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?
To take the next step in your career! The IMC is built to be the best way to grow your knowledge, progress within your current firm, or to start your investment career. You’ll learn the fundamentals of investing, developing a foundation of skills that you’ll carry with you throughout your career.
If you already work in a firm, you can study the IMC while working full-time. That way, you can apply what you learn directly to your day-to-day role. If you want to move your career forward, the IMC provides the perfect platform to turn your potential into progress.
- It’s the most recognised qualification of its kind
- The qualification is FCA-appropriate for ‘managing investments’
- It’s the perfect stepping stone to the front office
- 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 21 SYLLABUS (UNIT 1) (1 December 2023 - 30 November 2024)
VERSION 21 SYLLABUS (UNIT 2) (1 December 2023 - 30 November 2024)
SYLLABUS CHANGES (UNIT 1)
SYLLABUS CHANGES (UNIT 2)
MOCK EXAMS
TAX TABLES (VERSION 21)
INVESTMENT MANAGEMENT CERTIFICATE OVERVIEW
IMC UNIT 1 INVESTMENT ENVIRONMENT
Fees
Official Training Manual Cost Unit 1 – Edition 21 - £121 plus postage
IMC Unit 1 Exam Fee - £335
Unit 1 Official Training Manual - £125
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
Official Training Manual Cost Unit 2 – Edition 21 - £126 plus postage
IMC Unit 2 Exam Fee - £360
Unit 2 Official Training Manual - £135
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
Ready to test your knowledge? Take a look at the IMC test 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.
BPP
BPP
Address: BPP House, Aldine Place, 142- 144 Uxbridge Road, London, W12 8AW
Phone number: +44 (0) 3300 603 100
FITCH LEARNING
Fitch Learning
2, The Corn Exchange, 55 Mark Ln, London EC3R 7NE
Telephone: +44 (0)20 7496 8600
KAPLAN
Kaplan
179-191 Borough High Street, London, SE1 1HR
Telephone: +44 (0)20 7920 3060
QUARTIC
Quartic
info@quartic.co
+44 (0)20 7776 7500
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.
