Wide variations in CII pass rates
Pass rates for the Chartered Insurance Institute’s diploma in financial planning modules range from just under 40 per cent to almost 80 per cent for last year.
Latest figures from the CII show pass rates for the J01 to J07 units range from 39.9 per cent to 62.9 per cent.
The lowest pass rate is for the J03 tax and legal aspects of business unit, which fell from 41.8 per cent in 2010 to 39.9 per cent in 2010.
The highest pass rate is for the J01 personal tax unit, which also fell from 64.2 per cent to 62.9 per cent.
For the R0 units, which were introduced in April 2010, the pass rates ranged from 57.8 per cent for the R03 personal taxation module to 78.7 per cent for the R05 financial protection exam.
The proportion of advisers who passed the written financial planning paper, classed as both R06 and J08, increased from 61 per cent in 2010 to 65.2 per cent in 2011.
Over the year, the total number of Personal Finance Society adviser members rose from around 16,500 to 18,000. The number who hold a diploma or above rose from 44 per cent to 58 per cent.
Axxis Financial Planning director Owen Wintersgill says: “It seems a lot of advisers have left getting qualified to the last minute, which could catch some people out. Getting to level four is not easy and there may be people who have underestimated the amount of time it takes.”