Cert IV vs. Diploma in Finance and Mortgage Broking: Which is Right for You?

mortgage broking qualifications Jan 02, 2024
Certificate IV and Diploma in Finance and Mortgage Broking

FARSTA, a leading registered training organisation, offers both the Certificate IV (FNS40821) and Diploma upgrade course (FNS50322) in Finance and Mortgage Broking. In this article, we'll discuss the differences between these two qualifications.

Understanding the Basics:  What is Cert IV in Finance and Mortgage Broking?

The Cert IV in Finance and Mortgage Broking provides the foundational knowledge and skills required to meet the core competencies of ASIC and Industry Bodies such as the Mortgage & Finance Association of Australia (MFAA) and Finance Brokers Association of Australia (FBAA). It is the minimum requirement to become a credit representative or a licensed mortgage broker.

Cert IV Course Competencies:

  • Managing personal and professional development
  • Develop and maintain professional relationships in financial services industry
  • Prepare loan applications on behalf of clients
  • Identify client needs and present broking options
  • Comply with financial services regulation and industry codes of practice
  • Conduct work according to professional practices in the financial services industry
  • Apply and maintain knowledge of financial products and services
  • Research and develop business plans
  • Design and produce business documents
  • Establish client relationship and analyse needs
  • Assess credit applications
  • Deliver a professional service to customers

Duration and mode of delivery:

  • Ther are 3 possible delivery methods.
    3 day classroom course
  • Distance Education
  • RPL (recognition of prior learning)

The classroom training takes place over three days. Students have as long as 12 months to complete, but the course is typically completed over the space of a few weeks.  FARSTA also offers an optional additional 2 day assessment block, providing extra support and knowledge to help complete the qualification.

Career opportunities after completion:

  • Mortgage and finance broker
  • Loan officer in banks and financial institutions



Diving Deeper:  The Diploma in Finance and Mortgage Broking

For those who have already completed their Cert IV, the Diploma upgrade prepares for management job roles in the finance and mortgage broking industry, including roles that are independent, undertaken through an aggregator or involve managing a workplace team. It also equips students with some important skills and knowledge to start their own broking business.

Advanced course content and specialisations:

  • Complex lending scenarios and solutions
  • Advanced loan structuring
  • Risk management and mitigation
  • Leadership and management in broking

Duration and delivery methods:

  • 2 day classroom course
  • May slightly longer than Cert IV, depending on experience.
  • Available both in-person and via distance education.

Enhanced career prospects and roles:

  • Senior mortgage broker
  • Brokerage firm manager
  • Compliance and risk management roles
  • Consultancy in finance and lending

Why Choose FARSTA for Your Finance and Mortgage Broking Training?

Experienced finance professionals as trainers:  Learn from the best in the industry, with trainers who have real-world experience and insights.

Flexible delivery methods catering to different learning preferences: Whether you prefer online learning or face-to-face interactions, FARSTA offers both to suit your needs.

Nationally recognised qualifications: Stand out in the job market with a qualification that is recognised and respected across Australia.

Understanding the difference between the Cert IV and Diploma in Finance is fundamental in planning your career trajectory. While it isn’t essential to hold a Diploma, some lenders and industry bodies insist that members have this higher-level qualification.