Required skills

communication skills to

clearly explain the Australian financial system and markets tocustomers and customers using questioning and active listening as required and respondingwith empathy in sensitive cases

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

IT skills touse internet information

literacy skills for

analysing information to ensure appropriateness to customer or customer needs currency and accuracy

drafting documents for customers and customers

problem solving skills to identify any issues that have the potential to impact on the customers understanding and develop options

organisational skills including the ability to plan and sequence work

Required knowledge

the Australian financial system and markets and State of the economic environment

relevant industry codes of practice including

Consumer Credit Code

Privacy Act

Credit Act

relevant State and Territory legislation regarding consumer credit issues and Judgement Debt Recovery Acts

roles and relationships between participants within the Australian financial services industry including banks and other financial intermediaries

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

develop customer awareness of the features and roles of the participants within the Australian financial system and markets

translate complex information into plain language that may be understood by a variety of people with minimal financial market knowledge

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 Australian financial systemand markets 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 workplace projects and business simulations or scenarios

Guidance information for assessment

The role of the RBA includes:

The effect of the RBA's monetary policy may include:

Maintaining financial stability refers to:

The role of the RBA in regulating the Australian Payments System may include:

Motivations for holding money may include:

The functions of money may include:

Thepurpose of financial markets includes:

The major markets within the Australian financial system include:

Instruments traded on the short term money market include:

Main regulators in the financial system may include: