CISI Investment Management Certificate 2026: Units and Fees

The two units

CISI’s factsheet describes each unit as a two-hour multiple-choice exam and recommends 140 hours of study for each.

UK Regulation and Professional Integrity is shared with the Investment Advice Diploma (IAD), whose page has its question split and pass mark. Investment Management is the technical unit, testing your understanding of investment management in a range of analytical scenarios. Edition 4 of its workbook covers exams up to 19 September 2027, and the workbooks page has the date the next version starts.

UK Regulation and Professional Integrity in the IAD →Syllabus version changeover dates →

Is the CISI investment management certificate the same as the IMC?

No. The IMC is a CFA Society of the UK qualification. The Financial Conduct Authority’s (FCA’s) appropriate qualification table lists both for managing investments and acting as a broker fund adviser (activities 14 and 10), and gives each the key 1 for those activities.

CFA or CISI: the FCA’s lists compared →

Investment Management fees

Item	Fee
Exam fee, Investment Management	£302
CISI workbook	£105
Exam, workbook and Revision Express together	£422

The regulation unit is priced on the IAD page, and CISI’s total for the certificate is on the cost page.

Total CISI qualification costs →

After the certificate

Passing it lets you join CISI at Associate level, with the letters ACSI. CISI’s factsheet names the Level 6 Diploma in Capital Markets as the next step on its capital markets pathway. The FCA’s table also lists CISI’s Level 6 Certificate in Private Client Investment Advice & Management for managing investments.

Every CISI qualification by level →CISI membership grades →

Sources: CISI · FCA Handbook · Ofqual and 3 more. Checked October 2026.