Assessor Resource

FNSSAM401A
Sell financial products and services

Assessment tool

Version 1.0
Issue Date: May 2024


This unit may be applied in a call centre, face-to-face or on the basis of written documentation in any financial services industry sector.

This unit describes the performance outcomes, skills and knowledge required to present a sales solution and close a sale in response to a customer enquiry.

This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.

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:

interact with customers, collect the necessary information and match customers' needs to company products or service

sell products and services including matching customers' requirements to company products and services and finalise and record the sale.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services 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 financial services product information.

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 or role plays

verbal or written questioning on underpinning knowledge and skills

setting and reviewing business simulations or scenarios

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 client requirements, using questioning and active listening as required

sell products and services

refer clients and liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

IT skills for accessing and using appropriate software such as spreadsheets and databases and using internet information

literacy skills for analysing information and products to ensure appropriateness to client needs, currency and accuracy

interpersonal skills to establish rapport with clients and to liaise with other team members

problem solving skills to address client product or service issues

teamwork skills

organisational skills, including the ability to plan and sequence work

Required knowledge

basic structure and operation of the financial services industry

company policies and procedures for interacting with customers and solving problems

relevant legislation and regulations impacting on the financial services industry

selling techniques

the range of products and services available from an organisation including terms, interest rates, special packages and other conditions

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.

Products and/or services may include:

banking

insurance

investment

loans

other services

savings

superannuation.

Information may include:

business records

financial status

personal details

previous history with the company or other companies.

Legislation, regulations and codes of practice may include:

anti-discrimination legislation

Australian Prudential Regulation Authority (APRA)

business names legislation

Consumer Credit Code

Corporations Act (including Accounting Standards)

Electronic Funds Transfer (EFT) Code of Conduct

Finance Code

Financial Services Reform Act (FSRA)

Financial Transaction Reports Act

industry codes of practice

Privacy Act

taxation law.

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
Rapport with the customer and the reason for the enquiry are established to allow a suitable response 
Needs of the customer are determined by questioning 
Check is carried out to see whether the enquiry is within personal authorities or should be referred to appropriate personnel 
Products and/or services that might satisfy the customer's needs are identified 
All information required to determine the eligibility of the customer for the product or service is obtained with predetermined risk assessment criteria applied in accordance with product or service requirements 
Business proposal is prepared in compliance with legislation, regulations and codes of practice and personal authorities and if the business proposal is outside the defined guidelines, it is referred to appropriate personnel for further action 
Business proposal is presented to the customer and all product information is supplied 
Customer queries are discussed and proposal clarified if required with follow-up arrangements made 
Suitability of product and price are confirmed with the customer and agreement to proceed with the sale is obtained 
Documentation is issued in accordance with organisation policy and procedures 
Payment details are processed without delay and record systems updated promptly and accurately 

Forms

Assessment Cover Sheet

FNSSAM401A - Sell financial products and services
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

FNSSAM401A - Sell financial products and services

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: