Recent Exam 2026-2027 Actual Complete Real Exam
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what are the 6 reasons someone is classes as a wholesale
client - ANSWER product value > $500K
income over $250K for 2 financial years
>$2.5M in assets
professional investor
business with >100
employees
sophisticated investor
what are the 7 obligations with a AFSL? - ANSWER -
licensing obligation financial product advice and dealing
disclosure
training of financial product
advisors organisational
competency dispute
resolution
breach reporting
, what are the 3 obligations of a AFSL that will impact you the
most in your role -
ANSWER -training of financial
product advisors
breach
reporting
product advise and
dealings
2012 future of financial advice reforms introduced what 5
changes - ANSWER conflicted remuneration best interest duty
scaled advice fees disclosure
enhanced powers for ASIC
National consumer credit protection act 2009 is regulated by
who? - ANSWER -
ASIC
what does the NCA stand for? - ANSWER -national credit act
What does the NCC stand for? - ANSWER -National credit code
which regulator administers and enforces the banking act 1959
and the APRA
act 1998? - ANSWER -
APRA
What are the main functions of APRA? - ANSWER -1. requires
institutions to