Introduction to Consumer Credit

Introduction to Consumer Credit Short Course

Introduction to Consumer Credit is a short course for professionals working for an Australian Credit Licensee who provide product information in relation to their credit licensee’s products only or who are new to working in the consumer credit sector.

The course covers a broad range of sector-relevant issues, including an overview of Australia’s consumer credit market; regulation, licensing and responsible lending; general principles for assessing loan serviceability; features, benefits and limitations of typically offered personal loan and mortgage products; the influence of economic and market factors; and customer service best practice.

Who is this Course for?

  • Representatives who provide credit assistance only in relation to their licensee’s own credit products, including credit cards, personal loans, buy now pay later solutions (LCCCs), and home loans
  • Representatives needing to meet initial training requirements appropriate to their role and industry sector (Table 1 in RG 206.32)
  • Onboarding solution for representatives new to the consumer credit sector.

Aligned with initial and ongoing representative training requirements under RG 206 Credit licensing: Competence and training, the short course is designed to cover contents prescribed by ASIC in Table 2 of Section C of RG 206, i.e.

  • Dealing appropriately with consumers
  • Types of loan products and their characteristics
  • Economic and market context.

Program Content

  • Topic 1: Credit markets and participants
  • Topic 2: Consumer credit regulation and licensing
  • Topic 3: Application of cross-industry laws in financial services
  • Topic 4: The NCCP Act and responsible lending
  • Topic 5: Influence of economic and market factors on credit
  • Topic 6: Creating a best practice credit process
  • Elective a: Elective: Offering secured and unsecured personal loans
  • Elective b: Funding property settlement, including bridging finance and refinancing
  • Elective c: Product spotlight – Leasing consumer goods

Learning Outcomes

What you will learn

Who is this course for?

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

You will be awarded a Certificate of Completion, stating that you have completed the short course, Introduction to Consumer Credit.

It will be available online for you to download and print immediately.

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Frequently Asked Questions

To get started, either
  • Purchase your course online. (If checking out for your team, you can add multiple courses to the cart.) OR
  • Contact Us to arrange an invoice
Please note: Online orders may take up to 1 business day to be processed and for you to receive your course login details.  

To get started, either:
  • Purchase course/s online. (You can add multiple courses to the cart.) Please note: Online orders may take up to 1 business day to be processed and for your team to receive their course login details.
OR
Contact us for your Corporate Solution.
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.