Hi I have a PIFR with the lot,
I think the holding endorsement is one of the minimum requirements for the initial PIFR.
I would not recommend doing the intial rating without any approach FPA's, you dont want to get stuck up there !
Offically you do need to do two sittings for the test , speak to your flying school re how they normally structure this.
Sorry not sure about the theory I completed the IREX.
Having flown with a PIFR for a while now my 2 cents on the rating,
Although the PIFR serves me just fine if I had my time again I would probably do a CIR. Why ?
Well in the end I dont think the PIFR provides me with any benefit over a CIR . In training I cut 3 hours off the CIR miminimum as my instructor said I was ready, but nothing to get excited about there.
I have found the relaxed recency requirements mean little as I've learnt from real world flying you dont want to be flying in actual IMC if your not in practice.
Jaba mentions minima , he's right many do not experince real approaches down to mimima however even an approach down where the base is a few hundred feet above mimimums can make you anxious especially when rains hammering the windshield and streaming off the wings. Then when you break out, vis is lousy and then the runway looks like its half underwater.
Might be a normal day in the office for an RFDS or charter pilot but for the average private pilot you have no business being there if your last instrument approach was conducted 12 months ago.
Over summer I went almost 4 months without flying IFR. Longest break I've had since gaining my rating. Planning a trip away shortly so wanted to be sure I could do it IFR. Legally could just go with a PIFR , however I personally was not comfortable with this so ended up doing some sim work and a decent IFR check with my instructor in the plane.
All went well and I'm happy to go now but point being may as well have a CIR as if your a responsible pilot, self preservation will ensure you meet or exceed the CIR recency requirements anyway.
cheers