The Solution for RDR

About the Retail Distribution Review

The Financial Conduct Authority'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.

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

About our Diploma

Caliqual is delivering the Diploma in Professional Financial Advice to meet the requirements of the FCA's Retail Distribution Review. The qualification is purpose built to fulfil the requirements set out by the Financial Conduct Authority (FCA).

The Diploma in Professional Financial Advice is listed on the FCA's Consultation Paper of Retail Distribution Review 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 will be accepted towards the diploma. For a detailed list of all accreditation of prior learning (APL) that we accept against our units, please view Transferring Credits to Caliqual.

Study Duration and Materials

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

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

Examinations

Units 1 to 5 of the diploma are delivered electronically through our powerful e-assessment solution Calibrand Test. They are multiple choice based examinations.

Unit 6 is a paper-based, case study/ essay style examination. Caliqual recommends 100 learning hours for this unit alone.

Examination Locations

Our test centre network boasts an expansive coverage of the UK, at the heart of which is Caliqual’s dedicated testing centre for the Diploma in Professional Financial Advice located in Derby, Derbyshire. These examinations are conducted on fixed dates and times throughout each month, with our Derby test centre hosting exams every fortnight. Please contact us to book a date for your examinations, or head over to our online exam schedule where you can view all upcoming exam dates and make a booking directly through the system.

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 Level 4
65% pass mark
Unit 2 - Personal Taxation 80 Questions
105 Minutes
Multiple Choice
60 Hours Level 4
65% pass mark
Unit 3 - Investment Principles and Risk 80 Questions
90 Minutes
Multiple Choice
60 Hours Level 4
65% pass mark
Unit 4 - Pensions and Retirement Planning 80 Questions
90 Minutes
Multiple Choice
60 Hours Level 4
65% pass mark
Unit 5 - Financial Protection 50 Questions
1 Hour
Multiple Choice
50 Hours Level 4
65% pass mark
Unit 6 - Application of Professional Financial Advice Electronic case study
short answer
3 hours
100 Hours Level 4
60% pass mark
Diploma All units as above
10 hrs 15 minutes
390 Hours Level 4

Study material consists of on-line workbooks, suggested further reading lists, and on-line electronic examinations through Calibrand Test.

Awarding Body

Caliqual have formed a collaboration with Chartered Banker Institute; our awarding body.

What will Chartered Banker Institute do for you?

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

Chartered Banker Institute SQA Approved Centre