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Tier 1 Training Standards

NIBA College Diploma Qualifications meet ASIC requirements

The College has received queries from members about the status of their Diploma or Tier 1 qualification and whether brokers with Diploma qualifications who give advice in retail products need to do additional Tier 2 training.

Please note that this is definitely not the case for those who have undertaken their studies with NIBA College.

Tier 2 training standards are for those who just provide Tier 2 advice on retail general insurance or basic deposit products. Most people do these in their Certificate III level studies. The Tier 1 standards cover the same ASIC knowledge and advisory skills requirements but are studied and assessed at the higher Diploma level.

Brokers who have undertaken a Diploma level qualification in general insurance broking with NIBA College have covered both the ASIC Tier 1 and Tier 2 requirements. There is no need for brokers who have attained their Diploma in Financial Services (Insurance Broking) or their Tier 1 Short Course to undertake further study in Tier 2 general insurance.

NIBA College takes care to ensure that our programs cover the right training at the right level to suit the requirements of ASIC and the broking sector in the most streamlined and effective way. If any member has a further query, please give us a call on 02 94594309.