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Transition FAQs

Transitioning from FNS15 to FNS20 - Important information

The following information is fluid and will be changed periodically, as new information becomes available.

NEW QUALIFICATION TRANSITIONING

As recently announced, the FNS40815 Certificate IV in Finance and Mortgage Broking qualification has been superseded by the FNS40820 Certificate IV in Finance and Mortgage Broking and the FNS50315 Diploma of Finance and Mortgage Broking Management qualification has been superseded by the FNS50320 Diploma of Finance and Mortgage Broking Management. Subsequently, every registered training provider must certify students enrolled in the current qualification by 31 January 2022 or transition them to the new qualification.

Since August 2021 we have been keeping you informed via email and our website about the transition process. Please note that transitioning to a new version of the course provides you with many benefits one of which is attaining the latest qualification. In some cases, there will be ‘gap’ work to do due to the changes in the units that are now not equivalent to the FNS15 units. AAMC Training have worked hard to keep you informed at each stage and we will continue to do so. Below we have put together some further information as FAQs.

To meet the 31st January 2022 training package cut-off date, we are no longer marking any new assessments in the FNS15 qualifications. Students who submitted unsatisfactory assessments prior to 22nd December 2021 and have been asked for additional information by their assessor only have until 14th of January 2022 to re-submit their final attempt.  

FREQUENTLY ASKED QUESTIONS

What happens if I don’t complete before 31 January 2022?
We will provide you with a Statement of Attainment for any units of competency you have completed and if they are equivalent to the new units these will be applied as a credit transfer. If your course expires after 31st January 2022 you will be transitioned into the new FNS20 training package and where applicable will need to complete specially designed abbreviated assessments that just address the gaps.

Will I have to pay more to transition to the new course?
If your expiry dates is after the 31st January 2022, we will transition you free of charge.

If my course expires before the 31st of January and I want to purchase the new course, will I have to pay again?
Yes, you will have to re-enrol and pay for the new course as we are unable to grant extensions because the training package will be closed down. We will, however, happily offer existing students a discount.

Can I get a refund on the FNS15 course, if I don’t want to transition?
AAMC Training are still providing you with a 12-month course and the training regulations require us to transition you before or by the 31st January to a newer version of the course. Our service offering to you does not change and are still aligned with our terms and conditions. 

Can I upload any new assessments before the 31st January 2022 for the FNS15 course?
No new assessments can be uploaded, we are only accepting resubmission assessments where an assessor had already requested additional information on a previously submitted assessment. If you did not upload all of your assessments to be marked before the 22nd of December 2021 AND the expiry of your course falls after the 31st January 2022, then you will be transitioned to the new FNS20 course.
 
What is the difference between the FNS15 and the FNS20 course?
The FNS Training Package has been upgraded in line with industry requirements and there have been some significant changes e.g. incorporating new legislation that was released this year by ASIC etc. AAMC Training have chosen similar or equivalent units for the new FNS20 courses where permittable by the training package rules.

I have completed the current Cert IV (FNS15) and want to do the Diploma Upgrade (FNS20), what will this mean for me?
We will approve credit transfer of any units that are deemed equivalent from training.gov.au from your Certificate IV (FNS04-15) to the new Diploma FNS20. Many of these units are different from the FNS15 to FNS20 course. If you are an existing finance/mortgage broker, banker, accountant or financial planner, we suggest you visit the Finance/Mortgage broking course box on the homepage to view the requirements for other streams of the courses. Or contact our team to discuss the best pathway for you. 

GUIDANCE FOR ASSESSMENTS REQUIRING ADDITIONAL INFORMATION

When is the cut-off date for uploading additional information requested by the assessors?
The final acceptance date to send in your reworked assessments is the 14t h January 2022. This is to allow our team time to mark the assessments in time before the 31st January 2022 deadline. If you fail to meet this cut-off date for sending in your amended assessment(s), you will be transitioned to the new course if your course expires after the 31st January 2022.

How do I upload my additional information?
Your reworked assessment needs to be emailed either to info@aamctraining.edu.au or directly to the assessor/staff member who has been in contact with you regarding the requirement of additional information.

What if I don’t get the assessment correct after another attempt?
If deemed unsatisfactory AND if there are too many further issues with the assessment submitted then no further attempts will be allowed.

STUDENTS TRANSIONED/TRANISITIONING TO THE NEW FNS20 COURSES

What additional assessments do I need to complete?
We have provided information below to give you further guidance regarding what you may/will see in your member portal. Whilst there appears to be more assessments, many of these have been specially designed as abbreviated assessments that just need to capture the new aspects of a non-equivalent unit. If you have successfully completed any written assessments and their role plays from your FNS15 course, these will count towards your new FNS20 qualification as a credit transfer if the unit is equivalent and no further assessments are required for that unit. There will also be some entirely new assessments where a unit was not in the FNS15 course but because of the new packaging rules are now included as a core subject.

What are gap assessments and why do I need to complete these?
We have made every effort to take all of the assessing variables into our planning when creating the gap assessments. These assessments address the new requirements to achieve the new FNS20 units.

Why didn’t some of the assessments I completed in the FNS15 course, not count towards my new FNS20 course? 
There are quite a few variables in this situation, following are just some of the situations:

  • Assessment was done, but not uploaded
  • Assessment resubmissions weren’t completed in time or unsatisfactory by the cut-off date set for resubmissions of 14th January 2022
  • Not every assessment in the Module was completed to a satisfactory standard or was not completed at all, e.g. written assessments uploaded but skills sign-offs (role plays) were not completed.

I completed some assessments that aren’t counted towards the new FNS20 course, now what?
Information about which assessments to focus on to benefit your transition has been provided on this page for the past few months.

Do I get a refund for finishing earlier than my 12 months?
No refunds apply if you complete their qualification earlier than the 12 months enrolment period. You are paying to be trained and assessed by industry experts that will help you to achieve a qualification which will put you onto your chosen career path. AAMC Training already provides you with a longer enrolment period without having to pay for an extension than some current training providers. You may choose to complete your course earlier, but if not, we will offer a transition to the new qualification free of charge where you to continue in your course with the original expiry date if your expiry date is after 31st January 2022.