ETITO assessment

The following outlines the examination and assessment process a financial adviser can expect to undertake if they choose to use the ETITO assessment system. Once you have registered with ETITO you can download a  ‘Candidate Handbook’.

The examination

Examination availability

Examination sessions are now available to be booked through to the end of March 2011. More examination sessions can be opened to match demand.

If you are wanting to book in a large number of people and there are not enough seats currently available please call the ETITO helpdesk on 04 931 0007.

Examination locations

There are examination centres throughout New Zealand, to find the centre closest to you click here

Preparation:

Be realistic, plan, study, and know the subject well. Check the unit standard and read through the specific performance criteria contained in each Standard Set.

Sitting the examination:

Remember to bring with you the same identification that you used when you registered with ETITO. Note that you will not be permitted to sit your examination without photo identification. Arrive at least 15 minutes before the scheduled start time [30 minutes in the Auckland area]. If you arrive late you will be prevented from sitting the examination. Your examination fee will not be refunded. The exam can be structured with different answer forms, such as multi-choice, multi-select and short answer. You will be provided with an onscreen financial calculator and required papers for the exam. Questions will be answered on the computer screen.

After the examination:

After you’ve sat the examination, your examination will be automatically marked, and you will have access to the results and feedback on our website, through the ‘Registration and Booking’ log in. You will see if you have passed the examination, or not yet passed the examination. You will also get examination feedback. The feedback is about those areas where there were questions answered incorrectly in the examination, rather than those areas you answered correctly.

For the Standard Set B FAQs click here

Workplace assessment

When the examination has been passed, you can then progress to the workplace assessment phase of the assessment process. NOTE: For advisers who only need to be assessed against the Capstone Standard Sets [B and C] there is no examination component for Standard Set C.

[e] Portfolio

The purpose of the [e] portfolio of evidence is to use your existing documents to demonstrate your competence against the evidence requirements in the unit standards.

Details about what to include in your portfolio, and how to upload it into your ETITO account are itemised in the candidate pack you will receive upon booking for the workplace assessment.

The candidate pack outlines what evidence you need to compile for your [e] portfolio of evidence and submit to the assessor in order to demonstrate your competence in applying professional practice in your day-to-day work as a financial adviser.

Read the unit standards, read the candidate pack, and select evidence that shows your competence. There is a personal profile describing you, verifications by those that have seen your work, a declaration by you, information relating to your work with three clients, and some supplementary questions.

Examples of documents that you will need to supply for each client include:

• Signed disclosure statements.
• Facts find / needs analysis.
• Written recommendations / statements of advice / financial plans.
• Other documents based on how you document your application of the advice process appropriately.

You will naturally be concerned about security and privacy of the client information and any other materials you supply as evidence for assessment, the candidate guide contains instructions to ensure you maintain the privacy of your clients.

You may be able to gather and provide this [e] portfolio of evidence quickly. However, if you are preparing the [e] portfolio around your day-to-day work, it may take you up to six weeks of part-time preparation.

Once you have submitted your e-portfolio, you will prepare for the competency discussion.

Competency discussion

The purpose of the competency discussion component of the assessment is to capture further evidence needed to complete your overall assessment. This discussion, which is fully recorded, takes place between you and the assessor at a mutually agreed time. It isn’t necessary for this to be a face-to-face discussion and may be conducted via a telephone discussion.

You will need to tell the story of your work with the clients you have presented in the portfolio of evidence, and use this to demonstrate your understanding of the regulatory environment and your practice as a financial adviser. Overall you must demonstrate competent performance and sound judgement for the area of practice. The assessor won’t be running a question and answer session, but will help to facilitate the discussion so that you produce the information required to demonstrate you have met the standards.

The assessor will also be contacting your referees / verifiers and this will also be recorded. Please ensure your referees / verifiers are aware of this.

After assessment

From your point of view, after you have completed your examination[s] and your workplace assessment, the process is complete, unless you feel that a review or appeal is required which can be done at a cost.

For the Standard Set C FAQs click here