Investment Operations Certificate

EQF Level 4

This Certificate is a global practitioner-led programme for administration and operations staff working in both wholesale and retail firms. It equips individuals with an overview of the financial services industry and its regulation as well as providing a detailed picture of their particular industy sector.

This programme incorporates a range of exams that present different technical activities within the industry and is taken by over 10,000 candidates a year. Completing the IOC demonstrates professionalism and commitment to high standards and offers progression to high-level qualifications and career progress.  Each IOC unit comprises a one-hour, 50 MCQ exam (with the exeption of Risk in Financial Services). Candidates may be required to answer up to 10% additional trial questions that will not be seperatly identified and do not contribute to the result. Candidates will be given proportionately more time to complete the test. The IOC is awarded on the basis of passes in three units. The pass mark for each unit is 70%. Exams are sat for electronically at a local based-computer centre.

Unit selection depends on individual circumstances but generally candidates are in an overseeing role within a firm which is authorised and regulated by the MFSA. These candidates are encouraged to undertake the: Introduction to Securities & Investments; Principles of Financial Regulation / FSA Financial Regulation (or alternatively the ifs Malta Maltese Financial Regulation) and a technical unit relevant to their role.

Core - Introduction to Securities & Investments

Regulatory - FSA Financial Regulation (or) Principles of Financial Regulation (or) Maltese Financial Regulation

Technical: (one of the following)
- Administration of Settlement & Investments
- Asset Servicing
- Collective Investment Schemes Administration
- CREST Settlement
- Exchange-Traded Derivatives Administration
- Global Securities Operations
- IT in Investment Operations
- ISA Administration
- Operational Risk
- OTC Derivatives Administration
- Risk in Financial Services

Awarding Body:

Chartered Institute for Securities & Investments

Study Hours:

8 hours study-time per unit


1-hour, 50 MCQ per Unit

Additional Info:



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by the National Commission for Further and Higher Education (NCFHE) bearing license No. 2013-FHI-017

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