Advisers aiming for chartered status can now get practical experience at taking the AF3 advanced pensions exam thanks to an online product from Wizard Learning.
The learning solutions provider has launched a service whereby candidates take a written mock online exam, which is then marked by a chartered financial plannercomplete with comments and answer suggestions and re-accessed by the candidate.
Mike Goldsmith, managing director of Wizard Learning and a chartered financial planner, said: “The CII recommends the advanced diploma candidates dedicate 120 hours of study in preparation for the AF exams, but where do you get that experience from?

Study guides are not issued for the advanced diploma exams because the exam is designed to build on knowledge already gained at diploma level.”
Mr Goldsmith, who expects more than 100 candidates to use the AF3 mock exam system by April, said: “Getting practice at taking the exams is what people are finding difficult. But that is what gives us a competitive edge.”
While past exam papers can be purchased from the CII, Mr Goldsmith says that these may not be up-to-date with recent legislation and obviously does not provide bespoke recommendations for each incorrectly answered question as the Wizard Learning online product does.

Intermediary firms can easily and cost-effectively fulfil FSA competence requirements by giving their employees online tests with software developed by chartered financial planner Mike Goldsmith.
   Mr Goldsmith's company Wizard Learning has launched an Assessing Competence Tool that helps IFA owner-managers test their adviser's technical knowledge on a continuous basis, thus ensuring that the firm's employees remain fully competent in the roles they perform. The standard cost of the assessment package is £75 including VAT for each user and discounts are available for multiple users.
  The assessment covers topics such as financial planning, investments, pensions, protection and regulation and usually takes 15 minutes to complete each assessment, of which there are 20 in each topic group.

Mr Goldsmith, managing director of Wizard Learning, said: "It covers all of the topics that are mandatory for the minimum industry benchmark but for firms that want to be more demanding, they can come to us and we will add higher level questions to the assessment to bring it up to diploma level, for example”.
  Email assessment results provide a grade A-C for scores between 55 per cent and 100 per cent, outlining each wrong answer given, with the correct answer alongside it and highlighting the area of business it relates to. The email will also provide a printable CPD certificate showing the adviser's results. A tailored version of the assessment tool can also be used to roughly test the knowledge and competence of recruitment candidates at interview stage, emailing owner-managers the results. Cost for this is by negotiation.

www.wizardlearning.com
or call 0845 867 5890