Time to AF1 exam October 12 9.30 am
AF1 follows the standard AF structure:
- Three questions
- Case study based
- Three hours
- 160 marks
- Nominal pass mark 55%
To pass you need an in depth knowledge of personal taxation and how to apply these to individuals who have good levels of wealth and complex needs.
In addition you will need a knowledge of trusts, their taxation and how they can be used by individuals.
You will also need a good knowledge of wills & intestacy, powers of attorney and bankruptcy.
Everyone has their own method of preparing for the exam but to make the best use of your time your studying should be efficient. Identify what it is your trying to learn, e.g. treatment of losses for CGT, research it using my notes, the CII text book and also through the internet
Draw up what you have found and explain it to yourself by writing notes.