CISI Investment Advice Diploma 2026: Units, Pass Mark, Fees

What each IAD unit covers

UK Regulation and Professional Integrity: the UK financial services sector, the FCA, conduct of business and client asset protection, integrity and ethics, financial crime, and redress. In the Version 18 syllabus, financial crime carries the most questions, 21 of 80.
Investment, Risk and Taxation: the second core unit, which every IAD route includes.
Securities: the technical unit for advising on and dealing in securities, FCA activities 2 and 12.
Derivatives: the technical unit for advising on and dealing in derivatives, FCA activities 3 and 13.
Financial Planning and Advice: the technical unit for advising on retail investment products and friendly society tax-exempt policies, FCA activities 4 and 6.

If you already hold a qualification that meets the FCA’s standard, you can add another specialist area by passing just its technical unit, without the core units again. CISI says the IAD suits people advising or dealing in securities or derivatives, advising on retail investment products, or managing investments.

What is the pass mark for the CISI Investment Advice Diploma?

CISI’s sample papers for UK Regulation and Professional Integrity (Version 18), Investment, Risk and Taxation (Version 16) and Securities (Version 16) each score 56 to 80 as a pass and 0 to 55 as a fail, which is 70%, with no merit band. CISI’s Diploma in Investment Compliance factsheet also gives 70% as the pass mark for UK Regulation and Professional Integrity. CISI shows each unit’s live pass mark and pass rate when you pick the unit on its IAD page.

Results for these multiple-choice exams come through MyCISI, as the overview explains.

How CISI exam results work →CISI sample papers and mock exams →

IAD exam fees

Item	Fee
Exam fee, each IAD unit	£304
CISI workbook, each unit	£105
Exam, workbook and Revision Express together	£424

CISI’s total for the whole diploma is on the cost page.

Total CISI qualification costs →Resit rules for multiple-choice exams →IAD courses from training partners →

Exemptions, new syllabuses and what comes next

CISI’s IAD factsheet says it grants exemption from one of the two core units to holders of suitable qualifications from CFA Society of the UK, the London Institute of Banking & Finance (LIBF) or the Chartered Insurance Institute (CII). The workbooks page shows each IAD unit’s syllabus version and when the next one starts.

Passing the IAD makes you eligible for Associate membership of CISI and the letters ACSI. If you give retail investment advice, you’ll also need a Statement of Professional Standing (SPS) each year.

Syllabus version changeover dates →The CISI Statement of Professional Standing →CISI membership grades →

Sources: CISI · FCA Handbook · Ofqual and 8 more. Checked October 2026.