100% Free CISI ICWIM Practice Test Questions and Answers 2026

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Total 100 Questions | Updated On: May 21, 2026

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Question 1

What financial principle requires an adviser to gather extensive information from a client before making a recommendation?

A : Disclosure

B : Transparency of trading

C : Risk reduction

D : Know your customer

Answer: D

Question 2

The UCITS regulations have been integral to introducing a common format for:

A : Company accounts

B : Corporate actions

C : Key investor information documents

D : Trade settlement

Answer: C

Question 3

Performance attribution analysis attempts to explain why a portfolio had a certain return. It does so by breaking down the performance and attributing the results based on the decisions made by the fund manager on which of the following?

A : Asset allocation alone

B : Asset allocation and sector choice only

C : The combination of asset allocation, sector choice, and security selection

D : The combination of asset allocation, sector choice, security selection, and risk analysis

Answer: C

Question 4

A firm acting as agent makes money by:

A : Profiting from the spread

B : Providing advice

C : Charging their client a commission

D : Trading against its own order book

Answer: C

Question 5

A stockbroking firm receives both buy and sell orders for the same security but from different clients. How can they best avoid a conflict of interest?

A : Withdraw their services for the transaction

B : Place orders as they are received from the clients

C : Openly disclose all orders received to the clients

D : Process the sell orders before the buy orders

Answer: B

Page: 1 / 20

Total 100 Questions | Updated On: May 21, 2026

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