ETITO releases assessment pricing for advisers

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ETITO has released its pricing of assessments against the National Certificate in Financial Services (Financial Advice) (Level 5).  

Thursday, April 8th 2010, 12:49PM 2 Comments

by Jenha White

ETITO manager of strategy and corporate relations Michael Frampton says financial advisers will be charged at the time of booking their assessment with ETITO and if examination re-sits are necessary, they will be charged at the same rates.

ETITO expects to have its booking engine open for assessment reservations in April 2010.

The pricing is as follows:

• The Standard Set A assessment includes a supervised online examination which is $400 + GST as well as a workplace assessment.
• Standard Set B can only be assessed by ETITO and consists of an online examination which costs $275+ GST.
• Standard Set C can only be assessed by ETITO or a Delegated Assessment Organisation (DAO) and is assessed through a portfolio of evidence that is the subject of a competency interview between an adviser and an assessor which costs $950 + GST.
• Standard Set D is assessed through an online examination for $400 + GST as well as a workplace assessment.
• Standard Set E Insurance Advice includes two to three supervised online examinations which are $175 + GST per examination as well as a workplace assessment.
• Standard Set E Residential Property Lending is a supervised online examination costing $400 + GST as well as a workplace assessment.
• Integrated Workplace assessment which includes the workplace assessment necessary  to achieve Standard Sets A, C, D or E- insurance or E-Property costs $1295 + GST

Based on the integrated assessment model, an adviser seeking assessment against Standard Sets A, B, C, and D will encounter the following fees:

Standard Set B examination                                                                                       $275

Standard Set A examination                                                                                       $400

Standard Set D examination                                                                                       $400

Integrated Workplace Assessment for Standard Sets A, C and D                                     $1295

TOTAL                                                                                                                                                          $2370                                                                                                                                   

ETITO says the accredited training providers (Open Polytechnic, Adviserlink and Strategi) are able to provide training for all unit standards contained in Standard Sets A, B, C, D and E.  They are also able to provide assessment against Standard Sets A, D and E and may become a DAO and provide assessment against Standard Set C.  Accredited providers also determine their own charges independent of ETITO.

Frampton says ETITO's fees cover the direct and indirect costs of the administration of the examination and workplace assessment systems.

They also cover the maintenance of the examination question bank, maintenance of assessment resources over time and the recovery of ETITO's initial investment in the development of the assessment system over and above that which is funded by the Crown.

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

Tags: regulation

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