Assessor Resource

FNSIBK405A
Meet industry and legislative guidelines and organisational procedures relating to insurance broking

Assessment tool

Version 1.0
Issue Date: April 2024


This unit applies to insurance broking roles and may be applied within organisations of various sizes and across a range of customer bases.

This unit describes the performance outcomes, skills and knowledge required to apply industry and organisation procedures, guidelines, policies and standards in a daily work context within an insurance broking business. It encompasses professional development and training activities to maintain and transfer knowledge into practice.

This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).

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 ability to:

implement operational procedures to meet compliance requirements from financial services industry regulations and other legislation

interpret and comply with organisation policy and procedures, relevant legislation and insurance broking codes of practice

perform work within a quality customer service environment.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the 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

access to organisation records

access to organisational policies and procedures.

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

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment


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.

Required skills

communication skills to:

determine and confirm information, using questioning and active listening techniques

liaise with others, share information, listen and understand

prepare clear written communication

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform calculations related to achieving required outcomes

use computer applications (word processing, spreadsheet, database, specific purpose computer systems) to assist in achieving required outcomes

access and update records electronically

access web-based information services

literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information

research and analysis skills for accessing and interpreting relevant information

interpersonal skills

organisational skills, including the ability to plan and sequence work

Required knowledge

general insurance and insurance broker's codes of practice

relevant legislation and statutory requirements

relevant industry and organisation policies and procedures

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.

Legislative, industry and brokerage guidelines and procedures may include:

anti-discrimination legislation

best practice guidelines

organisation codes of practice

complaint handling procedures

customer services standards

Financial Services Reform Act (FSRA) and ASIC regulatory guides on adviser conduct

induction program

Insurance Broker Code of Practice

Insurance Contracts Act

occupational health and safety (OHS) legislation

Privacy Act

procedures and/or operating manuals

training plans.

Work tasks may include:

broking advisory work

claims or policy administration

initial customer service

internal administration and support.

Appropriate personnel may include:

colleagues

compliance officers

managers or supervisors

senior broking or management staff.

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
Effects on role of legislative, industry and brokerage guidelines and procedures are determined 
Up-to-date checklist of operational procedures is maintained and observed 
Work tasks are carried out in accordance with specific organisation policy, guidelines and procedures 
Regulations, codes and procedures set out in organisation compliance manuals in relation to the provision of information, retail and other advice are complied with 
Insurance and insurance broking codes of practice are used to guide an ethical approach to workplace practice and decisions 
Assistance in clarifying the application of the guidelines, procedures and legislation is sought from appropriate personnel where necessary 
Training needs and goals are identified and reviewed on a regular basis 
Competency, authorisation and licensing requirements are clarified 
Professional development opportunities that reflect needs and goals are sought and completed in an agreed upon timeframe 

Forms

Assessment Cover Sheet

FNSIBK405A - Meet industry and legislative guidelines and organisational procedures relating to insurance broking
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

FNSIBK405A - Meet industry and legislative guidelines and organisational procedures relating to insurance broking

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: