Like all Class of Business training, this module provides you with an overview of the main role players in the financial services sector, as well as an understanding of the regulatory landscape that governs the financial services sector.  It also specifically builds your knowledge of the legislation relevant to long-term insurance products and the tax implications of these products. This knowledge is essential when assessing different product or benefit options and advising clients about long-term insurance products.

What content is covered?

This module covers typical fee structures, charges and other cost-related risks associated with investing, purchasing or transacting with these products. You will also learn how economic and environmental factors impact these investments. Long-term investment policies, retail pension benefits, pension fund benefits, collective investment schemes and hedge funds are also covered, along with personal financial planning and typical client financial needs. Once you have completed this course, you will be able to:

• identify the main market participants in the financial services industry, including their legal structure.
• demonstrate understanding of general legislation and codes of conduct applicable to the financial services industry.
• describe the general characteristics, terms and features of long-term insurance products.
• describe the typical fee structures, charges and other costs associated with long-term insurance products.
• describe the general risks associated with investing, purchasing or transacting in long-term insurance products.
• describe the impact on specific long-term insurance products of applicable economic and environmental factors, such as economic business cycles, inflation, monetary and fiscal policies, interest rates and exchange rates.
• describe the range of asset classes typically used in the construction of investment portfolios, as well as the relevant terminology, features, and tax implications.
• describe the general risks associated with investing, purchasing or transacting in the different asset classes.
• describe the principles, options and strategies applicable to effective combinations of asset classes to suit the needs of different investors.
• explain the legislative and tax implications applicable to specific sub-categories of long-term insurance products.
• assess the appropriateness of specific sub-categories of long-term insurance products for specific client needs.
• describe the options and strategies applicable to specific sub-categories of long-term insurance products to provide effective combinations of cover or savings to suit the needs of different investors.
• identify the general financial needs of clients from a risk and investment perspective.

The knowledge taught in this module is essential for professionals in the long-term insurance industry, to enable them to assess investment options, select the underlying assets in an investment portfolio, and provide advice to clients on investment products.

What is involved?

You can register at any time. Once your registration is complete, you will be given access to Moonstone’s learning management system, where you will be able to access the study guide material or download it as a series of PDFs. The content consists of comprehensive notes, including helpful charts and illustrations, all prepared by industry experts. The detailed examples ensure that you build practical knowledge and skills. The system will offer you regular quizzes to assist you in testing your knowledge, so that by the end of the module you will feel confident to pass the final assessment, which you will also do online on Moonstone’s system. At that point, you will receive a digital certificate of completion to prove that you have achieved the class of business fit and proper requirement.

If you work for 45 minutes to an hour each day, you can expect one module to take you two or three weeks. Of course, this will vary based on experience and familiarity with the material. You will have access to the learning management system for six months from the date of registration.