the economic environment, characteristics and impact of economic and business cycles, including: interest rates exchange rate inflation government monetary and fiscal policies the operation of financial markets and the roles played by intermediaries and issuers structure and inter-relationships within financial markets and inter-relationships between industry sectors financial products, including: the concept of a financial product general definition specific inclusions and exclusions types of financial investment products types of financial risk products taxation issues in relation to Superannuation financial products and markets in which they operate advisory functions including: the role of the representative or adviser participants in the advisory services market range of services provided profile and financial information of the client appropriateness of a risk assessment relevant industry codes of practice and conduct complaints resolution procedures (internal and external) regulators guidelines including the requirements of ASIC theories of investment, portfolio management and management of investment and risk: investment concepts investment strategies identification of types of risk client risk profile operation and management of the Superannuation industry: characteristics and structure of a Superannuation product roles played by intermediaries and issuers types of Superannuation products fee structures/administration and management costs types of contribution annuities/pensions, allocated pensions and income stream products associated risks trustees appointment, duties and responsibilities structure of superannuation plans management and administration of Superannuation products preservation rules investment strategies within superannuation funds (i.e. investment concepts and strategies) restrictions on investment strategies Retirement Saving Act (RSA) detailed knowledge of the SIS Act Superannuation Guarantee Act, and other relevant legislation Superannuation Contribution Tax (Assessment and Collection) Act the legal environment and disclosure and compliance: the role of the representative or adviser relevant legal principles (e.g. Corporations Act, Financial Services Reform Act (FSRA), Trade Practices Act) the relationship between ethics and regulatory requirements (e.g. good faith, utmost good faith) full disclosure of remuneration and fees and any other conflicts of interest which may influence the adviser's recommendation |