Accredited Derivatives Adviser Level 1 (ADA1)

The ASX, together with the Stockbrokers And Financial Advisers Association (SAFAA), are offering ADA 1 and ADA 2 Scholarships up until May 2019.  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 plus a complimentary one hour training session.

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

ASX / SAFAA Scholarship Details

  • The Scholarships are available to applicants between November 2018 and May 2019.
  • Successful Scholarship recipients will be enrolled in ADA 1 or ADA 2 (note: candidates cannot apply for both ADA 1 and ADA 2 in this Scholarship period).
  • Each Scholarship recipient will be enrolled in a complimentary training session. The training sessions are designed to assist Scholarship candidates understand derivative material and assist in passing assessments. The ADA 1 training sessions are 1.5 hours and the ADA 2 training sessions are 1 hour. Scholarship recipients will be contacted with dates/times for the training session once their application has been approved.
  • Successful completion of ADA 1 or ADA 2 is expected. Any subsequent re-sit costs to be covered by adviser.
  • All Scholarships are to be approved by ASX. Simply contact ASX or apply directly through 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.

ASX / SAFAA Scholarships enquires to Gillian Gilmore, Head of Education on email ggilmore@stockbrokers.org.au or telephone 02 8080 3200.

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

Click here to access the ADA 1 training webinar.

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

Learning outcomes

The subject content in the ADA 1 examines in detail the derivatives sector of the finance and investment industry and the range of market participants and product types. The characteristics and uses of various derivative products are considered in-depth in order to determine their suitability and application in a wealth creation strategy.   Also covered is the regulatory and taxation environments affecting the use of derivatives products.

Accredited Derivatives Adviser Level 1 (ADA1) 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 ADA1 level are allowed to advise on:

  • Taking options
  • Selling options to close out a taken position
  • Subscribing for and buying and selling warrants
  • Exercising warrants and options
  • Writing covered call options (i.e. where the client owns, or at the same time as writing the calls, buys the underlying shares and lodges those shares with ASX clear.)

SAFAA’s ADA1 is approved by the Australian Securities Investment Commission (ASIC).

RG146: This accreditation also meets the training requirements under ASIC Regulatory Guide RG146 in generic and specialist knowledge and skills components for Derivatives at a Tier 1 level.

Who should complete the accreditation?

The accreditation is developed for individuals who are financial advisers.

Is there any assumed pre-requisite knowledge?

There is no assumed knowledge for this accreditation.

Candidates may enrol in both ADA1 and ADA2 at the same time but must successfully complete ADA1 before enrolling in ADA2 separately. Note: 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)

Assessment details

1 x Assignment (80% pass mark)
1 x Online Exam (Closed Book, 60 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 for us by Western Sydney University The College RTO (The College), a division of Western Sydney University.  Please note: enrolments close at 3.00pm every Thursday Sydney time.

  • Candidate enrols online/registration is received
  • Candidate receives Confirmation email from SAFAA acknowledging enrolment, and that WSU The College will send details the following Friday
  • Candidate receives Welcome email from WSU The College on Friday with all accreditation information/materials
  • Candidate completes and returns Exam Booking Form to book in their exam day/time. This must be done at least 2 days prior to exam
  • WSU The College releases exam/closes exam at designated day/time
  • The Candidate’s approved Supervisor supervises exam, and returns the Declaration by Exam Supervisor to WSU The College
  • Candidate receives result (results are issued end of each day). Candidate receives Certificate (Certificates are issued end of each month, following receipt of Declaration by Exam Supervisor).

Is there any assumed pre-requisite knowledge?

There is no assumed knowledge for this accreditation.

Will participants receive any CPD points for completing the accreditation?

Yes.
20 Continuing Professional Development (CPD) hours may be claimed by candidates who have successfully completed this program. The 20 CPD hours may be allocated in the following FASEA CPD areas (note: only 20 hours may be claimed):

– Technical competence
– Regulatory compliance and consumer protection
– General

ADA Level 1

Non-Member: $390.00
Organisation Member: $380.00
Practitioner Member: $370.00

Enrol

ADA Level 1 Remark

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

Enrol

ADA Level 1 Resit

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

Enrol

Useful downloads

Enrolment form (to be completed and returned by candidates who are not enrolling online via this website)

Supervisor Guidelines

SAFAA/WSU The College Exam Booking Form (to be completed and returned by candidate at least 2 days prior to them sitting their online exam)

Summary of Assessment

Online Terms and Conditions

 

Enrolments close at 3.00pm every Thursday Sydney time.