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:
- Principles of how to assess a prospective borrower’s eligibility to obtain finance and service debt
- Techniques on how to develop and nurture relationships with clients, other professionals and third party referrers
- 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:
| | Diploma of Finance and Mortgage Broking Management (FNS50315) |
*IFP (optional)
Introduction to Finance Principles | DIPMB1
Industry Knowledge and the Lending Process | DIPMB2
Complex Lending and Broking | DIPMB3
Business Management Skills
|
For more information, see subject outlines below:
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
| Subject | Topics |
| Introduction to Finance Principles (IFP) | Topic 1: Introduction to business finances
Topic 2: Accounting principles
Topic 3: The balance sheet
Topic 4: The income statement
Topic 5: Statement of cash flows
Topic 6: Analysing financial statements
Topic 7: Cost behavior analysis
Topic 8: Budgeting and forecasting |
| Industry Knowledge and the Lending Process (DIPMB1) | Industry Knowledge
Topic 1-1: The industry and economy
Topic 1-2: Legislation and codes of practice
Topic 1-3: Products and services
Business Skills
Topic 2-1: Organisations, teams and individuals
The Lending Process
Topic 3-1: Understanding the client’s needs
Topic 3-2: Developing and presenting solutions
Topic 3-3: Packaging the application to send to lender/supplier
Topic 3-4: Monitor the loan process
|
| Complex Lending and Broking (DIPMB2) | Complex Lending and Broking
Topic 1: Identifying and developing complex broking options
Topic 2: Legislation and codes of practice |
| Business Management Skills (DIPMB3) | Business Management Skills
Topic 1: Business growth and marketing
Topic 2: Business operations
Topic 3: People management |
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:
- Enrolment directly into the Diploma of Finance and Mortgage Broking Management (FNS50315) – $1090 (GST exempt).
- Enrolment directly into the Diploma of Finance and Mortgage Broking Management (FNS50315) with Introduction to Finance Principles (IFP) subject – $1090 (GST exempt).
- 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:
| Subject | Duration |
| Introduction to Finance Principles (IFP) – optional | 6 weeks course work
No resubmission time available (no formal assessments)
|
| Industry Knowledge and the Lending Process (DIPMB1) | 12 weeks course work
4 weeks resubmission time as outlined above |
| Complex Lending and Broking (DIPMB2) | 12 weeks course work
4 weeks resubmission time as outlined above |
| Business Management Skills (DIPMB3) | 12 weeks course work
4 weeks resubmission time as outlined above |
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.
This course requires you to read comprehensive learner workbooks, complete a range of written assessments, undertake independent research activities and at times engage in online forums and discussions. Furthermore, the delivery mode relies on the extensive use of written communication.
If you have any doubts about whether you have the language, literacy and numeracy skills to undertake a Kaplan Professional program, we recommend you speak with our Student Services team on 1300 662 203 or email mail@kaplan.edu.au.
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Audio recording app
You will need to use a free or paid audio-recording app on your phone, tablet or computer to record and submit your oral assignment. Most devices come with a free built-in audio/voice-recording app. More information should be available in your device manual or on the device manufacturer’s website. Below are help links for some popular devices.
To successfully complete this qualification, individuals will require basic computing skills. This may include:
- saving and editing Microsoft Office documents
- researching, accessing and searching the internet
- downloading and saving documents from websites
- uploading documents through websites
- making an audio recording using a smartphone, tablet or computer
- participating in online discussions
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:
- Diploma of Finance and Mortgage Broking Management; Enrolment directly into the Diploma of Finance and Mortgage Broking Management (FNS50315).
- Diploma of Finance and Mortgage Broking Management + IFP; Enrolment directly into the Diploma of Finance and Mortgage Broking Management (FNS50315) with Introduction to Finance Principles (IFP) subject.
- Diploma of Finance and Mortgage Broking Management 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:
- Introduction to Finance Principles (IFP) (optional)
- Industry Knowledge and the Lending Process (DIPMB1)
- Complex Lending and Broking (DIPMB2)
- Business Management Skills (DIPMB3)
Delivery
This course is delivered online via Kaplan’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 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’.
| Subject | Assessment | Assessment Detail |
| Introduction to Finance Principles (IFP) | No formal assessment | |
| Industry Knowledge and the Lending Process (DIPMB1) | 1 Exam | Supervised, open book multiple choice examination, four (4) attempts. |
| 1 Written Assignment | Written and oral assignment – two (2) attempts
• Written - short answer questions, case studies.
• Oral - Oral response to questions and a role play.
The mode of oral assessment is by audio recording. As part of the course requirements, individuals will need to find a volunteer to assist with their role play in the oral assignment.
|
| Complex Lending and Broking (DIPMB2) | 1 Exam | Supervised, open book multiple choice examination, four (4) attempts. |
| 1 Written Assignment | Written assignment — two (2) attempts
• short answer questions, case studies
|
| Business Management Skills (DIPMB3) | 1 Exam | Supervised, open book multiple choice examination, four (4) attempts. |
| 1 Written and Oral Assignment | Written and oral assignment – two (2) attempts
• Written - short answer questions and a case study.
• Oral - Oral response to questions and a role play.
The mode of oral assessment is by audio recording. As part of the course requirements, individuals will need to find a volunteer to assist with their role play in the oral assignment.
|
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 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
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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.
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