Exemption Handbook. Professional Diploma in Financial Advice. (QFA Diploma)

Transcription

1 Exemption Handbook Professional Diploma in Financial Advice (QFA Diploma) 2017/2018

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3 Exemption Handbook Contents How to apply for an exemption... 3 Information on Exemptions.. 4 General Guidance Notes Table of Exemptions... 6 Exemptions Handbook for QFA 2 Academic Year 2017/2018

4 How to apply for Exemptions Procedure Step 1: Read the Exemption Handbook and guidelines to see what exemptions you are entitled to. An exemption will be counted as the minimum pass mark in that subject. Step 2: Complete the form by ticking the exemptions you are claiming. Do not forget to date and sign the form. Step 3: All Applications must be accompanied by a photocopy of the Parchment and a transcript of results (as required) i.e. a statement from the awarding institution showing the subjects taken in each year and the grade attained. Step 4: The Remittance Total is the number of exemptions (subjects and/or direct entry) applied for (ticked) multiplied by the exemption fee of 55 each. This is the amount payable to the Institute. Step 5: Payment for this amount may be made by Credit Card, Laser Card or Cheque. Where paying by cheque, please ensure you put your name (in block capitals) and membership number on the back of the cheque. Post-dated cheques are NOT accepted. Do not send cash. The Institute of Banking does not accept responsibility for cash sent in the post. If paying by credit or laser card, this is the amount that will be debited from your account. Please supply the relevant card information at the bottom of the Exemption Application Form. Exemption Application Fees are non-refundable. Please note that your application will be returned to you unprocessed, if the form is completed incorrectly i.e. exemptions sought not identified, fee not included (or incorrect fee included) or where parchments and or transcripts are not attached. Step 6: Return the forms and fees to: Exemptions Department, The Institute of Banking, 1 North Wall Quay, Dublin 1. Exemptions Handbook for QFA 5 Academic Year 2017/2018

5 General Information on Exemptions If applying on the basis of a qualification not listed please submit a detailed syllabus with your application. In any applicable programme a maximum of 50% of the modules may be exempted. If you are entitled to exemptions for prior qualifications (and part qualifications) from The Institute of Banking these are granted automatically. You do not need to apply for them but can register directly for the remaining modules/subjects of your chosen course. Details of these automatic module/subject exemptions are given in The Exemptions Guidelines and in the individual course descriptions in the School s prospectus. Please note this handbook is meant as a quick reference guide only. Qualifications from The Institute of Chartered Bankers (UK) which trades as the Institute of Financial Services School of Finance (IFS) Please note that if applying for an exemption from CeMAP/CeFA with a qualification from the IFS there is no exemption fee charged. Candidates must fill out the exemption form (which can be found at the end of this document and submit it with a copy of their qualification. General Guidance Notes You may study for the Diploma or Certificate in Financial Advice no matter what your age or educational background, and you may also avail of exemptions if you already hold a relevant professional qualification. In compliance with UCD regulations in relation to Approved Prior Learning (APL), the maximum Exemption guaranteed to any award is limited to 50% of the credit value of the sum of the credits attaining to the modules required to complete the award. For the Professional Diploma in Financial Advice, this is 6 x 5 (6 modules at 5 credits each) = 30 credits x 50% = 15 credits or 3 modules. For the Certificate in Financial Advice, this is 2 x 5 (2 modules at 5 credits each) 10 credits x 50% = 5 credits or 1 module. This is the maximum number of credits where the programme on which you are relying on for the exemption is at the same level as the Professional Diploma in Financial Advice Level 7 on the National Framework of Qualifications (Level 4 UK). Applicants for the QFA designation normally register for the Professional Diploma in Financial Advice in the first instance. However, applicants who hold certain qualifications (mainly overseas professional qualifications) register for the Bridge Programme to the QFA because they are eligible for exemptions from more than 3 modules and/or their qualifications are not at or above level 7 on the Irish National Framework of Qualifications (or equivalent). Tables of exemptions for the Diploma and Certificate in Financial Advice and for the Bridge Programme to the QFA and APA Designations are set out overleaf. Exemptions will not be added automatically to your record. A completed application form must be submitted to claim them, together with any fees which may be due. The exemptions for which you may be eligible are those available at the time of your application. An exemption will not be granted for a module that you have already failed by examination. A qualification will count for exemption purposes only if it is gained by examination. Exemptions Handbook for QFA 4 Academic Year 2017/2018

6 A qualification will be regarded as complete only if all its examination requirements have been met. The Institute of Banking and the QFA Board have made every effort to ensure that the exemptions listed in this handbook are correct at the time of its production, but reserves the right to alter them without notice. August 2017 Exemptions Handbook for QFA 5 Academic Year 2017/2018

7 Table of Exemptions Professional Diploma and Professional Certificate in Financial Advice 1 Achievement or Qualification Life Assurance LIA Foundation Course (LIA) Appropriate Test for the IIF Competency Scheme Diploma or Certificate of Insurance Practice (Life) (III) Certified of Insurance Practitioner (III) Accredited Product Adviser (Personal General Insurance) (IoB, LIA and III) Accredited Product Adviser (Commercial General Insurance) (IoB, LIA and III) Pensions Investment Loans Regulation Financial Planning Accredited Product Adviser (Private Medical Insurance) (IoB, LIA and III) Certificate in Mortgage Practice, Pre September 2006 (IoB) Certificate in Mortgage Practice, Post September 2006 (IoB) Mortgage Diploma Course (either old LIA Property & Mortgages or Mortgage Practice 1 and 2), Pre September 2006 (LIA) Mortgage Diploma Course, Post September 2006 (LIA) Certificate of Proficiency (Life) (III) Pensions Foundation Course (LIA / III / IIPM) Investment Advice Module of LIA Pensions or Fellowship Diploma (LIA) Specialist Diploma in Pensions and Retirement Planning (IoB) Registered Representative Irish Stock Exchange or Specialist Certificate in Stockbroking (IoB) 1 Where more than one module is ticked and the candidate is undertaking the Professional Certificate in Financial Advice, only one exemption will be applicable to the Professional Certificate award. However additional exemptions, where appropriate, subject to a maximum of three exemptions in total, may be applicable to the Professional Diploma award. Exemptions Handbook for QFA 6 Academic Year 2017/2018

8 Achievement or Qualification Professional Certificate in Asset Management (IoBCPF, LIA, ITI (awarded by UCD)) Professional Certificate in Compliance (ACOI / IoB / LIA / III) Professional Diploma in Compliance (ACOI / IoB / LIA / III) MSc in Investment, Treasury & Banking (Dublin City University) Chartered Financial Analyst Level 1 (CFA Institute) IIPM Certificate in Pensions, Investments & Insurance (National College of Ireland) IIPM Diploma in Pensions Management & Policy (National College of Ireland) Certificate in Personal Financial Planning (National College of Ireland) 2 Specified Function Award from the Certificate in Personal Financial Planning (National College of Ireland) 3 Life Assurance Pensions Investment Loans Regulation Financial Planning 2 Where the candidate is undertaking the Professional Certificate in Financial Advice, an exemption in Regulation will be applicable to the Professional Certificate award. Two further exemptions (i.e. three exemptions in total) will be applicable to the Professional Diploma Award. 3 Where the candidate is undertaking the Professional Certificate in Financial Advice, an exemption in Regulation will be applicable to the Professional Certificate award. Where the Specified Function Award is based on two subjects, one further exemption (i.e. two exemptions in total) will be applicable to the Professional Diploma Award. Where the Specified Function Award is based on three or more subjects, two further exemptions (i.e. three exemptions in total) will be applicable to the Professional Diploma Award. Exemptions Handbook for QFA 7 Academic Year 2017/2018

9 Achievement or Qualification Table of Exemptions Bridge Programme to the QFA and APA Designations Life Assurance Pensions Investment Loans Regulation Financial Planning Associate of the Life Insurance Association by diploma, ALIA(dip) (LIA) Fellow of the Life Insurance Association by diploma, FLIA(dip) (LIA) Certificate in Investment Advice Republic of Ireland (IoB) Certificate in Investment Planning Northern Ireland (IoB) Graduate Diploma in Financial Planning (IoBCPF, LIA, ITI (awarded by UCD)) Financial Planning Certificate or Certificate in Financial Planning (UK CII) Diploma in Financial Planning (UK CII) Diploma in Regulated Financial Planning (UK CII) Certificate in Financial Planning and Lifetime Mortgage Activities (UK CII) Certificate in Financial Planning and Long Term Care Insurance (UK CII) Certificate in Mortgage Advice (UK CII) Certificate for Financial Advisers (UK IFS) Diploma for Financial Advisers (UK IFS) Diploma in Financial Advice (UK IFS) Certificate in Mortgage Advice and Practice (UK IFS) Certificate in Lifetime Mortgages (UK IFS) Certificate in Investment Planning (UK CIOBS) Diploma in Investment Planning (UK CIOBS) Mortgage Advice and Practice Certificate (UK CIOBS) Exemptions Handbook for QFA 8 Academic Year 2017/2018

10 Achievement or Qualification Investment Advice Diploma, where qualification contains 3 modules including the private client advice module (UK CISI) Life Assurance Pensions Investment Loans Regulation Financial Planning Certified Financial Planner (FPSB) Chartered Financial Planner (UK CII) Associate or Fellow of the Chartered Insurance Institute (Life and Pensions route) (CII / III) Associate or Fellow of the Society of Actuaries in Ireland (SAI) Member, Associate or Fellow of the Irish Institute of Pension Managers (IIPM) Chartered Financial Analyst Level 1 and Level 2 (CFA Institute) Associate of the Society of Investment Analysts in Ireland (SIAI) Investment Management Certificate (CFA Society UK) Certificate in Investment Management (SIAI) Registered Person: Securities Representative (UK SFA) Certificate in Investment and Securities Level 3 : Unit 1 and 2 (UK Securities and Investment Institute) NASD Series 7 Examination (USA NASD) FINRA Series 7 Examination (USA FINRA) European Financial Adviser ( FA Austria, Belgium, Czech Republic, Denmark, France, Germany, Italy, Poland, Spain) European Financial Planner ( FP Belgium, Denmark, France, Italy, Poland, Spain) Exemptions Handbook for QFA 9 Academic Year 2017/2018