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Investment Management Techniques (IMT)®


Grow Your Investment Management Knowledge

What will you learn through this course?

Prepare for registration as a portfolio manager. The IMT is designed to provide a deeper understanding of applied skills such as investment policy statement development, asset allocation selection, portfolio performance assessments and investment selection.

Learn About:

  • The Investment Management Process
  • Understanding a Client's Risk Tolerance
  • Asset Allocation and Investment Strategy
  • Equity Securities and the Different Types of Analysis: Economic, Industry, Company, and Technical Analysis
  • Debt Securities and Valuation, Term Structure, Price Volatility and Investment Strategies
  • Analysis of Conventional Managed Products and Alternative Investments, and Guaranteed Minimum Withdrawal Benefit Products
  • International Investing
  • Managing Client's Investment Risk and Risk Reduction Strategies
  • The Impediments to Wealth Accumulation
  • Portfolio Monitoring and Performance Evaluation
  • International Taxation

How will you learn?

CSI's online learning system helps you meet your study goals. You'll benefit from:

  • Learning objectives that keep you focused
  • Interactive tools to help you evaluate and apply course material
  • Online post-chapter review questions to assess your progress
  • Course updates to ensure you’re learning the most current and up-to-date practical material in your studies
  • Online discussion forums and assistance from CSI's academic support specialists
  • Robust set of integrated case studies to help you prepare for Exam 2

What's New

The 2020 IMT course update continues with the multi-year plan to update the IMT course material.

For 2020, we have:

  • Continued to update course references
  • Incorporated a non-examinable online job aid into the textbook
  • Added new online flipcard learning activities
  • Added one new online case scenario

What you'll learn

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Topics covered in this chapter are:

  • The Seven Steps of the Investment Management Process

  • Information Required by Regulation and Law

  • How Investment Advisors can Learn About Their Clients

  • How Investment Advisors can Determine Investment Objectives and Constraints

  • How an Investment Advisor can Craft an Investment Policy Statement

  • Communication Skills an Investment Advisor Needs

Topics covered in this chapter are:

  • What Is Behavioural Finance?

  • The Relevance of Behavioural Finance to the Investment Advisor

  • Risk Tolerance Questionnaires and Their Limitation

  • What Are Investor Biases?

  • What Are Investor Personality Types?

  • How An Investment Advisor can Apply Bias Diagnoses When structuring an Asset Allocation program

Topics covered in this chapter are:

  • The Definition of An Asset Class

  • The Asset Allocation process and its Benefits

  • The Three Asset Allocation Strategies

  • Asset Location

  • Equity Investment Strategies

Topics covered in this chapter are:

  • Factors to Consider When Deciding Between Individual Equity Securities and Managed Products

  • The Characteristics and Features of Equity Securities

  • Canadian and U.S. Equity Markets

Topics covered in this chapter are:

  • Economic Analysis

  • How Economic Analysis Drives the Development of Investment Strategies

  • Economic Forecasts

  • Key Economic Metrics

  • Industry Analysis

Topics covered in this chapter are:

  • The Difference Between IFRS and GAAP?

  • Company Analysis

  • Models for Valuing Stocks

  • How to Analyze Resource Companies

  • The Limits of Accounting Data

Topics covered in this chapter are:

  • What Are the Basics of Technical Analysis?

  • What Is Chart Analysis?

  • What Is Statistical Analysis?

  • What Are Sentiment Indicators?

  • What Is Intermarket Analysis?

  • How Can Technical Analysis Be Used?

  • How Can Technical Analysis and Fundamental Analysis Be Used Together?

Topics covered in this chapter are:

  • Reasons for Investing In Debt Securities?

  • Characteristics of Debt Securities

  • Risk Factors of Debt Securities

  • Mechanics of Debt Market Trading

Topics covered in this chapter are:

  • How to Value Debt Securities

  • The Term Structure of Interest Rates

  • Determining the Prices of Debt Securities

Topics covered in this chapter are:

  • The Key Concepts of Bond Price Volatility

Topics covered in this chapter are:

  • Conventionally Managed Products

  • The Role of Conventionally Managed Products in Investment Management

  • Mutual Funds

  • Closed-End Funds

  • Wrap Products

  • Overlay Management

  • Fees and Turnover

  • The Relationship Between Taxes and Returns on Conventionally Managed Products

Topics covered in this chapter are:

  • What are Alternative Investments and why Invest in Them?

  • Overview of Hedge Funds

  • Overview of Commodities

  • Overview of Real Estate

  • Overview of Private Equity

  • Overview of Collectibles

  • Ways to Invest in Alternative Investments

  • How Commodity Producers Manage Financial Risk

  • Ways to Invest in Real Estate

  • Ways to Invest in Private Equity

Topics covered in this chapter are:

  • Segregated Funds

  • Guaranteed Minimum Withdrawal Benefit (GMWB) Products

Topics covered in this chapter are:

  • The Theoretical Basis for International Investing

  • The Size of the Global Equity Market

  • The Major International Equity Benchmarks

  • The Primary Advantages of International Investing

  • The Primary Disadvantages and Risks of International Investing

  • Foreign Investment Vehicles

  • The Skills Necessary for Effective International Investing

  • Do Asset Allocation Models Correctly Assess International Investment Opportunities?

Topics covered in this chapter are:

  • International Tax Conflicts and Double Taxation

  • Sources of International Tax Law and How They Interrelate

  • Jurisdiction to Tax

  • Source Country Taxation

  • Residence Country Taxation

Topics covered in this chapter are:

  • What Are Investment Risks?

  • Measuring Investment Risk

  • How Diversification can Reduce Investment Risk

  • How to use Options to Reduce Investment Risk

  • How to use Futures Contracts to Reduce Investment Risk

  • How to use Contracts for Difference to Reduce Investment Risk

  • How to use Principal-Protected Notes to Reduce Investment Risk

Topics covered in this chapter are:

  • The Burdens of Wealth Accumulation

  • Tax-Minimization Portfolio Management Strategies

  • Tax-Efficient Investments

  • Inflation-Sensitive Assets

  • Cost-Efficient Investments

Topics covered in this chapter are:

  • Portfolio Monitoring

  • Portfolio Performance Evaluation

What are the approximate hours of study?

Approximate Hours of Study**
Hours of Study 80 - 100 hours

** In order to provide some guidance to course participants as to the length of time it will take to be sufficiently prepared to write the final examination, CSI has prepared this estimate of the number of hours an average participant could possibly expect to spend studying for a course. Please note that these are only recommended hours of study developed based on research and our course content, however, this does not mean that some students with exceptional backgrounds would not take less time than recommended or that students with no background at all in finance or economics would not take longer than the maximum.

(weightings are approximate)
Exam 1
Investment Management Process 5%
Understanding a Client's Risk Tolerance 5%
Asset Allocation and Investment Strategy 8%
Equity Securities 19%
Debt Securities 17%
Managed Products 19%
International Investing and Taxation 7%
Managing Your Client's Investment Risk 5%
Impediments to Wealth Accumulation 8%
Portfolio Monitoring, Re-balancing, & Performance Appraisal 7%
Exam 2
Investment Management Process 8%
Understanding a Client's Risk Tolerance 8%
Asset Allocation and Investment Strategy 14%
Equity Securities 14%
Debt Securities 18%
Managed Products 14%
International Investing and Taxation 4%
Managing Your Client's Investment Risk 8%
Impediments to Wealth Accumulation 4%
Portfolio Monitoring, Re-balancing, & Performance Appraisal 8%
Exams 2
Exam Format Exam 1: Proctored (remote or in person at a test centre)
Exam 2: Proctored (remote or in person at a test centre)
Exam Duration Exam 1: 3 hours
Exam 2: 3 hours
Question Format Exam 1: Multiple Choice questions
Exam 2: Multiple cases with Multiple Choice questions
Questions Per Exam Exam 1: 110 Questions
Exam 2: 50 Questions
Attempts Allowed Per Exam 3*
Passing Grade 60% (Per Exam)
Assignments None
Enrolment Period 1 year

On successful completion of this course you will be able to download a Notice of Course Completion available through your student profile. This will remain on your profile as formal confirmation of course completion.

CSI will mail you a wall certificate within 4 - 6 weeks of course completion. Frames to display your certificate are available. Please ensure that your First and Last Name on your profile match your First and Last Name on your Government Issued Photo identification - this will ensure you receive an accurate certificate.

CSI will be pleased to issue an Honors Certificate to all student who obtain a final course mark of 85% or higher.

* The first attempt is included in the course enrolment fee. Further attempts incur fees.

†Please note: Access to your online materials will close 2 weeks after successful course completion or course expiry (whichever comes first). This course can be extended by 1 year provided you have not exceeded the attempts allowed  for each exam. You can view CSI extension fees here . Your enrolment period can only be extended one time.

Continuing Education (CE) Credits

Click the links below or the buttons at the top of the page on the right side to access CE accreditation information. To search for specific course information, press Ctrl + F and then enter the course name to search the document for the information you are interested in.

National/Provincial (Excluding Quebec)
Download CE Chart (PDF, 163 kb)

Quebec (IQPF/CSF)
Download IQPF/CSF Chart (PDF, 182 kb)

Please note: While CSI makes every effort to ensure that the information is up-to-date, we are unfortunately unable to fully guarantee its accuracy. The information listed in the charts above may be subject to change.

For details on the organizations and other information on CE Credits listed in the above charts, please click here.