Level 4 diploma · MCQ units
DipFA mock exams and practice papers for FSRE and the AFA modules
Timed papers in the real formats. Module 6 coursework is not in this library.
34 mocks across FSRE (FRE1 and FRE2), taxation, investment, protection and retirement planning — 45-minute AFA papers at 21/30, FSRE at the shared 70% pass mark, with an explanation on every question.
After you sit a paper, a Smart Paper focuses on where you still need help.
Official exam fees vs this site
- Walbrook exam
- £1,400
- Official resit
- £110 / unit
- This site, once
- £29.99
No subscription. FRE1 Paper 1 is free in full, so you can judge the quality before you pay a penny. Sold by module if you only need one.
What these papers cover
DipFA is a Level 4 diploma. The multiple-choice units are FSRE (the same FRE1 and FRE2 papers CeMAP candidates sit) plus four Applied Financial Advice modules: taxation (AFAT), investment (AFAI), protection (AFAP) and retirement planning (AFAR). Each AFA unit is 20 standalone questions plus two case studies of five linked questions — 30 marks, 45 minutes, 21/30 to pass.
- FSRE — FRE1 and FRE2, 40 marks each, 60 minutes, 70% pass.
- AFAT / AFAI / AFAP / AFAR — two units per module, 30 marks, 45 minutes, 70% pass.
- Module 6 (financial planning practice) is coursework, not an MCQ exam. There are no mocks for it here.
- Figures follow the 2026/27 UK tax year unless a question says otherwise.
Choose a paper
Unlock every paper →FRE1 — Industry, Regulation & Key Parties
25 standalone questions + 3 case studies × 5 linked questions · papers run easier → harderUnit guide →FRE2 — Skills, Principles & Ethical Behaviours
25 standalone questions + 3 case studies × 5 linked questions · papers run easier → harderUnit guide →AFAT1 — Taxation Unit 1
20 standalone questions + 2 case studies × 5 linked questions · papers run easier → harderUnit guide →AFAT2 — Taxation Unit 2
20 standalone questions + 2 case studies × 5 linked questions · papers run easier → harderUnit guide →AFAI1 — Investment Unit 1
20 standalone questions + 2 case studies × 5 linked questions · papers run easier → harderUnit guide →AFAI2 — Investment Unit 2
20 standalone questions + 2 case studies × 5 linked questions · papers run easier → harderUnit guide →AFAP1 — Protection Foundations
20 standalone questions + 2 case studies × 5 linked questions · papers run easier → harderUnit guide →AFAP2 — Quantifying Need & Trusts
20 standalone questions + 2 case studies × 5 linked questions · papers run easier → harderUnit guide →AFAR1 — Accumulation Foundations
20 standalone questions + 2 case studies × 5 linked questions · papers run easier → harderUnit guide →AFAR2 — Decumulation Foundations
20 standalone questions + 2 case studies × 5 linked questions · papers run easier → harderUnit guide →How it works
Try it free
Sit FRE1 Paper 1 in full, free — no sign-up. Every other paper has a free 5-question preview.
Sit timed mocks
Real exam formats, timing and 70% pass marks. Papers ramp from Easier to Harder within each unit.
Learn from every answer
An explanation on every question, plus method hints on the calculations — not just a score.
Track your progress
See which units are exam-ready and which need another pass before you book.
£29.99 once. Cheaper than one resit.
One payment unlocks every DipFA MCQ paper on this site — no subscription, no renewal. Only sitting one module? A £9.99 option unlocks both exam units in that module. FRE1 Paper 1 is free in full.
Free revision tools
No purchase neededThe DipFA MCQ structure
FSRE is examined as FRE1 and FRE2. The four Applied Financial Advice modules are each two units of 30 marks in 45 minutes. Pass mark is 70% on every unit. Our papers copy the live format, timing and pass marks, and are pitched slightly harder than the real thing.
Looking for DipFA past papers? The awarding body does not publish live exam papers — that page explains what to use instead, and indexes all 34 mocks in one place.