General insurance is subdivided into Tier 1 and Tier 2 products. What is the difference?
Tier 1 General Insurance covers Personal Accident and Sickness, which is not included in Tier 2 General Insurance.
To achieve compliance to give personal advice, participants must also complete an additional Skills assessment.
What is a skills assessment?
This assessment tests your ‘abilities’ around engaging a client and the relevant information you should provide to and elicit from a client when providing personal financial advice. The individual Skills assessment is an interview, conducted by an ASIC authorised assessor.