SII Exams

[cr6196]

Hi,

I am looking into doing the SII exams Unit 1 & 4 and was wondering if anyone knows the most cost effective way of doing this. I have looked at BPP and thought they were pretty reasonable. I also looked at the SII's website but i couldn't work out the website at all

cheers

 

[steveborner]

you could do a distance learning course and then you dont have to pay for a college course, just buy the books and teach yourself. Thats what I am currently doing for units 1 and 4 (unit 1 is pretty boring and a fair bit to cram but nothing too challenging that I have seen so far)

 

[vchohan]

How did you go about doing a distance learning course Steve?

Viks

 

[Magos]

Hi,

I am looking into doing the SII exams Unit 1 & 4 and was wondering if anyone knows the most cost effective way of doing this. I have looked at BPP and thought they were pretty reasonable. I also looked at the SII's website but i couldn't work out the website at all

cheers

Just buy the books online

Online Bookshop Home Page

it cannot get more cost effective than that

 

[Papa Lazarou]

It's good to take these exams, but remember you need to get registered with a firm otherwise after a year or something they default and you have to retake them.

Something like that anyway!!

BPP were good. - Home study is easy enough if you're self disciplined. Don't really see the need for classes etc. Everyone learns differently though.

 

[lockstock88]

It's good to take these exams, but remember you need to get registered with a firm otherwise after a year or something they default and you have to retake them.

Something like that anyway!!

BPP were good. - Home study is easy enough if you're self disciplined. Don't really see the need for classes etc. Everyone learns differently though.

Hey Lazarou,

How do you mean they default? Im thinking of taking the Cert. prog. with technical unit in Derivatives.

Cheers

 

[blancspa]

It's good to take these exams, but remember you need to get registered with a firm otherwise after a year or something they default and you have to retake them.

Something like that anyway!!

BPP were good. - Home study is easy enough if you're self disciplined. Don't really see the need for classes etc. Everyone learns differently though.

I have actually phoned SII about it. they told me exams are for life.
you need to register with the firm to activate your status I guess.

 

[Papa Lazarou]

Hi guys.

The whole thing's a bit vague. My understanding was that if you take the exams off your own back and then are never actually registered as an approved person (i.e. registered with the FSA through your company), then, after a certain period (lets say 1 year) your qualifications are not valid as a means to gain you approved person status. So whilst the SII are saying the qualifications are for life, the whole reason people take them is to enable them to become registered to trade for clients.

I am approved and my company is required to give me continuous training and 'mini tests' in money laundering etc etc so as to comply with FSA and to ensure I am up to scratch continually.

I was also told in the past that should I stop and drop out of the industry for say a year or more and am therefore no longer registered as approved, I would be required to retake the exams - Not sure if this has changed.

Let me know if you manage to get some clarity on this!

 

[cr6196]

Right the basic fact is this: if you do them tomorrow and you get a job in which it is required you will not need to take it again.

However, if you take it and then wait say a year or two then the firm that hires you may ask you to retake it.

So it can become "invalid" but it will always be true that you can say it is a qualification on your cv and that you passed in whatever year.

 

[craig85br]

Hi All,

Just read this and became slightly concerned as I am taking a gap year from work, moving abroad and studying for all of the relevant exams. I have my Unit 1 test in two weeks.
I contacted SII who advised me to speak with the Skills Council for clarification.
The Skills Council confirmed that the qualifications never expire but if you have been out of industry for a year or more your new prospective employer may ask you to retake the exams. This is at the employers discretion but as in the previous post you can always include them on your CV as you have passed them regardless of the date they were passed.

 

[dodge149]

Yea I heard you had to retake them after a year, but am not clear whether its under the employers discretion. I thought that after a year, new rules and regs would have been enforced which would require you to take them again (if not working in a connected role). About studying, you could just buy the book and you'll probably be fine, however id recommend distance learning as you get access to all the online tutorials, practice questions, dowloads etc. If your self funding yourself I wouldnt do the full course as all you miss out on is a 2 day course (which costs about £150) which pretty much covers the basics (easy material). I went with BPP, and would recommend them.

 

[Don-e]

Also worth bearing in mind that exams for UNIT 4 have been withdrawn by SI. You now have to sit Units 6, 2 & 7 separately (assuming you want to do Secs and Fin Derivs).