R01 Mock Exam

CII R01 Financial Services,
Regulation & Ethics

364 realistic practice questions covering every learning outcome — with instant explanations, timed exam mode, and targeted practice to highlight your weak areas.

364 questions 11 learning outcomes Updated 2025/26 100 MCQs · 2 hours Pass mark 65%

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What you get

Everything you need to pass R01

Structured practice that mirrors the real exam — not random question banks.

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364 exam-standard questions

Every question written to match the CII's style and difficulty — not generic financial services trivia.

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Timed exam mode

Simulate the real 2-hour paper with a 100-question timed test. Get your score and full explanations after.

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Practice by learning outcome

Drill any of the 11 LOs individually to target your weaknesses — ideal in the final week before the exam.

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Instant explanations

Every question includes a detailed explanation of why each answer is right or wrong — not just the correct letter.

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Progress tracking

See your score history and accuracy by learning outcome. Know exactly where to focus your remaining study time.

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Updated for 2025/26

Consumer Duty, current FSCS limits, FOS rules and the latest FCA guidance — all reflected in our question bank.

Sample question

See the question quality

Every question is written to the standard you'll face in the real R01 exam.

R01 · LO1 Financial services industry structure

Which body is primarily responsible for managing the UK's national debt and issuing government gilts?

A The Bank of England
B The Financial Conduct Authority
C HM Treasury
D The Debt Management Office

Correct answer: D

The Debt Management Office (DMO), an executive agency of HM Treasury, is the body specifically responsible for managing the UK's national debt and issuing gilts. The Bank of England manages monetary policy, the FCA regulates financial services firms, and HM Treasury sets fiscal policy — but the operational debt management function belongs to the DMO.

Syllabus coverage

All 11 R01 learning outcomes

Questions mapped to every learning outcome so you can see exactly where you stand.

LO1The financial services industry — structure, regulation and the role of the FCA

LO2The regulatory framework — authorisation, permissions and approved persons

LO3Conduct of business — suitability, disclosure and financial promotions

LO4Client money and assets — CASS rules and protections

LO5Complaints and redress — FOS, FSCS and firm procedures

LO6Ethics and professional standards in financial services

LO7Consumer Duty — outcomes, rules and application

LO8Financial crime — money laundering, fraud and insider dealing

LO9Data protection and confidentiality — GDPR principles

LO10Equality, diversity and inclusion obligations

LO11The advice process — fact-find, suitability and record-keeping

Common questions

R01 exam FAQs

Everything you need to know before you start revising.

The CII R01 exam contains 100 multiple-choice questions to be answered in 2 hours.

The pass mark for R01 is 65% (65 correct out of 100).

R01 covers the financial services industry, FCA regulation, conduct of business rules, Consumer Duty, financial crime, data protection, ethics, and the advice process.

Focus on the FCA regulatory framework, Consumer Duty outcomes, and FSCS/FOS limits. Practise timed mock questions and review explanations carefully for any you get wrong.

CII R01 Financial Services,Regulation & Ethics