The Stockbrokers And Financial Advisers Association (SAFAA) offers Accredited Derivatives Adviser Level 1 (ADA1) and Accredited Derivatives Adviser Level 2 (ADA2) accreditations.
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 requirement set out in Part 2.4 of the ASIC Market Integrity Rules (ASX Markets) 2010 for the accreditation of advisers who advise on derivatives traded on the Australian Securities Exchange.
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)
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 RTO (WSU RTO), a division of Western Sydney University.
- Candidate enrols online/registration is received
- Candidate receives Confirmation email from SAFAA acknowledging enrolment, and that WSU RTO will send details the following Monday
- Candidate receives Welcome email from WSU RTO on Monday PM 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 RTO releases exam/closes exam at designated day/time
- The Candidate’s approved Supervisor supervises exam, and returns the Declaration by Exam Supervisor to WSU RTO
- 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).
Will participants receive any CPD points for completing the accreditation?
Yes. Candidates who successfully complete ADA1 accreditation will receive twenty (20) hours of CPD (Generic, Securities and/or Derivatives, and includes up to 8 hours of Compliance CPD).
Enrolment form (to be completed and returned by candidates who are not enrolling online via this website)
- Application to be a Supervisor (to be completed and returned by new Supervisors)
- Declaration by Online Exam Supervisor (to be completed and returned by Supervisors following supervision of a candidate’s online exam)
SAFAA/WSU RTO Exam Booking Form (to be completed and returned by candidate at least 2 days prior to them sitting their online exam)