AFA News 12 May 2022. On 19 April 2022 we held a webinar with Dr Katherine Hunt which was particularly aimed at helping existing advisers who are planning to sit the exam before 30 September 2022.
Dr Katherine Hunt is a former financial adviser and lecturer at Griffith University on the Professionalism and Ethics subject.
According to ASIC, there are 882 advisers who have qualified for the exam extension to 30 September 2022.
We appreciate that some existing advisers are disillusioned with the exam and this webinar was designed to provide guidance on how to approach exam questions and shed light on a different way to break down a question and provide encouragement and a reminder that you have the knowledge you need to pass the exam.
Advisers intuitively know the exam content, and Dr Katherine Hunt shares how to break down an exam question and get to the crux of what is being asked.
She provided practical techniques and examples on how to think about exam questions, be it multiple choice or short answers, and how to approach each question, giving advisers the best chance to succeed.
One of Dr Katherine Hunt’s key takeouts for approaching the exam question is:
Think like ASIC – who focus on consumer protection and process.
She also high-lighted some key areas that is important to know off by heart:
- The 12 Code of Ethics standards – know each standard inside out
- The five Code of Ethics values
- Conflict of interest – how to explain a conflict of interest
- Best Interest Duty – run through the safe harbour steps you already follow with each client
- Consent – think about how consent applies to different cohorts.
Dr Hunt also discussed applying for reasonable adjustments and seeking extra time, as outlined in the ACER/ASIC Candidate Information Booklet.
Click here for the latest ACER/ASIC candidate information booklet and refer to reasonable adjustments.
Finally, practice answering questions using the described process.
Click here for the recording of Dr Katherine Hunt’s webinar
Click here for – The Ethics Centre – Everyday Ethics for financial advisers – A guide for the Ethical Professional.
For any questions on the exam, please email campusafa@afa.asn.au
Issued 12.05.2022. AFA Policy & Education Update
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