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Skills council sets out its list of appropriate exams

The Financial Services Skills Council has published a list of 25 exams which it designates appropriate for IFAs, including modules from the Securities Institute which are not on the FSA&#39s approved list.

FSSC spokeswoman Kate Saunders says: “More examinations will be added to the list in the coming weeks.”

Securities Institute managing director Ruth Martin says: “We are delighted that all our IAQ modules are on the list.”

The exams are:

•Acting as a pension transfer specialist

•Advising a customer on a regulated lifetime mortgage contract •Advising a customer on a regulated mortgage contract (other than a regulated lifetime mortgage contract or a regulated mortgage contract that is for a business purpose) •Advising on (but not dealing in) investments which are derivatives only •Advising on (but not dealing in) investments which are securities (other than stakeholder pension schemes or broker funds) and derivatives – for those advising on venture capital investments only, see Managing investments in relation to venture capital investments only •Advising on (but not dealing in) investments which are securities (other than stakeholder pension schemes or broker funds) only – for those advising on venture capital investments only, see Managing investments in relation to venture capital investments only •Advising on investments in the course of corporate finance business only •Advising on investments which are friendly society tax-exempt policies only •Advising on investments which are non-investment insurance contracts •Advising on investments which are packaged products (other than broker funds or as in TC 2.1.4 R (1)(g) or TC 2.1.4 R (1)(h)) •Advising on investments which are packaged products (where the employee sells only life policies issued by a friendly society and is not reasonably expected to receive remuneration of more than £1,000 a year for such sales) •Advising on syndicate participation at Lloyd&#39s

•Advising on, and dealing with or for clients in, investments which are derivatives only •Advising on, and dealing with or for clients in, investments which are securities (other than stakeholder pension schemes or broker funds) and derivatives •Advising on, and dealing with or for clients in, investments which are securities (other than stakeholder pension schemes or broker funds) only •Designing scripted questions for use in sales to cutomers of regulated lifetime mortgage contracts which do not involve personal recommendations •Managing investments

•Managing investments in relation to venture capital investments only •Overseeing on a day-to-day basis administrative functions for effecting or carrying out of life policies:

(i) new business administration;

(ii) policy alterations including surrenders and policy loans; (iii) preparing projections;

(iv) processing claims, including pension payments;

(v) fund switching

•Overseeing on a day-to-day basis administrative functions for managing investments (i) arranging settlement;

(ii) monitoring and processing corporate actions;

(iii) client account administration, liaison and reporting. including valuation and performance measurement; (iv) Isa or Pep administration;

(v) investment trust savings scheme administration

•Overseeing on a day-to-day basis administrative functions for the operation of a stakeholder pension scheme:

(i) new business administration;

(ii) receipt of or alteration to contributions;

(iii) preparing projections and annual statements;

(iv) administration of transfers;

(v) handling claims, including pension payments;

(vi) fund allocation and switching

•Overseeing on a day-to-day basis operating, or acting as a trustee or depositary of a collective investment scheme •Overseeing on a day-to-day basis safeguarding and administering investments or holding of client money •Overseeing on a day-to-day basis taking private customers through decision trees in connection with a stakeholder pension scheme •Overseeing on a day-to-day basis the sales to customers of regulated lifetime mortgages which do not involve personal recommendations.

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