Assessor Resource
FNSFLT503A
Promote basic financial literacy skills
Assessment tool
Version 1.0
Issue Date: May 2024
This unit may be applied within a financial counselling role or within lending roles within various financial institutions. It is particularly aimed at addressing the need for financial literacy among those with a limited understanding of the financial system who are possibly at a disadvantage when making decisions about the use and management of money.
This unit describes the performance outcomes, skills and knowledge required to develop customer's basic financial literacy skills necessary to make informed financial decisions including the need and purpose of bank accounts, basic savings and investment principles, risk and return, and the role of insurance and superannuation.
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)