WHAT IS THE IMC?
The CFA UK Level 4 Certificate in Investment Management (IMC) transforms your career and turns your potential into progression – and it’s open to everyone. Developed, delivered and awarded by CFA UK, we combine essential investment knowledge and theory with practical, day-to-day application.
The IMC tests your knowledge – and takes it further. The syllabus is designed by the IMC panel and investment practitioners, for investment practitioners. Recognised by firms as a stamp of excellence, the IMC has created opportunities and transformed careers for thirty years - and counting. So, will yours be next?
WHY SHOULD I TAKE THE IMC?
The IMC gives you the confidence and core skills to create the career you imagine. Whether you're starting out in investing, looking to take a step up or stepping into a new industry entirely, the IMC teaches the fundamentals. If you want to think like an investment professional, then this qualification is the perfect platform.
You'll learn what it takes to work in the investment industry – whatever role you work in. If you’re in the middle or back office, the confidence and core skills you’ll gain can take you forward to the front. The IMC can make your current role easier, even as you work in it. As a self-study qualification, you can build your knowledge by taking the IMC while building your career.
Don't imagine it - here's what the IMC gives you:
- It’s the most recognised qualification of its kind
- It gives everyone the skills to succeed - not just those in the front office
- It's what the biggest investment firms look for from people joining the industry
- It’s an FCA-appropriate qualification for ‘managing investments’ and combines with CFA Level I to meet the FCA Exam Standards required of wealth managers and financial advisers
- You get to use the IMC credential after your name!
YOUR IMC SYLLABUS
See what you can learn. See what you can achieve. Check out the two units that make up your IMC syllabus.
The syllabus cycle runs from 1 December to the 30 November. Each syllabus version has a corresponding Official Training Manual (OTM) version. Candidates should ensure that they are studying from the correct syllabus and OTM version. Please see Study Options for further information.
VERSION 22 SYLLABUS (UNIT 1) (1 December 2024 - 30 November 2025)
VERSION 22 SYLLABUS (UNIT 2) (1 December 2024 - 30 November 2025)
SYLLABUS CHANGES (UNIT 1)
SYLLABUS CHANGES (UNIT 2)
MOCK EXAMS
TAX TABLES (VERSION 22)
INVESTMENT MANAGEMENT CERTIFICATE OVERVIEW
IMC UNIT 1 INVESTMENT ENVIRONMENT
Fees
IMC Unit 1 Exam Fee - £335
Unit 1 Official Training Manual - £125 plus postage
Examination
Number of questions - 85
Time allowed for exam - 1 hour and 40 minutes
Learning hours - 100 hours
Results
Pass mark - Between 65% and 75%
Pass rate - Between 65% and 80%
IMC UNIT 2 INVESTMENT PRACTICE
Fees
IMC Unit 2 Exam Fee - £360
Unit 2 Official Training Manual - £135 plus postage
Examination
Number of questions - 105
Time allowed for exam - 2 hour and 20 minutes
Learning hours - 140 hours
Results
Pass mark - Between 60% and 70%
Pass rate - Between 65% and 80%
INVESTMENT MANAGEMENT CERTIFICATE QUALIFICATION SPECIFICATION
Take a look at the IMC qualification specification to discover everything you'll need to know about our exams.
ALL THE DETAILSESSENTIAL INFORMATION
Want to know more about the IMC? Explore all the essential information you’ll need to take the exams and transform your career.
WANT TO LEARN MORE?OFFICIAL TRAINING MANUAL
The Official Training Manual provides dedicated coverage of the syllabus and learning outcomes with worked examples, key facts and self-assessment questions.
GET YOUR GUIDE
TRAINING PROVIDERS
A number of training providers offer tuition and study support on the IMC and are known to CFA UK. These are listed below.
Please note that CFA UK does not currently operate a formal endorsement process.
Here to help you
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BPP
Address: BPP House, Aldine Place, 142- 144 Uxbridge Road, London, W12 8AW
Phone number: +44 (0) 3300 603 100 -
With over 25 years of experience, Fitch Learning delivers training to over 5,000 IMC, CFA and CCI candidates each year from the most respected firms in the investment industry.
Fitch Learning provides a flexible blend of classroom training, online learning, and tutor support. We have the largest full-time faculty in the industry, dedicated to these qualifications. Our digital learning platform and mobile app offer a wealth of resources including instructor videos, tutor helpdesk, question bank and mock exams – all supported by diagnostic tools to help learners track and achieve the required proficiency. -
Kaplan
179-191 Borough High Street, London, SE1 1HR
Telephone: +44 (0)20 7920 3060 -
At Quartic, we teach investing with a passion, using inspiring teaching methods for all levels of delegates, including CFA, ESG, IMC, Climate and Impact Investing courses. From exam courses that include intuitively simple shortcuts to bespoke programmes for Senior Executives designed around complex case studies, Quartic prides itself on making our courses highly interactive and enjoyable to attend.
Quartic – Invest in your future.
Don’t just learn about finance: be inspired! -
IMC FAQs
Got a question? Get some answers by searching through our list of FAQs. If you're still unsure, please email qualifications@cfauk.org.
If I do each unit under different versions of the syllabus, will I still achieve the IMC?
Candidates are not required to sit both units of the IMC under the same syllabus. Once both exams have been completed, candidates will be awarded the full Level 4 IMC qualification.
When do you update the tax tables?
Tax tables are updated on a yearly basis to run concurrently with the current IMC syllabus valid for examinations. The tax tables for IMC examinations run from 1st December to 30th November annually.
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.
Will I be given formulas in the exam?
Formulas are not provided in IMC examinations, and it is the responsibility of the candidate to memorise this information.
How often does the IMC exam take place?
IMC Examination sittings are available every working day through Pearson VUE test centres, and 24 hours a day, every day, through the Pearson VUE online examination platform, OnVUE.
What is the current syllabus for the IMC?
The syllabus currently applicable for IMC examinations is syllabus version 21.
The IMC syllabus runs yearly for examinations from 1st December to 30th November.
Incoming syllabus versions become available for purchase from October each year. CFA UK will contact all candidates with an open registration to advise them of the incoming syllabus.
For more information, please see the Your IMC Syllabus area on the main IMC page.
What kinds of questions are used in the IMC exams?
The IMC examinations contain a variety of question types such as multiple choice and item sets.
MOVE YOUR CAREER FORWARD
See what you can achieve with the IMC – register today and take your career to the next level.
