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 short-term and long-term deposits, including typical fee structures, charges, and other risks associated with investing, purchasing or transacting in these products. Furthermore, you will learn about the legislation affecting long- and short-term deposits, and their tax implications. This knowledge is essential when assessing the appropriateness of products within this class of business.

What content is covered?

Once you have completed this course, you will be able to:

• identify the main market participants in respect of long- and short-term products.
• identify the inter-relationship between long- and short-term deposits and other classes of business.
• demonstrate an understanding of financial services legislation, industry codes and codes of conduct applicable to long- and short-term deposit products.
• identify the general financial needs of clients.
• understand the terminology and describe features of long- and short-term deposit products.
• describe the typical fee structures, charges and other costs associated with long- and short-term deposit products.
• describe the general investment and risk principles, options and strategies associated with investing, purchasing or transacting with long- and short-term deposit products.
• describe the impact of applicable economic and environmental factors.
• explain the legislative background and tax implications of long- and short-term deposit products.
• assess the appropriateness of long- and short-term products for specific client needs.

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.