Course overview

Are you currently working in the mortgage broking industry and want to meet the RG 206 compliance requirements while obtaining professional training?

Do require a further understanding of commercial, business and premium client lending?

Do you want to attain Credit Adviser (CA) or Associate Credit Adviser (ACA) status with the Mortgage & Finance Association of Australia (MFAA)?

Kaplan Professional’s Diploma of Finance and Mortgage Broking Management FNS50315 is for those wanting a career in the finance and mortgage broking industry. This course will provide an understanding of some of the critical aspects in the finance and mortgage broking industry while meeting the licensing requirements for mortgage brokers outlined in ASIC’s Regulatory Guide 206 (RG 206).

Kaplan Professional’s Diploma of Finance and Mortgage Broking Management FNS50315 offers:

1. Principles of how to assess a prospective borrower’s eligibility to obtain finance and service debt
2. Techniques on how to develop and nurture relationships with clients, other professionals and third party referrers
3. How to identify risks and apply risk management processes

This qualification is recognised by the Mortgage & Finance Association of Australia (MFAA) and the Finance Brokers Association of Australia (FBAA). Kaplan is a preferred qualification provider for the MFAA. Completion of this qualification fulfils the education requirements to meet Credit Adviser (CA) or Associate Credit Adviser (ACA) status with the MFAA. Please review the educational requirements on the FBAA and MFAA websites for further information.

This course comprises of three subjects with the option to study an introductory subject, Introduction to Finance Principles (IFP)*. Individuals with 6 months or less experience in industry are encouraged to complete this subject prior to completing Industry Knowledge and the Lending Process (DIPMB1). A recommended study order is below:

For more information, see subject outlines below:

• Introduction to Finance Principles (IFP)
• Industry Knowledge and the Lending Process (DIPMB1)
• Complex Lending and Broking (DIPMB2)
• Business Management Skills (DIPMB3)

Individuals who have previously completed the Certificate IV in Finance and Mortgage Broking FNS40815 may enrol into the Diploma of Finance and Mortgage Broking Management FNS50315, and the units of competency may be recognised through credit transfer as the first subject of the Diploma. These individuals will  not be required to complete the optional Introduction to Finance Principles (IFP).

Subject information

Learning outcomes

Individuals who choose to complete the optional subject Introduction to Finance Principles (IFP) will have a basic understanding of:

• The finance industry.
• Accounting principles.
• Financial statements.

On successful completion of the Diploma of Finance and Mortgage Broking Management FNS50315 subjects below, individuals should be able to:

DIPMB1

• Accurately and efficiently, evaluate and process credit applications.
• Identify and meet the needs of finance and mortgage broking clients.
• Appropriately present broking options and solutions to client.
• Develop productive relationship with clients.
• Apply knowledge of the financial services industry to their professional practice.

DIPMB2

• Accurately and efficiently evaluate and process complex credit applications.
• Identify and meet the needs of clients with specialised and complex financing requirements, including commercial, business, property and leasing finance.
• Analyse financial statements and the application of financial ratios in assessing the viability of proposals.

DIPMB3

• Demonstrate self-management skills in building and maintaining a client base in the finance and mortgage broking industry.
• Develop professional business relationships.
• Apply the knowledge of business management to promote and develop a business.

Topics

Units of competency

The 15 units of competency are awarded for the successful completion of the Diploma in Finance and Mortgage Broking Management FNS50315; 10 core and 5 electives. There are no units of competency issued in the IFP Introduction to Finance Principles subject.

For information on the units of competency see the Subject outlines in the Course Overview tab.

Fees

There are three enrolment options:

1. Enrolment directly into the Diploma of Finance and Mortgage Broking Management FNS50315 – $1090 (GST exempt).
2. Enrolment directly into the Diploma of Finance and Mortgage Broking Management FNS50315 with Introduction to Finance Principles (IFP) subject – $1090 (GST exempt).
3. If you have completed your Certificate IV in Finance and Mortgage Broking FNS40815, you can upgrade into the Diploma of Finance and Mortgage Broking Management FNS50315 for $585 (GST exempt).

For additional study related fees, please click here.

Duration

Individuals have a total of:

• 42 weeks to complete the learning and assessment requirements for the Diploma of Finance and Mortgage Broking Management FNS50315, from their initial activation date.
• An additional four (4) weeks resubmission time per subject (excluding IFP Introduction to Finance Principles) – if an individual reaches the end of their initial enrolment period and has been deemed not yet competent in one or more assessment items, then an additional 4 weeks will be granted, provided the individual attempted all assessment tasks during the initial enrolment period.

Therefore, if an individual completes the learning and assessment, and the resubmission time in every subject is granted (except in IFP Introduction to Finance Principles), the duration will be 54 weeks.

The Diploma of Finance and Mortgage Broking Management FNS50315 qualification, must be completed within two years of the initial enrolment date.

The subject breakdown for this course is below:

The amount of training for this course may be up to 15 hours per week. The amount of training is the hours an individual can expect to spend to complete their course work and assessments.

In addition to the amount of training, individuals who are new to industry or vocational training could need up to 5 hours per week known as unsupervised hours. These additional hours are for study skills or further research. For example, an individual not working in industry would need more time to review industry websites that are usually introduced in workplace compliance training. Individuals working in industry may be able to complete the course requirements in a shorter timeframe or less hours per week.

Entry requirements

Education requirements

There are no entry requirements to enrol directly into the Diploma of Finance and Mortgage Broking Management FNS50315.

However, Kaplan Professional recommends that individuals who are new to industry (that is, individuals with less than 6 months’ experience in the finance sector) complete the optional subject, Introduction to Finance Principles (IFP).

If you have already completed your Certificate IV in Finance and Mortgage Broking FNS40815, you will not be required to complete Introduction to Finance Principles (IFP), and the units of competency may be recognised though credit transfer as the first subject of the Diploma.

Enrolment information

Enrolment

Individuals may enrol into the Diploma of Finance and Mortgage Broking Management FNS50315 at any time and begin studying immediately on enrolment.

Upon enrolment, please select one of the three options below:

1. Diploma of Finance and Mortgage Broking Management FNS50315; Enrolment directly into the Diploma of Finance and Mortgage Broking Management FNS50315.
2. Diploma of Finance and Mortgage Broking Management FNS50315 + IFP; Enrolment directly into the Diploma of Finance and Mortgage Broking Management FNS50315 with Introduction to Finance Principles (IFP) subject.
3. Diploma of Finance and Mortgage Broking Management FNS50315 Upgrade; for individuals who have completed the Certificate IV in Finance and Mortgage Broking FNS40815 and wish to complete Diploma of Finance and Mortgage Broking Management FNS50315 (the units of competency from Certificate IV in Finance and Mortgage Broking FNS40815 may be recognised though credit transfer as the first subject of the Diploma- evidence of completion must be provided).

Enrol now >

Progrssion

It is recommended individuals complete the Diploma of Finance and Mortgage Broking Management FNS50315 subjects in the following order:

1. Introduction to Finance Principles (IFP) (optional)
2. Industry Knowledge and the Lending Process (DIPMB1)
3. Complex Lending and Broking (DIPMB2)
4. Business Management Skills (DIPMB3)

Delivery

This course is delivered online via Kaplan Professional’s learning management system KapLearn.

You will receive login details to KapLearn on enrolment. When you log on to KapLearn you are able to access the subject notes, assessments, additional learning materials such as media, case studies, practice activities and your online tutor.

Assessments are accessed and submitted through KapLearn.

Corporate clients should contact our Corporate Solutions Representative on
1300 728 505 to discuss face-to-face delivery options and how we can tailor our training to your business needs.

Recognition of Prior Learning (RPL)

Individuals may be able to obtain Recognition of Prior Learning (RPL) for a Kaplan Professional award subject based on their previous study and/or work experience. To do this, individuals must submit evidence that demonstrates they have already met the requirements of the subject through these other means.

Evidence can take many forms, such as information about approved study, information about work experience, certificates, transcripts or other credentials.

To find out if you are eligible for RPL, refer to our exemptions page.

Assessment

The assessments for each subject are listed below. Units of competency are co-assessed by topic within subjects, as listed in ‘Units of competency’.

Individuals may attempt the exam and/or submit their assignment at any time if they believe they are adequately prepared. Individuals will receive personal reminder emails as they approach their assessment deadlines. 

Individuals must be deemed competent in all assessment items, including demonstrating competency in all of the exam questions, in order to be awarded their qualification.  

To learn more about what to expect when completing an oral assignment using audio please click here.

Kaplan Professional’s exams venue

You can sit your exam while being supervised in your workplace or at a Kaplan office.

Click here for Kaplan office exam times and venues. 

Pathways

Study pathways

To stay ahead in this competitive industry, Kaplan Professional provides training in specialist knowledge areas such as financial planning or life insurance.

Career pathways

Candidates who meet all the course requirements will be able to seek work in the financial services in a finance and mortgage broking related role.

CPD

Continuing professional development (CPD) of your knowledge and skills is essential to remaining compliant under ASIC’s Regulatory Guide 206 (RG 206). ASIC has specified that representatives offering mortgage broking services must undertake 20 hours of CPD each year. CPD requirements for MFAA membership are set over and above ASIC requirements of 20 hours per year.

Kaplan offers CPD training for finance and mortgage brokers through Ontrack — our online CPD platform — which delivers monthly multimedia training, along with tracking and reporting capabilities.

Kaplan’s CPD training is recognised and accredited by the FBAA and MFAA. Please review the educational requirements on the FBAA and MFAA websites for further information. To learn more about our ASIC RG 206 compliance offerings, visit the CPD page for more information, or contact our CPD support team on 1300 527 526

Policies

Student policies

Individuals who enrol in a Kaplan Professional course are bound by our published policies, including the policy that sets out our rules for assessment. Individuals can review these policies here. The policies also assist individuals when their study program does not go as planned and they need extra support.

Terms and Conditions

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Refund Policy

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