Let’s face it—balancing a career in financial advice with the demands of professional exams can sometimes feel like juggling chainsaws on a tightrope. So, what study techniques are actually working for people in the industry? IFA Magazine’s Senior Financial Journalist, Jenny Hunter (having made it through a lot of exams herself!) takes a look at some of the study strategies that can help you get through your next exam without losing your sanity – though you might have to give up your social life.
The good news? You don’t have to do it the hard way—or someone else’s way. The most successful candidates aren’t necessarily the ones who spend the most time with their heads in the books; they’re the ones who find a method that suits their lifestyle, learning style, and mindset.
Jenny explores key strategies for mastering professional qualifications, bringing together insights from Nicola Mellor, Director of Qualifications and Assessment at the PFS[i], recent IFA magazine poll[ii] results, and proven study techniques that can hopefully help you pass without burning out.
Rethinking the humble textbook
Textbooks can be… well, let’s say “thorough.” While they’re undeniably comprehensive, ploughing through them cover to cover doesn’t work for everyone.
One popular approach is to treat the textbook like a reference tool. Skim for structure first, understand the layout of each chapter, and then dive in with purpose. Don’t forget to highlight key points and make notes in your own words—this reinforces understanding and makes revision much faster.
Supplement your reading with past papers and examiner reports too – 50% of respondents from a recent poll said these were the most useful resources for passing exams.
The poll results also highlight that only 6% of respondents relied solely on textbooks, suggesting that while textbooks provide the foundational knowledge, other resources are equally important for effective study and exam success. Incorporating multiple resources can make studying more dynamic and less monotonous.
Time manage your way to exam success
According to the poll, 76% of respondents said that finding time alongside work was their biggest challenge. Nicola Mellor, Director of Qualifications and Assessment at the PFS suggests that “scheduling dedicated study time can make a significant difference.” This could involve blocking out specific periods each day or setting up weekly study sessions.
Whether it’s allocating two hours every morning before work or setting aside full study days on weekends, having a structured plan ensures that no subject area is neglected. For some, breaking down large study sessions into 25-minute blocks with five-minute breaks – known as the Pomodoro technique – can improve focus and prevent burnout. Effective planners often set specific, measurable goals for each study session, such as completing a chapter, summarising key points, or completing a mock exam under timed conditions.
“Don’t forget to build in time to rest and other demands on your time in your study plan,” Mellor advises. “Keeping a checklist of your progress can also help you stay on track and feel a sense of accomplishment.”
Finding your study style
Note-taking is a personal art. For some, it’s neat bullet points and colour-coded pages. For others, it’s scribbles and arrows on a whiteboard. What matters most is that the process helps you engage with the content—not just copy it out.
According to our poll, 40% of respondents said their go-to study method was reading and making notes. Flashcards, acronyms, and memory techniques each received 20% of the votes, while mind maps and visual tools were favoured by another 20%. Interestingly, study groups and structured revision courses received zero votes, indicating that most professionals prefer to work alone.
But while studying solo is the norm, Mellor emphasises the value of connecting with peers: “Peer support can make a real difference to everything from keeping you accountable to practising past questions.” The PFS offers peer support through local committees and the e-connect mentoring platform, where members can connect based on specific skills and criteria.
Mind maps can be a game-changer, especially for visual learners. They help you link ideas together—useful for understanding tax wrappers, IHT planning strategies, or the relationship between different FCA regulations. Plus, creating them helps build that all-important mental model of the topic. If you’re interested in the art of mind maps, then Tony Buzan’s work on memory and mind mapping is unrivalled.
If you’re revising under pressure or trying to recap big subjects in little time, consider using a “condense and summarise” method: full notes → shorter notes → flashcards. Each stage forces you to distil the information and retain what’s really important.
For more advanced exams, it’s all about application, so focus more on case studies, examiner reports and past questions than re-reading definitions.
Tricks of memory
For those of us who don’t have a photographic memory (which is most of us), a few simple techniques can go a long way.
Some professionals swear by the memory palace technique—linking key ideas to physical spaces in your house or office. It might sound a bit out there, but it works surprisingly well for exams where you need to recall lists or processes under pressure.
Mellor also highlights the value of active recall: “We recommend using questions to check your progress. Our chapter quizzes and Knowledge Checkers assess what you have learnt and give you references back to the study text when you answer incorrectly.” This approach not only reinforces key concepts but also helps identify areas where further review is needed.
The key is repetition. Whether it’s reading out loud, teaching a concept to someone else, or using an app like Anki or Quizlet, build in active recall. Passively re-reading your notes doesn’t cut it after a while.
Letting your ears do the work
If you’re commuting, walking the dog, or trying to give your eyes a break, audio can be a surprisingly effective study tool. Some candidates record their own revision notes and play them back, others use professional resources or podcasts that cover key topics.
It’s not about absorbing every word—it’s about keeping the content familiar. Listening reinforces learning and gives your brain another way to process the information. And if you’re stuck on a tricky subject, hearing it explained out loud can often unlock something that the page just doesn’t.
Honestly, it’s not for everyone, but if you have time that would otherwise be wasted, it’s at least worth a shot.
Doubling up on exams
Taking two exams at once can be a risky move, but for some, it’s a time-saving strategy. In the poll, 17% said they’d done it before and would do it again, while 22% said they were considering it.
Mellor advises that certain CII units “pair well in terms of similar themes or topics that build on each other,” such as J02 Trusts and AF1 Personal Tax and Trust Planning. However, she cautions against taking on too much at once, emphasising the importance of realistic planning.
Combining exams may also provide a sense of momentum, but it requires diligent time management and strategic revision planning. For example, tackling an R0 and an AF exam in the same sitting might allow you to reinforce foundational knowledge while also applying it to practical scenarios.
“It’s vital to assess your capacity honestly – and be prepared to adjust your schedule if needed,” Mellor advises. “Prioritising which exam is more critical for immediate career progression can also guide your decision.”
Support is everywhere—use it
Studying for professional exams can be mentally and physically taxing, so maintaining overall well-being is crucial. Mellor underscores the importance of balance: “It’s all about balance – planning time for work, study and rest can make a world of difference to your success and your sanity”.
Additionally, the PFS provides resources on managing stress, staying motivated, and maintaining mental well-being during study periods. Techniques like mindfulness, breathing exercises, and regular exercise can help keep stress levels in check.
One of the biggest mistakes candidates make is trying to do it all solo. There’s a reason the most successful individuals use structured support—whether that’s a branded study programme, a revision workshop, or a WhatsApp group of fellow students.
Providers like Brand Financial Training, BTS and Expert Pensions all offer tailored materials, mock exams and study plans. Many paraplanners and advisers credit these resources with helping them finally “crack” exams, particularly when textbook learning alone wasn’t enough.
And let’s not forget peer support. Sometimes a ten-minute chat with someone who’s sat the exam last year is more useful than three hours of solo revision. Sharing tips, talking through case studies, and checking each other’s knowledge keeps things fresh—and keeps you accountable.
The right route for you
Perhaps the most important thing to remember is that there’s no one-size-fits-all when it comes to study.
Some people fly through exams with minimal prep. Others need time and structure. Some love the challenge of advanced exams; others thrive with specialist routes like the CII’s new Level 6 qualifications or CISI alternatives. The end goal—being a better, more informed adviser—can be achieved in different ways.
So, choose the path that fits your lifestyle, your learning style, and your pace. And if you need to take a breather between exams? That’s fine too. Professional development is a marathon, not a sprint.
As Mellor says, “What really counts is building the knowledge, confidence and skills to support your clients for years to come.” So, take a deep breath, plan your study strategy, and remember – you’ve got this.
About Jenny Hunter
Jenny Hunter is a Senior Financial Journalist at IFA Magazine. Qualified as a Paraplanner and Chartered Financial Planner herself, her perspective and insight into the business of advice is based on over a decade of personal experience working in the profession.
