Tier 1 Insurance Broking

Tier 1 Insurance Broking

Tier 1 Insurance Broking Course

Overview

This module covers the knowledge and skills, required to meet ASIC RG146 Tier 1 Insurance Broking.

Designed for brokers handling SME business, the course is broken down into three (3) learning modules. Exemptions may apply to some of these modules if recognition of prior learning has been assessed through a pre-gap assessment test. The last two modules focus on the formative technical training required to operate as an insurance broker, including the importance of gathering information about the risk, risk exposure and risk assessment, generic product knowledge – traps and pitfalls of policy wordings, placement of risk.

This short course comprises nationally recognised units of competency which contribute to partial completion of FNS51220 Diploma of Insurance Broking.

Learning modules include:

  • ASIC Generic Knowledge Requirements
  • Fundamental Insurance Law
  • Arranging Insurance for a Trade or Business
  • Arranging Insurance for a Professional Person
  • Arranging Insurance for SME Business

Students who successfully complete the Tier 1 course and wish to move on to completing the full Diploma will have two remaining modules to complete the Diploma of Insurance Broking.

These modules are:

  • Complex Renewals
  • Claims (Handling)

For students dealing primarily with retail domestic lines (excluding personal accident and illness) we recommend our Tier 2 General Insurance Course.

Enquire Now

Assessment Process

The assessment process for this short course will include:

  • Gap assessment test- this test determines the student’s current level of knowledge and skills. The test allows us to determine gap training requirements and to give consideration to prior knowledge. (This is not required by students who have no experience in commercial lines)
  • Combination True/False, multiple choice and short answer questions.
  • Case Studies and Practical Assessments (students unable to complete practical assessments will be provided with additional case studies and additional methods of assessment as required). However, the course is more suited to those working in the industry or returning to the industry.
  • Trainer/Assessor or supervisor’s observation in the workplace (if required).

Units of Competency

This course covers the following nationally recognised units of competency:   This course provides for partial completion only of FNS51220 Diploma of Insurance Broking.

FNSIBK416 Deliver insurance broking services
FNSIBK518 Implement changes to insurance programs of broking clients
FNSIBK523 Prepare submissions for new insurance broking business
FNSINC412 Apply and maintain knowledge of financial products and services
FNSIBK415 Meet compliance requirements relating to insurance broking
FNSASICY513 Provide advice in Insurance Broking