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Level 4

Overview

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Securities Advice and Dealing (J12)

Securities and Advice Dealing (J12) develops knowledge and understanding of the features and risks of different securities, the structure and features of the securities market and relevant factors and considerations for appropriate investment recommendations.

The default Enrolment option for this unit includes:

  • Latest version of the core learning content, in digital format only.
  • Assessment entry.

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Advising and dealing in securities is a core activity of the investment industry and a knowledge of the main asset classes, dealing and investment advice is essential to the provision of all types of investment products and services, including collective investment schemes, investment management accounts and pension funds.

This study text takes a detailed look at the characteristics of equities, bonds, cash and the money markets. It then covers investment funds or collective investment schemes. Financial markets are also considered, including trading, clearing and settlement.

The study text then focuses on the structure of financial markets, how they are regulated and how new issues of shares and debt are undertaken, how they are traded in secondary markets, the role of the main participants, and how equity and bond dealing take place. How trades are settled and some of the subsequent corporate actions that can affect a shareholding, why they are announced and how they affect an investor’s holding, are then considered.

Next comes investment analysis and the range of market information that is available to assist in investment decision making. The process of investment advice and portfolio construction is then explored. The role of asset allocation and the range of investment strategies that can be adopted, and how portfolio risk and return can be evaluated, follow.

Finally, some of the factors involved in reviewing portfolios and client circumstances are considered. These include examining the reports that need to be sent to clients on their investments and how their investment performance can be calculated and interpreted.

Purpose

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • the features and risks of different securities;
  • the structure and features of the securities market;
  • relevant factors and considerations for appropriate investment recommendations.

Assessment

  • 2 hour exam
  • 60 multiple choice questions, 3 case studies each comprising 5 multiple choice questions
  • The nominal pass mark is 65%
  • The 2020 pass rate for this unit was 78%

Study material - editions available

2020-21 edition (applicable to exams sat 01 Sep 2020 to 31 Aug 2021).