CII R04 Practice Test: 2 Full Mock Exams with ExplanationsFree try up to 5 min, Each mock up to 1 hTry freeup to 5 minUnlock all£ 14.90₹1,599$ 18.90€ 16.90£ 14.90CHF 15.90DKK 125SEK 179NOK 189PLN 69CZK 405AED 69SAR 75QAR 69KWD 5OMR 7BHD 7CA$ 25.90A$ 28.90NZ$ 30.90S$ 24.90HK$ 149RM 85Unlock full accessOne payment · start now£ 14.90₹1,599$ 18.90€ 16.90£ 14.90CHF 15.90DKK 125SEK 179NOK 189PLN 69CZK 405AED 69SAR 75QAR 69KWD 5OMR 7BHD 7CA$ 25.90A$ 28.90NZ$ 30.90S$ 24.90HK$ 149RM 85View detailsSecure payment · one-time, no subscription
ProSyllabus Journal

CII R04 Exam 2026/27: Format, Pass Mark, Syllabus and Tax Tables

The CII R04 Pensions and retirement planning exam for 2026/27: 50 questions in one hour, both question formats, questions per learning outcome, the 65% pass mark and the tax tables you get.

CII R04 Exam 2026/27: Format, Pass Mark, Syllabus and Tax TablesOpen the full article →

Checked 27 October 2026. The format, the learning-outcome weightings, the edition dates and the tax-table figures were read on the CII’s R04 unit page, syllabus, examination guide and 2026/27 tax tables on 25 October 2026. This syllabus applies to exams from 1 September 2026 to 31 August 2027; check the unit page before relying on a figure.

The CII R04 Pensions and retirement planning exam is 50 multiple-choice questions in one hour: 39 standard format and 11 multiple response. R04 is in the CII’s words “a core unit for the Diploma in Regulated Financial Planning which meets the FCA’s qualification requirements for retail investment advisers.” The syllabus now in force is examined from 1 September 2026 to 31 August 2027, on English law and practice in the 2026/27 tax year. This page sets out the two question formats, how many questions the syllabus gives each of its eight learning outcomes as a guide, the pass mark and how the CII adjusts marks, the tax tables you are given, the pension rules that changed recently, and the official practice material. ProSyllabus is an independent study site. It is not affiliated with the Chartered Insurance Institute (CII), and nothing here is official. Every format fact and figure below is quoted or summarised from the CII’s own pages and documents, read on 25 October 2026.

50
multiple-choice questions
1 hour
for the whole exam
39 + 11
standard format + multiple response
65%
standard pass mark (R04 unit page)

CII R04 unit page, syllabus and examination guide for exams from 1 September 2026 to 31 August 2027, read 25 October 2026.

The two question formats

The examination guide describes both. A standard format question “consists of a problem followed by four options, labelled A, B, C and D, from which the candidate is asked to choose the correct response. Each question will contain only one correct or best response to the problem posed.” One mark is awarded for each correct response, and “No marks are deducted for candidates choosing an incorrect response.”

A multiple response question “consists of a problem, followed by between four to six options. For each question more than one option is correct. Candidates must select all the correct options to gain the mark.” Miss one of the correct options and the question does not gain the mark. The syllabus’s guide puts all 11 of these in three learning outcomes: 2 in outcome 5 (defined contribution schemes), 4 in outcome 6 (drawing pension benefits) and all 5 of outcome 8 (the aims and objectives of retirement planning).

FormatHow manyOptionsCorrect optionsTo score the mark
Standard39Four, A to DOne (the correct or best)Choose that option
Multiple response11Four to sixMore than oneSelect every correct option

From the examination information in the CII’s R04 examination guide for 2026/27.

FreeTests: LO2 The HMRC tax regime for pensions · LO7 State schemes · LO6 Drawing pension benefits

CII R04 Practice Test: free sample

Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 4 minutes · free · no sign-in.

3 questions to answer▶  Start nowThis one is free · no sign-in neededYour result shows how long each question took you.

The syllabus: eight learning outcomes

The syllabus gives a number of questions for each learning outcome. It calls this a guide: the specification “has an in-built element of flexibility”, is “not a statement of actual number of questions that will appear in every exam”, and the number testing each outcome “will generally be within the range plus or minus 2 of the number indicated.” Outcome 2, the HMRC tax regime, carries the most questions: 10 standard questions on contributions and tax relief, the annual allowance and its taper, the lump sum allowances and death benefits. The examination guide adds that R04 examinations “test the Financial Conduct Authority and Prudential Regulation Authority rules and regulations”.

Learning outcomeQuestions (2026/27 syllabus)What it covers (our summary)
1. Understand the political, economic and social environment factors which provide the context for pensions planning5 standardGovernment policy and reforms (including the guidance guarantee), employers’ responsibilities, demographic trends and longevity, incentives and disincentives to save, and the main types of pension provision.
2. Understand how the HM Revenue & Customs (HMRC) tax regime applies to pensions planning10 standardContributions and tax relief, scheme investment funds, retirement and death benefits, transitional reliefs; the annual allowance and its taper, the money purchase annual allowance, the lump sum allowance, the lump sum and death benefit allowance and the overseas transfer allowance; QROPS and non-resident members.
3. Understand the relevant aspects of pensions law and regulation to pensions planning4 standardThe Pensions Regulator, pension protection, trust and contract-based schemes, pensions and divorce, employment and bankruptcy law, automatic enrolment and master trusts, and the duties of trustees and administrators.
4. Understand the structure, characteristics and application of Defined Benefit (DB) schemes to an individual’s pension planning7 standardTypes and rules of DB schemes, funding methods, trustees and scheme reporting, benefits on leaving, early and normal retirement, transfers in broad terms, ill-health and death benefits, top-ups and public sector schemes.
5. Analyse the range of Defined Contribution (DC) scheme options as they apply to an individual’s pension planning4 standard + 2 multiple responseTypes of DC scheme and their rules, contribution methods, legal bases, benefits on leaving and on death before and after age 75, and transfers.
6. Analyse the options and factors to consider for drawing pension benefits5 standard + 4 multiple responseState Pension timing, DB options, annuities, flexi-access and capped drawdown, short-term annuities, UFPLS, the compliance requirements, phased retirement, small pots and trivial commutation.
7. Explain the structure, relevance and application of State Schemes to an individual’s pension planning4 standardState retirement benefits past and present, the Pension Credit framework and State death benefits.
8. Evaluate the aims and objectives of retirement planning, including the relevant investment issues5 multiple responseRetirement aims and assumptions, cash flow and stress testing, investments and wrappers, accumulation and decumulation strategies, critical yield, asset allocation, self-investment, other sources of retirement capital and regular reviews.

Question numbers from the R04 syllabus examined from 1 September 2026 to 31 August 2027; the summaries are ours, from the CII’s assessment criteria and indicative content for 2026/27. Read the syllabus and indicative content themselves for the full list.

Questions per learning outcome, 2026/27 syllabus guide
LO15
LO210
LO34
LO47
LO56 (2 multiple response)
LO69 (4 multiple response)
LO74
LO85 (all multiple response)

From the R04 syllabus for exams from 1 September 2026 to 31 August 2027. The syllabus calls these numbers a guide: each will generally be within plus or minus 2 in any one exam.

The skill word at the start of each outcome tells you the kind of question to expect. The examination guide explains that an “understand” outcome can test knowledge or understanding; “analysis” questions typically “will relate to a given set of circumstances or provide data which requires analysis so a conclusion can be drawn”; “evaluation” questions typically ask for “the selection of the correct or best evaluation”; and an “explain” outcome may include “a calculation to evidence an explanation”. Outcomes 5 and 6 are analysis, outcome 7 is explain and outcome 8 is evaluate.

What is the R04 pass mark?

The CII’s R04 unit page states: “The standard pass mark is 65%”, and “The 2025 pass rate for this unit was 70.15%”. On 50 questions, 65% is 32.5 marks, so 33 correct answers is the first whole score at or above it (our arithmetic). The standard is not a fixed raw mark on every paper. The CII’s guide “Understanding your exam result” explains that, “where necessary”, it will “automatically adjust the marks that every candidate receives on that exam version to compensate them for the degree of difficulty encountered”, and that it “will always report to you the moderated number of marks/adjusted marks relative to the standard pass mark”. The examination guide adds that “A pre-defined quota of passes to be awarded does not exist.”

The examination guide says your feedback shows the result and, for each syllabus learning outcome, the percentage of questions you answered correctly.

Which tax year you are examined on

The 2026/27 R04 syllabus says candidates “will be examined on the basis of English law and practice in the tax year 2026/2027 unless otherwise stated”, and that “It should be assumed that all individuals have long-term UK residence status unless otherwise stated.” The examination guide states the general rule: “the new tax year and changes arising from the Finance Act will be examined from 1 September each year. Other changes, not related to the Finance Act, will not be examined earlier than 3 months after they come into effect.”

So an exam sat between 1 September 2026 and 31 August 2027 is on the 2026/27 tax year. The “Tax year” line in the qualification update on the CII’s R04 unit page, read on 25 October 2026, still named 2025/2026 for exams from 1 September 2025 to 31 August 2026; the 2026/27 syllabus and examination guide name 2026/2027.

The tax tables you are given

The examination guide says: “Extracts from tax tables will be provided at each examination”, and “Candidates may not take their own tax tables into the examination.” The CII’s supporting exam documents page lists the tax tables “provided for candidates taking examinations from 1 September 2026 to 31 August 2027” for R04 (shared with CF1, LP2, R01, R02, R03, R05, R07, J10 and J12). The pension and State benefit figures they print for 2026/2027:

AreaItem2026/27 (CII exam tax tables)
PensionsAnnual allowance£60,000, reduced by £1 for every £2 of adjusted income over £260,000 to a minimum of £10,000 if threshold income is also over £200,000
PensionsMoney purchase annual allowance£10,000
PensionsLump sum allowance£268,275 (may be higher with transitional protection, and may be reduced where benefits were crystallised before 6 April 2024)
PensionsLump sum and death benefit allowance£1,073,100 (may be higher with transitional protection, and may be reduced where benefits were crystallised before 6 April 2024)
State benefitsNew State Pensionfull rate £241.30 a week
State benefitsBasic State PensionCategory A and B full rate £184.90 a week; Category B (lower) full rate £110.75 a week
State benefitsPension Creditstandard minimum guarantee £238.00 a week (single), £363.25 a week (couple)
State benefitsBereavement Support Paymenthigher rate £3,500 lump sum and £350 a month; standard rate £2,500 lump sum and £100 a month
Income Tax and NICsBands and thresholdspersonal allowance £12,570; 20% up to £37,700 of taxable income, 40% above that and 45% over £125,140; Class 1 lower earnings limit £129 a week; Class 3 £18.40 a week

From the CII’s tax tables 2026-2027 for exams from 1 September 2026 to 31 August 2027, read 25 October 2026. The CII says its supporting exam documents are for study purposes and that some detailed rates or figures may differ from those in the examination.

Some figures R04 relies on are not in the tables. For automatic enrolment, the Department for Work and Pensions kept the 2025/26 thresholds for 2026/27: an earnings trigger of £10,000 and a qualifying earnings band of £6,240 to £50,270. For the new State Pension, GOV.UK says you need 10 qualifying years for any amount and, for a National Insurance record that started after April 2016, 35 for the full rate.

Pension rules to have straight for 2026/27

RuleWhere R04 stands for 2026/27Source
No lifetime allowanceThe lifetime allowance was abolished from 6 April 2024. Pension commencement lump sums, UFPLS and stand-alone lump sums are tested against the lump sum allowance (£268,275), and, on death before 75, lump sum death benefits against the lump sum and death benefit allowance (£1,073,100). A member’s overseas transfer allowance equals their lump sum and death benefit allowance.HMRC PTM171000, PTM102200; GOV.UK, Tax on a private pension you inherit; CII tax tables 2026/27
The taper has two testsThe annual allowance is tapered only if threshold income is over £200,000 and adjusted income is over £260,000.CII tax tables 2026/27; HMRC PTM057100
What triggers the MPAAA trigger event for the £10,000 money purchase annual allowance occurs immediately before the first payment from a member’s own flexi-access drawdown fund created by designating funds on or after 6 April 2015 (or re-designated as flexi-access on a transfer), unless the whole fund is attributable to a disqualifying pension credit, and when an UFPLS is paid for the first time; payments from a beneficiary’s flexi-access drawdown fund do not trigger the MPAA; payment of a pension commencement lump sum, or of a small lump sum, does not.HMRC PTM056520, PTM056530
Death before and after 75On death before 75, most lump sums are free of tax up to the deceased’s lump sum and death benefit allowance, but a lump sum paid more than 2 years after the provider is told of the death is taxed in full, and trivial commutation lump sums are normally subject to Income Tax at any age; money from a new drawdown fund (set up or converted and first accessed from 6 April 2015) is tax-free. On death at 75 or over, the provider deducts Income Tax from most lump sums and from annuity or drawdown income.GOV.UK, Tax on a private pension you inherit
Changes that start laterHMRC says most unused pension funds and pension death benefits will come into a person’s estate for Inheritance Tax from 6 April 2027. The CII’s November 2025 budget summary records that NICs will be charged on salary-sacrificed pension contributions above £2,000 a year from 6 April 2029. Normal minimum pension age rises from 55 to 57 from 6 April 2028. The 2026/27 syllabus examines English law and practice in the tax year 2026/2027; all three changes start in later tax years.HMRC policy paper, Inheritance Tax: unused pension funds and death benefits; CII budget summary November 2025; HMRC PTM062215

Our summary of pension rules and announced later changes, with the official source for each; read the source before relying on a detail.

FreeTests: LO2 The HMRC tax regime for pensions · LO7 State schemes · LO6 Drawing pension benefits

CII R04 Practice Test: free sample

Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 4 minutes · free · no sign-in.

3 questions to answer▶  Start nowThis one is free · no sign-in neededYour result shows how long each question took you.

How the exam is taken

You can sit R04 at an exam centre or by remote invigilation. For remote invigilation, the examination guide says that once you have booked you can launch a tutorial from your MyCII/MyPFS dashboard, which “can only be accessed three times”, and which you cannot open in the 2 hours and 30 minutes before your scheduled exam. A calculator must be a silent battery or solar-powered non-programmable calculator; a financial or scientific calculator is allowed if it meets those rules. You may make rough notes.

Official practice from the CII

ResourceWhat it holdsWhere
R04 examination guideThe syllabus, examination information, a specimen examination, specimen tax tables, and the answers with the learning outcome each question coversOn the R04 unit page
Exam guide updatesSpecimen questions amended after a guide was first publishedThe “Exam guide update” section of the R04 unit page
Revision aidsKey Facts Booklet, Knowledge Checker (multiple-choice questions on the study text), E-learn and Audio RevisionFrom the CII
Revision ExtraA digital course with video support covering the syllabus, plus practice questions; not part of Enrolment plusBought separately from the CII

From the CII’s R04 unit page and examination guide, read 25 October 2026. No prices were in the page text we read.

For questions in the same format, our R04 practice questions page works through three questions from the ProSyllabus CII R04 practice test, an independent test of two full 50-question exams for the 2026/27 tax year.

What we could not find

QuestionWhat we found
How far marks are adjusted on a given exam versionThe pages we read describe the method only, not the adjustment for any real exam version.
R04 feesNo fee amounts were in the unit-page text we read, so none is quoted here.
Past R04 papersNone on the pages we read; the examination guide contains a specimen examination.

Frequently asked questions

How many questions are in the CII R04 exam?

50 multiple-choice questions: 39 standard format and 11 multiple response, in one hour.

What is the R04 pass mark?

The CII’s R04 unit page states that the standard pass mark is 65%. Where necessary the CII adjusts marks for the difficulty of each exam version, and it reports your result against the standard pass mark. The page gives the 2025 pass rate as 70.15%.

Which tax year is R04 examined on?

For exams sat from 1 September 2026 to 31 August 2027, the 2026/27 tax year, on English law and practice unless otherwise stated.

Do I get tax tables in the R04 exam?

Yes. The examination guide says extracts from tax tables are provided at each examination and you may not take your own in. The CII publishes the tables for exams from 1 September 2026 to 31 August 2027 on its supporting exam documents page; they include the annual allowance, the lump sum allowances and the State Pension and Pension Credit rates.

How do R04 multiple response questions work?

Each has four to six options, more than one of them correct, and you must select all the correct options to gain the mark. There are 11: the syllabus’s guide puts 2 in learning outcome 5, 4 in outcome 6 and 5 in outcome 8.

Is there negative marking in R04?

No. The examination guide says no marks are deducted for choosing an incorrect response.

Is the lifetime allowance still examined in R04?

The lifetime allowance was abolished from 6 April 2024. The 2026/27 syllabus still names it in learning outcome 2 alongside the lump sum allowance, the lump sum and death benefit allowance and the overseas transfer allowance, which are the allowances that apply now; the 2026/27 tax tables print the lump sum allowance and the lump sum and death benefit allowance.

More in this series

Sources

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.

FreeTests: LO2 The HMRC tax regime for pensions · LO7 State schemes · LO6 Drawing pension benefits

CII R04 Practice Test: free sample

Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 4 minutes · free · no sign-in.

3 questions to answer▶  Start nowThis one is free · no sign-in neededYour result shows how long each question took you.
Practice testTwo full R04 mock exams for the 2026/27 tax year
  • 100 original questions: two exams of 50
  • One hour each, as in the real exam
  • 39 standard and 11 multiple response questions per exam (multiple response shown as numbered statements)
  • Figures from the CII's 2026/27 exam tax tables
  • Every pension calculation worked step by step
  • Your score by learning outcome
Free try up to 5 min, Each mock up to 1 h£ 14.90₹1,599$ 18.90€ 16.90£ 14.90CHF 15.90DKK 125SEK 179NOK 189PLN 69CZK 405AED 69SAR 75QAR 69KWD 5OMR 7BHD 7CA$ 25.90A$ 28.90NZ$ 30.90S$ 24.90HK$ 149RM 85Try 3 questions freeup to 5 minUnlock the R04 practice testUnlock full accessOne payment · start now£ 14.90₹1,599$ 18.90€ 16.90£ 14.90CHF 15.90DKK 125SEK 179NOK 189PLN 69CZK 405AED 69SAR 75QAR 69KWD 5OMR 7BHD 7CA$ 25.90A$ 28.90NZ$ 30.90S$ 24.90HK$ 149RM 85View detailsSecure payment · one-time, no subscription
Exam alertsGet alerts for CII R04 Pensions and Retirement PlanningDates, results and cutoffs, by email when they are announced. Free.Sign in to get alerts
Exam pagePreparing for CII R04 Pensions and Retirement Planning?Syllabus, exam pattern, dates and every guide we have on CII R04 Pensions and Retirement Planning, in one place.Open the CII R04 Pensions and Retirement Planning page →