Sunday, 28 April 2019

CPD update

I got 20 hrs/units of CPD credit for the uni course I completed in Q1, which put me well over the 40 units/hrs CPD total required for all of 2019. While a total of only 30 units/hrs of formal coursework can be counted towards the annual CPD requirement, I'll continue to get the CPD value of each quarter's uni course 'verified' by my AFSL so they are recorded on my Kaplan CPD record. If nothing else it will provide a convenient annual summary of all the CPD units I complete each year.

I've been doing a couple of the Kaplan CPD articles each week (in reality an article that is rated as one 'hour' of CPD really only takes about 15 minutes to read through, and then another five minutes or so (if you double check each answer) to complete the multiple choice, open book 'exam' online to get the CPD points.

I've also been attending the one-hour webinars presented by my AFSL dealer group (which DO actually take an hour to watch, but I can do them while on my lunch-break at work while also doing some other paperwork, so the effective effort is also only about 15 minutes per 'hour' of CPD credit).

I've also signed up for the free TAL 'academy' which is a resource of several 'webinar' recordings about various aspects of insurance and practice management/marketing. I'll probably do a dozen or so of those webinars during the year, probably while sitting at home in the evenings playing computer games on the other screen ;)

Another source of easy CPD credits are the articles published in each issue of the AFA and FPA professional association magazines. These are worth around 1.5 CPD credits each, so I could get up to another 12 CPD credits from those (if I bother doing the online quizes and then downloading the resulting 'certificate' and entering the details into MyKaplan and then emailing my AFSL to have the certificate 'verified'.

I need to finish off the final video 'role play' submissions for the two 'specialist' modules (margin lending and SMSFs) that I'm doing with IIT (I might also get some CPD hours for those, but I'm not sure), so I can then get started on the four subjects for the Advanced DFP. I'l try to get the two role plays completed this weekend, as I have a uni quiz next weekend and will have to start studying for that.

Overall, I'll end up with around 5-6x the required amount of CPD 'hours' this year, and be just over 1/3 of the way through the Master of Financial Planning course (and have my Advanced DFP) - if all goes to plan. The TAL Academy also has a cheap ($55) 5-hour live seminar for preparing for the 3.5 hour FASEA examination for Financial Planners. I'll probably do that early in 2020 so I can have a go at the exam. You are allowed to take the FASEA exam multiple times in order to pass (different sets of random questions each time), but the exam is only scheduled a few times each year, and existing Financial Planners have to pass the exam before 1 Jan 2021, so I don't want to leave it too late. If I sit the exam fairly soon after completing the ADFP course it should be pretty easy.

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