Generic Knowledge (GK) is the FOUNDATION COURSE required by any individual wanting to provide general or personal advice to a retail client. GK covers the following topics:
| The economic environment | • characteristics and impact of economic and business cycles • interest rates, exchange rates • inflation • government monetary and fiscal policies |
| Operation of financial markets | • roles played by intermediaries and issuers • structure and inter-relationships within the financial markets • inter-relationship between industry sectors |
| Financial products | • concept of a financial product—general definition, specific inclusions, exclusions • types of financial investment products • types of financial risk products (e.g. derivatives, risk insurance products) |
Generic Knowledge content is covered in the first module of IIT’s course Financial Planning in Practice.
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