R04 Top Tips for Success
The R04 exam contains a large amount of detailed information, which can be challenging to study and remember. With around 40% of candidates failing at each sitting, it is vital to understand the exam structure and focus your study effectively.
About the R04 exam
- 50 questions in total
- 39 multiple-choice single response questions
- 11 multiple-response questions
- 1 hour allowed
- Pass mark: 65% (33 correct answers)
- Recommended minimum 60 study hours
- Previous pass rates available on the CII exam pass rates page
Common exam myths
1. “It involves lots of complicated calculations”
False. Only around 10 questions involve calculations, and they are relatively simple.
2. “There are only 50 questions so I will have plenty of time”
Untrue. With just 1 hour, you have around 72 seconds per question. Time management is essential.
3. “All syllabus areas are covered equally”
Not correct. Over half of the questions come from chapters 2, 6, 7 and 8, so these require more focus.
4. “I must memorise every date in pensions legislation”
Not necessary. Focus on key dates such as pension simplification, pension freedoms, and the introduction of the single-tier state pension.
5. “Taxation is heavily examined”
Only around 10 taxation questions appear. Focus on the main principles and implications rather than complex calculations.
Key knowledge areas
Focus on areas that appear regularly in exams, including:
- Lump sum death benefit rules
- Beneficiaries of pension funds
- Differences between SIPPs and SASSs
- Roles of trustees, administrators, actuaries, auditors and investment managers of DB schemes
Detailed understanding of these topics can make a significant difference to your chances of success.
Study time
The CII recommends 60 hours of study, but more may be needed for those new to pensions. The syllabus covers pensions background, state benefits, income options and HMRC tax rules. Effective study methods include:
- Creating and sticking to a plan
- Using varied study techniques
- Studying in short sessions with breaks
- Rewarding progress to maintain motivation
Our Learning to Learn courses provide strategies to maximise study effectiveness.
Do
- Use practice questions throughout your study
- Familiarise yourself with tax tables (these will be provided in the exam)
- Practise with exam guides and mocks under timed conditions
- Answer as many practice questions as possible
- Read questions carefully — details often guide you to the answer
- Practise with your calculator and ensure it meets CII requirements
Do not
- Spend time learning lengthy calculations — they will not appear in the exam
- Leave any question unanswered — guessing still gives you a chance of a mark
- Spend more than one minute per question — move on and return later
Practice questions
The R04 Gap Analysis and Assessment Tool provides 300 practice questions, reflecting the mix and weighting of the actual exam. Options include:
- 25-question (30 minutes) or 50-question (60 minutes) assessments
- Revision style — answers shown after each question
- Exam style — results shown at the end
Questions are randomly selected and not repeated until the full bank has been used. Results provide total marks, marks per learning outcome, and explanations with references to the online course.
Find out more in our training directory. | 
