CIWM Exam Information and Outline
Certified International Wealth Manager
Syllabus Update Checked on: October 30, 2026
CIWM Exam Syllabus & Study Guide
Before you start practicing with our exam simulator, it is essential to understand the
official CIWM exam objectives. This course outline serves as your roadmap.
The information below reflects the 2026 syllabus defined by
AIWM.
Below are complete topics detail with latest syllabus and course outline, that will help you good knowledge about exam objectives and topics that you have to prepare. These contents are covered in questions and answers pool of exam.
- Exam Format
- One examination with open (written) questions; duration 4 hours
- 1. Wealth Management
- Risk, probability and portfolio characteristics (mean-variance and behavioural)
- Client profile: return objectives, horizon, liquidity, taxes, constraints
- Portfolio optimization: efficient frontier, GMVP, tangency portfolio, two-fund separation
- Asset and liability management: longevity, volatility and inflation risk
- Investment policy and investment committees
- Hedging strategies: futures, portfolio insurance, covered calls, 130/30 funds
- 2. Financial Instruments
- Exotic options, swaps, CFDs and credit default swaps
- Structured products
- Real estate valuation and role in mixed-asset portfolios
- Life insurance and insurance wrappers in private banking
- 3. Behavioural Finance
- Behavioural biases, market anomalies and style investing
- Applications in client relationships and wealth planning
- 4. Relationship Management
- Economics of client relationships and client profiling
- Cross-cultural relationships and professional performance
- 5. Taxation of Financial Products
- Taxation of derivatives and structured products
- 6. Corporate Finance
- Company financial analysis and projections
- Capital budgeting, capital structure, M&A
- Equity valuation methods