Financial Education Professionals is a leading provider of technical training in financial services. We deliver innovative, contemporary training solutions developed by prominent industry experts and education specialists.
Our Personal Advice in Tier 1 General Insurance is designed for organisations and employees who sell general, personal and business insurance products as defined in RG 146. Importantly, this course incorporates coverage of personal accident and sickness insurance.
Those with Tier 2 RG 146 compliance can upgrade to Tier 1 if they need to add personal accident and sickness to their accreditation.
As well as general and specialist industry knowledge, our program offers tips for engaging with clients – whether they are enquiring over the phone or in person.
- Demonstrate compliance with corporations law, regulatory requirements and other legal principles that apply to participants in the financial services industry
- Identify the key participants, products, and activities that comprise insurance markets
- Describe the types of risks that general insurance is designed to protect against
- Explain the features of characteristics of personal accident and sickness policies that led ASIC to consider them a more complex insurance product
- Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the insurance industry
- Evaluate best practice principles for providing personal advice to clients
- Overview of financial services industry and regulation
- Operation of financial markets and the economy
- Financial markets and products
- Relevant legal principles and compliance
Assessment: Online multiple choice examination
Tier 1 General Insurance
- Overview of insurance markets
- Specialist general insurance knowledge
- Personal Accident and Sickness Insurance
- Providing insurance product information
Assessment: Online multiple choice examination + Skills Assessment* (Interview over the phone with an ASIC authorised assessor)
*Moving online in 2021
- FNSINC401 Apply principles of professional practice to work in the financial services industry
- FNSASICN503 Provide Tier 1 personal advice in general insurance
- FNSIAD501 Provide appropriate services, advice and products to clients
- FNSFMK505 Comply with financial services legislation and industry codes of practice
Upon successful completion you will be RG146 compliant to provide personal advice in Tier 1 General Insurance.
We estimate you will need approximately 40 hours study time to complete the program.
Each course is offered by self study via our learning portal, FEP Online. It provides you with online learning resources, support and assessment.
You have 16 weeks from your enrolment date in which to complete each course.
There are two (2) online open-book knowledge examinations, each comprising of forty (40) multiple choice questions. You are given two (2) attempts with a required 80% pass mark. Skills assessments are conducted by interview in person or over the phone with an ASIC authorised assessor.
How do I become RG146 compliant?
View our or visit ASICs RG 146 Licensing: Training of financial product advisers