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 candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
follow operational procedures to meet compliance requirements regarding insurance contracts on at least three different occasions.
The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
legislative requirements and regulatory guidelines and codes of practice relevant to retail insurance products and retail clients and their application to the insurance broking role, including:
relevant sections of:
Corporations Act
Privacy Act and its data breach provisions
Insurance Contracts Act, and regulations in respect to insurance contracts
work health and safety requirements
organisational policies and procedures relating to meeting compliance requirements in insurance broking, and their role in compliance
roles and responsibilities of insurance broker and associated job roles, including underwriters, loss adjusters, risk surveyors, and risk managers
processes for monitoring changes to operational and regulatory requirements
key components of accepted codes of practice relating to broking role, including those relating to:
maintaining confidentiality
duty of care
ethical behaviours
non-discriminatory practices
conflict of interest
compliance with reasonable direction
key features of information management systems and software used to meet compliance requirements.
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
organisational equipment, technology, software and consumables
organisational records
legislation, regulations and codes of practice relevant to retail insurance products and retail clients.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.