Frequently asked questions about the NZCFS5 Success Rebate
The most commonly asked questions in relation to the Level 5 New Zealand Certificate in Financial Services Success Rebate are answered below. You may search by keyword, or for questions not limited to the Success Rebate, see all frequently asked questions.
Why is Strategi Institute giving a $500 Success Rebate?
The funding for the Strategi Institute Success Rebate is the result of a government commitment to encourage people to complete formal qualifications. The funding is provided to Skills Organisation who pays it to Strategi Institute once an eligible adviser completes their study. Strategi Institute then pays $500 plus GST to the adviser (or the entity that paid for the study).
Why can I only be paid the Success Rebate after I have completed my study?
Strategi Institute only receives the funding after the adviser is completed – not on the basis of the enrolment itself.
What if Strategi Institute cannot afford to pay my Success Rebate, or goes bust?
Don’t worry - it won’t happen! The Success Rebate itself is only paid after you finish – it is not paid to Strategi Institute in advance. Skills Organisation, as the industry training organisation, is there to ensure that in the unlikely event your training provider has financial difficulties, you can still receive your rebate.
The course fees you pay are also protected for the duration of your study, through being held in trust by the Public Trust.
Why do I have to complete both Strands of the Certificate to receive the Success Rebate – why can I not complete just one strand and collect half the money?
The Success Rebate funding is available to encourage people to finish their NZ Certificate in Financial Services Level 5 qualification. That is why it is only paid in arrears.
Why do I have to complete my study and pass my assignments within 8 months for the Success Rebate - why can’t I just hand in all my assessments at the end?
These are the requirements of the Level 5 Success Rebate funding. Students must demonstrate commitment to their studies, and so there is a requirement to have passed two assignments within the first three months of commencing study. The government also wants students to finish in a timely manner and so there is an 8-month completion window.
Does the Success Rebate requirement to complete Level 5 in 8 months, apply to each strand, or both strands I study?
The 8 months applies only to starting and finishing the Certificate (i.e. Core plus your chosen specialist strand) within 8 months. If you need to do additional strands, then these do not have to be completed within the 8-month window.
What happens if I cannot complete the Certificate in the 8-month timeframe – can I still get the Success Rebate?
Unfortunately, you will not qualify for the Success Rebate if you do not compete the Certificate in this timeframe. You can however continue with your study under Strategi Institute’s normal enrolment criteria.
If I have already completed, for example, Life and Health Insurance Strand, can I complete Core and a different specialist strand and still qualify for the Strategi Institute Success Rebate?
Yes, you can still qualify.
If I started my NZCFS study prior to 2019 can I still qualify for the Success Rebate?
Generally no as funding only became available this year. However, if you have only completed one specialist strand you can qualify for the Success Rebate by completing Core and a different specialist strand.
How long will the Success Rebate funding be available for?
We don’t know – and nor does Skills Organisation. We recommend that if you need to complete NZCFS5, you enrol with Strategi Institute now and get started as soon as possible while there is funding in place.
What is the process to enrol if I think I am eligible for the Success Rebate?
Complete the Strategi Institute enrolment form and if you are eligible, we will send you a training agreement for completion – this will confirm your eligibility and register you for payment of the Success Rebate once you successfully complete your Level 5 Certificate study.