FBAA Accredited Member Checklist Last reviewed 04/05/2021
FBAA Accredited Member Checklist
This checklist is intended to assist you in compiling the supporting documents required for your
application to FBAA.
Membership Requirements
Further details
Payment of annual membership fee and
one off (non-refundable) application fee.
Certificate IV in Finance and Mortgage
Broking (FNS40815) or equivalent to
current Finance Industry standard.
Please contact us if you are unsure if your
qualification is equivalent to the current industry
standard.
FBAA Compliance Fundamentals Training.
This training is completed by all new to
industry brokers.
*Additional cost from training provider.
If you are a new industry Broker, you are
required to complete FBAA Compliance
Fundamentals Training, see below information
sheet for FBAA Compliance Fundamentals
Training.
If you have completed the MFAA initial
Compliance Pack training you may upload
evidence of this in place of the FBAA
Compliance Fundamentals Training, noting if
this certificate is more than 2yrs of age, you will
need to provide a copy of your most recent
AML/CTF training in addition to the MFAA Initial
Compliance Pack training certificate. These can
be uploaded as one document.
If you have only completed AML/CTF training
you will be required to complete the FBAA
Compliance Fundamentals Booster Training.,
see below information for FBAA Compliance
Fundamentals Booster Training.
Financial Abuse Awareness Education
Banking Code of Practice - This free
training is completed by all brokers.
To complete training, click here Financial Abuse
Awareness Education Banking Code of Practice
Ensure you select ‘free course’ as payment method
when enrolling.
National Police Check (must not be more
than 2 months old). Must be in full, legal
name.
To order your background checks click here, Police,
Credit & Bankruptcy Checks.
Full Credit Report including Bankruptcy
Report (must not be more than 1 month
old). Must be in full legal name.
To order your background checks click here, Police,
Credit & Bankruptcy Checks.
Current professional working resume.
This must outline your experience in credit activities
if you have more than 2 years’ experience. Where
you are new to industry a current professional
working resume is required.
Two (2) forms of identification with one (1)
being Australian Government.
E.g. Drivers Licence, Passport, Birth Certificate,
Medicare Card.
External Dispute Resolution AFCA
Certificate.
If you have applied for AFCA, and not yet received
your certificate, please provide evidence of
application by way of "confirmation" correspondence
from AFCA.
Note: If your AFCA membership is in a company or
business name you will be required to provide
evidence by way of current Company ASIC Extract
or Business Extract.
FBAA Accredited Member Checklist Last reviewed 04/05/2021
Current professional indemnity insurance
(PI) Certificate of Currency OR a letter of
intent from your employer or aggregator
that you will be covered under their group
policy.
You may be covered under your employers
Professional Indemnity Insurance - evidence
must be provided by way of a 'Certificate of
Currency' with you noted on the policy. If you
have not yet been added to the policy, please
provide a letter from your employer stating that
you will be added or are covered.
If you have chosen an Aggregator and they are
arranging this for you, please obtain a 'Letter of
Intent' from the Aggregator until PI has been
finalised. Once you receive the Professional
Indemnity Insurance Certificate of Currency a
copy must be provided to the FBAA for the
membership to be current.
You may wish to obtain your own PI policy -
please click here for information on the FBAA
Professional Indemnity Insurance facility.
Australian Credit Licence (ACL)
OR
Authorised Credit Representative Number
(CRN)
Credit Representative Number (CRN), please
confirm which of the following applies:
You are being appointed as a Credit
Representative (CRN) under an ACL or AFSL -
please obtain a Letter of Intent from
the Licensee until your CRN has been
appointed.
If you are PAYG to an ACL or AFSL and will be
practicing under their license, please provide a
letter from the license holder stating that you
are PAYG and are covered under their license.
If you are not dealing in consumer lending,
please provide a signed declaration stating that
you are not dealing in any consumer lending.
Please also list the type of business you are
conducting.
Australian Credit License (ACL):
Confirmation of status of ACL from ASIC. To obtain
the summary, click here, ASIC Connect Professional
Registers
Note:
ACL = Australian Credit License
AFSL = Australian Financial Services License
Confirmation of Mentoring Letter
completed by the Mentor. Only required if
you have LESS THAN 2 years’
experience.
To obtain the declaration please click here, Mentee
& Mentor Declaration.
References:
If you have More than 2 years’ experience
Four (4) referees
1 being the BDM of the Aggregator
you are joining.
3 Lender BDMs who can comment on
deals you have submitted within the
last 2yrs.
Please advise your references they will be contacted
via email for a reference.
FBAA Accredited Member Checklist Last reviewed 04/05/2021
OR
If you have Less than 2 years’ experience
Four (4) referees
1 being the BDM of the Aggregator
you are joining.
1 being your nominated Mentor.
2 being professional character
references.
Please advise your references they will be contacted
via email for a reference.
ASIC Extract
This is required where the applicant is a
company and must list all current directors
and shareholders.
May also be required if other relevant
documents such as PI and AFCA are in
company name.
The Company Extract must not be more than 1
week prior to the application date. To obtain the
$9.00 extract, please click here.
Note:
If the application is a company - all directors
directly engaged in the business must provide a
National Police Check (must be dated no more
than 2 months prior to application date,) (see
above to order police checks), and a letter on
company letterhead stating that you are the
nominated representative of the company
membership.
OR
If they are NOT directly engaged, then they
must provide a letter on company letterhead
stating they are NOT directly engaged in the
business and nominate you as the
representative of the company membership.
FBAA Accredited Member Checklist Last reviewed 04/05/2021
FBAA COMPLIANCE FUNDAMENTALS TRAINING
To be completed by all new to industry brokers:
To access the course, please click this link and select enrol now to proceed with your
enrolment. If you are already registered with AAMC, you should enter your email address
and password. If you have forgotten your password, select ‘forgotten password’ and it will
be sent to your email address.
To access the FBAA special discounted rate of $198.00 (normally $434.30), please use the
coupon code listed below.
Enter coupon code: FBAACFTP at the online checkout when finalising your enrolment. You
will only receive your tax invoice which indicates your enrolment was successful. Access
your course via the Members Area (top right-hand corner) at www.aamctraining.edu.au by
entering your email address and password. The course is contained under ‘course content
and assessments.
The Compliance Fundamentals training includes the following short courses:
FBAA Code of Conduct
Credit Fraud Awareness
Australian Privacy Act
FBAA - Anti-Money Laundering and Counter-Terrorism Financing Course (inc. AML3)
Each of the courses have multi choice exam questions. You have 5 attempts to gain an 80%
pass rate for each short course. Once you have been marked ‘satisfactory’ you will be able
to access your certificates under ‘results and certificates’.
For your convenience, instructions for accessing the course have been attached.
FBAA Accredited Member Checklist Last reviewed 04/05/2021
FBAA COMPLIANCE FUNDAMENTALS BOOSTER TRAINING
If you have already completed AML/CTF training, you are required to complete the
remaining modules:
FBAA Code of Conduct
Credit Fraud Awareness
Australian Privacy Act
To access the course, please click this link and select 'proceed with enrolment'. If you are
already registered with AAMC, you should enter your email address and password. If you
have forgotten your password, select ‘forgotten password’ and it will be sent to your email
address.
To access the FBAA special discounted rate of $119.00 (normally $158.60), please use the
coupon code listed below.
Enter coupon code: FBAABOOST at the online checkout when finalising your enrolment. You
will only receive your tax invoice which indicates your enrolment was successful. Access
your course via the Members Area (top right-hand corner) at www.aamctraining.edu.au by
entering your email address and password. The course is contained under ‘course content
and assessments.
Each of the courses have multi choice exam questions. You have 5 attempts to gain an 80%
pass rate for each short course. Once you have been marked ‘satisfactory’ you will be able
to access your certificates under ‘results and certificates’.
For your convenience, instructions for accessing the course have been attached.
FBAA Accredited Member Checklist Last reviewed 04/05/2021
Additional information:
Other Fees
Administration Fee (once off upon initial application and non-refundable) $110.00*
Reactivation Fee (for reinstating a lapsed membership) $110.00
Member Initiated Amendment Fee $110.00*
FBAA Compliance Fundamentals Training $198.00 (Request coupon code)
AML/CTF Refresher Course (required every two years) $49.50 (Request coupon code)
All fees are GST inclusive.
* The Administration Fee is non-refundable and is for processing your application, irrespective of the outcome.
If your application for membership is declined, the membership fee (not the administration fee) will be fully
refunded. A Member Initiated Fee will apply if the changes in an existing membership status results in a
member refund. In all other cases, membership, and other fees, are not refundable once paid.
All applications are assessed on an individual basis. You may be requested to provide additional
documentation to support your application. We will discuss this with you if required.
* If your qualification pre-dates the National Consumer Credit Protection Act (July 2010), you must provide
evidence of continuous industry specific experience or complete the current qualification. Contact FBAA if you
require further information.
Approval in less than 60 seconds
By submitting this originating or renewing membership application (both being individual defined as an
“Application”), you agree and understand each of the following:
The contents of the Application (including all uploaded documents) are true and correct.
You will provide any further requested documents that has not already been uploaded or information
within the required period specified.
The FBAA may contact external parties (such as police services, ASIC, aggregators, lenders, other
brokers, insurers, or business development managers) to corroborate the contents of this Application.
4.The cost of the Application consists of a membership fee and an administration fee. If the
Application is declined, only the membership fee will be refunded.
This Application includes information regarding other individuals (such as my referees and any
referrers). The FBAA will collect this information in order to contact them for the purpose of
considering your Application. You have obtained the consent (and can provide such consent to the
FBAA on request) of each of the individuals identified in this Application and understand that the
FBAA is processing my application on the basis that you have these consents.
Any membership provided is subject to you providing any further documents required and the
outcome of FBAA auditing of application (which may include requests for further information). The
FBAA is established for purposes including supporting, protecting, and advancing the character,
status, and interests of the Finance Broking profession.
In the event that you provide false, erroneous or misleading information, the directors of the FBAA
may resolve that you are not suitable for membership because providing false, erroneous or
misleading information is contrary to this purpose. In this event, the FBAA may cancel your
membership and will contact external parties to notify them that your membership has been
cancelled.