Assessor Resource

FNSILD501
Prepare a distribution plan

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to determine and prepare a distribution plan. It encompasses determining business objectives, defining markets and their needs, determining products and services, identifying and selecting distribution channels, establishing performance measures and documenting the plan.

It applies to experienced individuals who use specialised knowledge and skills to evaluate complex information and make recommendations relevant to strategic organisational activity.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine business objectives

1.1 Identify distribution aspects of corporate strategic and business plans

1.2 Analyse current situation to determine opportunities in accordance with corporate plans

1.3 Identify and document desired financial resource and market parameters

1.4 Develop objectives through consultation with stakeholders

2. Define markets and needs

2.1 Identify and assess potential markets within corporate strategy and philosophy, and clearly delineate market groups

2.2 Ensure cost-benefit analysis results are within plan projections

3. Determine products and services

3.1 Assess likely future trends in selected markets

3.2 Select a range of products or services to meet market needs and profit objectives

4. Identify and select distribution channels

4.1 Identify current distribution channels and assess their advantages and disadvantages

4.2 Choose channels according to objective criteria

5. Determine and establish enterprise structure

5.1 Evaluate suitability of current structure for proposed distribution channels against business objectives, potential markets and services to be provided

5.2 Assess alternatives against business objectives, potential markets and services to be provided

6. Establish performance measures

6.1 Identify and document financial measures

6.2 Establish timeframes, and determine and document processes to monitor performance outcomes

7. Document plan

7.1 Integrate plan components into agreed format

7.2 Document in logical, concise and conclusive manner and obtain sign-offs from authorised personnel

Evidence of the ability to:

conduct analysis of critical information required to develop a distribution plan including:

business objectives, products and services

markets and needs

distribution channels

performance measures

document distribution plan according to organisational requirements.

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:

analyse and describe key client profiles

discuss key features of distribution and marketing approaches

identify expense ratios

identify financial metrics relevant to monitoring performance of the distribution network

identify and explain human resource trends in the context of the life insurance industry

identify and describe key markets to be served

outline organisational planning processes to service the life insurance business

analyse and describe key:

sales trends

sales relating to market mix

sales relating to products

outline opportunities and strategies for maintaining and updating knowledge of available products and services.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance life distribution field of work and include access to:

common office equipment, technology, software and consumables

organisational records

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine business objectives

1.1 Identify distribution aspects of corporate strategic and business plans

1.2 Analyse current situation to determine opportunities in accordance with corporate plans

1.3 Identify and document desired financial resource and market parameters

1.4 Develop objectives through consultation with stakeholders

2. Define markets and needs

2.1 Identify and assess potential markets within corporate strategy and philosophy, and clearly delineate market groups

2.2 Ensure cost-benefit analysis results are within plan projections

3. Determine products and services

3.1 Assess likely future trends in selected markets

3.2 Select a range of products or services to meet market needs and profit objectives

4. Identify and select distribution channels

4.1 Identify current distribution channels and assess their advantages and disadvantages

4.2 Choose channels according to objective criteria

5. Determine and establish enterprise structure

5.1 Evaluate suitability of current structure for proposed distribution channels against business objectives, potential markets and services to be provided

5.2 Assess alternatives against business objectives, potential markets and services to be provided

6. Establish performance measures

6.1 Identify and document financial measures

6.2 Establish timeframes, and determine and document processes to monitor performance outcomes

7. Document plan

7.1 Integrate plan components into agreed format

7.2 Document in logical, concise and conclusive manner and obtain sign-offs from authorised personnel

Evidence of the ability to:

conduct analysis of critical information required to develop a distribution plan including:

business objectives, products and services

markets and needs

distribution channels

performance measures

document distribution plan according to organisational requirements.

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:

analyse and describe key client profiles

discuss key features of distribution and marketing approaches

identify expense ratios

identify financial metrics relevant to monitoring performance of the distribution network

identify and explain human resource trends in the context of the life insurance industry

identify and describe key markets to be served

outline organisational planning processes to service the life insurance business

analyse and describe key:

sales trends

sales relating to market mix

sales relating to products

outline opportunities and strategies for maintaining and updating knowledge of available products and services.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance life distribution field of work and include access to:

common office equipment, technology, software and consumables

organisational records

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.
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
Identify distribution aspects of corporate strategic and business plans 
Analyse current situation to determine opportunities in accordance with corporate plans 
Identify and document desired financial resource and market parameters 
Develop objectives through consultation with stakeholders 
Identify and assess potential markets within corporate strategy and philosophy, and clearly delineate market groups 
Ensure cost-benefit analysis results are within plan projections 
Assess likely future trends in selected markets 
Select a range of products or services to meet market needs and profit objectives 
Identify current distribution channels and assess their advantages and disadvantages 
Choose channels according to objective criteria 
Evaluate suitability of current structure for proposed distribution channels against business objectives, potential markets and services to be provided 
Assess alternatives against business objectives, potential markets and services to be provided 
Identify and document financial measures 
Establish timeframes, and determine and document processes to monitor performance outcomes 
Integrate plan components into agreed format 
Document in logical, concise and conclusive manner and obtain sign-offs from authorised personnel 

Forms

Assessment Cover Sheet

FNSILD501 - Prepare a distribution plan
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

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Result: Competent Not yet competent

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Assessment Record Sheet

FNSILD501 - Prepare a distribution plan

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

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Signature:

Date:

Student signature:

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