FASEA Continuous Professional Development 2

Question 1

Under FASEA's CPD framework, which of the following activities would most likely qualify as structured CPD?

Accepted Answer

Attending an accredited professional development seminar

Answer

Structured CPD includes accredited seminars, courses, and formal learning programs with defined outcomes.

Question 2

A financial adviser completes 30 hours of CPD in a given year but none in the area of ethics. How does this affect their compliance?

Accepted Answer

They are non-compliant because ethics CPD is a mandatory component

Answer

FASEA requires a minimum number of hours specifically in ethics each year as a mandatory CPD category.

Question 3

Which FASEA CPD category specifically covers understanding the needs and circumstances of retail clients?

Accepted Answer

Client care and practice

Answer

The 'client care and practice' category addresses understanding client needs, communication, and service delivery.

Question 4

What is the minimum number of CPD hours a financial adviser must complete annually under FASEA requirements?

Accepted Answer

40 hours

Answer

FASEA requires financial advisers to complete a minimum of 40 CPD hours per year.

Question 5

An adviser wants to count hours spent preparing for the FASEA exam as CPD. Under FASEA guidelines, this would be:

Accepted Answer

Fully acceptable as structured CPD under technical competence

Answer

Preparation for the FASEA exam may be counted as structured CPD under appropriate categories such as technical competence.

(FASEA) Financial Adviser Standards and Ethics Authority Practice Test