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CIP Points CIP Points Allocation Table The CIP program requires that Institute members complete and record a minimum of 25 CIP points of professional development activities each calendar year (January to December). The Institute defines professional development (PD) as any activity that is educational and adds legitimate value to your knowledge and skills as a professional. The CIP Points Allocation Table defines how many CIP points you can earn for a wide range of activities. If the activity that you are looking for isn’t included in the table you can contact our Customer Service team on (61 3) 9613 7280 (New Zealand Freecall 0800 103 675) or customerservice@theinstitute.com.au and they will be able to assist you to ascertain what the CIP value of that PD activity is. | Activity | Credit Points | | Insurance and financial services training (including in-house and face to face) | 1 point per hour, or
3 points per half-day | | Attendance at industry seminars, conferences, workshops or in-house training | 1 point per hour, or
3 points per half-day
Maximum of 15 points for each activity/event | | Completion of online continuing education activities with self-assessment components | 1 point per hour
Maximum of 15 points for each activity event.
Time allocation based on estimated completion time set by service provider | | Attendance at breakfast/lunchtime/evening meetings or discussion groups | 1 point per event | | Reading of professional literature (including online) or viewing educational media* | 1 point per hour
Maximum of 7 points | | Successful completion of a relevant professional AQF award course module | 20 points per module | | Successful completion of ASIC PS146 Tier 1 compliance, where two AQF award course modules are completed, excluding by RPL | 40 points | | Successful completion of ASIC PS146 Tier 2 compliance, excluding by RPL | 10 points | | Preparation and publication of a learned article in a professional journal or online publication | 10 points per article | | Participation as a Mentor in the Institute’s CIP Mentor Program or another formal mentoring program within the insurance and financial services sector** | 1 point per hour | | Member of an insurance/financial services industry Board, Council or Committee** | 5 points per year, per Committee
Pro-rata points apply if not a member for a
full calendar year | | Preparation of notes for presentation* at discussion groups/seminar/conference etc** | 1 point per hour, or
3 points per half-day | | Presentation at seminar/training course/conference** etc | 2 points per event
(Repeat performances of the same material can not be counted) | Completing general professional development activities relevant to your career progression
(e.g. IT training courses, general management or public speaking programs) | 1 point per hour, or
3 points per half-day
Maximum of 15 points for each activity/event | For overseas members
Demonstrated compliance with CPD requirements made by industry regulators in the country where you are a resident. | 25 points | * A time log must be kept.
** A combined maximum of 15 CIP points can be claimed for this service-based activity per year.
The CIP points allocation is subject to regular review and may change from time to time. In the event of a change the Institute will honour the most generous point allocation applicable from either the current version, or the version immediately prior. |
Recording CIP points As a CIP, you are required to keep a record of all PD activities each year so that if you are selected in the random CIP Audit you will be able to show evidence that you have completed the required amount of PD activities. Evidence of PD can be shown through a record of the activities undertaken, along with documentation such as receipts, enrolment records, transcripts, employer reports, certificates, attendance lists, assessment statements, statutory declarations or detailed diary notes. These records should be kept for at least 12 months after the year in which the activity occurred. There are a number of ways you can track your PD activities, ranging from the Institute’s online Learning Portfolio, to maintaining a record sheet in Excel. Provided you capture all the information required for the CIP Audit, the manner in which you record your PD is up to you.
CIP Audit The Institute conducts a random audit of CIPs each year to ensure the PD requirements of CIP are being met. As a CIP member, if you are selected for audit the Institute will notify you and ask for a copy of your PD activity records for the previous calendar year (January to December) to verify that you have completed the required 25 CIP points. If you have recorded your PD through your “My Institute” online Learning Portfolio, you can inform the Institute and you need only provide verifying documents such as receipts, enrolment records, transcripts, certificates, assessment statements or statutory declarations. If you used another method to record your PD activities you need to include that documentation along with your verifying documents.
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