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.
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Establish relationship with customers | 1.1 Attend to customer enquiries in a timely and courteous manner 1.2 Demonstrate active listening skills in dealing with customer enquiries and provide help and assistance to ensure full and accurate completion of initial documentation, where required |
2. Identify customer needs | 2.1 Examine, where applicable, initial documentation to determine products and services of interest to customers 2.2 Undertake clear and unambiguous communication with customers to determine and clarify products and services of interest to them 2.3 Inform customers clearly of the regulatory restrictions on providing financial products advice 2.4 Request information from customers to determine their needs, ensuring that information gathered is for the purposes of provision of general advice only 2.5 Identify requests for information, advice, products or services that fall outside the organisation’s scope of operation and inform customers where such information, advice, products or services can be obtained, where possible 2.6 Explain the range of products and services available to customers in a clear and unambiguous way, avoiding jargon and in language appropriate to receiver |
3. Identify general advice boundaries of product and service | 3.1 Analyse the range of products and services of interest to customers to determine their categorisation is general advice, in line with legislation and organisational policy 3.2 Refer customers to appropriate specialist personnel where requested advice is deemed to fall outside category of general advice |
4. Provide general advice to customers | 4.1 Assist customers to make informed choices on products and services using relevant documentation 4.2 Provide general advice to customers in strict accordance with regulatory restrictions, organisational policy and organisational tools 4.3 Demonstrate product knowledge appropriate for service or advice offered when providing advice to customers 4.4 Explain and discuss recommendations with customers in a clear and unambiguous way |
Evidence of the ability to:
create rapport with customers and analyse their needs to identify appropriate provision of advice
provide general advice to customers in compliance with relevant legislation and organisational policy and procedures.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the unit requirements safely and effectively, the individual must:
explain the difference between the provision of general advice and personal advice
describe key requirements of relevant legislation affecting the industry, particularly Australian Securities and Investments Commission (ASIC) policy statements relating to financial product advisory services
describe organisational policy and guidelines related to the provision of general advice
provide an overview of the characteristics of current products and services available in the industry that are NOT specified in accordance with ASIC regulations and do not require Tier 1 or 2 status
outline key features of relevant organisational documentation, including brochures and fact sheets
explain the role of different advisers within the organisation and industry.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the industry advice field of work and include access to:
common office equipment, technology, software and consumables
financial services product information.
Assessors must satisfy NVR/AQTF assessor requirements.