NZFMA Accreditation CourSe Outline

The NZFMA Accreditation consists of two components - a Core Module and a Specialist Module

Core Module

This module has been designed to provide individuals in the New Zealand OTC and exchange traded markets with a broad overview of the financial services environment in which they operate.  It discusses financial market products and participants, the economic environment and New Zealand financial services regulation.

A certificate of completion will be awarded once both the Financial Services Core module and assessment and at least one Product Specialist module and assessment have been successfully completed.

Specialist Module

The New Zealand Product Specialist modules have been designed to complement the New Zealand Financial Services Core Module to create a complete learning model of knowledge, skills (applied knowledge) and principles (ethics).  They are designed to assist participants acquire the skills and applied knowledge that one would normally attain in the first six to twelve months as a dealer in these transactions. 

The two Product Specialist modules currently available are:

• New Zealand Government Bonds, Securities and Debt Derivatives Module
• New Zealand Foreign Exchange Module
• New Zealand Futures Module
  

Up until now, the New Zealand Government Bonds, Securities and Debt Derivatives Module and the Foreign Exchange Module have only been offered as self-study options due to a lack of demand from New Zealand market participants. Please note that should there be market demand, we would be happy to offer these modules as public workshops or as an in-house program.

Who should attend

Individuals working within the New Zealand OTC or exchange-traded markets

Level of experience required

Dealers, traders and brokers with approximately 6 months of financial markets experience

Content includes

• The economic environment – local and international
• The role of government in the economic environment
• Characteristics of the New Zealand financial markets and the key participants
• Globalisation of financial markets
• Financial markets and products
• Trading
• An overview of fundamental and technical analysis
• Risk management
• The regulatory environment – statutory, co-regulation and self regulation
• Code of Ethics and Code of Conduct

Pre-course work

None required for this module

Assessment details

An online, closed book exam of 70 multiple choice questions requiring an 80% pass rate
Estimated workload
• 5 hours workshop attendance
• 10-20 hours of self study to successfully complete the exam
• 5-10 hours for completion of the workplace skills component
• 1.5 hour exam

NB These times are approximate and will vary depending on the individual’s experience and study style.

Format

A combination of face-to-face workshop and self study

What you receive at the completion of this module

A certificate of completion will be awarded once both the New Zealand Financial Services Core module and assessment and at least one of the New Zealand Product Specialist modules and assessment have been successfully completed. 
Click here for the list of competency standards for this module.

New Zealand Foreign Exchange Module

This module provides an essential starting point to understanding the foreign exchange, over-the-counter and exchange-traded markets.

The New Zealand Foreign Exchange module builds on the knowledge and skills developed in the New Zealand Financial Services Core module.  It is designed for market participants who trade in foreign exchange products.

Who should attend

The primary audience for the New Zealand Foreign Exchange module includes: Persons working in the foreign exchange market who are seeking industry recognition of their skills and knowledge
Those who would like to move into the foreign exchange markets

Level of experience required

Dealers and traders with approximately 6 months of financial markets experience

Content includes

• Foreign exchange rates and systems
• Factors effecting exchange rates
• Participants and products in the New Zealand foreign exchange market
• Spot foreign exchange
• Forward foreign exchange
• Currency swaps
• Currency futures
• Currency options
• Risk management

Click here to view NZ Foreign Exchange Module Course Outline

Pre-course work

Read the notes prior to attending the workshop

Assumed knowledge

Completion of the Financial Services Core Module

What to bring to the workshop

Please bring your course manual as its contents are discussed during the workshop
NB Your manual is mailed to after you have enrolled in this module.  Please contact NZFMA Services if you have not received the manual before your workshop.

Assessment details

An online, closed book exam of 50 multiple choice questions requiring an 80% pass rate
Estimated workload
• 4.5 hours workshop attendance
• 10-20 hours of self study to successfully complete the exam
• 5-10 hours for completion of the workplace skills component
• 1.5 hour exam
NB These times are approximate and will vary depending on the individual’s experience and study style.

Format

A combination of face-to-face workshop (optional) and self study
Alternately, this module may be completed via self study only

What you receive at the completion of this module

A certificate of completion will be awarded once both the New Zealand Financial Services Core module and assessment and the New Zealand Foreign Exchange module and assessment have been successfully completed. 

New Zealand Government Bonds, Securities & Debt Derivatives Module

This module examines the products available in the following markets: non-government debt; government securities; cash; repurchase agreements; and in OTC derivatives, such as swaps, interest rate options and credit derivatives.
The New Zealand Government Bonds, Securities and Debt Derivatives module builds on the knowledge and skills developed in the New Zealand Financial Services Core module.  It is designed for market participants who trade in these products.

Who should attend

The primary audience for the New Zealand Government Bonds, Securities and Debt Derivatives module includes:
Persons working in the short-term or long-term capital market who are seeking industry recognition of their skills and knowledge
Those who would like to move into these markets

Level of experience required

Dealers and traders with approximately 6 months of financial markets experience

Content includes

• An overview of debt trading
• Participants in debt markets – retail and wholesale
• Monetary flows in the economy and their impact
• Debt products available and why you would use them
• OTC and exchange-traded derivative products
• Pricing and fundamental financial mathematics
• Managing interest rate risk and utilising sensitivity analysis
• Relevant trading techniques

Click here to view New Zealand Government Bonds, Securities & Debt Derivatives Module Course Outline

Pre-course work

Read the course notes prior to attending the workshop

Assumed knowledge

Familiarity with use of a financial calculator capable of undertaking bond pricing calculations e.g. Hewlett Packard 12C or 17BII, or similar
Completion of the Financial Services Core Module

What to bring to the workshop

A financial calculator (see above for specifications)
Please bring your course manual as its contents are discussed during the workshop
NB Your manual is mailed to after you have enrolled in this module.  Please contact NZFMA Services if you have not received the manual before your workshop.

Assessment details

• An online, closed book exam of 50 multiple choice questions requiring an 80% pass rate
• A workplace skills assessment (completed and assessed in the workplace and returned to NZFMA)
• Skills assessment forms are emailed upon enrolment
Estimated workload
• 4.5 hours workshop attendance
• 10-20 hours of self study to successfully complete the exam
• 5-10 hours for completion of the workplace skills component
• 1.5 hour exam
NB These times are approximate and will vary depending on the individual’s experience and study style.

Format

A combination of face-to-face workshop (optional) and self study
Alternately, this module may be completed via self study only

What you receive at the completion of this module

A certificate of completion will be awarded once both the New Zealand Financial Services Core module and assessment and the New Zealand Government Bonds, Securities and Debt Derivatives module and assessment have been successfully completed.