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08 February 2021
Closing date
12 March 2021
The Professional Certificate in Financial Advice is a must for all those pursuing a career in retail and business banking. It is the benchmark qualification for product advisers in retail financial services products in the Republic of Ireland.
If you are a product adviser, or wish to become one in the future, then the Professional Certificate in Financial Advice will enhance the breadth and depth of your knowledge to provide consumers with sound professional advice.
On successful completion of this programme and on attaining the recognised professional designation APA, you will be able to;
Provide competent financial product advice to consumers
Describe relevant regulation that is used in the provision of financial services and the impact it has in this environment
Use analytical skills to make recommendations to clients regarding a financial product
If you hold an IOB designation or a designation managed by IOB, CPD hours may be awarded on successful completion of this programme.
Holders of the Professional Certificate in Financial Advice are invited to apply for the Accredited Product Adviser (APA) designation (appropriate to the product module they have successfully completed) thereby meeting the Central Bank of Ireland’s Minimum Competency Code for those who wish to sell, advise on, or undertake specified functions for one or more of the following five categories of retail financial products:
Life assurance
Pensions
Savings and investments
Housing loans, home reversion agreements and associated insurances
Consumer credit agreements and associated insurances
Continued use of the APA designation is subject to meeting annual CPD requirements.
Online
The exam consists of 100 multiple choice questions.
Two hour exam at the end of the trimester.
When you successfully complete this programme you will be awarded a Professional Certificate in Financial Advice (level 7) from UCD and will be invited to the relevant designation.
€330 per module plus an annual study fee of €50
Caitriona McCarthy - Programme Manager
The minimum second level educational requirements for entry to the Professional Certificate in Financial Advice are as follows;
Five passes in the Leaving Certificate, including English and Mathematics
Five O Level/GCSE passes, including English Language and Mathematics
IOB will also consider applications on a mature candidate basis from applicants who are 23 years of age before the date of their application for admission to the programme.
You must be a current member of IOB, or become a member, to undertake this programme.
In this programme you study one core module and one optional module:
Core:
(NFQ Level 7, 5 ECTS)
Identify the different forms of Regulation, relating to financial service providers, and the main regulatory bodies in Ireland and their functions. Discuss the range of regulatory rules that apply to intermediaries and/or product providers in their dealings with clients. Describe the impact of legislation relating to consumer protection, money laundering, distance marketing, data protection & privacy, Investor compensation, unfair terms in consumer contracts and tax evasion. Explain the functions and powers of the Financial Services Ombudsman and the Pension Ombudsman.
Optional (choose 1):
(NFQ Level 7, 5 ECTS)
Discuss the operation of the financial services markets and the impact of government economic and monetary policy on Investments. Describe the features, benefits, limitations and risks associated with the different classes of investment assets available within the Industry. Identify and discuss the basic investment principals. Demonstrate the knowledge and understanding of investments required to effectively advise clients.
(NFQ Level 7, 5 ECTS) Describe the main life assurance needs of the consumer at all life stages. Explain the main features, benefits, limitations and risks of different types of life protection policies. Detail the issues involved in starting a policy and in paying out benefits. Identify the constituents in a valid will and know the impact of the Succession Act. Discuss financial mathematics principles that underpin personal life assurance and pension products, and perform related calculations.
(NFQ Level 7, 5 ECTS)
Describe the personal financial need for a loan, and the different ways in which such a need can be met by different types of loans and consumer credit on offer. Explain the features, benefits, limitations, security requirements and taxation treatment of consumer loans and credit arrangements, and their associated insurances. Discuss and demonstrate the impact of regulation on the provision of housing loans and different forms of consumer credit. Detail the steps and documentation involved in obtaining a housing loan and evaluate and recommend an appropriate housing loan option from those on offer. Identify the issues and processes involved in debt restructuring and equity release and describe the process and protocols to be adopted for the recovery of loan arrears.
(NFQ Level 7, 5 ECTS)
Explain the need for retirement provision. Describe the taxation, legislation and regulatory framework for pensions. Identify the features, benefits and risks of pension product options available to clients. Display the skills and competencies required to effectively advise clients in all areas of Pensions.