- BSBINT306B - Apply knowledge of international finance and insurance to complete work requirements
Assessor Resource
BSBINT306B
Apply knowledge of international finance and insurance to complete work requirements
Assessment tool
Version 1.0
Issue Date: May 2024
This unit applies to individuals who work under the supervision of a more experienced colleague in various international work contexts. They may exercise discretion and judgement using appropriate theoretical knowledge of international finance and insurance. Work may be for an external client or for the organisation in which the individual is employed.
This unit describes the performance outcomes, skills and knowledge required to apply knowledge of international finance and insurance to complete work requirements.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)
Employability Skills
This unit contains employability skills.
Evidence Required
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. | |
Overview of assessment | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the following is essential: accessing, analysing and applying information related to finance and insurance to international trading operations completing documentation related to finance and insurance of international trading operations knowledge of financial risk and financing options for mitigating risk. |
Context of and specific resources for assessment | Assessment must ensure: access to an actual workplace or simulated environment access to office equipment and resources examples of case studies relating to finance and insurance in international trading operations. |
Method of assessment | A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit: direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate review of development taken to ensure currency and adequacy of knowledge and skills in applying finance and insurance to own work analysis of responses to case studies and scenarios observation of presentations on financial and insurance requirements for international transactions oral or written questioning to assess knowledge of importing and exporting requirements assessment of research undertaken in determining international finance and insurance requirements assessment of completed documentation. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: finance units or other international business units. |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Assessment Tasks
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
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Required skills |
culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities literacy skills to access and interpret documentation numeracy skills to ensure accuracy of calculations for fees and charges, currency conversions and payments required analysis skills to evaluate knowledge and skills gaps problem-solving skills to identify information requirements. |
Required knowledge |
identification and overview knowledge of key provisions of relevant legislation from all levels of government that affects business operations, codes of practice and national standards, such as: contract law Customs Act International Commercial Terms (INCOTERMS) trade modernisation legislation: Customs Legislation Amendment and Repeal Act, Import Processing Charges Act, Customs Depot Licensing Charges Amendment Act Trade Practices Act Warsaw Convention World Trade Organization determinations enterprise policies and procedures relating to international trading operations financial risk and financing options for mitigating risk regulatory authorities, their roles in international trade, and penalties for incorrect documentation and declarations current political events related to countries with which organisation is trading. |
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. | |
Available standards may include: | competency standards enterprise standards industry standards specific training courses related to international trade |
Development may include: | formal training courses industry-based seminars information sessions hosted by government departments, industry associations mentoring/coaching arrangements reading programs |
Enterprise resources may include: | enterprise knowledge management system enterprise library or filing system government publications (Australian and international) other personnel in the enterprise |
Accessing information may include: | external resources, internet, government agencies external libraries information 'hotlines' and 'help desks' International Chamber of Commerce specialist external consultants |
Documentation may include: | financial calculations related to taxation, fees, quotations forms such as insurance claims or applications for policies, banking forms, internal requirements letters, memos, reports, other internal documents permit applications with regulatory authorities |
Originator of documentation may include: | external sources including bank or financial institution, insurance broker or agency, regulatory authority internal sources within organisation |
Accuracy and correctness may include: | accuracy of calculations correct spelling, grammar and syntax required format veracity of information supplied |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
Observation Checklist
| Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
|---|---|---|---|
| Assess personal knowledge and skills in the area of finance and insurance against needs and available standards to determine currency and adequacy of own knowledge and skills | |||
| Identify the various insurance types available and their application for international trade | |||
| Identity knowledge and skills gaps | |||
| Undertake development to ensure currency and adequacy of knowledge and skills in applying finance and insurance to own work | |||
| Determine specific needs for information | |||
| Access enterprise resources to obtain available information | |||
| Check and access information from available resources against specific needs | |||
| Access further information if required | |||
| Collect and collate available information for analysis | |||
| Interpret, analyse and process available information to obtain required information | |||
| Seek assistance of enterprise personnel and relevant third parties if required, to interpret, analyse and synthesise required information | |||
| Check outputs of analysis process against required information and specific needs | |||
| Undertake further research and analysis to meet specific needs if required | |||
| Use outcomes of research and analysis to facilitate international trading operations in compliance with relevant legislation (Australian and international), trade conventions and agreements, and international financing arrangements | |||
| Complete documentation according to enterprise standards, instructions supplied with document or form, and directions obtained from originator of form or document | |||
| Check documentation for accuracy and correctness by self and manager or supervisor as required |
Forms
Assessment Cover Sheet
BSBINT306B - Apply knowledge of international finance and insurance to complete work requirements
Assessment task 1: [title]
Student name:
Student ID:
I declare that the assessment tasks submitted for this unit are my own work.
Student signature:
Result: Competent Not yet competent
Feedback to student
Assessor name:
Signature:
Date:
Assessment Record Sheet
BSBINT306B - Apply knowledge of international finance and insurance to complete work requirements
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
(add lines for each task)
Feedback to student:
Overall assessment result: Competent Not yet competent
Assessor name:
Signature:
Date:
Student signature:
Date: