Investment Management Certificate (IMC) | CFA UK (2024)

FAQs

How many people fail IMC? ›

Pass rates for IMC Units One and Two usually range from 65 to 80 per cent on average, which is typical for a foundational course in investment management. Candidates need an overall mark to pass the exams, regardless of how the examiners allocate the marks throughout the exam.

The IMC is a Level 4 qualification. This means that the level of difficulty of the qualification broadly equates to the first-year of an undergraduate degree.

For many learners, IMC is their first step into the investment profession. It provides an excellent foundation into the core areas of portfolio management, research analysis, front office investment activities, relationship management and risk management.

The combined total study time for IMC Units 1 and 2 is 220 hours. So it's not worth putting your study time off. The exams are practically impossible to pass if you don't put in the hours. Try to avoid relying on cramming at the last minute.

The Unit 1 exam pass mark usually stays between 65%–75%. The mock exam is only a guide, so it's best to aim to achieve 75% or more when taking this test. The Unit 2 exam pass mark usually stays between 60%– 70%. Although this mark is lower, you should still aim to achieve 75% or more when taking this test.

How long does it take to study for the IMC? CFA UK recommends 100 hours of study for IMC unit 1, and 140 hours of study for IMC unit 2.

Chartered Financial Analyst (CFA) Certification

The CFA designation is highly sought after by finance professionals around the world. It consists of three levels and takes an average of about 4 years to complete all 3 levels.

To be eligible, you must have gained the Full IMC qualification first, once you are a member you can benefit from: Using the IMC designation after your name to showcase your qualification. Taking advantage of our career support services including 20 free career-related events per year and access to our Careers Centre.

Chartered Financial Analyst (CFA®)

To obtain the CFA charter, candidates must successfully complete three difficult exams and gain at least three years of qualifying work experience, among other requirements.

The IMC has been used by investment professionals for over 20 years and is awarded by CFA Society of the UK. Taken by staff in leading investment firms, the IMC is the profession's benchmark entry level qualification.

Does the IMC expire? ›

About the qualification

In practice you really need to have sat both units of the IMC within a two year period, since this is the maximum time recognised by the FCA for the qualification to be relevant.

Difference Between CIPM and IMC. With a CIPM degree, aspirants can secure job roles and opportunities in GIPS verification firms, research firms, plan sponsors, investment banks, investment management, etc. In contrast, aspirants can secure job roles and opportunities as analysts or fund managers with an IMC degree.

The Investment Management Certificate is the entry-level qualification for investment professionals in the UK. Offering a route to the CFA® qualification, it is typically for those in front office investment activities roles including portfolio management, consulting, risk management and research.

Preparation is everything. Before you start, make sure you read the instructions carefully, be mindful of the deadline and, if practice questions have been provided, take full advantage of them. Take enough time, make sure you're somewhere without distractions, and that you've got reliable internet.

The IMC is an FCA Appropriate Qualification for the activity of 'managing investments' and may be combined with CFA Level 1 to meet the exam standards required of Retail Investment Advisers.

Note that this works in combination; IMC (Level 4) or CFA Level I alone are not RDR compliant. RDR compliance is also achieved by combining IMC with other RDR specialist examinations. The IMC became a Level 4 qualification on 1 September 2010.

This material is available from CFA UK in a self-contained CPD study booklet. The (level 4) IMC syllabus references for this are as follows (new required content in red font): Demonstrate an understanding of legal concepts relevant to financial advice 3.1.