NZDX Adviser study plan

Map the full product landscape (equities, fixed income, FX, derivatives, managed funds, KiwiSaver) into a one-page taxonomy you can redraw from memory

Explain how price discovery works on NZX and how market makers and liquidity providers affect spreads

Calculate yield, duration, and price sensitivity for a bond and state in your own words why prices fall when yields rise

Distinguish futures, forwards, options, and swaps by payoff shape, margin treatment, and counterparty risk

Compare the risk/return and cost structures of direct equities, index funds, active managed funds, and KiwiSaver schemes

Describe how corporate actions (dividends, splits, rights issues) and index rebalancing affect a client holding

Work through three worked examples converting gross to net returns after fees, tax, and spread

Identify which product features drive complexity and which drive client cost, and rank them

Build a diagram of the NZ regulatory stack showing the roles of the FMA, RBNZ, and the relevant legislation in your own words

Trace the licensing pathway for a financial advice provider and list the duties that attach to each licence type

Summarise disclosure obligations across the advice lifecycle, from engagement to ongoing reporting

Explain the difference between a regulated offer and an excluded offer under the securities regime

Apply the suitability standard to three contrasting client scenarios and justify each recommendation

Draft a client needs analysis covering goals, horizon, risk tolerance, capacity for loss, and existing holdings

Distinguish wholesale from retail clients and state what changes in the advice process for each

Identify conflicts of interest in a commission-based and a fee-based model and explain how each is managed

Run a full onboarding sequence from first contact to signed engagement, listing every document generated

Write risk-tolerance questions that separate attitude from capacity and test them on two people

Explain how to handle vulnerable clients and when to escalate or decline to advise

Review a client file against the record-keeping standard and flag every gap

Walk through the trade lifecycle from order entry to settlement and name the party responsible at each step

Compare settlement cycles and explain the counterparty and liquidity risks each one creates

Describe custody arrangements, nominee structures, and client money handling rules

Explain what happens operationally when a trade fails or a corporate action is missed

Build a risk register for an advice business covering market, operational, conduct, and cyber risk

Apply a conduct standard to three case-style dilemmas and write the defensible decision for each

Explain how complaints, remediation, and breach reporting should be handled end to end

Identify the warning signs of financial crime and describe the escalation path

Apply an ethical decision framework to four dilemmas spanning gifts, referrals, and unsuitable pressure

Rehearse the full advice process end to end under time pressure and note where you slowed down

Revisit the weakest questions from weeks 1 to 7 and close each gap with a written explanation

State the professional standards you will hold yourself to and how you will evidence them