Do I need two years of experience before I can study or work?

Separate course entry from responsible-manager experience and industry mentoring rules.

Sources checked 2026-10-08 · Prepared 2026-10-09

Which two-year rule are you hearing about?

National course entry is nil. ASIC's mortgage-broking responsible-manager guidance refers to at least two years of relevant problem-free experience, while MFAA mentoring policy concerns less-experienced brokers. These are different checks.

Source: FNS40821 national register (government training register) · Getting a credit licence FAQs (government regulator) · MFAA membership and mentoring FAQs (industry association policy, not law)

How do you avoid mixing them up?

Make separate lists for study entry, your proposed work role and association membership. Ask the relevant organisation to explain each requirement. A responsible-manager test is not a blanket national ban on beginners studying or entering every representative role.

Source: FNS40821 national register (government training register) · Getting a credit licence FAQs (government regulator) · MFAA membership and mentoring FAQs (industry association policy, not law)

What should you compare?

• Study entry
• Responsible-manager role
• Mentoring policy

What remains unconfirmed?

An employer or membership body may add its own criteria.

This is study guidance based on sources checked 8 October 2026. Confirm current rules and your individual arrangement with the relevant organisation before acting.

What can you do next?

Create three separate checklists for study, your proposed role and membership.

What else may help?

• What does MFAA membership require after Certificate IV?
• What should I check before applying for FBAA membership?

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AI-assisted editorial preparation from supplied official-source research. No named human author or professional sign-off is claimed.