The RPL pathway allows suitably experienced and qualified applicants to complete the Financial Markets Certificate in less time. Macquarie University may recognise academic awards and/or work experience that have been previously obtained.

The Financial Markets Certificate comprises four modules:

• Financial Markets Concepts
• Financial Markets Transactions
• Risk Management Principles
• One elective: Debt Markets, Foreign Exchange Markets or Energy Financial Markets

RPL is available for the two core modules Financial Markets Concepts and Financial Markets Transactions. All RPL is assessed by Macquarie Business School, not AFMA. The RPL steps are:

Step 1: Apply to Macquarie Business School & have eligibility assessed

Applicants can apply at any time by downloading an application form from the Macquarie Business School RPL webpage and submitting to the Macquarie Business School. Your application must include supporting documentation such as official academic transcripts.

Step 2: Challenge Tests

Once Macquarie Business School approves eligibility, applicants are invited to undertake the RPL Challenge Test for their selected module(s). Passing the test(s) exempts an applicant from needing to undertake the associated module(s) in the Financial Markets Certificate.

There are two parts to each test, Part A is multiple choice and Part B is short answer. The tests are run six times a year in line with Macquarie Business School's six terms and must be completed within the allotted timeframe.

If the applicant fails any of these quizzes, they will be required to undertake the relevant module(s) in full.

Step 3: Complete Risk Management Principles Module + Elective

Once the Financial Markets Concepts and Financial Markets Transactions tests and/or modules are completed, the applicant can continue study as per the Financial Markets Certificate pathway, commencing with the Risk Management Principles Module. Applicant must pass the Risk module before progressing to their chosen elective, Debt Markets, Foreign Exchange Markets or Energy Financial Markets. Pass mark is 65%.

Step 4: Apply for AFMA Accreditation

Once the Financial Markets Certificate is successfully completed, if you are working with an AFMA Member Firm, we will reach out to you to complete the Accreditation process.

Recognition of Prior Learning (RPL) Pathway Fee Summary All fees payable to Macquarie University Step One: No fees are due to assess eligibility. Step Two: The following fees are due before access to the Challenge Tests is provided.
AFMA Member Firms:	$756 including GST per module
Non Member Firms:	$847 including GST per module
Step Three: If successful in Step Two, the following fees are due before access to the Risk Management Module and Elective Module is provided.
AFMA Member Firms:	$1515 including GST per module
Non Member Firms:	$1695 including GST per module