LP1 Life and Pensions Customer Operations
The LP1 (Life and Pensions Customer Operations) exam forms the first part of the Certificate in Financial Services. It is a level 3 paper, worth 15 credits toward the qualification.
Forms part of |
The Certificate in Financial Planning. |
Credit awarded |
15 |
Exam length |
90 minutes |
Exam type |
Multiple Choice |
Exam content |
15 questions followed by a further 35 questions based on 7 case studies (5 questions per case study) |
Pass Mark |
In the region of 70% |
Learning Outcome 1 |
Understand the life and pensions customer. |
Learning Outcome 2 |
Understand the key functions within life and pensions customer operations. |
Learning Outcome 3 |
Understand the importance of clear and accurate information in attracting and selling to customers. |
Learning Outcome 4 |
Apply appropriate customer services principles, processes and techniques to customer communications. |
Learning Outcome 5 |
Understand the difference between advice, guidance and information in a customer communication context. |
Learning Outcome 6 |
Understand the importance of recording, managing and responding to customer feedback. |
Learning Outcome 7 |
Understand the characteristics of effective teams. |
Course Overview
The LP1 (Life and Pensions Customer Operations) exam forms the first part of the Certificate in Financial Services. It is a level 3 paper, worth 15 credits toward the qualification.
The exam itself is a 90-minute computer-based multiple-choice exam. There are an initial 15 questions followed by a further 35 questions based on 7 case studies (5 questions per case study). It can be taken at test centres throughout the country. As the exam is computer-based, you can sit it on a date of your choosing throughout the year providing more flexibility to accommodate your studies.
The nominal pass mark is 70% and as this is a computer-based test rather than a written test it is unlikely that there will be much deviation from this unless a question is subsequently found to be invalid. So, in terms of the mark needed to pass, you are looking at a minimum of 35/50.
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