NZX Adviser case studies

NZX Adviser · Put your knowledge to work in context.

The NZX Adviser Examination is a knowledge assessment for professionals seeking to become accredited advisers under the New Zealand exchange's adviser accreditation regime. It is typically taken by people who advise retail clients on equities, debt securities, managed funds, ETFs, and derivatives, or who wish to move into those roles. The exam tests eight domains: the regulatory framework and market conduct; client onboarding, suitability and disclosure; equities and the NZX cash market; debt securities and fixed income; managed funds, ETFs and portfolio construction; derivatives and risk management; taxation and retirement planning; and ethics and professional standards. Expect multiple-choice questions delivered by computer, with a mix of recall and applied scenario items. The NZX Adviser case studies are 5 cases and about 2,821 words.

The retirement drawdown that did not fit the risk score

Margaret, 63, plans to stop work at 65. She has 420,000 in a balanced KiwiSaver fund, 180,000 in term deposits, and a mortgage-free home.

598 words, about 3 min 2

The pre-announcement purchase in a trading halt

You are an adviser at an NZX market participant. At 9:05am a longstanding client, a retired teacher, instructs you to buy 60,000 shares in Kauri Energy Ltd (NZX: KEL) at market.

527 words, about 3 min 3

The 7.25% subordinated note for a 72-year-old income client

Bruce, 72, has 300,000 from a maturing term deposit and wants 'at least 6% income with no sharemarket risk'. Your licensee's product list includes a five-year subordinated note issued by a NZ finance company, rated BBB- by an agency, coupon 7.25%, callable after two years, minimum 10,000.

576 words, about 3 min 4

The low-fee global ETF and the employer-share concentration

Ana, 41, earns 145,000, has 250,000 to invest outside KiwiSaver, and wants a 'set-and-forget' portfolio for 20 years. She already holds 140,000 of her employer's NZX-listed shares, which is 35% of her 400,000 investable assets, and 10,000 in a savings account.

555 words, about 3 min 5

The covered-call income strategy after a 12% fall

Tom, 68, has a 500,000 portfolio of 10 NZX-listed shares and 30,000 cash. He needs 35,000 a year and is worried about volatility.

565 words, about 3 min