Question 1

Which CISI exams does Passkey cover?

Accepted Answer

Nine exams. The Introduction to Securities & Investment (Level 3 Award), a common requirement for graduates entering UK financial services; all three Capital Markets Programme papers: UK Financial Regulation, Securities, and Derivatives, which are typically required for front-office capital markets roles; Global Securities Operations, the most popular technical unit of the Investment Operations Certificate (IOC), aimed at operations and custody roles; and both Level 4 Investment Advice Diploma (IAD) papers: Investment, Risk & Taxation and Financial Planning & Advice, for those moving into wealth management and advice; and two standalone Risk & Compliance certificates: Risk in Financial Services and Global Financial Compliance, aimed at risk and compliance professionals. One account covers all nine; switch between them using the exam picker in the navigation bar.

Question 2

What are the exam formats?

Accepted Answer

All are computer-based multiple choice with a 70% pass mark. Intro to Securities & Investment is 50 questions in 60 minutes across 11 elements. UK Financial Regulation is 75 questions in 90 minutes across 4 elements. Securities and Derivatives are each 100 questions in 120 minutes across 9 elements. Risk in Financial Services and Global Financial Compliance are each 100 questions in 120 minutes. Each syllabus element carries a fixed question weighting, which Passkey mocks replicate exactly.

Question 3

How hard is the exam?

Accepted Answer

Most candidates find these exams challenging if they rely solely on reading the workbook. The questions test application and understanding, not just recall. Common stumbling blocks include derivatives pricing, bond yield calculations, accounting ratios, and the regulatory framework. With focused practice on weak areas, most well-prepared candidates pass first time.

Question 4

How much do the CISI exams cost?

Accepted Answer

Exam fees are set by CISI and vary by paper and membership status. Check the CISI website for current pricing. Many employers cover exam fees for their staff. Passkey is a separate study tool and is not affiliated with CISI.

Question 5

Is this the same as the CISI workbook?

Accepted Answer

No. Passkey is a practice and revision tool, not a replacement for the official CISI study material. We recommend using the official workbook for your paper for initial learning, and Passkey for active revision, practice questions, and mock exams. The two work well together.

Question 6

How does Passkey help me prepare?

Accepted Answer

Passkey provides practice questions, timed drills, realistic mock exams, and detailed study notes covering every syllabus element of your chosen exam. The system tracks your performance by topic so you know exactly where to focus your revision. Instead of passively reading, you are actively testing yourself, which research consistently shows is the most effective way to learn.

Question 7

What study modes are available?

Accepted Answer

There are four study modes. Practice Mode lets you pick an element and answer questions at your own pace with instant feedback. Timed Drills run 72 seconds per question; you can pick a chapter or use Suggested mode which mixes your three weakest chapters into one session. Mock Exam simulates your full paper with proper element weightings and timing. And the Notes section provides comprehensive revision material for every topic. On top of those, Flashcards give you over 1,200 spaced-repetition cards with Leitner ratings for drilling key definitions and formulas.

Question 8

Are the questions the same every time?

Accepted Answer

Passkey draws from a large bank of exam-style questions covering every syllabus element, so you practise broadly across the whole syllabus rather than drilling the same handful. Options are shuffled each time, so you are tested on understanding rather than memorising answer positions.

Question 9

How are mock exams weighted?

Accepted Answer

Mock exams follow the exact same element weightings and timing as your real CISI paper. For Intro S&I that means 50 questions in 60 minutes; for UK Financial Regulation 75 in 90 minutes; for Securities and Derivatives 100 in 120 minutes. This means your mock exam score is a realistic predictor of your actual performance.

Question 10

What happens when I get a question wrong?

Accepted Answer

You get immediate feedback showing the correct answer along with an explanation of why it is correct. In Practice Mode, you can also view a more detailed breakdown of the topic. At the end of each session, you can review all the questions you got wrong in one place.

Question 11

How does the weak spot tracker work?

Accepted Answer

Every answer you give is tracked by syllabus element. The Analytics page shows your accuracy for each element sorted from weakest to strongest, along with how many questions you have attempted. This makes it obvious where you need to spend more time revising.

Question 12

How much does Passkey cost?

Accepted Answer

You can start on the free plan: chapter 1 of every exam is open, with real practice questions, study notes and flashcards, no card required. The Pass Package is £59 one-time and unlocks everything — every chapter of all nine CISI exams, the full question bank, full-length mocks, and the weak spot tracker — with full access until your exam date, capped at 3 months. No subscription and nothing to cancel.

Question 13

What is the 80% mock guarantee?

Accepted Answer

If you average 80% or higher across your last three Passkey mock exams, sit the real CISI paper within 30 days, and don't pass, we refund you in full. Email your result to hello@passkeyprep.com and we'll process the refund. The mocks are tuned to be slightly harder than the real exam, so 80%+ is a strong readiness signal.

Question 14

Can I try Passkey before paying?

Accepted Answer

Yes, properly. Create a free account and chapter 1 of every exam is yours: practice questions, study notes and flashcards, with your progress tracked. There is also a free sample mock on the website that needs no account at all. If you like what you see, the Pass Package unlocks everything else.

Question 15

Do I need to create an account?

Accepted Answer

Yes, an account is required so that your progress, stats, and weak spots can be tracked across sessions. Signing up takes about 10 seconds with just an email and password.

Question 16

Can I use Passkey on my phone?

Accepted Answer

Passkey works on mobile browsers, but it is designed primarily for desktop and laptop use. Most candidates study on a larger screen, and the mock exam experience is better on a full-sized display. That said, Practice Mode and short drills work perfectly fine on mobile for revision on the go.

Question 17

How accurate are the questions?

Accepted Answer

All questions are written to reflect the official CISI syllabus for each exam and are reviewed against the current edition of the official workbooks. They follow the same multiple choice format with four options and one correct answer. The content references current UK financial regulation, tax thresholds, and market conventions, and where the law has recently changed ahead of the workbook we flag both. Passkey is an independent study tool and questions are not sourced from CISI.

Question 18

Do the study notes cover everything I need?

Accepted Answer

The notes cover every syllabus element of all nine exams in detail, including key definitions, formulas, exam tips, and common traps. They are designed as revision material to complement the official CISI workbooks, not replace them. Each section focuses on the points most likely to be tested.

Question 19

Are regulatory references up to date?

Accepted Answer

The content reflects UK financial regulation as of 2026, including the FCA handbook, SM&CR, Money Laundering Regulations 2017, and the current FSCS compensation limits (£120,000 for deposits since December 2025). Where a workbook edition lags a recent change, our explanations flag both figures. We update the material when significant regulatory changes occur.

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