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AF1 Personal tax and trust planning is a level 6 exam and is one of the optional units on the Advanced Diploma in Financial Planning.

It’s an exam that builds on the knowledge from the level 4 R03 unit to develop specialist knowledge of tax and trusts and application to practical situations. It is a 3-hour written exam comprising of 3 case study based questions. With a 2024 pass rate of 43% it is a tricky exam requiring a critical appraisal of the various financial planning options available.

Passing AF1 needs a very focused approach when it comes to your study plan. This is a challenging exam with a wide syllabus, which means candidate knowledge levels and their ability to apply this knowledge to case studies needs to be good. Last minute cramming will generally not result in an exam pass – a ‘little and often’ approach is recommended, as always with any advanced exam.