Fundamentals of Financial Services

CISI Level 2 Award in Fundamentals of Financial Services

Why study Fundamentals of Financial Services?

Fundamentals of Financial Services is an important first step in developing the essential basic knowledge required for working in financial services. You will learn about the professional sector and commonly used financial products, such as shares, bonds and insurance and it will provide you with an understanding of financial terminology.

Is Fundamentals of Financial Services right for me?

It is ideally suited to new or junior employees working in financial services. It is also appropriate for school leavers who are considering a career in finance.

Key features:

  • Prepare for a career in finance – the qualification provides an overview of the professional sector
  • Accessible –  there are no entry requirements and the exam is open to all levels
  • Offers a progressive study pathway – successful candidates are encouraged to progress to the CISI’s Foundation Qualification – Introduction to Investment
  • Available in Arabic, English, French and Spanish
  • Exams available online via remote invigilation or at one of our global test centres
  • Free CISI Student membership – become associated with a Chartered professional body and take advantage of an extensive range of benefits

Qualification Factsheets

Qualification Structure

The qualification is achieved by successfully passing a multiple-choice question exam. Select the language you require below to view more details. 

Fundamentals of Financial Services is an Ofqual regulated qualification and is recognised as a level 2 Award on the Regulated Qualifications Framework (RQF). On the European Qualifications Framework, this equates to a level 3 qualification.

Total Qualification Time:
101 hours

The total qualification time (TQT) for this qualification is 101 hours. TQT is an estimate of the number of hours that a typical candidate might reasonably spend in achieving the qualification. This will vary depending on your previous experience, and includes any formal study as well as self-study and assessment time.


Exam Details

Exam Availability

Pass Mark / Pass Rate

The current pass rate for this exam is and the pass mark is . The exam grades are as follows:

Regulated Qualifications Framework

credits on the Regulated Qualifications Framework are awarded upon successfully passing this exam

Feedback and Appeals

For further details on how to give us your feedback and / or Appeal your result, please refer to our Exam Policies.

Study support


A CISI Fundamentals of Financial Services workbook is required to be purchased when booking the exam. This is to ensure there is one standard workbook from which all exam candidates can prepare. You can also choose to purchase Fundamentals of Financial Services elearning to support your exam preparation.

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Accredited Training Partners

You can choose to complete formal training for our exams with a CISI Accredited Training Partner (ATP).

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Post Qualification Opportunities


Obtaining the Fundamentals of Financial Services qualification entitles you to join the Institute at Affiliate level. As a member of the Institute, you will enjoy the recognition of being a professional in a world of increasing competition. The extensive continuing professional development (CPD) opportunities available through the CISI’s suite of membership benefits ensures financial services practitioners can maintain competence and meet the requirements of firms and the regulator.

Higher Level Qualifications

To further theoretical and practical knowledge upon completion of Fundamentals of Financial Services, higher level qualifications to take include: