Accredited Derivatives Adviser Level 2 (ADA2)

The ASX, together with the Stockbrokers and Financial Advisers Association (SAFAA), have sponsored ADA 1 and ADA 2 Scholarships.  Scholarships are designed to help advisers expand their knowledge and understanding of derivative products.  Each Scholarship is valued up to $400 and covers the full cost of the ADA 1 or ADA 2 enrolment.

Scholarship candidates must meet ASX / SAFAA Scholarship Eligibility Requirements – see below:

ASX / SAFAA Scholarship Details

  • The Scholarships are available on a case-by-case basis.
  • Successful Scholarship recipients will be enrolled in either ADA 1 or ADA 2 (note: candidates cannot apply for both ADA 1 and ADA 2 in this Scholarship period).
  • Any subsequent re-sit costs are to be covered by the applicant.
  • All Scholarships are to be approved by SAFAA.

ASX / SAFAA Scholarship Eligibility Requirements

Scholarship Applicants must be:

  • an employee or authorised representative of an ASX Market Participant; and
  • be ASIC RG 146 compliant; and
  • be actively advising clients in equities or derivatives (ADA 1 or ADA 2 – sign off from compliance manager or authorised person must be provided); and
  • are to provide, in writing, how they plan to include derivatives, where appropriate, in future advice to clients.

Click here for the ADA 1 and ADA 2 Scholarship application form (pdf).

The Stockbrokers and Financial Advisers Association (SAFAA) offers Accredited Derivatives Adviser Level 1 (ADA1) and Accredited Derivatives Adviser Level 2 (ADA2) accreditations.

Continuing Professional Development (CPD)

The ADA 2 Accreditation provides 20 FASEA CPD hours to candidates.  See breakdown for FASEA areas:

FASEA CPD Area
Technical  competence 10 hours
Regulatory compliance and consumer protection 5 hours
General 5 hours
Total Hours 20 hours

 

Regarding RG146 CPD, candidates may claim 20 hours of CPD in Generic, Securities and/or Derivatives, and including 8 hours of Compliance CPD for completing Accredited Derivatives Adviser – Level 2 (ADA 2).

 

Learning outcomes

Accredited Derivatives Adviser Level 2 (ADA2) complies with the requirements set out in Part 2.4 Retail client Adviser Accreditation of ASIC Market Integrity Rules (Securities Markets) 2017.

Advisers accredited at ADA2 level are allowed to advise on:

  • Writing options (other than for the purposes of closing out a taken position, or writing covered calls)
  • Taking or writing LEPOs.

Who should complete the accreditation?

The accreditation is developed for individuals who are financial advisers and who have completed ADA1.

Is there any assumed pre-requisite knowledge?

Attendees must successfully complete ADA1 before enrolling in ADA2.

Note: Candidates may complete ADA1 and ADA2 at the same time. However, they must complete ADA1 successfully before enrolling in ADA2 separately. Candidates have twelve (12) months to complete ADA1 and ADA2 when enrolling at the same time (not three (3) months as per single accreditation enrolments)

Please ensure that the course you intend to enrol in is one you are required to undertake and are committed to completing, as fees are non-refundable. Substitutes are welcome within the enrolment period.

Assessment details

1 x Online Exam (Closed Book, 50 questions, 2hrs + 15 min reading time, 80% pass mark)

Suggested study hours

Allow up to 150 hours

How does the accreditation process work?
Accreditations are administered by the Stockbrokers and Financial Advisers Association (SAFAA). Enrolments close at 3.00pm every Monday Sydney time.

  • Candidate enrols online/registration is received.
  • Candidate receives Welcome email from SAFAA on Tuesday with accreditation information/study materials.
  • Candidate completes and returns ‘Exam Booking Form’ to schedule their exam day/time. This must be done at least 3 days prior to exam.
  • SAFAA releases exam/closes exam at designated day/time.
  • The Candidate’s approved Supervisor supervises exam and returns the ‘Declaration by Online Exam Supervisor’ to SAFAA. Results will not be released until SAFAA has received the completed ‘Declaration by Online Exam Supervisor’.
  • Candidate receives result (results are released within 1 working day). Candidate receives Certificate (Certificates are issued end of each month).

Enrolment fees

$320 Individual Member
$330 Organisation Member
$340 Non‐Member

Accredited Derivatives Adviser Level 1 & 2 (ADA1 & ADA2):

$690 Individual Member
$710 Organisation Member
$730 Non‐Member

ADA Level 2

Non-Member: $340.00
Organisation Member: $330.00
Practitioner Member: $320.00

Enrol

ADA Level 2 Resit

Non-Member: $250.00
Organisation Member: $250.00
Practitioner Member: $250.00

Enrol

Useful downloads

Please go to each accreditation page to enrol directly online.

PDF Enrolment form

Supervisor Guidelines

SAFAA Exam Booking Form (to be completed and returned by candidate at least 3 days prior to them sitting their online exam)

Summary of Assessment

Enrolments close at 3.00pm every Monday Sydney time.