What is Recognition of Prior Learning? Recognition of Prior Learning (RPL) is the process of providing credit for previously completed qualifications, work experience and life experience. Prior learning is evaluated and compared with the requirements of the Institute’s course modules to determine what credit/s may be granted. Applications can be made for RPL based on Relevant Professional Experience, RPL by Mutual Recognition and RPL by Exemptions. RPL Based on Relevant Professional Experience ANZIIF's skills recognition solution (RPL) is a way of recognising the value of the skills and information you have acquired through training, paid employment (at least five years in a relevant financial services organisation), voluntary positions and general life experience. If you can show that your skills and knowledge match those in a qualification, you save time and money and complete a module or qualification without having to repeat training and be assessed for competencies you already have by providing a portfolio of supporting evidence. A portfolio may include supervisor testimonials, proof of professional development, work-based documents and third party reports which demonstrate how your experience matches the competencies of Institute modules. Please note that RPL cannot be provided for modules which contain ASIC competencies for both Tier 1 and Tier 2 compliance. Certificate IV in Financial Services (NEW!) To celebrate the introduction of this new service the Institute is offering RPL for our Certificate IV in Financial Services, to all eligible candidates, as well as Associate Certified Insurance Professional membership for the special price of A$950 (NZ$1045). To find out if you are eligible for RPL towards our Certificate IV in Financial Services, select one of the options below to assess yourself using our Skills Recognition Tool. Diploma and Advanced Diploma Modules RPL Based on Professional Experience incurs a non-refundable administration fee of A$135 or NZ$150 plus a non-refundable assessment fee of A$410 or NZ$460 per module. Fees must be paid at the time of application. You have 10 working days from the time you are sent the Instructions and Evidence Guide, by email, to apply for a refund of the module assessment fee. The administration fee is non-refundable. RPL Mutual recognition If you have completed all or part of an Australian Qualifications Training Framework (AQTF) qualification awarded by another Registered Training Organisation and it can be shown to be the same or similar to an Institute module or qualification, you can receive credit into the Institute qualification through RPL Mutual Recognition. The easiest way to establish whether your previous studies are similar or identical to an Institute course is to establish if it contains the same national competencies. Competency standards are used to describe the skills and knowledge needed to perform effectively in the workplace and are listed on your official Statement of Attainment issued by your course provider (RTO). A list of the competencies covered by Institute modules is available on the Institute website for comparison. You should then submit an application form (RPL Mutual Recognition) with a certified copy of the Statement of Attainment. Some Institute modules are listed on the ASIC Training Register as being approved to confer ASIC RG 146 compliance competencies at the relevant level. RPL for these modules can only be granted if the AQTF course/module that you have completed is also listed on the ASIC Training Register as fulfilling relevant compliance requirements. RPL Mutual Recognition incurs a non-refundable administration fee of $60. RPL Exemptions If you have completed relevant studies in a non-AQTF course (both formal and informal), which you believe meet the requirements and competencies of an Institute module or qualification, you may be eligible to receive credit for it. Students who have successfully completed insurance, risk management or financial planning subjects may receive some credit into Institute courses through this method. To apply, submit an application form (RPL Exemptions) with a certified copy of your official statement of results and attach detailed subject information, such as the learning outcomes and content. Please note that exemptions for subjects studied outside Australia cannot be granted for Institute modules, which include the ASIC competencies. RPL Exemptions incurs a non-refundable administration fee of A$70 or NZ$75 plus a non-refundable assessment fee of A$245 or NZ$270 per module. Fees must be paid at the time of application. Further Information For further information on Recognition of Prior Learning, please contact Bronwyn Mills, Manager - Professional Accreditation on (+61 3) 9613 7240 or email bmills@theinstitute.com.au.
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