Student Information Guide

Transcription

1 Student Information Guide Registered Training Organisation No ASIC Authorised Assessor, listed on the ASIC Training Register ABN Phone: (02) Fax: (02) Issued 1 January 2008

2 Contents 1. Introduction 1 2. Personal vs General Financial Product Advice 1 3. Flexible, Self-Paced Learning 2 4. Prerequisites 3 5. Modules 3 6. Delivery and Assessment 6 7. How to Achieve RG146 Competency 8 8. Credit Transfer 9 9. Fees & Charges Policies 11 Appendix A Units of Competency 16 Appendix B Consent Form for Disclosure of Student Information 17 Appendix C FSTA: Exam Re-Sit Form 18 Appendix D FSTA: Credit Transfer Form 20 Appendix Ei Manual ment Form for Suncorp Group Employees, Guardianfp & Cameron Walshe only 22 Appendix Eii Manual ment Form for External Students 26 Disclaimer A copy of the Student Information Guide is available on the Welcome Screen (ie. login screen) of the FSTA online training system, accessed via This Student Information Guide is effective from 1 January This supercedes all previous Student Information Guides.

3 1. Introduction Thank you for enquiring about training with Financial Services Training & Assessment Pty Ltd (FSTA). FSTA is a Registered Training Organisation (RTO) no and is a separate subsidiary company of the Suncorp Group. FSTA is also an ASIC authorised assessor. We offer training and assessment services that achieve the outcomes defined in the Financial Services Training Package, the Australian Qualifications Framework (AQF) and ASIC Regulatory Guide 146 (RG 146), known prior to November 2007 as ASIC Policy Statement 146 (PS 146). FSTA offers two programs of study to its students: 1. The Diploma of Financial Services (Financial Planning) that will result in the post-nominal designation of Dip FS (FP); and 2. Three short industry courses named PS146 Training Courses that may be: a) studied individually to attain PS146 competency to provide either general or personal advice in a particular ASIC product area(s) only, or b) studied in succession as part of the overall study toward the Diploma of Financial Services (Financial Planning). FSTA also offers other training modules designed specifically for the needs of representatives and authorised representatives of the Suncorp Group, including Guardian Financial Planning, Asteron and Asteron s Life Risk Business Unit (via Suncorp Knowledge Modules ). 2. Personal vs General Financial Product Advice Under the Corporations Act 2001, an individual is providing financial product advice when making a recommendation or a statement of opinion, or report that: a) is intended to influence a person or persons into making a decision in relation to a financial product (or class or interest of financial product); or b) could reasonably be regarded as being intended to have such an influence (emphasis added). All individuals who provide financial product advice to retail clients must satisfy the generic and specialist knowledge and skill requirements of ASIC s Regulatory Guide 146 (Training of Financial Product Advisers) in the area(s) in which they provide that advice. As per the definition, the advice need not be given directly to a retail client but to any person who will eventually pass it on to a retail client. Therefore, a person may include: clients, investors or potential investors in financial products; and intermediaries, financial advisers, agents, brokers, business development managers, claims assessors, insurance adjusters, employer sponsors, trustees, research houses, asset consultants, media, custodians or any other persons. There are two types of financial product advice: 1. Personal Advice advice given where the provider has considered the objectives, financial situation and needs of a person, or where a reasonable person might be expected to have considered these matters. Personal advice can be directed at a group of people where the group has extremely similar objectives, financial situations and needs. Page 1

4 2. General Advice advice given that is not considered personal advice. Such advice deals with financial products in general but is not targeted at the specific needs of an individual. Examples include newsletters, product fliers, circulars, and presentations about financial products. General advice can be provided to a specific person or a group of people. PS146/RG146 makes a distinction between the educational requirements of those who provide general and personal advice, namely: for those who provide general advice, they need only meet the knowledge requirements of the area(s) in which they give advice; and for those who provide personal advice, they must satisfy both the knowledge and skills requirements of the area(s) in which they provide that advice. 3. Flexible, Self-Paced Learning FSTA s courses are totally self-paced, with no semesters or set exam dates. As such, FSTA offers its students flexible learning and assessment procedures to suit their requirements. We consider our approach to be user friendly and adaptable to your needs. Issues such as duration of courses and assessments, methods of assessment used, evidence provided, etc, have been designed to allow for learner choice. You may study as many or as few courses (and their component modules) as you wish - you determine the pace. Exams are online and can be attempted at any time. The Skills Assessments may be submitted as you complete them for FSTA to validate. FSTA strives to offer training and assessment that is accessible and equitable to all individuals. If you have any issues that require special consideration, for example poor vision, language barriers, literacy and numeracy difficulties, or any disabilities, please let us know. We will endeavour to attend to them such that their effect on your studies is minimised. FSTA is available on an ongoing basis to answer questions with regard to your training and assessment. Our objective is to provide a service that is flexible without compromise to our high quality. Duration of ment Students can enrol in FSTA s courses at any time. The courses are completely self-paced, so students can complete their exams at any time and submit their skills assessments for review and validation/verification by FSTA as they are completed. In order to ensure that students are studying up-to-date content and due to the continual review of FSTA s courses, exams and skills assessments, all courses and the Diploma have a duration of 1 year from the date of enrolment. Single module enrolments have a duration of 6 months. If a module(s) either within a course or as single enrolments are not completed by the end of the set duration, the student will need to re-enrol in the module(s) that they have not yet completed and pay a new enrolment fee for these modules. Page 2

5 4. Prerequisites As per the Financial Services Training Package, upon the commencement of any Diploma level study (referred to as a Tier 1 level in RG146), a student must be competent in a range of basic workplace skills that are called Industry Core units. These are covered in the Certificate III in Financial Services. They are: Industry Core Units FNSICGEN301A Communication in the Workplace FNSICGEN302A Use Technology in the Workplace FNSICGEN304A Apply Health and Safety Practices in the Workplace FNSICGEN401A Apply principles of professional practice to work in the financial services industry FSTA will verify that you have these skills through recognition of prior learning (RPL). It is assumed that any student who has completed secondary education and/or worked in the financial services industry has these skills. If this is not the case, we can accommodate you by providing the appropriate training. 5. Modules Each of FSTA s courses is made up of a set of component modules. The modules are divided into two streams: 1. a Knowledge stream, containing the Knowledge modules, and 2. a Skills stream, containing the Skills modules and Skills assessments. 1. Knowledge Stream The knowledge stream consists of two compulsory foundation knowledge modules that should be studied in numerical order. These modules form part of each FSTA course. RG146 and Dip FS (FP) Foundation Knowledge Modules Module 101 Module 102 Introduction to Financial Services and Planning 25 hours of study time. Assessment consists of an open book, multiple choice exam. The module content covers: generic and specialist knowledge about the advisory functions of the Financial Planner/Adviser; and generic and specialist knowledge about the legal environment, compliance and disclosure for Financial Planners and Advisers. Introduction to Financial products 40 hours of study time. Assessment consists of an open book, multiple choice exam. The module content covers: generic knowledge about the financial market products and investments; generic knowledge about financial products; introduction to taxation; introduction to estate planning. Next, the student is to undertake up to four specialist knowledge modules depending on which course they have chosen. These may be studied in any order. Page 3

6 RG146 and Dip FS (FP) Specialist Knowledge Modules Module 103 Module 104 Module 105 Module 106 Managed Investments and Shares 40 hours of study time. Assessment consists of an open book multiple choice exam. The module content covers: investment basics shares and the share market derivatives and fixed interest managed investments (funds). Superannuation, Social Security and Income Stream Products 50 hours of study time. Assessment consists of 3 open book, multiple choice exams. The module content covers: specialist knowledge about the area of Superannuation, including the operation and management of the superannuation industry and the legal environment; and specialist knowledge about the taxation of superannuation. Life Insurance Products and Applications 40 hours of study time. Assessment consists of 2 open book, multiple choice exams. The module content covers: core and specialist knowledge about insurance products; core and specialist knowledge about the operation of insurance markets and the legal environment; and specialist knowledge about the area of Life Insurance. The Australian Taxation System and Financial Strategies 30 hours of study time. Assessment consists of an open book, multiple choice exam. The module content covers specialist knowledge about the area of Taxation including: the Australian taxation system and social security systems; relevant taxation laws and regulations; the effects of taxation on particular financial products; and the effects of taxation on the financial strategies of individuals and entities. Other Specialist Modules Module 201 Module 202 Self Managed Superannuation Funds 40 hours of study time. Assessment consists of an open book multiple choice exam. The module content covers: the rules governing self managed superannuation funds administration and compliance responsibilities of trustees. Equity Release 40 hours of study time. Assessment consists of an open book multiple choice exam. The module content covers: the different types of equity release products with a focus on reverse mortgages taxation and social security implications of equity release. Suncorp Knowledge Modules (for use by representatives and authorised representatives of the Suncorp Group only, including Guardian Financial Planning, Cameron Walshe, Asteron and Asteron s Life Risk Business Unit) Module 301 Module 303 Insurance through Superannuation 15 hours of study time. Assessment consists of an open book, multiple choice exam. The module content covers: specialist knowledge on the provision of risk insurance through superannuation; and specialist knowledge appropriate as an introduction to, or refresher course in Superannuation. NB 301 does not provide the knowledge required for PS146 competency in superannuation and has no additional skills requirements. Gearing for Investment 40 hours of study time. Assessment consists of an open book multiple choice exam. The module content covers: benefits and suitability of gearing taxation margin lending Guardian Financial Planning business rules. NB. Suncorp Knowledge Modules are not required for attainment of the Diploma or RG146 competency as per ASIC regulations. These modules are only for the special inhouse needs of the Suncorp Group and Asteron. Page 4

7 2. Skills Stream Once the required knowledge modules are completed for your relevant course, you should then undertake the skills stream for Personal Advice requirements in RG146 and the Dip FS (FP). This is because skills involve an application of knowledge in their demonstration and should therefore be completed after knowledge. FSTA s skills are delivered in the form of a Specialist Skills Assessment (SSA). There are 3 SSAs offered and these are explained below. A Skills Assessment is required to be completed to gain the competencies to provide personal advice in a particular ASIC product area/s. RG146 stipulates that skills are required for the provision of personal advice. To obtain the skills necessary to attain the Diploma of Financial Services (Financial Planning), all three of FSTA s Skills Assessments must be completed (403, 404, 405) or combined skills module 400 along with all the knowledge modules. A Statement of Attainment is issued by FSTA when you complete a Skills Assessment. This will detail the nationally recognised units of competency achieved from the Financial Services Training Package due to the combination of knowledge and skills requirements. A Skills Assessment - Preparatory Module will be provided when you enrol in a Skills Module. This generic module includes all of the training material and soft copy documents required for you to undertake any of the three SSAs. This allows students flexibility in how they study either undertaking the SSAs one at a time, combining two or even combining all three in the one overall activity. Each Skills Assessment uses a generic case study which documents the client s background, personal details, financial situation and other relevant details. However, as each Skills Assessment covers different financial product requirements for the client, these financial product requirements are unique to each Skills Assessment. The Skills Assessment provides opportunities for the student to apply previously learnt knowledge to a range of practical applications via role plays and practical tasks, thus providing, on successful completion, appropriate evidence of competency in financial planning/advising skills. Upon successful completion of a Skills Assessment, the student will be able to: 1. Establish a relationship with the client, 2. Identify the client s objectives, needs and financial situation, 3. Analyse the client s objectives, needs, financial situation and risk profile, 4. Develop appropriate strategies and solutions (ie. the SOA) for the client, 5. Present appropriate strategies and solutions (ie. the SOA) to the client, 6. Negotiate the SOA with the client, 7. Co-ordinate implementation of the agreed SOA for the client, 8. Complete and maintain necessary documentation, and 9. Provide ongoing service where requested by the client. The above 9 skills requirements are derived from the ASIC units of competency from RG146 and form part of the Financial Services Training Package. These 9 skills are uniform across all of the ASIC competency units. This is because the financial advisory skills being assessed for RG146 competency are all the same, only the ASIC financial product area (for example, managed investments or superannuation) changes. Page 5

8 The outcome of a Skills Assessment (ie. whether the student is competent/not yet competent) must be validated/verified by FSTA before it is final and official. Skills Modules Skills Assessment for Managed Investment and Shares (Module 403) Skills Assessment for Superannuation (Module 404) Skills Assessment for Life Insurance (Module 405) Combined Skills Assessments 403, 404, 405 (Module 400) Skills Assessment Preparatory module + soft copy file 40 hours of study and preparation time. Assessment consists of a set of role plays and practical tasks that simulate the relationship between the client (played by an assessor/supervisor) and the financial planner/ adviser (played by the student). Allow approximately 2 hours to undertake this Skills Assessment when all practical tasks are completed (these need to be completed prior to the actual day of the assessment). Everything required to undertake the assessment is included in the Skills Assessment materials. 40 hours of study and preparation time. Assessment consists of a set of role plays and practical tasks that simulate the relationship between the client (played by an assessor/supervisor) and the financial planner/ adviser (played by the student). Allow approximately 2 hours to undertake this Skills Assessment when all practical tasks are completed (these need to be completed prior to the actual day of the assessment). Everything required to undertake the assessment is included in the Skills Assessment materials. 40 hours of study and preparation time. Assessment consists of a set of role plays and practical tasks that simulate the relationship between the client (played by an assessor/supervisor) and the financial planner/ adviser (played by the student). Allow approximately 2 hours to undertake this Skills Assessment when all practical tasks are completed (these need to be completed prior to the actual day of the assessment). Everything required to undertake the assessment is included in the Skills Assessment materials. This is a single skills assessments for those who wish to combine all three skills assessments (ie. 403 Managed Investments and Shares, 404 Superannuation and 405 Life Insurance). This is generic module that will be provided to you when you enrol in a Skills Assessment. It includes all of the training materials and soft copy documents required for you to undertake any of the three Skills Assessments. This allows students flexibility in how they study either undertaking the Skills Assessments one at a time, combining two or even combining all three in the one overall activity. 6. Delivery and Assessment All the training modules for FSTA s courses are delivered via the internet (ie distance education). The training modules are split into two types Knowledge Modules and Skills Modules. Information including module content, knowledge and skills outcomes, and methods of assessment, is detailed in each training module s preamble namely, open book multiple choice exams for the Knowledge modules, and workplace observations and/or demonstrations, role-plays and practical assignments for the Skills modules. The training modules are written by experts in the industry and are regularly reviewed and updated. Importantly, the modules are aimed at enabling students to draw on current and past industry experience and knowledge in financial planning, advising and other related areas. The training modules are available to students via FSTA s online training system (OTS). This OTS is a web-based method for the enrolment, delivery, assessment and certification of FSTA s courses and is accessed via As such, students will require the following: Pentium class PC with at least 32Mb and a printer, Internet connection (preferably broadband access) and an address. Some students experience interruptions when using wireless technology. To reduce interruptions to your service, hardwire connection is recommended. Microsoft Word and Microsoft Excel, and Acrobat Reader. Page 6

9 Examinations All Knowledge module exams are conducted via the OTS. Hence, they can be completed at any time and at any place (ie, on demand 24 hours a day, 7 days a week). Exams are split into sections (where reasonable and where relevant) that correspond with units in the Knowledge module. Students may sit the exam section by section or complete it all in the one go its up to them. Each exam has a time limit based on the number of questions in it. The order of the questions is randomised, so that no two students ever sit the same exam. Some modules have multiple exams. Students may sit all exams in one go or not. The student must accept a declaration that they have undertaken the exam without any assistance before they are allowed to sit the exam. If the student has sought or is deemed to have sought assistance, they will be failed and banned from the course with no refund of monies paid. Students must achieve at least 75% in each exam to be recognised as competent in the module. The module fee includes the cost of two attempts per exam. Students will be notified of their result of the exam immediately on completion but will not be told the answers to the questions they answered incorrectly. A resit exam is available for students who do not attain competency in the first instance. These have been designed in such a way that the student need only redo that exam in which they achieved less that 75%. A re-sit fee of $35 will be charged per exam. An Exam Re-sit form must be completed by the student and faxed to FSTA, along with payment, before they can undertake a re-sit. This Exam Re-sit form is attached as Appendix C. When FSTA processes the form, they will notify you that your exam re-sit has been set up. NB If the student requires any further re-sits of an exam, then a new Exam Re-sit form (including further payment of $35 per exam) must be submitted to FSTA. Skills Assessments The Skills Assessments are conducted offline with the assistance of an assessor/supervisor. When the student has completed their Skills Assessment, they must mail their documentation to FSTA and also notify FSTA, via the OTS, that the Skills Assessment is completed and requires validation/verification by FSTA. FSTA will notify the student of the official outcome of the Skills Assessment via the OTS (an will also be sent to the student). Any comments will also be provided. Please allow FSTA up to 4 weeks to review your Skills Assessment documentation and notify you of the official outcome. Certification All certification (ie. Statements of Achievement/Attainment and the Diploma) will be awarded to the student once all the course requirements are satisfactorily completed. The student s academic record of training is available on the OTS. Page 7

10 7. How to Achieve RG146 Competency An individual s study requirements depend on the type and area(s) of advice that they provide. Study requirements have been split in to: 1. General Advice, and 2. Personal Advice. FSTA offers three short industry courses named RG146 Training Courses. These may be studied individually, to attain RG146 competency in a particular ASIC product area(s). Also, these may be studied in succession to gain additional RG146 competency and training as part of the overall study towards the Diploma of Financial Services (Financial Planning). Alternatively, students may immediately enrol in the full Diploma course. FSTA s online training system (OTS) allows for the online enrolment and payment for all of FSTA s courses via the estore function. The modules will then be made available online and can be printed by the student. The following enrolment options are available to our students: A. Diploma of Financial Services (Financial Planning) for students with no previous studies; B. RG146 Training Courses (General Advice and Personal Advice) for students with no previous studies; C. Credit Transfer for students who have completed non-fsta studies. For those seeking credit transfers, the Credit Transfer form (see Appendix D) must be completed and submitted to FSTA for validation of the credits claimed; A fee of $50 per module is levied for credit transfer applications. D. RG146 Training Courses for Suncorp Group employees, Guardianfp and Cameron Walshe. 1. General Advice As per RG146, to provide general advice, students need only satisfy the knowledge requirements of the area(s) in which they provide advice. A Statement of Achievement is awarded upon the successful completion of general advice study. Which of our RG146 Training Courses will help you attain the RG146 competency you require? RG146 Competency (General Advice) RG146 Training Course # Modules Required 1. Managed Investments and Shares 101, 102, Life Insurance 101, 102, Superannuation 101, 102, 104 Asteron s Life Risk Business Unit: RG146 and RG164 Training Life Insurance RG146 Competency to Provide General Advice 101, 102, 105, 301 Page 8

11 2. Personal Advice As per RG146, once an individual needs to provide personal advice, both the knowledge and skills requirements must be satisfied for the area(s) in which they provide advice. A student with FSTA can escalate their general advice capability to that of personal advice at any time. A Statement of Attainment is awarded for the successful completion of personal advice study. A Statement of Attainment is RTO terminology for the successful completion of competency based training that involves both knowledge and skills elements. Which of our RG146 Training Courses will help you attain the RG146 competency you require? RG146 Competency (Personal Advice) Knowledge Modules Skills Modules RG146 Training Course (TC) # Modules Required 1. Managed Investments and Securities 101, 102, Life Insurance and Insurance Broking 101, 102, Superannuation 101, 102, Diploma of Financial Services (Financial Planning)* 101, 102, 103, 104, 105, or 403 and 404, and 405 * The award of a Diploma of Financial Services (Financial Planning) results in the attainment of personal advice RG146 competency in Generic Knowledge, Financial Planning, Managed Investments, Securities, Life Insurance, and Superannuation. 8. Credit Transfer FSTA recognises the AQF qualifications and Statements of Attainment/Achievement issued by any other RTO listed on the ASIC Training Register and adheres strictly to the standards for Credit Transfer and Mutual Recognition that all RTOs must follow. Credit Transfer means the recognition of competencies currently held. Under the Australian Quality Training Framework (AQTF), competencies may be attained in a number of ways, including any combination of formal or informal training and education (such as via DFP studies and/or their equivalents), work experience or general life experience. Skills based training can only be approved, delivered and assessed by an RTO, and only an RTO can issue a qualification and/or recognition of the successful achievement of units of competency. In order to grant credit transfers, FSTA must be provided with evidence sufficient to establish that the candidate is currently competent against the endorsed industry units of competency. Page 9

12 The evidence may take a variety of forms, including certification, copies of qualifications or Statements of Attainment/Achievement, references from past employers and/or workplace supervisors, client testimonials, statutory declarations detailing the amount of work experience an individual has and what that experience covers, and work samples. FSTA will ensure that all evidence is authentic, current and sufficient. All efforts will be made to ensure FSTA students receive the full benefit of credit transfers and mutual recognition. This will be assessed prior to your enrolment. Any application for credit transfers and mutual recognition will be proof verified and, if successful, the relevant exemptions will be recorded on the student s file. FSTA can offer you full credit transfers for some or all of the modules in its knowledge stream for any DFPs and/or their equivalents studied after January 1995 and listed on the ASIC Training Register. Any similar study undertaken that is pre-january 1995 will be reviewed on a case by case basis. When enroling in courses and claiming credit transfers, please complete the Credit Transfer form attached as Appendix D and submit the form, along with your payment, to FSTA for their review and validation (proof of credit transfers claimed must be submitted). A fee of $50 per exemption is levied by FSTA. We strongly suggest that students submit their Credit Transfer form prior to finalising their online enrolment, in case the request for credit transfer is rejected (as it is difficult to reverse enrolments on the OTS). When you submit your Credit Transfer form, you should notify FSTA, via the OTS, that you have done so. FSTA will then notify you of the outcome via the OTS (and also by ). 9. Fees & Charges Students can access FSTA s online training system (OTS) at to enrol in our courses via the estore function. All fees must be paid in full at the time of enrolment. Course materials will then be made available to the student via the OTS and can be printed. Fees can be paid by credit card (VISA, Mastercard or Bankcard). FSTA will provide you an official receipt for taxation purposes via the OTS (which can be printed). For employees/representatives of Asteron, FSTA s courses qualify for study assistance under the Asteron Study Support Policy. However, the training must be relevant to your job activities and have your manager s prior approval. Please note that RTO training fees are GST exempt. Prices for FSTA s courses are split into two types: 1. Member Price discounted prices for employees of the Suncorp Group, Asteron and authorised representatives of Guardian Financial Planning (GFP) and Cameron Walshe. The OTS will perform a verification of a member s status when they enrol by asking for a unique employee number. NB Representatives of GFP and Cameron Walshe must use their representative number as their username and password on the system so that they can be recognised as GFP and Cameron Walshe advisers. In addition, the address to be used will be the one notified to GFP and Cameron Walshe management by the adviser; and 2. Standard Price all students other than members. Page 10

13 General Advice (GA) Personal Advice (PA) RG146 Training Course# Modules* required for course Member Total Course Price Standard Total Course Price Additional modules** required Member Total Course Price Standard Total Course Price 1. Managed Investments and Securities 101, 102, 103 $525 $ $770 $1, Life Insurance 101, 102, 105 $525 $ $770 $1, Superannuation 101, 102, 104 $525 $ $770 $1,100 Diploma of Financial Services (Financial Planning) 101, 102, 103, 104, 105, 106 $1,050 $1, or 403 and 404 and 405 $1,785 $2,500 Asteron s Life Risk Business Unit only: General Advice (GA) Personal Advice (PA) Training Course Modules* required for course Member Total Course Price Standard Total Course Price Additional modules** required Member Total Course Price Standard Total Course Price RG146 Course Life Insurance 101, 102, 105, 301 $700 n/a n/a n/a n/a * General Advice (ie. Knowledge) modules are $175 each for Members and $250 each for Standard Price. ** Personal Advice (ie. Skills) modules are $245 each for Members and $350 each for Standard Price. NB For employees of Suncorp only, payment can be accepted via a cost centre charge. If this method of payment is being used, the manual enrolment form in Appendix E must be completed and faxed to FSTA. FSTA will then enrol you in the relevant course on the online training system. 10. Policies ment and Refunds Students must pay for their intended study before they receive any course materials via the online training system (OTS). Once course materials are received by the student, no refunds will be given. If incorrect or untrue information is provided by a student upon enrolment, then FSTA may/ will suspend any access to the OTS until this is corrected (eg, falsely enrolling as a Member in which case the correct course fees must be paid to regain access to the system). Complaints, Appeals and Privacy FSTA has a Complaints and Appeals Policy for its students. It also has a Privacy Policy, an Occupational Health and Safety Policy, and an Equal Employment Opportunity and Anti Discrimination Policy. These can be supplied to you prior to your enrolment or upon your request. Page 11

14 Disciplinary Procedures FSTA will not tolerate any form of cheating, manipulation of evidence, or conduct which is misleading and deceptive, unethical, which represents a conflict of interest, or which is not true and fair. Any students found to be engaging in such conduct will have their studies cancelled with no refund of any fees paid. If a student is found to have acquired a Diploma or Statements of Attainment/Achievement by any means of improper conduct, FSTA reserves the right to revoke any such award granted. Please see FSTA s Complaints and Appeals Policy for a student s rights to appeal. Feedback FSTA encourages constructive feedback from its students. We will endeavour to use this feedback to improve the services provided to you, particularly with regard to our learning and assessment tools and strategies. Legal Issues and Disclaimer All materials issued and assessments undertaken by Financial Services Training and Assessments Pty Ltd (FSTA) are done on the understanding that: FSTA owns the intellectual property rights to all of its training materials and FSTA has full copyright (all rights reserved) on these items. No part of our training services, including training materials, exams and the Student Information Guide may be transmitted in any form or by any means, or copied or reproduced in any form or by any means (whether graphic, electronic or mechanical, including photocopying, printing, recording, taping or storing in an information retrieval system) without the prior written permission of FSTA. All student records are the property of FSTA only. The requirements of the Privacy Act will be strictly adhered to. Licensees for whom students are authorised representatives to provide financial services may gain access to any student s file but only with the full prior permission from the relevant student. Such permission can only be granted via FSTA s Student Consent Form for Disclosure of Student Information. This form is attached as Appendix B. FSTA is not responsible for the results of any action taken by the student and/or their licensee for whom the student is an authorised representative to provide financial services, on the basis of any information in the training materials, nor for any errors and/or omissions. FSTA expressly disclaims all and any liability to any persons or corporations in respect of anything and any consequences of anything done or omitted to be done by the student (or any person either undertaking or being involved with facilitating the training materials on behalf of the student or FSTA, and/or the student s licensee for whom the student is an authorised representative to provide financial services) in reliance, whether whole or partial, upon the whole or any part of the content of the training materials/training services and any attestations made in Statements of Achievement/Attainment or formal qualifications awarded by FSTA (including those attesting to the ability of the student to provide general or personal advice as per the rules of ASIC Regulatory Guide 146). It is the licensee s responsibility (for whom the student is an authorised representative to provide financial services) to ensure that the student acts within the boundaries of their authorisations and the legal requirements of the Corporations Act and the Financial Services Reform Act for all actions undertaken, including the provision of all financial services to any persons or corporations (which includes providing general and/or personal financial product advice). FSTA does not purport to provide legal or other expert advice in the training materials or its training services and if legal or expert advice is required, then the services of a competent professional legal practitioner should be sought. Page 12

15 The student may attend or run study groups in relation to FSTA s training materials and/or services. In attending and/or running these study groups, the student (or any person either undertaking or being involved with facilitating the training materials on behalf of the student or FSTA, and/or the student s licensee for whom the student is an authorised representative to provide financial services) must clearly communicate to all study group participants (whom must all accept that): FSTA is not involved in any way in these study groups. Nor is any involvement to be marketed, implied or perceived in any way by the actions of those people mentioned above; The study groups do not form any part of the official delivery and assessment of the training materials by FSTA; and The facilitator(s) of the study groups are not representing, nor are to be perceived as representing FSTA in any way. Examination and Assessment Policy 1. Examination Policy Students who encounter any problems or difficulties during the course of an examination should apply for SPECIAL CONSIDERATION. Please contact FSTA within 1 business day after the examination date if you wish to discuss any such consideration. Once FSTA is notified, all applications for special consideration must then be explained in writing, detailing the specific problem and how it affected examination performance. Please include any relevant supporting documentation with your claim. FSTA will take into consideration previous similar cases in order to ensure equity to all students. A student s performance will be evaluated in light of the disadvantage suffered, however, an application for special consideration in itself does not guarantee an amended result. Special consideration will not be awarded to students who have passed. FSTA does not tolerate any form of cheating or conduct that is misleading and/or deceptive, unethical and/or inappropriate. Please refer to FSTA s policy on Disciplinary Procedures (in the Student Information Guide) regarding this issue. Before sitting an online exam, the student must accept a declaration that they have not sought any assistance. If the student has sought or is deemed to have sought assistance, they will be failed and banned from all FSTA courses, with no refund of monies paid. A re-sit examination will incur a RE-SIT FEE (see FSTA s Student Information Guide, section 6 for the fee). The re-sit fee is to be PAID PRIOR to the student wishing to undertake the re-sit examination and requires an Exam Re-sit form to be completed and sent to FSTA for FSTA to set up the re-sit exam. 2. Examination Results and Feedback Examinations for the Knowledge Stream (Modules 101, 102, 103, 104, 105, 106 and 301) are marked by the online system immediately, when the exam or section of an exam is completed. To ensure the integrity of our exams, QUESTIONS AND ANSWERS WILL NOT BE RELEASED TO STUDENTS FOR ANY REASON. FSTA will not provide feedback on examination results. Examinations are designed to evaluate a student s knowledge and understanding of the module. They are not designed to provide feedback concerning deficiencies in knowledge. Page 13

16 If a student has a genuine issue with an examination question/s, then they may raise this concern with FSTA via ([email protected]) within 1 business day after the exam date. FSTA will review the question/s and provide feedback to the student in this instance only. Student must attain a result of 75% in each unit in an exam in order to attain competency in that exam. All students retain the right to an appeal via our Appeals Policy. 3. Skills Assessment Results and Feedback FSTA s validation/verification of assessment tasks for the Skills Assessments and the subsequent issue of results of non/competency is binding and final and no correspondence will be entered into. To ensure the integrity of our assessments, ANSWERS WILL NOT BE RELEASED TO STUDENTS. STUDENTS ARE REQUIRED TO RETAIN A BACK UP COPY OF THEIR SKILLS ASSESSMENT TASKS BEFORE THEIR SUBMISSION TO FSTA. Should anything happen to the submission before it reaches FSTA s office, FSTA IS NOT LIABLE and will need to be provided with the student s back up copy. To ensure the integrity of the assessment process, the student s skills assessment task/s and the related answers will NOT BE RETURNED TO THE STUDENT. NB FSTA is required to keep all student assessments on file for several years. Please do not contact FSTA to ask about your skills assessment result/s. After FSTA has received your assessment task(s), please allow up to 4 weeks for FSTA to notify you of the result. The assessor/supervisor will indicate on the day of their visit as to whether the student has attained competency (or not). However, the assessment outcome must be validated/verified by FSTA before the outcome is official. NB If the Skills Assessment s outcome is changed/suspended and/or additional evidence is required before an outcome can be validated/verified, then this change/suspension/request is binding and final and no correspondence may be entered into by the student and/or the assessor/supervisor. The skills assessment tasks are designed to evaluate a student s skills in applying the knowledge they have learned. Feedback will only be provided to those students who have not attained competency in the task. If a student has a genuine issue or concern with a skills assessment task/s, then they may raise this with FSTA prior to handing in their assessment task/s. FSTA will review the issue and discuss it with the student. If, after a student has submitted their assessment task, they believe they encountered problems or difficulties during the course of completing the task, then they may apply for SPECIAL CONSIDERATION. Please contact FSTA within 3 business days of submitting the assessment task if you wish to discuss the possibility of any such consideration. Once FSTA is notified, all applications for special consideration must then be explained in writing, detailing the specific problem and how it affected the student s performance in the task. Please include any supporting relevant documentation to your claim. FSTA will take into consideration previous similar cases in order to ensure equity to all students. A student s performance will be evaluated in light of the disadvantage suffered, however, an application for special consideration in itself does not guarantee an amended result. Page 14

17 FSTA s SKILLS ASSESSMENT GRADES are as follows: Grade Competent NYC Outcome competency achieved not yet competent competency not yet achieved Upon signing and submitting the Student ment Form, students effectively acknowledge and fully accept the terms and conditions of all FSTA s Policies in this Student Information Guide Page 15

18 Appendix A Units of Competency When an RTO designs a training program, it is free to structure it as it thinks best. However, the RTO is required to make sure that the training meets the required national standards. This includes the content and assessment methods used. To offer a Diploma, an RTO must ensure that it covers at least eight units of competency, which are set out in the Financial Services Training Package (FSTP). This includes five core units and at least three elective units. FSTA has structured its training in a way that it believes will best suit the learning needs of specialist and/or full service financial advisers and planners. Our Diploma and PS 146 Training Courses cover the following units of competency. In doing so, our training meets the required standards and can be listed on the ASIC Training Register: Competency Unit Title Core Units FNSFPLN501A Comply with financial planning practice, ethical and operational guidelines and regulations. FNSFPLN502A FNSFPLN503A FNSFPLN504A FNSFPLN505A Conduct financial planning analysis and research. Develop and prepare financial plan. Implement financial plan. Review financial plan and provide ongoing service. Elective Units FNSFPLN506A Meet with client to determine client requirements and expectations. FNSFPLN507A FNSASIC503ZA Provide financial planning advice. Provide advice in Financial Planning. In addition, our Diploma and/or PS146 Training Courses cover the following units of competency: Competency Unit Title Elective Units FNSAIC503TA Provide Advice in Managed Investments FNSAIC503UA FNSAIC503WA FNSAIC503XA Provide Advice in Superannuation Provide Advice in Securities Provide Advice in Life Insurance Page 16

19 Appendix B Consent Form for Disclosure of Student Information ABN , Registered Training Organisation No ASIC Authorised Assessor, Listed on the ASIC Training Register Level Kent Street Sydney NSW 2000 GPO Box 1576 Sydney NSW 2001 Phone (02) Fax (02) [email protected] Consent Form for Disclosure of Student Information Financial Services Training & Assessment Pty Ltd ( FSTA ) is a Registered Training Organisation (no ) ( RTO ) and ASIC authorised assessor. FSTA offers training and assessment services through its Diploma of Financial Services (Financial Planning) and PS146 Training Courses. FSTA is listed on the ASIC Training Register. As an RTO, FSTA is subject to the strict rules and regulations of The Australian Quality Training Framework (AQTF), notably The Standards for Registered Training Organisations, which serve to protect the integrity of qualifications issued and the services provided by all RTOs. One particular regulation is Standard 1.4 which stipulates (emphasis added): The RTO must document and implement procedures to assure the integrity, accuracy and currency of records that include, but are not limited to... vi) ensuring that, except as required under the Standards for Registered Training Organisations or by law, information about a client is not disclosed to a third party without the [prior] written consent of the client. In accordance with the requirements of Standard 1.4, I (insert name) Of (address) Postcode Hereby grant (insert person/licencee s name and ABN) consent to obtain a copy of any and all Statements of Achievement, Statements of Attainment and/or any other qualifications issued to me to date and in the future, in my name, by FSTA. Signature: Date: / / Page 17

20 Appendix C FSTA: Exam Re-Sit Form ABN , Registered Training Organisation No ASIC Authorised Assessor, Listed on the ASIC Training Register Level Kent Street Sydney NSW 2000 GPO Box 1576 Sydney NSW 2001 Phone (02) Fax (02) [email protected] The student is to complete all the fields in the following form. Incomplete forms will result in delays to exam re-sits. A tax receipt will be sent to the student for their payment. First name Surname Mailing Address State Postcode Phone Work ( ) Mobile ( ) 1 Which module(s) do you require to undertake an exam re-sit for (please tick): 101 Introduction to Financial Services Planning 102 Introduction to Financial Products 103 Managed Investments and Shares 104 Superannuation 105 Life Insurance 106 Australian Taxation System + Financial Strategies 201 Self Managed Super Funds 202 Equity Release 301 Insurance through Superannuation 303 Gearing for Investment A fee of $35 per exam (GST free) is levied by FSTA. An exam re-sit allows the student one additional attempt at an exam in which competency was not achieved. 2 Please indicate which exam you wish to re-sit (eg, Exam 2): Page 18

21 3 PAYMENT I authorise a total of $. to be charged to the following credit card for my exam re-sit(s). Bankcard Visa Mastercard Card Number: Expiry Date: / Name of cardholder: Telephone of cardholder: Signature of cardholder: Date: / / For security purposes, FSTA will contact the cardholder to undertake a Card Check Value (CCV) verification when processing the credit card payment. A CCV verification ensures that the cardholder is aware of the transaction. OR Cost Centre Charge: Asteron employees only - must have prior manager approval Cost Centre no. Total Amount Manager s Name Manager s Signature 4 STUDENT CONFIRMATION I confirm that the information provided by me on this form is true and accurate; and I will undertake all my online examinations without any assistance. If I have sought or am deemed to have sought assistance, I am aware that I will be failed and banned from all of FSTA s courses, with no refund of monies paid. Full Name: Signature: Date: / / Please fax this form to FSTA on (02) FSTA will notify you when your exam re-sit is available. RTO use only Payment processed by on Date: / / Student Notified of exam re-sit(s) by on Date: / / Page 19

22 Appendix D FSTA: Credit Transfer Form ABN , Registered Training Organisation No ASIC Authorised Assessor, Listed on the ASIC Training Register Level Kent Street Sydney NSW 2000 GPO Box 1576 Sydney NSW 2001 Phone (02) Fax (02) [email protected] The student is to complete all the fields in the following form. Incomplete forms will result in delays to credit transfers. A tax receipt will be sent to the student for their payment. First name Surname Mailing Address State Postcode Phone Work ( ) Mobile ( ) 1 Which module(s) do you wish to claim a credit transfer for (please tick): 101 Approved / Not Approved by Date / / 102 Approved / Not Approved by Date / / 103 Approved / Not Approved by Date / / 104 Approved / Not Approved by Date / / 105 Approved / Not Approved by Date / / 106 Approved / Not Approved by Date / / 201 Approved / Not Approved by Date / / 202 Approved / Not Approved by Date / / 301 Approved / Not Approved by Date / / 303 Approved / Not Approved by Date / / A fee of $50 per module credit transfer (GST free) is levied by FSTA. Please ensure that documentary evidence for each module credit transfer claimed is attached to this form. Refer to FSTA s Student Information Guide for all details on module credit transfer(s). Page 20

23 3 PAYMENT I authorise a total of $. to be charged to the following credit card for my credit transfer(s). Bankcard Visa Mastercard Card Number: Expiry Date: / Name of cardholder: Telephone of cardholder: Signature of cardholder: Date: / / For security purposes, FSTA will contact the cardholder to undertake a Card Check Value (CCV) verification when processing the credit card payment. A CCV verification ensures that the cardholder is aware of the transaction. OR Cost Centre Charge: Asteron employees only must have prior manager approval Cost Centre no. Total Amount Manager s Name Manager s Signature 4 STUDENT CONFIRMATION I confirm that the information provided by me on this form is true and accurate; and I will undertake all my online examinations without any assistance. If I have sought or am deemed to have sought assistance, I am aware that I will be failed and banned from all of FSTA s courses, with no refund of monies paid. Full Name: Signature: Date: / / Please fax this form to FSTA on (02) FSTA will notify you when your credit transfer(s) has/have been approved. RTO use only Payment processed by on Date: / / Student Notified of credit transfer(s) by on Date: / / Page 21

24 Appendix Ei Manual ment Form for Suncorp Group Employees, Guardianfp & Cameron Walshe only ABN , Registered Training Organisation No ASIC Authorised Assessor, Listed on the ASIC Training Register Level Kent Street Sydney NSW 2000 GPO Box 1576 Sydney NSW 2001 Phone (02) Fax (02) CONTACT DETAILS Title Mr Mrs Miss Ms Dr Other Surname Given name Address Postal Address (If different to above) Phone Work ( ) State State Postcode Postcode Fax ( ) Mobile 2 EMPLOYMENT, EDUCATION, OTHER Current Employment Details (Including employer) Educational Qualifications (Please fax copies to us) Credit transfers claimed for: Please provide details of any disability that impacts upon your learning 3 FSTA OFFICE USE ONLY student manager Copy Finance Learning Seat Page 22

25 4 COURSES AND FEES FSTA offers the following packaged courses: Course Name Modules for General Advice Modules for Personal Advice PS146 Training Course 1 - Managed Investments and Securities PS146 Training Course 2 - Life Insurance PS146 Training Course 3 - Superannuation 101, , 102, , , 102, , , 102, Diploma of Financial Services (Financial Planning) 101, 102, 103, 104, , 102, 103, 104, 105, or 403 and 404 and 405 Please select which individual or combination of modules you wish to study from the list on the next page. Page 23

26 Please indicate which of the following KNOWLEDGE MODULES you are enrolling in and for which modules you are claiming a credit transfer: Select One Module Module Name Member Total Course Price Module 101 Introduction to Financial Services and Planning $ Module 102 Introduction to Financial Products $ Module 103 Managed Investments and Shares $ Module 104 Superannuation, Social Security & Income Stream Products $ Module 105 Life Insurance Products & Applications $ Module 106 The Australian Taxation System & Financial Strategies $ Module 201 Self-Managed Superannuation Fund (Knowledge and Skills inclusive) $ Module 202 Equity Release $ Module 301 Insurance through Superannuation* $ Module 303 Gearing for Investment* $40.00 * does not for part of the required training for the Diploma or PS146 Training Courses as per ASIC regulations. Sub Total $. Please indicate which of the following SKILLS MODULES you are enrolling in and for which modules you are claiming a credit transfer or that you have previously studied with FSTA: Select One Module Module Name Member Total Course Price Module 403 Skills Assessments for Managed Investments and Shares $ Module 404 Skills Assessment for Superannuation $ Module 405 Skills Assessment for Life Insurance and Products Applications $ Module 400 Combined Skills Assessment (403, 404 and 405) $ Sub Total $. Total for Knowledge Modules $. TOTAL FEE $. The Credit Transfer form (see Appendix D) must be submitted for any credit transfers claimed Page 24

27 6 PAYMENT I authorise a total of $. to be charged to the following credit card. Bankcard Visa Mastercard Card Number: Expiry Date: / Name of cardholder: Telephone of cardholder: Signature of cardholder: Date: / / For security purposes, FSTA will contact the cardholder to undertake a Card Check Value (CCV) verification when processing the credit card payment. A CCV verification ensures that the cardholder is aware of the transaction. OR Cost Centre Charge: Asteron employees only must have prior manager approval Cost Centre no. Total Amount Manager s Name Manager s Signature OR Post cheque: FSTA Pty Ltd PO Box 1576 Sydney NSW Total Amount 7 DECLARATION I declare that: All the information provided by me is true and correct. If the information is incorrect, FSTA may suspend my access to the online system until the information is corrected; I have read the Student Information Guide and I agree to the requirements stated therein; I accept all the terms and conditions as laid out in the Student Information Guide which has been provided to me prior to the commencement of training. I understand that the fees are non-refundable; and I will undertake all my online examinations without any assistance. If I have sought or am deemed to have sought assistance, I am aware that I will be failed and banned from all of FSTA s courses, with no refund of monies paid. Signature: Date: / / WHEN COMPLETE, kindly FAX this enrolment form to FSTA: Fax Number: (02) FSTA will notify you when your enrolment has been processed Page 25

28 Appendix Eii Manual ment Form for External Students ABN , Registered Training Organisation No ASIC Authorised Assessor, Listed on the ASIC Training Register GPO Box 1576 Sydney NSW 2001 Phone (02) Fax (02) CONTACT DETAILS Title Mr Mrs Miss Ms Dr Other Surname Given name Address Postal Address (If different to above) State State Postcode Postcode Phone Work ( ) Home ( ) Fax ( ) Mobile 2 EMPLOYMENT, EDUCATION, OTHER Current Employment Details (Including employer) Educational Qualifications (Please fax copies to us) Credit transfers claimed for: Please provide details of any disability that impacts upon your learning 3 FSTA OFFICE USE ONLY student manager Copy Finance Learning Seat Page 26

29 4 COURSES AND FEES FSTA offers the following packaged courses: Course Name Modules for General Advice Modules for Personal Advice PS146 Training Course 1 - Managed Investments and Securities PS146 Training Course 2 - Life Insurance PS146 Training Course 3 - Superannuation 101, , 102, , , 102, , , 102, Diploma of Financial Services (Financial Planning) 101, 102, 103, 104, , 102, 103, 104, 105, or 403 and 404 and 405 Please indicate which of the following KNOWLEDGE MODULES you are enrolling in and for which modules you are claiming a credit transfer: Select One Module Module Name Total Course Price Module 101 Introduction to Financial Services and Planning $ Module 102 Introduction to Financial Products $ Module 103 Managed Investments and Shares $ Module 104 Superannuation, Social Security & Income Stream Products $ Module 105 Life Insurance Products & Applications $ Module 106 The Australian Taxation System & Financial Strategies $ Module 201 Self-Managed Superannuation Fund (Knowledge and Skills inclusive) $ Module 202 Equity Release $ Sub Total $. Page 27

30 Please indicate which of the following SKILLS MODULES you are enrolling in and for which modules you are claiming a credit transfer: Select One Module Module Name Total Course Price Module 403 Skills Assessments for Managed Investments and Shares $ Module 404 Skills Assessment for Superannuation $ Module 405 Skills Assessment for Life Insurance and Products Applications $ Module 400 Combined Skills Assessment (403, 404 and 405) $ Sub Total $. Total for Knowledge Modules $. TOTAL FEE $. The Credit Transfers form (see Appendix D) must be submitted for any credit transfers claimed 4 PAYMENT I authorise a total of $. to be charged to the following credit card. Bankcard Visa Mastercard Card Number: Expiry Date: / Name of cardholder: Telephone of cardholder: Signature of cardholder: Date: / / For security purposes, FSTA will contact the cardholder to undertake a Card Check Value (CCV) verification when processing the credit card payment. A CCV verification ensures that the cardholder is aware of the transaction. OR Post cheque: FSTA Pty Ltd PO Box 1576 Sydney NSW Total Amount Page 28

31 5 DECLARATION I declare that: All the information provided by me is true and correct. If the information is incorrect, FSTA may suspend my access to the online system until the information is corrected; I have read the Student Information Guide and I agree to the requirements stated therein; I accept all the terms and conditions as laid out in the Student Information Guide which has been provided to me prior to the commencement of training. I understand that the fees are non-refundable; and I will undertake all my online examinations without any assistance. If I have sought or am deemed to have sought assistance, I am aware that I will be failed and banned from all of FSTA s courses, with no refund of monies paid. Signature: Date: / / WHEN COMPLETE, kindly FAX this enrolment form to FSTA: Fax Number: (02) FSTA will notify you when your enrolment has been processed Page 29

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