NZFMA Dealer Accreditation study guide
NZFMA Dealer Accreditation · Work through your exam, one topic at a time.
The NZFMA Dealer Accreditation is a New Zealand credential for people who deal in financial products or advise on them under the Financial Markets Conduct Act 2013 (FMC Act). It is aimed at dealers, authorised body advisers, compliance and supervision staff, and front-office staff at licensed providers who need to show they understand the FMA licensing regime and the conduct standards that go with it. The NZFMA Dealer Accreditation study guide has 9 sections and about 2,657 words.
01Regulatory framework and FMA licensing regime
The examiner checks whether you can place a dealer business inside New Zealand's regulatory architecture: who licenses it, what conditions attach, and what happens when obligations fail. The Financial Markets Authority (FMA) is an independent Crown entity established under the Financial Markets Authority Act 2011.
366 words, about 2 min02Financial Markets Conduct Act 2013 and fair dealing
Fair dealing under the FMC Act is enforceable conduct law, not a set of marketing preferences. Expect questions on misleading conduct, false representations, market manipulation, and insider trading in dealer communications and trading.
313 words, about 2 min03Client onboarding
Onboarding is where legal classification, suitability, disclosure, and AML converge. The exam tests whether you can open an account that is both compliant and usable, and document the reasoning.
297 words, about 1 min04AML/CFT and identity verification
AML/CFT is a supervisor favourite: risk assessment, customer due diligence, beneficial ownership, PEPs, reporting, and records. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requires reporting entities to have a risk assessment, an AML/CFT programme, a designated compliance officer, and training.
307 words, about 2 min05Market conduct, disclosure and client communications
This domain tests whether your marketing, advice, and ongoing communications are fair, clear, and not misleading, and whether you can prove what was said. Retail offers generally require a product disclosure statement under the FMC Act, containing key features, risks, fees, and complaint information.
265 words, about 1 min06Order handling, execution and trade reporting
Order handling and execution test whether client orders are prioritised, executed on instructed terms, allocated fairly, and reported accurately. A dealer must act in the client's best interests and handle orders promptly and fairly.
292 words, about 1 min07Record keeping, reconciliation and audit trails
This domain tests whether you can reconstruct what happened, prove compliance, and detect breaks. The FMC Act and licence conditions require records to be accurate, complete, and retrievable.
283 words, about 1 min08Complaints, dispute resolution and breach reporting
This domain tests whether you can respond to client harm, escalate internally, use the external dispute resolution scheme, and notify the FMA when required. Under the Financial Service Providers (Registration and Dispute Resolution) Act 2008, financial service providers must be members of an approved dispute resolution scheme.
283 words, about 1 min09Professional ethics and conflicts of interest
Ethics and conflicts test judgment: whether you can identify, disclose, manage, or avoid conflicts, and whether your personal conduct supports market integrity. Dealers must act honestly, professionally, and in the client's best interests.
251 words, about 1 min