What the MFAA says
The MFAA names webinars, workshops and online courses among the activities that qualify. It sets limits on how much of your total each kind can supply.
- CPD must be relevant to the mortgage and finance industry, your role and your career goals.
- Courses and workshops count for up to 25 hours a renewal year.
- You earn 1 CPD hour for each hour of activity you complete, as a general rule.
Facts and sources for this part
- The MFAA says CPD must be relevant to the mortgage and finance industry, your role and your career goals. Webinars, workshops and online courses are listed among the activities that qualify. [S1]
- As a general rule, the MFAA says you earn 1 CPD hour for each hour of activity you complete. [S1]
- The MFAA counts up to 25 hours a renewal year from courses and workshops, including online presentations and webinars. [S1]
What ASIC says
ASIC lists completing online tutorials or quizzes on recent regulatory, technical or professional developments as an activity that may count. It says the list is not exclusive.
It generally does not regard private study as adequate unless it involves audio or visual material specifically designed for the purpose. An interactive course with questions is closer to the first kind than the second. Even so, ASIC says the list is a guide, and your licensee decides what training you need.
Keep proof of what you did. A certificate, a receipt or a confirmation email shows the date, the provider and the time, and the MFAA suggests keeping exactly that kind of record.
Facts and sources for this part
- RG 206 lists completion of online tutorials or quizzes on recent regulatory, technical or professional developments in the industry as an activity that may count towards CPD. [S6]
- ASIC says its list of CPD activities is not exclusive, but it generally does not regard private study as adequate unless it involves audio or visual material specifically designed for the purpose. [S6]
What “allocation” means
The MFAA invites providers to apply for CPD allocation, so that members who take part earn recognised CPD hours. This course has not been submitted for allocation, so you count the hours yourself and your licensee decides whether they are relevant.
Facts and sources for this part
- The MFAA invites providers to apply for CPD allocation, so that members who take part earn recognised CPD hours. [S1]