UNIT 1:

THE INVESTMENT ENVIRONMENTUNIT 2:

INVESTMENT PRACTICE

FAST FACTS

• Thefoundationtoinvestmentcareers

• Usedbyallleadinginvestmentfirms

• Over6,000examssatlastyear

• MeetsFCAregulatoryrequirements

• Createdbyindustrypractitionersforindustrypractitioners

• AvailableacrosstheUKandinternationally

• Efficientcomputertestingwithfastresults

• AsteppingstonetotheCFA

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FULL RECOGNITION IN THE INDUSTRY

Withover6,000examssateachyeartheInvestmentManagementCertificate(IMC)isthemostwidelyrecognisedandbestestablishedqualificationofitskindintheUK.TheIMChasbeenusedbyinvestmentprofessionalsforover15years,andisrunbytheCFASocietyoftheUK.Takenbystaffinleadinginvestmentfirms,theIMCistheprofessionsbenchmarkentry-levelqualification.

TheIMCisaccreditedbytheUKgovernment’sexaminationsregulator(Ofqual)andisrecognisedforregulatorypurposesbythefinancialregulator.Itismaintainedbyateamofexpertpractitionersandhasanestablishedreputationforrelevanceandfairness.

FOUNDATION TO INVESTMENT CAREERS

TheIMCoffersanexcellentfoundationtocareersintheinvestmentprofession.Theprogrammeprovidesessentialbackgroundinmarkets,accounting,economicsandstatisticsbutcoversthefullrangeoffinancialinstrumentsandestablishedapproachestoinvestmentportfoliomanagement.Oncompletionstudentsareabletoidentifyclientobjectives,understandtaximplicationsandtheregulatoryandethicalcontextoftheirwork.

WHO TAKES THE IMC?

IMCcandidatescomefromabroadrangeofbackgroundswithequallybroadaspirations.Thequalificationisgenerallyconsideredappropriateforanyoneenteringaninvestmentrelatedrole.Typicalrolesinclude:

• Investment management and analysis

• Marketing and sales in investment firms

• Investment administration and performance measurement

ESSENTIAL REGULATORY STATUS

TheIMCisusedbymostleadingUKinvestmentfirmstodemonstratecompliancewithknowledgerequirementsofstaffinregulatedroles.Itcontributestothe‘Appropriate’qualificationrequirementsforretailinvestmentadvisorsandisthe‘Recommended’qualificationforinstitutionalinvestmentprofessionalsbytheFCAformanaginginvestments,advisinganddealinginsecuritiesandderivatives.StaffwhocandemonstratecompetencethroughexpertiseorqualificationsgainedoutsidetheUKusetheIMCtomeetrequirementsrelatingtoUKregulation.

APPROPRIATE CHALLENGE FOR STUDENTS AND PROFESSIONALS

TheIMCinvolvesachallengingbutrealisticstudyload.Theprogrammerequires100-200hoursofstudy(dependingonpreviousexperience).Candidatesinfull-timeemploymenttypicallycompletetheprogrammeinthreetosixmonths.

TheIMCisalevel4qualificationontheQualificationsandCreditFramework.Itisanaccessiblegoalforbothundergraduatecandidatesandgraduatetrainees.

SIMPLE FORMAT

TheIMChasasimpletwounitstructure.

UNIT 1: THE INVESTMENT ENVIRONMENT

A1hour40minuteexamconsistingof85multiple-choiceandgapfillquestions.

UNIT 2: INVESTMENT PRACTICE

A2hour20minuteexamconsistingof105multiple-choiceandgapfillquestions.

“Not having any training in finance, I found the IMC to be a broad introduction and a great introduction to the CFA. It’s what originally got me into the CFA.”

Hamish Chalmers, CFA Och-ZiffManagementEuropeLtd

“The IMC is like a driving licence.”

Olaf John InsightInvestment

CONVENIENT AND FLEXIBLE FOR EMPLOYERS AND CANDIDATES

Trainingbyleadingfinancialtrainingcompaniesisavailableallyearroundwithflexibleprogrammesandaffordablepricing.TheCFAUKOfficialTrainingManualisavailabletopurchaseonlineandisdesignedforself-study,providingbroadcoverageofthesyllabus.

TheexamisdeliveredatcomputertestingcentresacrosstheUKandinternationally,mostworkingdaysoftheyear.Flexiblebookingandonlineresultsinthreedaysmeansthatthosewhoneedtoqualifyfast,do.Thosewhoareunsuccessfulcanre-sitquickly.

THE IMC: A MARK OF PROFESSIONALISM

Onsuccessfulcompletion,IMCcandidatescanapplyformembershipofCFASocietyoftheUK,theUK’sleadingassociationof investmentprofessionals.

MembershipofCFAUKdemonstratesyourcommitmenttotheinvestmentprofessionandtothehigheststandardsofethicalandprofessionalbehaviour.Membershipalsoequipsyouwithpracticalbenefitsdesignedtoprovidecontinuingeducation,careersupportandnetworkingopportunities.

A STEPPING STONE TO THE CFA

TheIMCprovidestheidealfoundationforthosewithfutureplansfortheCFAProgram,leadingtoMasterslevelandtheCFAcharter.InmanyleadingfirmstheIMCisusedasanentryrequirementforCFAsponsorship.

IMCcandidatescoversome30%oftheCFALevelIcurriculum.Theydevelopstudyandexamtechniques,andgainahighlyregardedinterimqualificationearlyon

theroadtoCFAcharterholderstatus.ForcandidateswhosefirstlanguageisnotEnglish,theIMCoffersanopportunitytogainconfidenceinfinancialEnglishwithinarealistictimeframe.

FrominductiontoMasterslevel,theIMC-CFArouteprovidesagloballyrecognisedcareerprogressionforinvestmentprofessionalsandtheiremployers.

IMC SYLLABUS

UNIT 1: THE INVESTMENT ENVIRONMENT

• The financial services industry

• Financial markets

• Regulation of financial services

• The regulatory framework

• Code of ethics and professional standards

• Client objectives and investment advice process

• Skills required when advising clients

• The taxation of investments

• Application of personal tax planning to investment advice

UNIT 2: INVESTMENT PRACTICE

• Asset classes

• Investment products

• Derivatives and other instruments

• Investment theories and models

• Investment management principles

• Investment performance measurement

• The macro-economic environment

• Micro-economics

• Statistics and financial mathematics

• Accounting

Fordetailsofthefullsyllabus:www.cfauk.org/imc

“The IMC is a good way for professionals to show commitment to learning and advancing in their career and can distinguish between graduates who are determined to have a career in finance and those who simply have an interest in finance.”

Natalie Fudge MorganStanleyInvestmentManagement

www.cfauk.org|3

around 11,000

TOP EMPLOYERS USING THE IMCAberdeenAssetManagement

AllianceBernstein

AonHewitt

AvivaInvestors

AXAInvestmentManagers

BaillieGifford

BankofAmericaMerrillLynch

BankofNewYorkMellon

BarclaysCapital

BarclaysGlobalInvestors

BarclaysWealth

BaringAssetManagement

BNPParibas

BrevanHoward

Citigroup

Coutts&Co

CreditSuisse

DeutscheBank

Fidelity

GoldmanSachs

Henderson

Hermes

HSBCGlobalAssetManagement

HSBCPrivateBank

Investec

JPMorgan

Legal&General

M&G

ManGroup

Mercer

MorganStanley

NorthernTrust

QuilterCheviot

RoyalBankofScotland

Schroders

StandardLife

SWIP

Threadneedle

TowersWatson

UBSinfo@cfauk.org

@cfauk

www.cfauk.org/imc

IMC FOR PRIVATE CLIENT WEALTH MANAGERS

Thelevel4IMCcontributestothequalificationrequirementsforretailinvestmentadvisorsundertheFCA’sRetailDistributionReview.IncombinationwithCFALevelItheIMCmeetsthefullqualificationrequirementsforthosewhoadviseinsecuritiesandderivatives.TheIMCoffersahighlyflexiblecareerrouteforbothinstitutionalandretailinvestmentprofessionals.

CONTACT US

CFA INSTITUTE CHARTERED FINANCIAL ANALYST

CFA SOCIETY OF THE UK INVESTMENT MANAGEMENT CERTIFICATE

CFA LEVEL III

3houritemsetcase-studyexam3houressaybasedexam

UNIT 2: INVESTMENT PRACTICE

2hour20minutemultiple-choiceandgapfillquestions

CFA LEVEL II

2x3houritemsetcase-studyexam

UNIT 1: THE INVESTMENT ENVIRONMENT

1hour40minutemultiple-choiceandgapfillquestions

CFA LEVEL I

2x3hourmultiple-choiceexam*30%overlapwithInvestmentManagementCertificate

Masters Level

1st year degree level

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UK QUALIFICATIONS AND CREDIT FRAMEWORK LEVELS

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020 7648 6200