Continuing the series of BTS articles for Professional Paraplanner, looking at the individual CII exams, Will Salmon, Candidate Support & Business Development Adviser at BTS, considers approaches to taking the R02: Investment Principles and Risk exam. He takes us through his own experience of pursuing the process part-time (as most paraplanners do), including dealing with nerves when taking the exam itself.
I’m proud to say that I’ve recently joined BTS as a Candidate Support & Business Development Adviser, having used their study materials to pass five R0 units already, whilst working at one of the large financial services providers.
I’m on the journey to completing my CII Diploma in Regulated Financial Planning and I’m almost there with R01- R05 all completed. I’m now working on R06 to achieve my CII Level 4 Diploma.
Studying part-time
Studying part-time is a big commitment. I actually think part-time is the wrong way to describe it, it should be described as double-time because you have to manage to fit your studies around everything else in your life. Everyone is different, of course, but you might be working a full-time job and raising a family at the same time or have caring responsibilities.
It’s a tough ask to add studying to your already full list. I should know with my experience of studying the R0 units now, as well as having previously completed an Open University degree which took me six years. I know a thing or two about part-time learning and I’m happy to share my experience with you.
My Recent R02 study experience
R02 delves into the principles of investment and the associated risks, hence the title! It covers a wide range of financial instruments, including equities, bonds, property, and collective investment schemes, alongside key investment strategies. The exam also tests knowledge of the wider economic environment and how different market factors influence investment decisions.
Due to the vast amount of content you need to learn it has a reputation of being a challenging exam and I certainly found that to be the case, but luckily, I had a whole suite of excellent study materials and methods at my disposal to enable me to tackle the exam with confidence.
I studied R02 as part of a Digital Academy provided by BTS whilst I was working at my previous employer. The Digital Academy package included the following study resources:
Digital Study Guide – this is the main resource and BTS have designed it to fully replace the CII version, so it’s the only study guide you will need. All the other BTS study support is based on this Study Guide.
e-learning course – a really clever idea, this covers the heaviest weighted learning outcomes of the exam in a more interactive way with helpful videos, drag and drop exercises and practice exam questions. These methods may suit ‘visual learners’ quite well. Two-day live training workshop delivered over Zoom – a BTS Associate Trainer leads the group and takes you through the most challenging Learning Outcomes which are likely to appear in your exam. The trainers sit their respective R0 exams themselves each year so they can keep up to date with the ever-changing regulations as well as keep an eye on question trends.
Specimen exams – four full specimen exams designed to be as close as possible to the real thing so you can get plenty of practice for exam day.
This selection of different types of learning materials helped to keep me on track during my studies – if I was getting fed up reading then I could switch to e-learning on that same subject to mix things up and help keep me interested. I felt this holistic approach really helped me stay motivated and focused.
The BTS Study Guide: A learner-centric approach
BTS Study Guides are well known for being very learner friendly and are designed to fully replace the CII version. They explain things in a much more learner-centric way and contain helpful diagrams and background information and also add a touch of humour as well, which certainly keep things interesting! The Study Guide dedicates a chapter to each exam Learning Outcome, this is very helpful because it enables you to easily focus on the areas you might not be as confident with as you go through your study process. This enables you to learn more effectively and the Study Guide will have a specimen exam included.
The role of e-learning in exam preparation
E-learning is a great innovation by BTS and is delivered over the BTS online Learning Management System. It’s designed to cover the heaviest weighted learning outcomes from the exam in a more interactive way. For example, there are drag and drop exercises and really helpful video models, if you are more of a visual learner then e-learning will be ideal for you. The e-learning module also comes with a full specimen exam too so you can have some extra practice.
The value of the training workshop
The training workshop was extremely helpful because it meant that I had two full days focusing on R02 uninterrupted – it can be quite a challenge studying for exams on a part-time basis trying to juggle life and a full-time job at the same time! And R02 is a heavy exam in terms of content, so it’s so valuable to have the chance to spend two days with a highly experienced facilitator so you can ask questions about the bits you’re not so sure about. Although one of the most valuable aspects of attending the workshop, I found, was to meet other learners who were on the same study journey as me – it made me realise I am not alone and the challenges I am facing are shared by others.
Why my employer chose external support
My previous employer wanted to ensure that as many people as possible who were booked onto a CII exam passed, so they received a good return on their investment. To achieve this, they wanted to make sure they had the most supportive environment possible for their learners to give them confidence and keep them on track. Previously the method had been for the company to buy the CII Study Guide for the learner and then expect them to study unsupported from there (sound familiar?!). Whilst working there I saw time and again individuals who were not used to studying drop out of the exam journey because they didn’t feel supported and lacked confidence, resulting in a large part of the financial investment the company had made being wasted. Aviva recognised the issue they had and sought specialist training experts to assist them.
Exam Day: Managing nerves and staying focused
I always get a little nervous in the run up to an exam and on the day itself, usually this passes when I have arrived at the test centre though. I much prefer to go to a test centre as it allows me to get into the “exam mindset” on my journey in and also prevents me from cram revising that morning, which I find can be counter-productive, although everyone is different and you’ll probably have your own last minute exam day revision rituals!
I’m sure I’m not alone when I say that it’s always a little nerve wracking sitting in front of the exam screen as the invigilator is helping to set everything up (the staff at my local Norwich centre are always so friendly and helpful) because you genuinely have no idea what questions you will be asked out of all the materials you have studied and all the mock exam questions you have practiced. I tend to find the first couple of questions spook me a bit, then I start to calm down as I work through them and realise that, thanks to excellent study resources and sticking to a revision plan, I know how to answer these questions!
Eventually you get near to the end of the exam, if you’ve flagged any questions you can roll back to them and check answers and hopefully you have some time left to run. I had about 15 mins left on the clock at the end of my R02 exam. That’s the point where I always say to myself “Right Will, it’s time to press the End Test button, you’ve done your best and the result will be the same now whether you send it now or after the 15 mins – just hit it!”
If you are lucky on the day you see the word “PASS” in front of you and if you are unlucky then it will say “FAIL” although we prefer to call it ‘deferred success’ at BTS because you will have worked very hard on your studying up to the exam, you’ve just been unlucky on the day and the aim is to pass next time.
My final thoughts
The R02 exam is undoubtedly challenging, but with the right study materials and support, it is manageable. For paraplanners, investing in a range of learning resources – whether digital guides, interactive courses, or live workshops – can make all the difference in ensuring success.
The BTS team will be presenting at Professional Paraplanner’s Technical Insight Seminars around the country from April onwards – find out more about our Seminars HERE.
Bespoke Training Solutions, a Davies Company, have been supporting regulated exams for over 20 years. Known as ‘the exam experts’ within the industry, BTS provide support for the CII regulated exams by way of study guides, e-learning resources, and workshops for L3, L4 & L6 units. You can learn by visiting https://www.bespoketrainingsolutions.com
You can also visit https://www.bespoketrainingsolutions.com and check out the BTS Careers Zone for study plans, answers to exam FAQs and lots more to support your journey.
Main image: nick-morrison-FHnnjk1Yj7Y-unsplash
