Assessor Resource
FNSCRD503A
Promote understanding of the role and effective use of consumer credit
Assessment tool
Version 1.0
Issue Date: May 2024
This unit may have particular application in lending institutions prior to accepting loan applications received by those with minimal financial awareness especially the young, recent school leavers, unemployed, senior citizens and those from non-English speaking backgrounds.
This unit describes the performance outcomes, skills and knowledge required to explain the functions and implications of different forms of consumer credit as part of developing the financial skills of clients.
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)