Derivatives Accreditation - Level 1

Accredited Derivatives Adviser

The Stockbrokers And Financial Advisers Association of Australia offers Accredited Derivatives Adviser Level 1 (ADA1) and Accredited Derivatives Adviser Level 2 (ADA2) accreditations.

The accreditation of advisers who advise on derivatives traded on the Australian Securities Exchange is a requirement set out in Part 2.4 of the ASIC Market Integrity Rules (ASX Markets) 2010.

There are two levels of accreditation.

Accredited Derivatives Adviser Level 1 (ADA1) - Advisers accredited at Level 1 are allowed to advise on:

  • Taking options
  • Selling options to close out a taken position
  • Subscribing for and buying and selling warrants
  • Exercising warrants and options
  • Writing covered call options (i.e. where the client owns, or at the same time as writing the calls buys, the underlying shares and lodges those shares with ASX Clear.)

RG146: This accreditation meets the training requirements under ASIC Regulatory Guide RG146 in specialist knowledge and skills components for Derivatives at a Tier 1 level. 

Accredited Derivatives Adviser Level 2 (ADA2) - Level 2 accreditation is required if an adviser advises on:

  • Writing options (other than for the purposes of closing out a taken position, or writing covered calls)
  • Taking or writing LEPOs.

Candidates may enrol in both ADA1 and ADA2 at the same time but must successfully complete ADA1 before enrolling in ADA2 separately.

Please see below table for costs/assessment details and suggested study hours.

Accreditation Enrolment Fees Assessment Details Suggested Study Hours Stockbrokers And Financial Advisers Association CPD Allocation
Accredited Derivatives Adviser Level 1 $370 Ind. Member
$380 Org. Member
$390 Non‐Member

1 x Assignment
(70% pass mark)
1 x Online Exam
(Closed Book, 60 questions, 2hrs + 15 min reading time, 70% pass mark)

* Please note: from 1 February 2015, the exam pass mark is 80% and the assignment pass mark is 80%.
Allow up to 150 hours 20 hours of CPD (including 8 hours Compliance CPD)
Accredited Derivatives Adviser Level 2 $320 Ind. Member
$330 Org. Member
$340 Non‐Member

1 x Online Exam
(Closed Book, 50 questions, 2hrs + 15 min reading time, 80% pass mark)


Allow up to 150 hours 20 hours of CPD (including 8 hours Compliance CPD)
Accredited Derivatives Adviser Level 1 & 2 (ADA1 & ADA2)
Note: Candidates have twelve (12) months to complete ADA1 and ADA2 when enrolling at the same time (not three (3) months as per single accreditation enrolments)
$690 Ind. Member
$710 Org. Member
$730 Non‐Member
As above. As above. As above.

Candidates have three (3) months from enrolling to complete each accreditation or twelve (12) months to complete when enrolling for both ADA1 and ADA2 at the same time.

*All Prices are quoted in Australian Dollars and are exempt of GST. Prices are current as of March 2013.
**note, CPD hours can only be claimed once candidate is already RG146 compliant. CPD points may not be claimed if candidate is undertaking Core 1 Accreditation to become compliant.

Enrol in the ADA1 or ADA2 Accreditation.

Please contact the Stockbrokers And Financial Advisers Association at education@stockbrokers.org.au if you have any queries or would like further information

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