Recognised Prior Learning (RPL)
The National Finance Institute recognises the skills and knowledge that you have gained through work experience and/or past study.
Applicants are given the opportunity to have their existing competencies and experience recognised. There are two methods by which The National Finance Institute grants recognition of prior learning for the Cert IV and for the Diploma qualifications:
RPL by Portfolio
Your submission would demonstrate your competence in the qualification topics through your documented evidence of workplace experience, skills and knowledge.
Experienced professionals who have more than two (2) years industry experience may be eligible for RPL by Portfolio. This option requires you to submit a portfolio containing evidence of work history, training, skills and knowledge to be assessed against the competencies required for the qualification sought. For brokers/lenders this is typically in the form of a complete CV plus a sample of a client deal you have completed unsupervised, from start to finish.
If you have completed a non-accredited training course in the subject (i.e. through a non-RTO training provider), or if you have industry experience only, you will need to have your competence recognised through RPL by Portfolio. If you are seeking RPL for one or more individual units the fee is the cost of the online unit plus $120 per unit.
RPL for Certificate IV and/or Diploma in Mortgage Broking
The RPL Application form is available by calling NFI on 1300 765 400 or Click for RPL PDF
If you click on the red button link above, the pdf which opens will explain the procedure for FNS40815 and FNS50315 qualifications. If you prefer, you can request to receive it by email from firstname.lastname@example.org.
The form provides details on how to apply for RPL, the fee and documentation requirements. This is the most common form of applying for Recognition of Prior Learning for the FNS40815 Certificate IV and/or FNS50315 Diploma qualifications. The fee is $695 per qualification or $895 for both the FNS40815 and FNS50315 certificates. Applicants must have at least two of the last five years’ experience in the Australian Financial Services industry, principally involved in Finance/Mortgage Broking.
RPL for Certificate IV in Credit Management
The fee for RPL for the FNS40115 qualification is $695. The RPL guide and application form for the FNS40115 Certificate IV in Credit Management can be accessed here.
RPL for other qualifications
All RPL forms can be found in our website’s Forms page.
RPL by Credit Transfer
The National Finance Institute offers RPL by Credit Transfer for courses completed through other training providers. If you believe your previous studies contained similar content coverage to your intended course enrolment with NFI, then you can apply to have credit transferred for all or part of the NFI course. The course being used for credit transfer must have been completed within the past five (5) years and clearly match the content of the course and/or modules for which the RPL by Credit Transfer is to apply. Sometimes RPL can be a combination of Credit Transfer and RPL by Portfolio.
To obtain RPL by Credit Transfer, the preferred approach is to utilise the RPL application form for all qualifications. The applicable Unit Chooser Form may assist for bookkeeping/accounting qualifications. The fee for Credit Transfer review is $48 or in some instances if it is a clear recent match, then there is no fee. Please phone 1300 765 400 or email email@example.com.