FASEA Continuous Professional Development 3

Question 1

Under FASEA CPD requirements, what must an adviser do if they fail to meet the minimum CPD hours in a given year?

Accepted Answer

They must report the shortfall to their licensee and create a remediation plan

Answer

Advisers who do not meet CPD requirements must report the shortfall to their licensee and take steps to remediate the gap.

Question 2

Which statement best describes 'unstructured CPD' under FASEA's framework?

Accepted Answer

Informal learning activities such as reading industry publications that can count toward CPD hours

Answer

Unstructured CPD includes informal learning like reading relevant publications and can count toward the annual CPD requirement up to specified limits.

Question 3

A financial adviser switches licensees mid-year. Who is responsible for verifying and recording CPD hours completed with the previous licensee?

Accepted Answer

The adviser must obtain CPD records from the previous licensee and provide them to the new licensee

Answer

Advisers are responsible for obtaining their CPD records from a previous licensee and providing them to the new licensee.

Question 4

Under FASEA's CPD standards, which of the following best describes the purpose of the 'professionalism and ethics' CPD category?

Accepted Answer

To develop advisers' understanding of ethical obligations and professional conduct

Answer

The professionalism and ethics category is designed to reinforce ethical obligations, standards of conduct, and professional values.

Question 5

How many hours of CPD per year must relate to the 'professionalism and ethics' category under FASEA requirements?

Accepted Answer

At least 5 hours

Answer

FASEA requires a minimum of 5 CPD hours per year in the professionalism and ethics category.

(FASEA) Financial Adviser Standards and Ethics Authority Practice Test

(FASEA) Financial Adviser Standards and Ethics Authority Practice Test

FASEA Continuous Professional Development 3