Important: From 1 January 2019, the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 will require new financial advisers to complete a bachelor or higher degree, or equivalent qualification, as approved by the Financial Adviser Standards and Ethics Authority. The new framework is still being established, however CPA Australia will continue to monitor its development. For further information, refer to professional standards.

Subject outline: First edition

Risk Advice and Insurance is designed to provide you with insurance and risk-advice knowledge and skills that are applicable to the Australian insurance industry and regulatory environment.

On completion of this subject, you should be able to:

  • understand the value of financial planning in the area of risk advice and insurance 
  • explain the purpose of general, life and disability insurances 
  • explain the purpose of business insurance 
  • understand the process of insurance underwriting and claims 
  • recommend appropriate insurance ownership for a client
  • determine the tax implications for various insurance types and ownership structures 
  • apply the financial advice process to provide appropriate risk and insurance advice. 

Exam structure

The Risk Advice and Insurance exam is comprised of a combination of multiple-choice and extended-response questions.

For further information, see the subject outline (PDF).