Required skills

welldeveloped communication skills to

determine and confirm client requirements using questioning and active listening as required

build rapport with the client and clearly explain recommended product features advantages and disadvantages

liaise with others share information listen and understand

use language and concepts appropriate to cultural differences

customer service skills such as

providing appropriate contact with client throughout the broking procedure

presenting information in a variety of formats to ensure understanding

appropriate timing of events in the broking process

research and analysis for accessing interpreting and managing complex information and analysing client needs and product features

numeracy and IT skills to

access and use appropriate software to determine loan terms interest rates payments and other relevant information plus spreadsheets and databases

calculate client debt and risk quickly and accurately

access internet information

literacy skills to

read and interpret organisational and industry information

prepare client records and related documentation

organisational skills including the ability to plan and sequence work

Required knowledge

basic accounting and mathematical techniques to calculate

interest rates

mortgage payments

other relevant terms of a loan

government grants such as

First Home Buyer assistance packages

special assistance for disadvantaged or low income earners

others that are current and relevant at the time of client interest

negotiation techniques

presentation techniques including technology supported

products and services provided by the organisations appropriate lenders

relevant fees charges and commissions

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

identify relevant information based on industry and product knowledge and match it to client needs

present information to clients effectively

negotiate effectively and gain commitment from a client

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 lending product information

access to relevant software system and data

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

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Additional industry information may include:

A format for presenting information may include:

Products and product features may include:

for finance brokers specifically:

Fees, charges and commissions may include:

taxes and payments to secure a property

Strategic and commercial relationships may include:

Client concerns may include:

Implementation actions may include: