It is easy to get overwhelmed with the amount of work required for financial services exams but, with a solid revision strategy, the whole process can look and feel much more manageable.
We have been working with Chartered Insurance Institute (CII) exam candidates for over 15 years and while we understand individuals tackle their revision in very different ways, there are definite strategies that consistently work well. Here are our top five tips.
1. Create a study plan
Our first piece of advice is to create a study plan. Creating and sticking to a plan helps break revision down into manageable chunks, sets clear goals and helps with time management.
After around 20 to 30 minutes of intense study, you are likely to start to switch off
Many candidates are discouraged from creating a plan as they think it will eat into precious revision time, but that doesn’t have to be the case. The plan can be very simple yet still effective, it can take a matter of minutes to put together and will still provide some structure to your revision.
There are three simple steps to creating an effective CII exam study plan:
Step 1: List the revision tasks you will use to study for your exam. This may include revision of the CII study guide and exam guides, mock papers and other resources, such as online courses, audios or video tutorials.
Step 2: Allocate revision tasks to the time available. Consider how long will be needed for each task and be sure to prioritise. Use your diary and make a list of the revision slots you have available until exam day. Some weeks you will be busier than others, so make sure you factor this in.
Step 3: Make sure the plan is achievable. Ensure there is sufficient time over the course of your entire revision schedule to work through everything. Build in some catch up time and set goals to keep track of progress.
2. Quality over quantity
Spend quality time on your revision by avoiding distractions and only studying in short bursts. After around 20 to 30 minutes of intense study, you are likely to start to switch off.
Strike a balance between capturing the information without gathering unnecessary detail
The danger of studying for longer periods without a break is that you may feel like you have put in a good session of revision when, in fact, most of the time has been spent staring at the words on the page or checking your phone. If that’s the case, the information is far less likely to have been retained.
So, if you do have a few hours of study time set aside, the key is to take frequent breaks and keep the revision short enough to give it your full attention throughout. This will be much more effective than hours of continuous study.
3. Take notes
The key with effective note taking is to strike a balance between capturing the information without gathering unnecessary detail and to make the notes as visually engaging as possible.
Prioritise the information more likely to be tested or which is harder for you to understand or memorise. Writing down information you already understood is a waste of valuable time.
Three mock papers is the minimum amount candidates should attempt before sitting an exam
Use highlighter pens, pictures, symbols and draw tables. We always suggest using plain paper rather than lined as it offers more freedom for expression and then the information is more likely to be committed to your memory.
Some training providers do sell revision notes as a ready-made product. Many candidates use these as a basis and make their own additional notes on top. They will have the benefit of having a structure in place, and be formatted in a way that is easy to refer back to.
4. Mock papers, mock papers, mock papers.
Why repeat this three times? Because mock papers are a highly effective part of any revision schedule, and we believe three mock papers is the minimum amount candidates should attempt before sitting an exam.
Good quality mock papers will follow the same format as the CII exam itself. This helps you prepare for the style and structure of the questions. The CII exams often have wordy question stems, so digging through the detail to understand exactly what is being tested will become second nature with plenty of practise.
Once you understand how marks are allocated, you will be better placed to manage your time during your paper
Building in time to complete mock questions during revision will also help you understand areas of weakness requiring further study. It’s also a great test to see if you have retained the information you’ve been learning.
We do also advocate candidates sit at least one full mock paper under self-imposed exam conditions towards the end of their revision schedule. This is an ideal way to understand the time constraints of the exam and provide a clearer understanding of how much time to spend on each question on exam day.
5. CII exam guides
It is essential the CII exam guides are used as part of your revision, as they give you the opportunity to familiarise yourself with the type and style of questions for the exam. You can see how the questions are weighted differently, depending on complexity. Once you understand how marks are allocated, you will be better placed to manage your time during your paper.
Being fully prepared for the format and structure of the exam means fewer surprises on exam day when you might well be feeling a tad nervous.
Revision strategies are a very individual thing. We suggest you play around with different ideas and strategies and access a variety of exam resources to see what works for you. And don’t be afraid to try a different approach.
Catriona Standingford is managing director of Brand Financial Training
