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 ability to:

apply knowledge of relevant legislation and industry codes of conduct

interpret research requirements and research financial products and strategies to set guidelines

summarise research information and contribute to recommendations.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

internet access.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills which may include formal examinations

setting and reviewing workplace projects and business simulations/scenarios

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Required skills

communication skills to:

determine and confirm work requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

literacy skills for analysing information and products

research skills such as:

accessing and managing information

interpreting documentation

coordinating tasks

numeracy and IT skills including:

using financial product information and making related calculations

using internet information

recording, gathering and consolidating financial information skills

learning skills to maintain knowledge of changes to compliance legislation and requirements

judgement skills to form recommendations for operational situations

Required knowledge

organisation policies, objectives and guidelines

financial industry legislative and code of practice requirements

relevant acts and regulations

risks associated with specific financial products and services

taxation and social security systems and regulations and their effect on the specified financial products

the role of independent analysts and the value of their recommendation

theories of investment, portfolio management and management of investment and risk

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.

Timeframe considerations may include:

competitors

legislative and regulatory requirements

market cycles

marketing strategy

procedures revision

release dates.

Information may include factors such as:

codes of practice

economic data

environmental considerations

internal comparisons

market situation

political situation

regulatory environment

social environment.

Research may be:

external

internal.