Investment, Risk & Taxation (Investment Advice Diploma) Exam

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CISI Exam Quiz 02 Topics Covers:

apply the theory of investment risk and return to the measurement of portfolio performance
understand the main propositions and limitations of the efficient markets hypothesis (EMH)
understand the main principles of modern portfolio theory, the capital asset pricing model (CAPM), its application and limitations
understand the main principles behind arbitrage pricing theory (APT), its application and limitations
understand the types and uses of multi-factor models, their assumptions and limitations
understand how a private individual’s income tax liability is determined using
understand the basis on which National Insurance contributions (NICs) are levied
understand how intestacy rules may apply in England and Wales, and the implications of these rules for estate planning
understand the impact of the rules on residency and domicile and the implications for income tax and CGT
understand the use of double taxation treaties
understand the impact of the rules on residency and domicile on the liability to IHT
understand the application of Stamp Duty and Stamp Duty Reserve Tax to the purchase of securities, including
understand the application of Stamp Duty Land Tax (SDLT), including the main reliefs and exemptions, to the purchase of property
understand how liability to Value Added Tax (VAT) arises and is charged
understand how liability to Corporation Tax (CT) arises and is charged
understand how tax is accounted for and an adviser’s duties regarding tax compliance, avoidance and evasion
understand the need to meet international disclosure requirements under FATCA, CRS and MDR
analyse the criteria for selecting a tax planning strategy
apply the above principles to basic recommendations relating to the taxation of investments and pensions
understand the main types, purposes, common investment characteristics and behaviours of funds, collectives and other products
understand the tax treatment within the fund and for UK investors of income and capital gains arising from collective investments
understand the tax treatment of UK investors investing in offshore funds, including
analyse the charges and pricing of collective investments
analyse the relative merits and limitations of investing in a collective investment fund compared with other forms of direct and indirect investment, in terms of
understand the main types, purposes, underlying structure, common investment characteristics
analyse the relative merits and limitations of investing in exchange traded funds (ETFs) or exchange traded commodities (ETCs) compared with other forms of direct and indirect investment, in terms of
understand the main types, purposes, common investment characteristics and behaviours of
understand when and why borrowing / gearing is used by closedended funds, and the benefits and risks associated with it
analyse the key features, restrictions and tax treatment of ISAs, and child trust funds (CTFs)
analyse the key features, restrictions and tax treatment of National Savings & Investments, premium bonds and investments

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