CISI Guide

CISI UK Financial Regulation Past Papers: What Exists and the Best Mocks (2026)

No public past papers exist for CISI UK Financial Regulation. Here's the official material that does, why stale PDFs are dangerous for this paper, and current mocks.

6 min readUpdated June 2026By Rueben Yu

There are no public past papers for CISI UK Financial Regulation. One official sample paper exists, the workbook has its own questions, and everything else you will find is unofficial. For most exams that is an inconvenience. For this one it is a trap, because no CISI paper goes stale faster than the regulation paper.

The paper you are preparing for

QualificationCapital Markets Programme, regulatory unit
Questions75, multiple choice
Time90 minutes
Pass mark70%, no negative marking
FormatComputer based

The 75 questions are heavily skewed: Conduct of Business and Client Assets alone carries 35 of them, and with Enhancing Market Integrity that is 54 of 75. How to revise to that skew is covered in our UK Financial Regulation exam guide.

What official material exists

CISI publishes one specimen UKFR paper written to the live standard, and the official workbook carries end-of-chapter questions plus a practice paper. Revision Express is the paid add-on, and the free Prometric demo shows you the test software. Sit the sample paper once, timed, late in your revision, and treat the workbook questions as a one-shot set. Before any CMP sitting in the UK you also need IntegrityMatters, CISI's short online integrity test, out of the way.

Why stale UKFR papers actively hurt you

This syllabus tracks live UK regulation, and the figures move constantly. The FSCS deposit limit rose to £120,000. The Financial Ombudsman Service award limit steps up most years. Capital gains rates, thresholds and regime detail shift with Budgets. A mock from even two years ago tests numbers that are simply no longer correct, and because UKFR questions turn on precise figures and precise rules, revising from it means walking into the exam armed with confident wrong answers. The unofficial PDFs on Scribd, Docsity and Stuvia are exactly this: undated, unverified, and written against whatever edition was current when someone uploaded them.

The alternative: six current, weighted mock papers

Passkey gives UK Financial Regulation six full mock papers, each 75 questions in 90 minutes, weighted to the real element split. Two of the six are built from a reserved pool of questions that never appears in practice mode, so you can sit them completely cold, the closest thing to a real past-paper experience you can get. Every question is written against the current rulebook and every answer explains the rule, not just the letter.

Practice mode covers all four elements with the bank sorted by where you are weak, and the readiness score tells you when your mock average makes booking rational. Average 80% or higher across your last three mocks, sit within 30 days, and if you do not pass we refund you in full.

Start free. Try a set of free UK Financial Regulation practice questions, or take the free diagnostic to see which of the four elements is costing you marks. The first chapter of the UKFR bank is free in the app.

Every UKFR revision resource, in one list

  • The official CISI UK Financial Regulation workbook, current edition only. Old editions carry old figures.
  • The official sample paper, sat once under the clock.
  • CISI Revision Express (paid) and the free Prometric CBT demo.
  • Passkey: the full UKFR bank, six weighted 75-question mocks including two from a reserved unseen pool, rule-level explanations, weak-spot tracking. £59 once covers all nine exams we support, for up to three months.
  • Free UKFR practice questions and the free diagnostic.
  • Our UKFR exam guide and the Capital Markets Programme overview.

Passkey is an independent study tool and is not affiliated with, endorsed by, or accredited by the Chartered Institute for Securities & Investment. For the picture across every paper, see CISI past papers: what's actually available.

Frequently asked questions

Does CISI publish past papers for UK Financial Regulation?

No. One official sample paper exists, plus the questions in the official workbook. Previously sat papers are never released, and the live bank rotates.

What is the format of the CISI UK Financial Regulation exam?

75 multiple-choice questions in 90 minutes, computer based, 70% pass mark, no negative marking. It is the regulatory unit of the Capital Markets Programme, sat alongside one technical unit (Securities or Derivatives).

Why is old UKFR revision material worse than none?

Because the syllabus tracks live UK regulation. Compensation limits, tax figures and regime details change most years, so a stale paper teaches precise, confident answers that are now wrong, and UKFR questions are built to punish exactly that.

How many UKFR mocks should I sit before booking?

Enough to be clearing 70% comfortably and repeatedly, which usually means at least three full timed papers. Passkey's six papers include two built from questions you cannot have seen in practice, which give the most honest signal.

Written by

Rueben Yu · Markets professional, CISI candidate

Rueben works in capital markets and is sitting the CISI exams himself. Every Passkey guide is written from the inside, against the current syllabus and current UK regulation.

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