook, content and exam in the first of the R0 examinations.

To clarify, the exam is 2 hours long and consists of 100 questions = 72 seconds per question.

Where I state 'X standard format questions OR X multiple response questions' this should say 'X standard format questions AND X multiple response questions'.

My 'How to Become an IFA' series looks at what do you need to do to become a fully qualified Independent Financial Adviser (IFA) in the UK. I've been asked this a lot recently so I thought I'd share my experience with you. It's a great career path and an industry that is really in need of some young blood so why not get stuck in!

Chapters
00:00 Intro
00:32 What is R01?
01:07 Studying tips
01:27 Textbook formats
01:51 Syllabus outcomes
03:09 Standard format questions vs multiple response questions
03:42 Syllabus outcomes resumed
04:29 More studying tips
05:28 Exam tips
07:40 Outro

#financialadviser #ifa #financialplanner

Who Am I?
I am a fully qualified Independent Financial Adviser on a mission to make financial advice more accessible to all. Working at Horlock Holdcroft Financial Consultants Ltd, I am qualified to advise in all areas of financial planning including pensions, savings, investments and protection.

My Credentials
Diploma in Regulated Financial Planning
Currently working towards becoming Chartered

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If there are any other topics you would like to to talk about, please let me know in the comments.

DISCLAIMERS
The content of my videos is for information only and does not in any way constitute advice or a recommendation to act. If you wish to take action based on what you have seen in my videos then please seek independent financial advice first. The aim of these videos is to provide you with factual information only.

Investment carries risk and capital invested can go down as well as up - you may not get back the full capital invested.

Opinions are my own.

Horlock Holdcroft Financial Consultants Ltd is authorised and regulated by the Financial Conduct Authority.

[ebs]

Thanks, this video really helped me. I took the exam last week and passed. I'm onto the next one now.

[calumblair]

Thanks for the video Louise. Just started studying for RO1 with no background in finance, I'm excited and anxious but keeping positive!

[FinanceDee]

Awesome video! Just finishing up the R01 textbook and going to prepare for the exam in the coming weeks :)

[jacharakis]

I just started studying R01, and I guess I'm just so excited, that I find it interesting and not dry. When you said dry, I came to the defence of the stuff I'm learning, lol. Exams in a few weeks...

[richardsuchorzewski]

Very nicely presented and clear. Much obliged.

[MrSluby]

Just booked my R05 exam for next month, completed my R02 last year. Think I've been putting R01 off a bit haha. thanks for the videos on the exam! Only place I can find relevant information about the CII exams on YouTube at the moment.

[alexanderef]

I'm so glad i've found this channel! I'm in my final year of studying Law and graduating in May hopefully into the finance sector and financial advising has really piqued my interest, and so this channel has been incredibly useful. I'm trying to get a meeting set up with the principal of a financial services firm near where I'm based, and your content is really helping me get a firm understanding of the industry before I manage to get some of his time. Have you got any advice on how I could impress? Thanks!

[jamiewalker]

Thanks for the Great video!

How similar are the questions in the wizard learning bank to those in the main exam?
Keep up the great work 👍

[therangemen]

Hi, great video, very helpful, I'm currently studying for R01, using the book and then following up with revision mate to solidify as best i can. Do you know where to access a large bank of questions? I feel like having hundreds of questions to work through would actually be the best thing to revise after you have covered the book.
Many Thanks,

[DeclanHewitt]

Thanks for the video, Louise. I've got my R01 exam booked in 2 days. I've always been interested in finance and I decided to go for it this year and work on changing my career to into some form of paraplanning, financial adviser role.

I am nervous for it as there are so many different topics that this exam covers (different life insurances, government benefits, trusts, inheritance tax, FCA, PRA, FPC, acts, regulations, legislations, EU directives, principles etc!)

When you pass R01 and the other R0's, would you put on your CV what percentage you got or would you just state that you passed the exam? I know the R01 pass mark is 65%, which is 65 questions correctly obviously, but there is a big difference between just squeezing through with 66% and getting a really good mark into the late 80's for example. I think this is putting pressure on me as well; not just passing but by how much I pass by as well haha!

[gemibrahim]

Hi Louise, these videos are great and really helpful. Out of curiosity which of the R0 exams did you find the most challenging?

[antoniodim]

Hi Louise, very useful. For the text books, do we buy them only via the CII website or there is another source (rg used or Amazon)? It mentions for R01, £250 for member and £342.37 for non members. Is it worthy to become a member before we book exams? Was it 80£ the membership annually, if you remember? As I understand from your comments above the provided text books are enough to pass. Thank you!

[JakeAndersonFitness]

Hi Louise! Hope you're well.

I'm exploring a possible career change as an IFA and your videos have been really helpful. My backround is in sales and from the research i;ve done there seems to be a lot of transferable skills that employers would value highly as an IFA, such as people skills & relationship building. One thing that concerns me is that I never completed my A levels and actually left school at 16, and i'm wondering if I self studied, passed the exams and applied to firms, would they care that I didn't go to university and didn't graduate secondary school?

Thanks for your insight!

[benjy]

Hi thanks for the video, it was very informative. Out of curiosity, would you recommend the package including the additional revision aids or will the study text suffice.

[lensofequilibrium]

Hi Louise. Thanks for the video.Are there any good online resources in terms of past or mock papers for the r0 exams?

[yomiola]

Hello I just wanted to know if paraplanners and financial planner in uk get paid a salary or commission only or both

[harrisonwhite]

Hello Louise, what is your opinion on the CISI's IAD vs the CII Diploma in regulated financial planning?

[yomiola]

Can you please tell me how to gain access to past exam questions like a mock test on r01 exam standard questions

[rroderzz]

I’ve just started my R01, how long did it take for you to study and then book/complete your exam?

[svdw]

I've been looking to do the R01 with CII. I see that there is an option unit (FA1 & FA2). Are these essential or are the more specialist courses?