Credit and exemption

Macquarie University recognises prior learning (RPL) gained through formal studies, work experience and/or industry qualifications. In the MAFC's programs, RPL can be used to:

  • satisfy entry requirements;
  • reduce the number of gateway units of study available for Master of Applied Finance (MAppFin) and Graduate Diploma of Applied Finance (GradDipAppFin); and/or
  • exempt study of a required (core) unit.

The maximum amount of RPL awarded is determined in accordance with the Schedule of Minimum Requirements at Macquarie University.

Award minimum requirements

The minimum requirements for MAFC programs are:

Graduate Certificate of Finance

Students must complete a minimum of 8 credit points of AFCP units

Graduate Diploma of Applied Finance

Students must complete 16 credit points of ECFS & AFCP units

Master of Applied Finance

Students must complete at least 32 credit points of ECFS & AFCP units

Note:

  • AFCP802 Professional Practice must be completed at the MAFC.
  • Credit/exemption for previous studies is only granted if the unit has been completed within the previous ten years.
  • Undergraduate units do not attract credit.

Exemptions

Applicants who have partially completed or completed a postgraduate award at Macquarie University or another tertiary institution, or designated professional qualifications, may be eligible for unit exemptions.

Some exemptions require the successful completion of a challenge exam. A fee of AUD$250 will be charged per challenge exam.

An exemption means that you do not need to complete the designated unit, however, you must complete alternative elective units in place of the exempted unit.

Credit for MAppFin and GradDipAppFin

Applicants who have partially completed a postgraduate award at Macquarie University or another tertiary institution may be granted credit; subject to the minimum award requirements.

Applicants who have successfully completed professional accreditation as detailed in the table below will be eligible for the following credits.

Accreditation body Level/designation Credit for units
CFA Institute

Completion of Level 1,2 & 3

Automatic unit credits for:

  • AFCP810 – Finance Principles
  • AFCP811 – Case Studies in Applied Finance
  • AFCP812 – Quantitative and Economic Analysis
  • AFCP813 – Financial Statement Analysis and Modelling
CFA Institute

Completion of Level 3

Automatic unit exemption:

  • AFCP801 – Portfolio Management and Valuation
PRMIA

Professional Risk Manager

Automatic unit credits for:

  • AFCP810 – Finance Principles
  • AFCP811 – Case Studies in Applied Finance
  • AFCP812 – Quantitative and Economic Analysis
GARP

Financial Risk Manager

Automatic unit credits for:

  • AFCP810 – Finance Principles
  • AFCP811 – Case Studies in Applied Finance
  • AFCP812 – Quantitative and Economic Analysis
Association of Corporate Treasurers

Diploma/Advanced Diploma in Treasury Management

Automatic unit credits for:

  • AFCP810 – Finance Principles
  • AFCP811 – Case Studies in Applied Finance
  • AFCP812 – Quantitative and Economic Analysis
  • AFCP813 – Financial Statement Analysis and Modelling
AFMA

Financial Markets Diploma

Automatic unit credits for:

  • AFCP811 – Case Studies in Applied Finance
KAPLAN

Master of Applied Finance

Graduate Diploma of Applied Finance

Graduate Certificate of Applied Finance

Automatic unit credit for up to 2 units from the following:

  • AFCP810 – Finance Principles
  • AFCP812 – Quantitative and Economic Analysis
  • AFCP813 – Financial Statement Analysis and Modelling

Challenge exams

Some exemptions require the successful completion of a challenge exam. A fee of AUD$250 will be charged per challenge exam.

CFA  - Completion of level 1 & 2

AFCP801 – Portfolio Management and Valuation

PRMIA - Professional Risk Manager designation

ECFS868 – Financial Risk Management

GARP -  Financial Risk Manager designation

ECFS868 – Financial Risk Management

Association of Corporate Treasurers – Diploma/Advanced Diploma in Treasury Management

ECFS866 – Corporate Finance

Required evidence for assessment

To be assessed for credit/exemption based on formal learning, you will need to attach a certified copy of the transcript of all relevant previous studies including any currently enrolled units you intend to complete prior to commencing at Macquarie University - you may be asked to provide your original transcripts. Please contact your previous institution to obtain a copy of your official transcript.

You will also need to supply unit guides or outlines for each unit on your transcript you wish to have assessed for credit/exemption. Unit guides should normally include information on the course content covered, learning outcomes, required readings, and assessment methods

If any of your supporting documents are in a language other than English, they must be accompanied by a certified English translation.

Relevancy

Prior formal learning will be considered relevant where there is evidence to demonstrate that:

  • you have achieved a quality and standard of learning equivalent to tertiary studies at an appropriate level
  • you have attained the learning outcomes of a specific unit or units and/or stage of the degree program
  • your prior learning is assessed as equivalent in discipline content, depth and breadth.
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