EFPA Course -The Certificates - Assoreti

The online course “The Certificates” is now available on the Assoreti Formazione Studi e Ricerche e-learning platform, the contents of which are edited by ACEPI.
The course is EFPA accredited and valid for 4 hours / credits for maintaining EFA, EFP, EIP and EIP CF certifications and for Consob professional updating.
For interested users, the course has a cost of € 100.00 + VAT.
Participation in the course is totally free for consultants with a mandate with an Intermediary who carries out compulsory training with Assoreti Formazione.
For information and registration, write to assistenza@assoretiformazione.it.

PDF program (in Italian only) is available on Assoreti website, as shown below.

Program of the online course The Certificates 

Accredited and valid for 4 hours / credits for maintaining EFA, EFP, EIP and EIP CF certifications and for Consob professional updating.

Objective and structure


The aim of the course is to explain what certificates are and what are the advantages and risks associated with this type of investment, even compared to other asset classes.
The construction methods are then analyzed to understand the role of dividends and the main types of certificates are illustrated, not limited to the description of the payoff but highlighting the market contexts, expectations and objectives for which these instruments could give added value to a wallet. Finally, the methods of offering are illustrated with hints also on taxation.

Caratteristics and typology
  • What are certificatesThe types of certificates
  • Investment Objectives and Certificates
  • A comparison between tools
  • Market expectations and Certificates

Mechanism of construction, costs, risks and taxation of certificates
  • The mechanism of construction of certificates: the case of equity protection
  • The costs of the certificates
  • The risks of investing in certificates
  • Taxation of certificates

Conditionally protected capital certificates: Bonus and Express
  • Bonus certificates
    -Caracteristics
    -How to use

  • Express certificates
    -Caracteristics
    -How to use

Conditionally protected capital certificates:  Cash Collect

  • Cash Collect certificates
    -Caracteristics
    -How to use
  • Express Plus certificates
    -Caracteristics
    -How to use