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. Access information needed to determine fit between financial product and customer | 1.1 Gather and assess information on customer profile and requirements, characteristics, financial status, timelines and other needs 1.2 Consider and, if necessary, research most appropriate products and services used or provided by organisation based on customer stated requirements in terms of features, benefits, terms and conditions, and other factors |
2. Determine most suitable options to meet customer requirements | 2.1 Determine most suitable option, or number of options, for discussion and recommendation with customer 2.2 Establish and document customer negotiation periods in line with organisational policy and relevant legislative requirements 2.3 Discuss options with manager or other appropriate personnel, if necessary |
3. Present selected options to customer | 3.1 Present options to customer and explain all features, benefits, negotiation periods, and terms and conditions 3.2 Provide customer with further information if requested and answer all questions 3.3 Provide customer with all support needed to clarify information presented 3.4 Seek additional information where relevant to determine whether there are other needs that could be met by organisation |
Evidence of the ability to:
assess a wide range of financial services, products and features to suit customer requirements
present product or service options to customers and negotiate sales.
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:
describe the key features of organisational policy and procedures and terms and conditions relating to provision of financial services and products
describe how to access and interpret support information, materials, relevant brochures and other appropriate information
compare and contrast products and services offered by the financial services industry as a whole
compare and contrast products and services offered by the organisation, including specific benefits and features of products and services
describe the key industry and legislative requirements applicable to specific products, services and situations
explain the purpose and requirements of customer negotiation periods in line with relevant legislation.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the sales and marketing field of work and include access to:
financial services product information
relevant software system and data
organisational policy and procedures
common office equipment, technology, software and consumables.
Assessors must satisfy NVR/AQTF assessor requirements.