How difficult are the CII Level 6 ‘AF’ exams and are they really that much harder than the Level 4 exams? In this article, the Brand FT team unpick these questions and highlight three top tips that can help make the transition to the higher-level exams a little easier.
The good news is that the vast majority of the technical detail required for the Level 6 exams is covered in the Level 4 exams (‘R0’ and ‘J0’ exams).
The main difference is that the examiner wants to see whether you can apply your knowledge in context to the client’s circumstances and in the client’s best interests.
The other major difference is the level of detail needed in your answers – there is no brushing over the subject – something you may have got away with in your Level 4 exams!
1. Use AF5 as your stepping stone
For most Diploma candidates we advise taking R06 after the other R0 exams, as you’ll need to call on technical knowledge from R01 to R05. Bizarrely, for the Advanced Diploma candidates we suggest the opposite approach i.e. take AF5, the Level 6 equivalent of R06, first and here’s why:
The exam is a very, very similar in style and structure to R06. So if you’re feeling confident having just passed R06, then we suggest you strike while the iron is hot and book yourself in for AF5.
The subject areas are sometimes more complex in AF5 but fundamentally they’re testing the same skills using the same style of questions. You can expect a fact-finding question, review questions, recommend and justify questions – all very familiar to the R06 candidate.
The key step up with AF5 is there will be less generic marks on offer than for R06 – you really will need to apply all your answers to the client’s circumstances but this is a great way to get into the Level 6 mindset.
2. Analyse past papers
For each AF unit, ensure you spend time studying past papers and looking for patterns.
For example, you’ll notice with AF7 that, whilst it’s a very tough exam, it is also quite predictable. There are a number of staple questions that come up time and time again.
Focusing your revision on these areas can reduce revision time and help you prioritise your studies to the areas where you are most likely to pick up the marks.
Studying past exams also helps you appreciate the level of detail required and demonstrates how to apply your knowledge.
The more past papers you study the more you will understand how your answers need to focus on the client’s objectives and explain how your recommendations improve their position.
3. Understand the detail required
One of the biggest challenges with the AF exams is the level of detail required in your answers.
If, for example, you are asked to complete an income tax calculation in AF1, it is unlikely to be a simple calculation.
You’ll be hit with things such as extending the basic-rate band through pension contributions, understanding the order in which different sources of income are taxed, and applying the various allowances and all of this could be within a single income tax question. That’s the level of detail expected.
Don’t panic – you’ve probably seen all of these concepts before in R03. The difference is that, in R03, each topic would typically have been tested as a separate question in its own right, making it a little more manageable.
The other thing to remember is that very few candidates will get a lengthy calculation 100% correct. However, if your method and workings are correct, you’ll pick up the vast majority of the marks available.
If you make a mistake, such as applying the allowances in the wrong order, it shouldn’t cost you many marks provided the examiner can clearly follow your workings.
So always show your workings in the exam. Marks are awarded for the process, meaning that even if your final answer is incorrect, many marks can still be picked up along the way.
Summary
It’s important to understand the exam and the style of questions you are likely to be asked, so make good use of past papers and appreciate the level of detail expected.
Keep the clients in mind and always consider how any actions or recommendations will have on the client and their circumstances. For many candidates, AF5 can provide an excellent stepping stone into the Level 6 exam style.
To find out more about how Brand Financial Training can support you with your studies, you can head to their website at: https://brandft.co.uk/
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