RG146 Tier 1 Insurance Broking Program

Overview

Insurance brokers play an important role in insurance markets, comparing general insurance products from multiple providers to develop risk management solutions for clients, particularly businesses and customers with complex needs.

Our RG146 Tier 1 Insurance Broking is compliant with the revised FNS training package and latest laws, regulatory guidance and industry codes. Developed in consultation with practising professionals, this subject incorporates features and industry best practices, giving our students a valuable edge in the field.

View our Tier 1 Insurance Broking brochure

About our RG146 Tier 1 Insurance Broking

Navigate the make-up of the insurance market, features of general insurance products and how the insurance broking process works.

Our RG146 Tier 1 Insurance Broking meets ASIC Regulatory Guide 146 (RG146) education requirements for providing general and personal advice with broking clients.

Entry Requirements

Prospective Students need to:

  • Be 18 years of age or older
  • Be working in the insurance sector: For some assessment tasks, students may need to refer to their organisation’s policies, procedures, and product information
  • Be digitally literate to: conduct online research activities, upload, download and save documents and make audio/ video recordings on a smartphone, tablet or computer
  • Have suitable language, literacy and numeracy skills to undertake the training – you may be required to undertake an LLN assessment
  • Have a Unique Student Identifier

Duration

Students have up to 16 weeks to complete the learning and assessment requirements for RG146 Tier 1 Insurance Broking.

Credit Transfer and Recognition of Prior Learning

These are the processes whereby Financial Education Professionals can recognise previous training, study or work experience that is equivalent to units of competency in our Nationally Recognised Training.

Please refer to our Credit Transfer or Recognition of Prior learning page for further information.

Are you a training manager looking for the right compliance training for your employees? Explore our tailored programs that keep your teams skilled and compliant. Contact us for your corporate solution.

Program Content

Learning Outcomes

  • Outline the general make-up of Australia’s insurance industry
  • Describe the participants in Australia’s insurance industry
  • Discuss the characteristics of consumer and business insurance products and services
  • Summarise how general insurance is regulated in Australia
  • Explain the role of insurance brokers and the broking process
  • Demonstrate conduct and disclosure obligations and best practice tips for providing general and personal advice in Tier 1 Insurance Broking.

What you will learn

Who is this course for?

  • Insurance Professionals

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

On successful completion of RG146 Tier 1 Insurance Broking you will be awarded a Certificate of Attainment confirming that you are RG146 compliant to provide general and personal advice in the following specialist knowledge area:

  • RG146 Tier 1 Insurance Broking

You will also receive a nationally recognised Statement of Attainment awarding the following units of competency:

FNSASICY513 Provide advice in insurance broking
FNSIBK415 Meet compliance requirements relating to insurance broking
FNSIBK416 Deliver insurance broking services
FNSIBK518 Implement changes to insurance programs of broking clients
FNSIBK523 Prepare submissions for new insurance broking business

For more information, access our course brochure

Download Brochure

Frequently Asked Questions

Your USI is your individual education number for life. It is a compulsory requirement for all Australian students who have studied or are studying nationally recognised training. It also creates a government authenticated record of your vocational education and training (VET) achievements regardless of the training provider from 2015 onwards. It is a condition of enrolment with Financial Education Professionals that you have a USI. This is collected as part of the enrolment process. Visit www.usi.gov.au to learn more or create your USI.

To successfully study at Financial Education Professionals, students are expected to have proficient technology-related skills, plus;
  • A high-speed stable internet connection to access learning materials and assessments
  • A unique email address.
  • A smartphone - select assignment questions ask you to upload audio or video recordings as supplementary evidence.

Sound English language, literacy, numeracy and communication skills are required as these skills are incorporated in each subject. A pre-entry assessment is used to determine whether applicants have appropriate Language Literacy and Numeracy skills (LLN) to enable a successful outcome in their chosen course. You may be required to undertake an LLN assessment for our Nationally Recognised Training Qualifications.

 
FEP is an education provider, so cannot guide you on a career path. You could start with chatting to an employer or prospective employer to determine what you would need to do. You could also check the following:
 
What is RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act). Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.