NZDX Adviser study guide
NZDX Adviser · Work through your exam, one topic at a time.
The NZDX Adviser credential is aimed at people who advise clients on New Zealand debt and derivative-style exchange-traded products and who need to show they understand both the instruments and the conduct rules around them. The exam is delivered in English as multiple choice and is built around six domains: financial markets and products; regulatory framework and compliance; client onboarding and suitability; trading, settlement, and custody; risk management and conduct; and ethics and professional standards. The NZDX Adviser study guide has 6 sections and about 1,740 words.
01Financial Markets and Products
This section examines how New Zealand fixed-income securities are issued, structured and priced, and whether you can apply those concepts to client conversations. Expect definitions, yield/price relationships and product-risk questions rather than equity analysis.
335 words, about 2 min02Regulatory Framework and Compliance
This section tests the regulatory architecture around NZDX advice and trading: who regulates what, which conduct is prohibited, and what licensing and disclosure duties apply to advisers. The Financial Markets Authority (FMA) is the conduct regulator.
324 words, about 2 min03Client Onboarding and Suitability
This section covers know-your-client obligations, anti-money-laundering controls and the suitability process: matching a debt product to a client's objectives, horizon and risk capacity. Under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, reporting entities must conduct customer due diligence (CDD).
292 words, about 1 min04Trading, Settlement and Custody
This section follows the trade lifecycle on NZDX: order handling, execution, settlement and holding of client assets. It tests practical timing and control issues.
262 words, about 1 min05Risk Management and Conduct
This section tests whether you can identify the risks in a fixed-income business and apply conduct controls: client money, conflicts, complaints and escalation. Market risk includes interest-rate and spread risk.
275 words, about 1 min06Ethics and Professional Standards
This section tests the standards expected of an NZDX adviser beyond technical competence: integrity, client priority, disclosure and professional judgement. The Code requires ethical behaviour, acting with care, diligence and skill, managing conflicts, protecting client information and maintaining competence.
252 words, about 1 min