FINANCIAL SERVICES
WELCOME TO OPEN POLYTECHNIC Whether you are looking to improve your career prospects or learn something new, we can help you achieve your goal. We specialise in open learning – learning that gives you more freedom to decide what you study and where you study. Our courses are specifically designed for delivery by distance, which means you can fit your study around your life. And just because you are learning by distance, this doesn’t mean you have to do it alone. You will have access to your tutors and lecturers by email or phone. It is our goal to make sure that you enjoy your study and that you succeed. So welcome to learning for today’s world, and congratulations on taking up the challenge of further education.
Please note that information contained in this brochure may be subject to change without notice.
NATIONAL CERTIFICATE IN FINANCIAL SERVICES Qualification code: NC1476 Level: 5 Credits: 50 This certificate is a nationally recognised qualification for people in the financial services sector who are working or seeking work as financial advisers, and who specialise in investment advice, insurance advice or residential property lending advice. The National Certificate in Financial Services will give you the knowledge and skills you need to meet the legal requirements to provide financial advice. Further information on whether these legal requirements apply to you can be found at financialadvisercode.govt.nz We also recommend you visit The Skills Organisation website, skills.org.nz to find out more about the competency requirements. The Skills Organisation manages training for the financial services industry. Skills you will learn Once you have completed the certificate you will be able to demonstrate the knowledge and application of: · professional practice, requirements of regulations, professional practice standards and operational guidelines as a financial adviser · an understanding of the stages of financial advice and products · an understanding of the relationships between economic environments and the financial market · the steps in giving financial advice. In addition, depending on which elective set you study, you will be able to demonstrate competence in: · the principles of investment, investment risk and return, investment products and investment advice OR · the principles of risk, risk management and underwriting, and specialist knowledge in at least one area of insurance OR · the principles of lending, home loan products, the loan application process, and external factors that impact on the residential property market. 1
Structure This qualification is delivered in five sets of unit standards with each set covering a different area of study. To complete the qualification you need to complete at least 50 credits. Sets A, B and C are compulsory and provide 38 credits. The remaining credits must come from one specialist elective set, either D: Investment, E: Insurance or E: Residential Property Lending. COURSE NUMBER
COURSE/UNIT STANDARD
LEVEL CREDIT DELIVERY
COMPULSORY SETS SET A: CORE KNOWLEDGE
24755
Demonstrate knowledge of the industry and apply professional practice in a financial services organisation.
4
5
Online
25642
Demonstrate understanding of relationships between economic environments, financial markets and their participants.
5
5
25643
Demonstrate understanding of the stages of financial advice and the products used by financial advisers.
5
5
SET B: CAPSTONE KNOWLEDGE OF FINANCIAL ADVISER LEGISLATION AND THE CODE
26360
2
Demonstrate understanding of the legislative framework for financial advisers.
5
5
COURSE NUMBER
COURSE/UNIT STANDARD
LEVEL CREDIT DELIVERY
SET C: CAPSTONE PROFESSIONAL PRACTICE (ASSESSED BY THE SKILLS ORGANISATION OR DELEGATED ASSESSMENT ORGANISATION (DAO)
FIN01
Professional Practice and the Financial Advice Process.
5
18
Online and print
This course contains the following four unit standards: 25650 Demonstrate the steps in the financial advice process relating to client relationships and gathering information. 25651 Demonstrate the steps in the financial advice process relating to the development and presentation of recommendations. 25652 Demonstrate the steps in the financial advice process relating to the implementation and review process. 25653 Apply requirements of regulations, professional practice standards, and operational guidelines as a financial adviser. ELECTIVE SETS – CHOOSE ONE SET D: INVESTMENT
25648*
Demonstrate understanding of investment concepts used by financial advisers.
5
10
25649
Apply principles of investment advice.
5
7
Online
5
5
Online
SET E: INSURANCE
25644*
Demonstrate understanding of insurance structures, principles, products; and risk principles used by financial advisers.
* Please see next page for details.
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COURSE NUMBER
COURSE/UNIT STANDARD
LEVEL CREDIT DELIVERY
PLUS TWO OF:
25645
Demonstrate understanding of the life insurance market and life insurance.
5
5
Online
25646
Demonstrate understanding of the health insurance market and health insurance.
5
5
Online
25647
Demonstrate understanding of the fire and general insurance market and fire and general insurance.
5
5
Online
SET E: RESIDENTIAL PROPERTY LENDING
26286*
Demonstrate knowledge of the mortgage industry, lending principles, home loan products and apply the application process.
4
5
Online
26287
Demonstrate understanding of the residential property market and residential property lending as a financial adviser.
5
8
Online
* This course is a prerequisite for other unit standards in the same elective set. You must complete this unit standard before completing any other unit standards in the same elective set.
Delivery definition Print = Some learning materials are provided in paper format and some are provided online. Online = All learning materials are provided online. 4
General information Assessment Sets A, D and E You will be assessed by the Open Polytechnic through paper based and/or online tests. Sets B and C Although the Open Polytechnic provides learning materials for the courses, these sets are assessed either by The Skills Organisation or a delegated assessment organisation. Please visit skills.org.nz for more information and to register for assessment. Note: Assessment for unit standards in sets B and C will incur an additional fee payable directly to The Skills Organisation or a delegated assessment organisation.
Level of study Courses and qualifications registered on the National Qualifications Framework are assigned Levels which show you what level of study will be required for that course. For example, courses set at Levels 1 to 4 are the equivalent of senior secondary school and basic trades training. Level 5 is about the equivalent of first year university study. Study time You should allow about 10 hours of study per credit; however, if you have extensive knowledge of, or experience in the financial services sector, you may need less study time. Computer requirements To enrol in this qualification you will need access to a computer with internet access. Enrolment This qualification is open for admission throughout the year and each course officially starts on the first Monday of the month you choose for enrolment. You need to enrol online from our website. Visit openpolytechnic.ac.nz/howtoenrol for more information. You will be advised if additional information is needed to progress your application, and you can usually complete this online during the application process. When your enrolment is confirmed, we will send you a letter with your course start and end dates. 5
This qualification is open to New Zealand and international students (subject to approval) living in New Zealand. It is not open to international students living overseas. If you are a New Zealand student living overseas, please contact us to discuss your enrolment options. International students International students who are residing in New Zealand and studying part-time must have a verified work permit/visa. Please note the expiry date must be after the end date of your course. You will also need one of the following. 路 A Variation of Conditions allowing study at Open Polytechnic. 路 A letter of authorisation from your employer (on letterhead) confirming that you need to undertake this training as part of your job. International fees must be paid in full at the time of enrolment. Enrolment options There are two enrolment options for each course: the learning material and assessment option, or the assessment only option. Note that these options do not apply to: 路 Set B: Capstone Knowledge of Financial Adviser Legislation and the Code 路 Set C: Capstone Professional Practice. Learning material and assessment option If you choose this enrolment option you will be provided with the learning material you need to study and pass the assessments. In addition you will have access to our lecturers and Learning Centre for help and support, written study materials, and our library service. Assessment only option If you think you already have the knowledge needed to pass these courses you can enrol in the assessment only option. If you choose this option you will be given three attempts to pass the assessment. Fees Fees are displayed on each course and qualification page on our website. Visit openpolytechnic.ac.nz and browse our subjects and courses to find the fee information you need. 6
Loans, allowances and other funding Student loans and allowances are administered by StudyLink. We recommend that you apply for a student loan at least four weeks before the commencement of your study. We cannot confirm your enrolment or send your course materials until your fees have been paid. For more information, or to find out if you’re eligible for a student loan, visit studylink.govt.nz or give StudyLink a call on 0800 88 99 00. Financial assistance We have a fund to help students who are in financial need and have no other option for financial support. This fund is available for course fees and/or set textbooks. Conditions apply. Contact us for more information. See the last page of this brochure for contact details. Scholarships We also offer a range of scholarships to support students. Visit openpolytechnic.ac.nz/scholarships for more information. Set texts There are no set texts for these courses. Your lecturer You will have a lecturer for each course you study. They are there to help you through the course work, make sure you have understood the work and to check your progress. You can contact them on our freephone or by email, fax or letter. Their contact details will be in the information we send you when you enrol. My Open Polytechnic My Open Polytechnic is our online portal for our students. With My Open Polytechnic you can: · update your details · view your study information · track the status of your materials · access your assessment submission deadlines, marks and final grades for each course · check your account balance · access Online Campus and the library. 7
Once you’re enrolled, you can also keep track of your study information on the go with the My Open Polytechnic smartphone app called My OP. To download the app, search for ‘My OP’ on the App Store (Apple iPhone) or Google Play Store (Android smartphone). These come pre-installed on your smartphone. Online Campus Online Campus is the area of our website where you can: · access course materials for some courses · access and submit assessments · link to web pages specific to your course, including frequently asked questions (FAQ), assessment hints, web resources, staff information and sometimes online quizzes and tutorials · access the library. Student information You can find current enrolment and study information on our website including details of our systems and processes and the services we offer. Visit openpolytechnic.ac.nz/studywithus to find out more. Te Wähanga Whakapakari Ako (the Learning Centre) Te Wähanga Whakapakari Ako (the Learning Centre) can help you with a wide range of learning support services and resources. These include: · tips and techniques to help you succeed in online and distance learning · one-to-one consultations with a learning advisor (telephone or email) · StudyWise and ExamWise which are free online study and exam preparation workshops · disability services · a student mentoring programme. For more information visit openpolytechnic.ac.nz/learningsupport
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Te Kura Wänanga (the Mäori Office) Te Kura Wänanga (the Mäori Office) can help you with your learning and cultural needs in a kaupapa Mäori context. We use Mäori values and principles to enhance your learning journey. For more information visit openpolytechnic.ac.nz/maorisupport Library We provide a library service for students. There is no additional fee for using it. The library service provides: · online resources · guides on how to search for information · a distance lending service with free and fast delivery · information about study techniques. For more information about the library visit openpolytechnic.ac.nz/oplibrary New Zealand Qualifications Authority (NZQA) – Record of Achievement If you are already registered on the NZQA database, please provide us with your Record of Achievement number or your National Student Number when you apply to enrol online. If you are not registered, we will arrange this when you have finished your first unit standard. Any unit standards you gain through the year will be added to your record of achievement. You can access your Record of Achievement online or you can phone NZQA and ask for a copy. To find out more, visit the NZQA website at nzqa.govt.nz or call them on 04 463 3000. Further study For information on other courses and qualfications available at the Open Polytechnic visit our website or contact us. See the last page of this brochure for details.
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Contact us Website: openpolytechnic.ac.nz Freephone: 0508 650 200 Overseas phone: +64 4 913 5300 Email: customerservices@openpolytechnic.ac.nz Private Bag 31914 Lower Hutt 5040 New Zealand
OTHER USEFUL CONTACT DETAILS NZQA Website: nzqa.govt.nz Email: helpdesk@nzqa.govt.nz Phone: 04 463 3000 PO Box 160 Wellington 6140 New Zealand THE SKILLS ORGANISATION Website: skills.org.nz Email: helpdesk@skills.org.nz Phone: 04 931 0007
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Freephone 0508 650 200 Overseas phone +64 4 913 5300 openpolytechnic.ac.nz Private Bag 31914 路 Lower Hutt 5040 New Zealand