Financial Adviser Exam study plan

Map the advice-construction process end to end, from client discovery through to documented recommendation and implementation

Draft a one-page discovery checklist covering goals, time horizon, liquidity needs, risk tolerance and existing arrangements

Explain in writing how client objectives, constraints and personal circumstances convert into a defensible strategy

Identify the records an adviser must hold to evidence each construction step

Compare the main product and structure categories used in advice construction on cost, liquidity, tax treatment and risk

Build a comparison table of at least six product types and justify when each is suitable or unsuitable

Practise explaining a product recommendation in plain language to a hypothetical client in under 150 words

Analyse two short case scenarios and select an appropriate strategy for each with written reasoning

Connect each advice-construction step to the regulatory obligation it triggers

Outline disclosure, suitability and record-keeping duties and where they sit in the advice file

Draft the sections of a statement of advice covering scope, basis, rationale and risks

Audit a sample advice file against a compliance checklist you build yourself

Summarise the core licensing, conduct and disclosure obligations that apply to giving personal advice

Distinguish general from personal advice and identify when a recommendation becomes regulated personal advice

Explain conflict-of-interest management, remuneration disclosure and best-interest duties in your own words

List the consequences of breaching key obligations and the internal escalation routes available

Apply the code-of-ethics principles to three realistic dilemmas and justify each decision

Identify at least six cognitive biases and describe how each distorts client decisions

Design two client-conversation techniques that counter overconfidence and loss aversion

Write a short ethical decision framework you can apply under time pressure

Explain how behavioural factors shape risk tolerance assessment and client follow-through

Calculate the tax treatment of common income, investment and superannuation or retirement vehicles

Model a simple cash-flow and net-worth statement for a hypothetical client

Produce a written behavioural profile and planning implication summary for that client

Compare the main insurance types on purpose, structure, exclusions and underwriting

Explain risk-management concepts including retention, transfer, mitigation and avoidance with examples

Identify the insurance needs of the week 6 case client and size an appropriate cover level

Integrate insurance and tax recommendations into the case client's plan

Consolidate all five domains into a single revision sheet with the highest-weight topics first

Complete two timed mixed-domain practice papers and record scores by domain

Rework every missed question and write the correct reasoning for each

Rehearse explaining three complex recommendations aloud within two minutes each