CFA UK Level 4 Certificate in Investment Management
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What is IMC?

The IMC is the benchmark entry-level qualification into the UK investment profession. It delivers the threshold competency knowledge required by investment professionals involved in portfolio management, research analysis, and other front office investment activities.  The examinations cover the key content areas appropriate for these roles including economics, accounting, investment practice, regulation, and ethics. The qualification is developed, delivered and awarded by CFA UK. 

Why should I take IMC?

If you are looking to develop your career in investment management then the IMC will be suitable for you. Over half of IMC candidates sitting the exam are actively involved in front office investment activities, including portfolio management, research, investment consulting, risk management and relationship management. Many candidates are wanting to develop their career and also looking to join the profession. Most investment firms ask their employees to take the IMC to demonstrate the competency of their front office staff to the regulator. The IMC is an FCA Appropriate Qualification for the activity of 'managing investments' and may be combined with CFA Level 1 to meet the exam standards required of Retail Investment Advisers.


Level 4 IMC Overview
  Unit 1 Unit 2 
Official Training Manual Cost 

IMC Exam fees

Unit name


Syllabus valid dates

Number of questions

Time allowed for exam

Total qualification time  


Pass mark

Pass rate

£90.00 plus postage


Level 4 IMC Investment Environment
Unit 1 syllabus version 15

From 01/12/2017 to 30/11/2018


1 hour and 40 minutes

80 hours

8 credits

Between 65% and 75%

Between 65% and 80%

£95.00 plus postage


Level 4 IMC Investment Practice
Unit 2 syllabus version 15

From 01/12/2017 to 30/11/2018


2 hours and 20 minutes

120 hours

12 credit

Between 60% and 70%

Between 65% and 80%



"A concise and rigorous course, that establishes key fundamental learning outcomes in realm of finance, regulation and ethics."


Abdussamed Mohamoud Ismail Hir