NIBA Webinar | In Practice: Informed Consent Webinar 3

1. From what date do the informed consent obligations under the Quality of Advice Review reforms come into effect for brokers providing personal advice to retail clients?

a) 30 June 2025b) 1 July 2025c) 9 July 2025d) 15 July 2025

2. Which of the following is not required to be disclosed to a client before obtaining informed consent?

a) The rate of the monetary benefit the broker will receiveb) The client's full claims historyc) The name of the insurer (if known)d) A statement that the client’s consent, once provided, is irrevocable

3. Which of the following would likely not be a valid form of documented informed consent?

a) A written record of verbal consentb) A signed written consent formc) A verbal conversation without any written recordd) A digital record of client confirmation via email

4. What are the informed consent requirements when personal advice is provided after 9 July 2025 in relation to the issue or sale of a general insurance product?

a) Brokers must notify ASIC prior to receiving any commissionb) Brokers must obtain informed consent only after the product is issuedc) Brokers must obtain informed consent before the product is issued or soldd) Brokers only need verbal confirmation from the client without documentation

5. To whom do the new informed consent obligations apply from 9 July 2025?

a) All insurance brokers regardless of the type of advice providedb) Only brokers dealing with wholesale clientsc) AFSL holders and authorised representatives who provide personal advice to retail clientsd) Only brokers who provide general advice to retail clients

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