Exam focus
Professional year, continuing professional development, and ethical obligations for relevant-provider readiness.
Who this helps
- - Provisional relevant providers
- - Supervisors of trainee advisers
- - Relevant providers managing CPD
- - Compliance teams maintaining adviser files
Why this matters
- - ASIC's professional standards overview includes professional year requirements for persons training to become relevant providers.
- - ASIC lists CPD and compliance with the Financial Planners and Advisers Code of Ethics as parts of the professional standards framework.
- - These records are ongoing adviser-evidence items, not one-off exam booking notes.
Study map
Training year control
- - Map the person's trainee status, supervisor, permitted activities, exam timing, quarter-stage assumptions, and client-facing restrictions.
- - Keep professional year records aligned with the planned authorisation and FAR record.
Ongoing standards file
- - Maintain CPD category evidence, Code of Ethics acknowledgement, conduct issues, supervision reviews, complaints, and adviser-profile updates.
- - Review whether tax financial advice services or product-scope changes add extra CPD or evidence questions.
Licensing tie-in
- - Professional year and CPD evidence support the individual adviser route but do not authorise a firm to provide financial services.
- - Licensees should connect training-year controls to advice file review, product permissions, client type, and register maintenance.
- - A person may still need authorised representative, employee/director representative, or responsible manager analysis depending on the role.
Booking and sponsorship
- - Use ASIC professional standards pages to verify current professional year, CPD, and Code of Ethics context.
- - Use ASIC's financial adviser exam page for exam timing and resources before quarter-stage assumptions are made.
- - Use FAR appointment and registration pages before the person starts relevant provider activity.
Verify before studying
- - Whether the person is still training, already a relevant provider, or outside the relevant-provider framework.
- - Whether the person has passed the exam before the required point in the professional year route.
- - Whether CPD records match current advice scope, tax financial advice services, supervision, and FAR details.
Common mistakes
- - Leaving professional year records outside the adviser evidence file.
- - Treating annual CPD as a generic HR training log rather than a licensing-control item.
- - Forgetting the Code of Ethics when mapping advice file quality and conduct issues.
- - Using professional year evidence to fill gaps in AFSL responsible manager competence.
Disclaimer
Information on LicenseCompare is for general educational purposes only and does not constitute legal, regulatory, financial, tax, investment, or professional advice. Licensing requirements depend on facts and change over time. Always consult official regulator materials and qualified professional advisers.