Course overview

This course is no longer open for enrolments and has been replaced with the FNS50322 Diploma of Finance and Mortgage Broking Management. Click here to view new course details.

IMPORTANT: This qualification has been impacted by recent changes announced by the Australian Skills Quality Authority (ASQA). As a result, the final date Kaplan Professional will accept assessment submissions is 13 May 2023. This means you may not receive the full maximum duration advertised for this qualification and/or may not be able to access one or more extensions that might otherwise have been available to you under Kaplan Professional’s vocational education extension policy. It is essential all students review the information here to understand what this means for you before proceeding with your enrolment. If you enrol, it will be taken that you have read and understood this information. 

Do you want to join the Mortgage & Finance Association of Australia (MFAA) as an Accredited Finance Broker?

Kaplan Professional’s FNS50320 Diploma of Finance and Mortgage Broking Management 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).

Students are supported by live fortnightly tutor sessions throughout their learning experience. Each session provides an opportunity to engage with a tutor/subject matter expert in real-time. Students can use these one-hour sessions to drop in and ask questions on the subject content and assessments.

Summary video recordings are provided for each topic. These short videos provide a guide for students on key concepts and focus points for each topic.

Kaplan Professional’s FNS50320 Diploma of Finance and Mortgage Broking Management 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 Professional is a preferred qualification provider for the MFAA. Please review the educational requirements on the FBAA and MFAA websites for further information.

This course comprises three subjects with the option to study an introductory subject, Introduction to Finance Principles (IFP)*. Individuals with six (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, please see the subject outlines below:

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

For individuals who’ve previously completed the FNS40820 or FNS40821 Certificate IV in Finance and Mortgage Broking, units of competency may be recognised though credit transfer and count towards the first subject of the Diploma.

For individuals who’ve previously completed the FNS40815  Certificate IV in Finance and Mortgage Broking, units of competency may be recognised in combination with a Gap Module or RPL and count towards the first subject of the Diploma.

Please refer to the Enrolment information section of this page for further details.

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 FNS50320 Diploma of Finance and Mortgage Broking Management 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 clients
• 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
• Apply ethical principles to decision making and to act in line with ethical principles

DFMB3

• 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

15 units of competency are awarded for the successful completion of the FNS50320 Diploma of Finance and Mortgage Broking Management; 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, please see the subject outlines in the ‘Course overview’ tab.

Fees

There are four (4) enrolment options:

• 1. FNS50320 Diploma of Finance and Mortgage Broking Management: $680 (GST exempt). Enrolment directly into the FNS50320 Diploma of Finance and Mortgage Broking Management.
  2. FNS50320 Diploma of Finance and Mortgage Broking Management + IFP: $680 (GST exempt). Enrolment directly into the FNS50320 Diploma of Finance and Mortgage Broking Management with Introduction to Finance Principles (IFP) subject.
  3. FNS50320 Diploma of Finance and Mortgage Broking Management – Upgrade: $340 (GST exempt). With completion of FNS40820 or FNS40821 Certificate IV in Finance and Mortgage Broking, receive credit transfer for Subject 1 of the Diploma.
  4. FNS50320 Diploma of Finance and Mortgage Broking Management – Upgrade Gap Module/RPL: $340 (GST exempt). With completion of FNS40815 Certificate IV in Finance and Mortgage Broking, choose either a six (6)-week gap module or RPL to provide recognition for Subject 1 of the Diploma.

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 FNS50320 Diploma of Finance and Mortgage Broking Management, 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 demonstrated’ in one or more assessment items, then an additional four (4) weeks will be granted, provided all assessment tasks have been attempted during the initial enrolment period. There’s no fee for this extension.

This means 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 subject breakdown for this course is below:

The amount of training for this course may be up to 20 hours for DIPMB1 & DIPMB2 and 15 hours per week for IFP and DIPMB3. 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 five (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 the industry would need more time to review industry websites 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.

(Note: if individuals complete the 6-week DIPMB1 Gap Module instead of the full 12-week DIPMB1 subject, the amount of training is 15 hours per week, with 5 hours per week of unsupervised learning)

If an individual applies for extensions beyond the maximum 54-week completion timeframe or is granted special consideration, the maximum period of time to complete this qualification is two years from the qualification activation date.  If enrolling in single subjects with the intention of completing a qualification, the two-year timeframe is calculated from the initial activation date of DIPMB1.

Additional study-related fees apply to formal extensions and re-enrolments. Please refer to the Vocational Education Fees schedule found here.

Please also refer to our Vocational Education and Training (VET) Enrolment Terms and Conditions here or our Student Handbook here for important information on:

• • Subject activation and completion timeframes
  • Extensions
  • Subject re-enrolment

Entry requirements

Education requirements

There are no entry requirements to enrol directly in the FNS50320 Diploma of Finance and Mortgage Broking Management.

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

If individuals have already completed a FNS40820 or FNS40821 Certificate IV in Finance and Mortgage Broking, then they won’t be required to complete Introduction to Finance Principles (IFP). Their units of competency may be recognised though credit transfer as the first subject of the Diploma (evidence of completion must be provided if not studied through Kaplan Professional).

If individuals have already completed a FNS40815 Certificate IV in Finance and Mortgage Broking, then they won’t be required to complete Introduction to Finance Principles (IFP). Their units of competency may be recognised in combination with a Gap Module or RPL as the first subject of the Diploma (evidence of completion must be provided if not studied through Kaplan Professional).

Individuals are required to be aged 18 years or older to enrol in this course.

Individuals who are in Australia on a student visa are unable to enrol in this course. If you’re in Australia on a visa and wish to enrol, you need to ensure you’re enrolling in accordance with the study conditions of your visa.

Language, Literacy and Numeracy (LLN) requirements

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. In addition, 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 mail@kaplan.edu.au.

Computing technology and skills requirements

In order to complete your studies with Kaplan Professional, you’re assumed to have the following skills and access relating to technology.

Enrolment information

Enrolment

Individuals may enrol into the FNS50320 Diploma of Finance and Mortgage Broking Management at any time and begin studying immediately on enrolment.

On enrolment, please select one of the four (4) options below:

1. FNS50320 Diploma of Finance and Mortgage Broking Management: Enrolment directly in the FNS50320 Diploma of Finance and Mortgage Broking Management

2. FNS50320 Diploma of Finance and Mortgage Broking Management + IFP: Enrolment directly in the FNS50320 Diploma of Finance and Mortgage Broking Management with the Introduction to Finance Principles (IFP) subject

Instead of completing Subject 1 (DIPMB1) of FNS50320 Diploma of Finance Mortgage Broking Management, individuals who’ve completed previous relevant studies may enrol in one of the following:

3. FNS50320 Diploma of Finance and Mortgage Broking Management – Upgrade: with previous completion of FNS40820 or FNS40821 Certificate IV in Finance and Mortgage Broking
The units of competency from FNS40820 or FNS40821 Certificate IV in Finance and Mortgage Broking may be recognised though credit transfer as the first subject of the Diploma (evidence of completion must be provided if not studied through Kaplan Professional). Individuals will move directly on to Subject 2 (DIPMB2) of the Diploma.

4. FNS50320 Diploma of Finance and Mortgage Broking Management – Upgrade Gap Module/RPL: with previous completion of FNS40815 Certificate IV in Finance and Mortgage Broking.

Option 1: Gap module – Individuals complete a six (6)-week DIPMB1 Gap Module (DIPMB1-GM) with one (1) written assignment. Combined with their previous completion of the FNS40815 Certificate IV in Finance and Mortgage Broking (evidence must be provided if not studied through Kaplan Professional), they’ll be awarded the updated units of competency in DIPMB1 once they’ve been assessed as competent in DIPMB1-GM.

Option 2: Recognition of Prior Learning – Individuals may be able to obtain Recognition of Prior Learning (RPL) based on their previous completion of the FNS40815 Certificate IV in Finance and Mortgage Broking (evidence must be provided if not studied through Kaplan Professional) and work experience (evidence must be provided). If eligible, they’ll be awarded the units of competency in DIPMB1 once they’ve been assessed as competent
 

After both options 3 and 4 above, individuals then move directly on to Subject 2 (DIPMB2) of the Diploma.

Enrol now >

Progression

It is recommended individuals complete the FNS50320 Diploma of Finance and Mortgage Broking Management 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 (DFMB2)
  4. Business Management Skills (DIPMB3)

Delivery

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

You’ll receive login details to KapLearn on enrolment. When you log into KapLearn, you’re able to access the subject notes, assessments and additional learning materials. This includes media, case studies, practice activities and your online tutor.

Assessments are accessed and submitted through KapLearn.

Corporate clients should contact our Corporate Solutions team 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’ve already met the requirements of the subject through these other means.

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

To find out if they’re eligible for RPL, individuals should refer to our Credit Transfer and Recognition of Prior Learning (RPL) 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’re 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

You can sit your exam while being supervised in your workplace or with online supervision via Zoom at a suitable location.

Click here for more information about Kaplan Professional exams.

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 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 Professional 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 Professional’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, please visit the CPD page for more information. Alternatively, 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 doesn’t go as planned and they need extra support.

Terms and conditions

Click here to access our terms and conditions.

Refund policy

Access our refund policy