A New Solution for RDR

SQA Approved Centre

About the Retail Distribution Review

The FSA's Retail Distribution Review (RDR) aims to raise industry standards by increasing the minimum level of qualification for financial advisers from level 3 to level 4 overall. All current financial advisers who do not meet the overall requirement will need to qualify by the end of 2012.

In order to help Independent Financial Advisers in bridging this gap, Calibrand has developed the Diploma in Professional Financial Advice.

About our Diploma

The Scottish Qualification Authority (SQA) and Calibrand are delivering the Diploma in Professional Financial Advice to meet the requirements of the FSA's Retail Distribution Review. The qualification is purpose built to fulfil the requirements set out by the Financial Services Authority (FSA) and the Financial Services Skills Council (FSSC). It will be awarded by the SQA and submitted to Ofqual on the shared part of Qualifications and Credit Framework (QCF).

The Diploma in Professional Financial Advice is listed on the FSA's Consultation Paper of Retail Distribution Review (PDF) adviser qualifications and recognised as a full qualification.

The qualification is divided up into six individual units:

For the Diploma in Professional Financial Advice, all 6 Units are required. Units from other Awarding Bodies, that cover 100% of the learning outcomes and can be combined with the Diploma in Professional Financial Advice Units to meet a minimum of 37 QCF Credits or 370 guided learning hours, will be accepted towards the diploma.

Study Duration and Materials

It is recommended that a minimum of 390 learning hours are carried out for the full diploma. To support this Calibrand uniquely offers individual study workbooks and practice tests free of charge.

To gain access to our workbooks and practice tests, please register for RDR.

Exam Readiness Process

This process is designed to help you prepare for your examination. If you complete our mock examination and pass with at least 70% you will receive one free re-sit should you fail your actual examination.

Examinations

All units of the diploma are delivered electronically through our powerful e-assessment solution Calibrand Test. Units 1 to 5 are multiple choice based examinations and unit 6 is an essay style examination.

The exam readiness process is only available on units 1 to 5. However, as stated above, each candidate must reach a minimum of 70% in their mock examination in order to qualify.

Unit 6 is delivered electronically through an essay style examination and assessed electronically via Calibrand Marker. Calibrand recommends 100 learning hours for this unit alone.

Examination Locations

Our qualification can be delivered at your work place using our HI-STAK® solution, or at a test centre of your choosing. Our test centre network boasts an expansive coverage of the UK, at the heart of which is Calibrand’s dedicated testing centre for the Diploma in Professional Financial Advice located in Derby, Derbyshire. These examinations are conducted on fixed dates throughout each month, with our Derby test centre being open five days a week from 09:00 to 17:00. Please contact us to book a date for your examinations.

Entry Requirements

Summary Information

Unit title Examination Study
(Guided Learning)
Unit Challenge
Unit 1 - Financial Services, Regulation and Ethics 80 Questions
90 minutes
Multiple Choice
60 Hours
6 QCF Credits
Level 4
65% pass mark
Unit 2 - Personal Taxation 80 Questions
105 Minutes
Multiple Choice
60 Hours
6 QCF Credits
Level 4
65% pass mark
Unit 3 - Investment Principles and Risk 80 Questions
90 Minutes
Multiple Choice
60 Hours
6 QCF Credits
Level 4
65% pass mark
Unit 4 - Pensions and Retirement Planning 80 Questions
90 Minutes
Multiple Choice
60 Hours
6 QCF Credits
Level 4
65% pass mark
Unit 5 - Financial Protection 50 Questions
1 Hour
Multiple Choice
50 Hours
5 QCF Credits
Level 4
65% pass mark
Unit 6 - Application of Professional Financial Advice Electronic case study
short answer
3 hours
100 Hours
10 QCF Credits
Level 4
60% pass mark
Diploma All units as above
10 hrs 15 minutes
390 Hours
39 QCF Credits
Level 4

All examinations are available to be taken on-demand. Study material consists of on-line workbooks, suggested further reading lists, and on-line electronic examinations through Calibrand Test.

If you have any questions regarding our qualification and would like to speak to an adviser then please contact us.

SQA Approved Centre