These Terms and Conditions apply to short course enrolment in Tier 2 programs
Tier 2 Program Terms and Conditions v1.0 2018
1. Product Description
a. Tier 2 is a training product that addresses specific units of competency that have been determined as meeting the ASIC Regulatory Guide RG146 Training of Financial Product Adviser obligations; and that fall within different qualifications.
b. Tier 2 requires online access to complete knowledge quizzes; written assessment completion; and practical skills activities e.g. role plays, that may require workplace verification of competency.
c. Students use personal logins to log in online to the College Webclass platform.
d. When undertaking Tier 2 quizzes students access a viewable PDF file and answer between 10 and 40 multiple choice/short answer questions for each subject.
e. When undertaking the written assessment completion the student will download and complete a word document and upload that document onto Webclass.
f. Students may require a workplace supervisor who has observed them in the workplace undertaking advice activities or simulations, to provide a signed checklist confirming the observance of skills and knowledge.
g. The College monitors a students’ progress, and will proactively contact the student to offer assistance and help.
2. Product Content and ASIC RG146 Requirements
a. ASIC Regulatory Guide 146 outlines the training obligations for various “types” of financial product and advice combinations.
It is the licensee’s legal obligation to determine the Tier 2 training that is appropriate for the adviser’s role.
b. The College has developed, using reasonable endeavor, Tier 2 Programs to address the specific requirements of the stated units of competency and, in addition, the ASIC Regulatory Guide 146 requirements.
c. A range of Tier 2 product versions are offered:
For Retail Financial Services Staff: Units FNSASIC301 FNSASIC302
Tier 2 – Basic Deposit Products and Non-cash Payment Facilities
Tier 2 – General Insurance
For Insurance staff:
General Advice in General Insurance: FNSASIC304
General Insurance: Personal and General Advice: FNSASIC304 FNSASIC305
d. It is the obligation of the client to determine that the program/s selected and content meet the specific training and compliance needs of its staff.
The Client must advise the College which program and which products under that program the student is to be assessed towards.
e. This program relates to units of competency and is considered “accredited” training. A Statement of Attainment is awarded upon successful completion.
a. Fees are payable on enrolment and apply for access to the program, regardless of subjects actually undertaken. Invoicing terms are net 14 days.
b. GST is not applicable on accredited training programs.
c. The enrolment term is 3 months for each student from the enrolment date of that student.
d. Once a student has been enrolled a student cannot be substituted and enrolments are not transferable.
e. Pricing for
i. Pricing for one enrolment without any other relationship with the College is $440 (no gst)
ii. Pricing for single enrolments with other relationships with the College is as published on the website Tier 2 page - currently $395 (no gst)
iii. Clients committing to enroll greater that 50 enrolments in any one calendar year may be offered a discounted price. If the client fails to meet the agreed enrolment numbers the standard price will be retrospectively applied and an invoice issued.
4. Student Enrolment and Progress and Certification
a. Clients are responsible for managing student enrolments. The College will send to the Client an email with an “Enrolment Link” that they can forward to staff they approve to enrol in each enrolment year.
b. The College will provide an online Student Reporting System. The Student Reporting System will show: who has enrolled and completed subjects, amongst other information.
Clients can nominate staff that they wish to receive online access to the Student Reporting System.
The Client is responsible for the overall progress of students. The College Student advisers are responsible for monitoring and assisting students to complete their studies in the required timeframe.
c. Students will at the end of their program be able to issued a PDF Statement of Attainment that shows the units of competency achieved and the products assessed.
5. Subject or Program Customisation
a. These terms and conditions apply to the standard Tier 2 programs which are not customisable. Clients may request a quote for a customised Tier 2 program.
b. A face to face option is also available and a quote can be requested.
c. Clients are invited to provide feedback on each subject.
6. Copyright and Intellectual Property
a. All materials are copyright of Australian College of Commerce and Management Pty Ltd. All rights are reserved.
b. The Client acknowledges that any unauthorised use, reproduction or disclosure of the Confidential Information by the Client may cause loss, damage or expense to the College.
7. Not Advice Disclaimer
The information or materials provided under this program are provided for educational or training purposes only. They do not constitute financial or other advice and cannot be relied on for providing advice.
8. Tier 2 Program Technical Specifications
Tier 2 programs run on the College internet platform Webclass. It is recommended that Clients safe list this website URL to ensure staff access and functionality
Webclass use requires:
- A contemporary browser e.g. Internet Explore v7 and above; Google Chrome; Firefox
- PDF reader (which may require a browser add-on)
Updated Jan 2018