Assessor Resource

FNSILD501A
Prepare a distribution plan

Assessment tool

Version 1.0
Issue Date: May 2024


This unit can be applied across the financial services sector and has application to those job positions which have the responsibility of taking products and services to markets. It 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 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.

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:

maintain knowledge of available products and services

determine business objectives, products and services

define markets and needs

identify and select distribution channels

establish performance measures

document plans.

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

setting and reviewing workplace projects and business simulations or scenarios.

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

well-developed communication skills to:

determine and confirm information, using questioning and active listening as required

delegating work

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform distribution planning

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

well-developed 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, report analysis and decision making

interpersonal skills

organisational skills, including the ability to plan and sequence work

Required knowledge

client profiles

distribution and marketing

expense ratios

human resource trends

markets to be served

planning processes

sales trends

sales/market mix

sales/production

relevant sources of advice

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.

Resources may include:

accommodation

equipment

finance

goodwill visibility

location

outstanding options

people.

Market includes:

any opportunity that is the object of a specific distribution approach.

Products or services may include:

advice on insurance

agreements with distributors

claims management

client lifetime value

compliance and regulatory matters

financial needs analysis

financial planning

general sector property or liability products

life sector products

negotiating terms with insurers/reinsurers

outsourcing options

placement of risks

premium financing

risk assessment

superannuation products

wholesaling of risks

other financial services.

Distribution channels analysis may include:

advisers

affinity groups

associations

brokers

direct response

electronic interface

existing clients

media

retail outlets

telemarketing

wholesale outlets.

Financial measures may include:

capital

cash flow

compensation arrangements

critical path

deadlines

delivery dates

expenditure

income

investment

lead times

leases

loans

milestones

service agreements

surplus

taxation and legal considerations.

Plan components may include:

analysis tools (e.g. SWOT)

formatting requirements

narrative.

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
The distribution aspects of the corporate strategic and business plans are identified 
Current situation is analysed to determine opportunities in accordance with corporate plans 
Desired financial resource and market parameters are identified and documented 
Objectives are developed by consultation with stakeholders 
Potential markets are identified and assessed within corporate strategy and philosophy with market groups clearly delineated 
Cost-benefit analysis results are within plan projections 
Likely future trends in selected markets are assessed 
Range of products or services to meet market needs and profit objectives are selected 
Current distribution channels are identified and their advantages and disadvantages are assessed 
Channels are chosen according to objective criteria 
Suitability of current structure for proposed distribution channels is evaluated against business objectives, potential markets and services to be provided 
Alternatives are assessed against business objectives, potential markets and services to be provided 
Financial measures are identified and documented 
Timeframes are established and processes to monitor performance outcomes determined and documented 
Plan components are integrated into an agreed format 
Plan is documented in a logical, concise and conclusive manner with sign-offs obtained from authorised personnel 

Forms

Assessment Cover Sheet

FNSILD501A - 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.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSILD501A - 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

Assessor name:

Signature:

Date:

Student signature:

Date: