Terms of Use

Cliro provides independent educational tools and study materials for professional finance qualifications, including learning content, practice questions, diagnostics, adaptive study recommendations, formula recall tools and mock examinations.

Cliro provides educational services only. It does not provide investment advice, financial advice, legal advice, tax advice or any other regulated professional advice. Nothing on Cliro should be treated as a recommendation to buy, sell or hold any investment.

Cliro is an independent study platform. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. Cliro is not affiliated with, endorsed by or sponsored by CFA Institute. All practice questions and formula cards are written independently by Cliro.

No part of Cliro should be described as official CFA Institute content unless it is a clearly identified third-party reference. Where we cite the official curriculum, we identify it as such.

Cliro is designed to support your preparation, but we do not guarantee that using Cliro will result in a particular examination score or that you will pass an examination.

You must provide accurate account information and keep your sign-in credentials secure. Tell us promptly if you believe someone else has access to your account.

Accounts are personal to you and may not be shared, transferred or used by more than one learner.

If you are not legally capable of entering into the purchase contract yourself, the purchase must be made or authorised by an appropriate parent or guardian.

Cliro and its content are owned by us or our licensors. We give you a personal, limited, non-exclusive and non-transferable right to use Cliro for your own study for as long as your access lasts.

You may not:

• copy or redistribute question banks
• resell Cliro content
• publish substantial parts of Cliro content
• carry out systematic extraction of content
• scrape Cliro or use automated harvesting tools
• build competing datasets or products from Cliro material
• share access to a paid account

Normal personal study activities are of course permitted, including making your own notes, working through questions on paper and quoting short extracts for your own revision.

You agree not to:

• use Cliro for any unlawful purpose
• attempt to attack, probe or compromise the security of the service
• attempt to bypass access controls, paywalls or entitlement checks
• misuse question reports or support channels, for example by submitting abusive or deliberately false content
• interfere with the availability or integrity of the service for other learners

Exam Pass. The Exam Pass is a one-time purchase with no automatic renewal. Access duration is determined by the supported examination window you select. Under the current product, access continues until 14 days after that selected examination window ends. If you validly move between supported 2027 examination windows, your access follows the product logic in the app and you do not need to buy the Exam Pass again. The Exam Pass includes the two full 180-question mock examinations that ship with paid access.

Monthly. The monthly plan is a recurring subscription. It renews at the displayed monthly price until you cancel. Cancelling stops future renewals. Paid access normally continues until the end of the current paid billing period. The monthly plan includes the same two full 180-question mock examinations.

Optional add-ons. From time to time we may offer optional extras that are purchased separately. Any such extra is described on the billing page at the point it is actually available to buy.

Current prices are those shown to you immediately before you complete your purchase. Displayed prices include any applicable tax, so the amount shown is the amount you pay.

We offer a 14-day money-back guarantee on an initial paid purchase, subject to the Refund and Cancellation Policy. This guarantee is in addition to, and does not affect, your statutory rights.

Full details are set out in our Refund and Cancellation Policy.

We maintain, improve, update and modify Cliro over time, including its content, features and study logic. We do not promise that the service will be uninterrupted or error free.

If we make a material change that negatively affects an existing paid entitlement, we will handle it fairly and consistently with consumer law.

Nothing in these Terms excludes or limits rights that cannot lawfully be excluded or limited, including your statutory consumer rights.

We are responsible for loss or damage you suffer that is a foreseeable result of us breaking these Terms or failing to use reasonable care and skill. We are not responsible for loss or damage that is not foreseeable.

We do not exclude or limit our liability where it would be unlawful to do so. This includes liability for fraud or fraudulent misrepresentation, and for death or personal injury caused by our negligence.

Cliro is intended for personal educational use. We are not liable for business losses, including loss of profit, loss of business or loss of business opportunity, where you are using Cliro as a consumer.

We may suspend or restrict access where it is necessary for security reasons, to prevent fraud, or where there is serious misuse or a material breach of these Terms. Where it is reasonable to do so, we will tell you first and explain what needs to change.

We will not use suspension or termination to remove consumer rights you have already paid for unfairly. If we end your access without good reason, you may be entitled to a refund for the part of your access you cannot use.

How we handle personal data is explained in our Privacy Notice. Information about browser storage is in our Cookies and Browser Storage notice.

We may update these Terms, for example to reflect changes to the product or to the law. Where a change is material, we will communicate it appropriately, such as by email or a notice in the app.

Continuing to use Cliro does not waive any statutory right you have. If a material change does not work for you, you can stop using Cliro and, where applicable, ask us about a refund for access you have paid for and cannot use.

These Terms are governed by the laws of England and Wales, and the courts of England and Wales have jurisdiction. If you are a consumer resident elsewhere, you keep the benefit of any mandatory rights and protections available to you under the consumer law of your country of residence.

Questions about these Terms can be sent to support@cliro.co, or through our support page.