Checked 25 October 2026. The format facts were read on the CII’s R01 syllabus and examination guide for 2026/27 on 25 October 2026. The three questions follow FCA rules and English law as at October 2026.
R01 practice questions are most useful in the exam’s own shape: 100 questions in two hours, 87 standard and 13 multiple response. Below are three questions worked through, one of them a multiple response question, with the explanation and the rule behind each answer. They come from our own independent R01 practice test, written to the CII’s 2026/27 syllabus. The CII’s own specimen examination is in its R01 examination guide, which you can download from its R01 unit page; use that too. ProSyllabus is an independent study site. It is not affiliated with the Chartered Insurance Institute (CII), and nothing here is official. Every format fact below is quoted or summarised from the CII’s own pages and documents, read on 25 October 2026.
Three worked R01 questions
Each question is printed exactly as it appears in the ProSyllabus CII R01 practice test, with the explanation the test gives after you answer.
Question 1 · LO5 The regulators' responsibilities and approach
The board of an authorised firm is checking its retail business against the Consumer Duty. Which of the following obligations is one of the Duty's three cross-cutting rules?
- Making sure that no retail customer ever suffers a financial loss on a product.
- Selling each retail customer the cheapest product in the firm's range.
- Enabling and supporting retail customers to pursue their financial objectives.
- Acting as a fiduciary for every retail customer the firm deals with directly.
Answer: C. The three cross-cutting rules require a firm to act in good faith towards retail customers (PRIN 2A.2.1R), avoid causing them foreseeable harm (PRIN 2A.2.8R) and enable and support them to pursue their financial objectives (PRIN 2A.2.14R). The Consumer Duty does not create a fiduciary relationship where one would not otherwise exist (PRIN 2A.1), and none of the three rules requires a firm to prevent every loss or to sell the cheapest product.
From the ProSyllabus CII R01 practice test: an original question, not a CII specimen or exam question. It is one of that test’s three free questions.
Question 2 · LO7 The regulatory advice framework
Following advice in a face-to-face meeting, Hari starts a personal pension. None of the exemptions in COBS 15 applies. How long is his cancellation period under the FCA's rules?
- There is no right to cancel
- 30 calendar days
- 14 business days
- 14 calendar days
Answer: B. A contract to join a personal pension scheme carries a 30 calendar day right to cancel (COBS 15.2.1R), subject to the exemptions in COBS 15, none of which applies to Hari. Some other contracts carry 14 calendar days instead, for example a non-distance contract to buy a unit in a regulated collective investment scheme following a personal recommendation or ready-made suggestion, again subject to the exemptions.
From the ProSyllabus CII R01 practice test: an original question, not a CII specimen or exam question. It is one of that test’s three free questions.
Question 3 · LO7 The regulatory advice framework · multiple response
Daniel is reviewing how his firm categorises its clients under the Conduct of Business sourcebook. Which of the following statements are correct?
- A retail client is any client who is not a professional client or an eligible counterparty.
- An individual can be categorised as an eligible counterparty simply because they have large savings.
- Being treated as a retail client gives a higher level of protection than being treated as a professional client.
- A professional client may ask to be treated as a retail client to receive more protection.
More than one statement is correct. Choose the option that lists every correct statement and no other.
- 2, 3 and 4 only
- 1 and 3 only
- 1, 3 and 4 only
- 1, 2 and 3 only
Answer: C. Statements 1, 3 and 4 are correct. A retail client is a client who is not a professional client or an eligible counterparty (COBS 3.4.1R). Retail treatment gives a higher level of protection, which is why a firm must allow a professional client to ask to be re-categorised as a client with a higher degree of protection (COBS 3.7.1R). Per se eligible counterparties are bodies such as investment firms, credit institutions and insurers (COBS 3.6.2R), and a firm may treat a client as an elective eligible counterparty only if the client is an undertaking that is a per se professional client and meets the other conditions (COBS 3.6.4R and 3.6.4AR). Large savings alone therefore never make an individual an eligible counterparty.
From the ProSyllabus CII R01 practice test: an original question, not a CII specimen or exam question. It is one of that test’s three free questions.
| Question | Learning outcome | Answer |
|---|---|---|
| 1 | LO5 The regulators' responsibilities and approach | C: Enabling and supporting retail customers to pursue their financial objectives. |
| 2 | LO7 The regulatory advice framework | B: 30 calendar days |
| 3 | LO7 The regulatory advice framework | C: 1, 3 and 4 only |
The table repeats the three answers for readers on a version of this page that does not show the cards.
How multiple response questions are scored
In the real exam a multiple response question has between four and six options, and the examination guide says: “For each question more than one option is correct. Candidates must select all the correct options to gain the mark.” In our practice test the player takes one answer per question, so each of our multiple response questions lists numbered statements and you choose the one option that names every correct statement and no other, as in question 3 above; you score only if you pick that option.
Using a timed mock well
| Step | What to do (our suggestion) |
|---|---|
| Time it | Sit 100 questions in two hours in one go: 72 seconds a question on average (our arithmetic). Mark questions you are unsure of and come back to them. |
| Score by learning outcome | The CII’s own feedback reports the percentage you answered correctly on each learning outcome. Do the same with a mock: the syllabus gives outcome 5 about 29 questions, so a weak score there costs the most. Compare your total with the 65% standard pass mark. |
| Read every explanation | Including the ones you got right. A right answer for the wrong reason will not hold up when the question is worded differently. |
| Check the edition | Use material for the 2026/27 syllabus if you sit between 1 September 2026 and 31 August 2027. Figures such as compensation limits can change during a year; the qualification update on the CII’s R01 unit page gives the dates from which named changes are examined. |
The format facts are from the CII’s R01 syllabus and examination guide for 2026/27. The R01 format guide sets out every learning outcome and its number of questions.
Reading your mock score
| Correct answers out of 100 | Against the 65% standard pass mark | What we would do next (our suggestion) |
|---|---|---|
| 70 or more | Comfortably above | Keep one timed mock for the week of the exam; read the explanations of every question you missed. |
| 65 to 69 | At or just above | Too close to rely on. Work on your two weakest learning outcomes, then sit another timed mock. |
| 60 to 64 | Just below | Go back to the study text for the outcomes where you dropped most marks, especially outcome 5. |
| 59 or fewer | Well below | Finish the study text before another timed mock; use a mock to find gaps, not to learn the material. |
The same comparison without the tool. The 65% standard pass mark is from the CII’s R01 unit page; the bands and suggestions are ours. The CII adjusts marks where necessary for the difficulty of each exam version.
Traps to watch for in R01 questions
| Trap | What happens | What to do (our suggestion) |
|---|---|---|
| Negative wording | The examination guide says negative words are emphasised in capitals, for example NOT and CANNOT. Missing one could lead you to choose the wrong answer. | Read the stem twice when it contains a capitalised word, and re-read your chosen option against it. |
| Qualifiers in bold | The guide lists words such as maximum, minimum, main, most, normally and usually, which it emphasises in bold type. | Ask which option is best on the facts given, not which is true in general. |
| Multiple response needs every correct option | The guide says: “Candidates must select all the correct options to gain the mark.” | Judge each option on its own as true or false before you look at how many you have ticked. |
| Rules that changed during the year | The CII examines changes not related to the Finance Act no earlier than three months after they take effect, and lists dated changes on its unit page. | Check the unit page’s qualification update before the exam; for example, on 30 September 2026 the data protection regulator moved to a new legal entity, the Information Commission, while the organisation is still referred to as the ICO. |
| Time | Two hours for 100 questions is 72 seconds a question on average (our arithmetic). | Leave a question you cannot settle, as the examination guide suggests, and come back to it with the time left. |
The traps are drawn from the examination information and examination technique sections of the CII’s R01 examination guide for 2026/27 and the qualification update on its unit page; the suggestions are ours. The ICO’s own news release, dated 30 September 2026, describes the move to the Information Commission.
Official practice from the CII
The CII’s R01 examination guide for exams from 1 September 2026 to 31 August 2027 can be downloaded from its R01 unit page. It contains a specimen examination with its answer key and the learning outcome each question covers, and the CII suggests allowing two hours for it. Enrolment plus adds the Knowledge Checker, a set of multiple-choice questions on the study text, and Revision Extra, sold separately, includes practice questions.
Frequently asked questions
Where can I find CII R01 practice questions?
The CII’s R01 examination guide, on its R01 unit page, contains a specimen examination with answers. Its Knowledge Checker (in Enrolment plus) and Revision Extra (sold separately) add practice questions. Independently, the ProSyllabus CII R01 practice test has two full 100-question exams, three questions of which are free and worked through on this page.
Are the questions on this page real R01 exam questions?
No. They are original questions written to the learning outcomes of the CII’s 2026/27 R01 syllabus. They are not CII specimen or exam questions and the CII has not written or endorsed them.
How long should an R01 mock take?
Two hours for 100 questions, the time the real exam allows.
How are R01 multiple response questions marked?
The examination guide says candidates must select all the correct options to gain the mark.
Which rules do these questions follow?
UK regulation as at October 2026 and English law, for the 2026/27 syllabus.
More in this series
Sources
- official — CII: R01 examination guide for exams from 1 September 2026 to 31 August 2027 (published June 2026), with a specimen examination
- official — CII: R01 Financial services, regulation and ethics, examination syllabus, examined from 1 September 2026 to 31 August 2027 (published June 2026)
- official — CII: R01 indicative content 2026/2027 (assessment criteria and indicative content per learning outcome)
- official — CII: Financial Services, Regulation and Ethics (R01), unit page with the testing position and exam guide updates (read 25 Oct 2026)
- official — ICO: ICO welcomes transition to new Information Commission (30 September 2026)
official = a document published by the conducting body. reported = a news or coaching site we could not check against an original. Where sources disagree this page says so rather than picking one.
