Financial Advisers Able to Book Standard Exam

Financial Advisers Able to Book Standard Set B Examination

Financial advisers can now take another practical step towards authorisation. From today, advisers can book their Standard Set B examination, with the first examination sittings taking place from 20 September 2010.

The Draft Code of Professional Conduct requires all financial advisers wishing to become an Authorised Financial Adviser [AFA] to sit and pass the Standard Set B examination. The examination deals with knowledge of the laws applicable to financial advisers, knowledge of The Code of Professional Conduct for Financial Advisers, and knowledge of consumer protection legislation.

“We have released examination capacity into the booking system for examinations in Auckland, Wellington and Christchurch from 20 September 2010,” says Michael Frampton, ETITO Manager – Strategy and Corporate Relations. “ETITO will be monitoring bookings and will be releasing examination capacity in the remaining eleven provincial centres shortly.”

The examination will be one hour long, computer-based and closed book.

“There is now sufficient clarity due to the passing of the amendment legislation, and the progress of the revised Draft Code, for ETITO to begin making preparations for Standard Set B assessment,” says Frampton. “It’s important for advisers to begin their preparation for assessment now.”

All examination and workplace assessment reservations can be made at www.afacompetence.org.nz.

The website is also home to ETITO’s registration and assessment booking system. The registration process must be completed before a financial adviser can book an examination. Registration with ETITO also provides financial advisers with an ETITO identification number which is required for an adviser’s authorisation application to the Financial Services Providers Register.

Financial advisers who are planning to undertake training through a training provider, assessment through a DAO, or are a member of a professional association, should consult with these organisations as they may be organising bulk booking for Standard Set B assessment.

ENDS