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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Identify products and services organisation uses
   • Identify products and services used by organisation or sector and determine their purpose
   • Identify characteristics of products and services and their strengths, weaknesses, terms and conditions
   • Communicate clearly to clients the characteristics of products and services
   • Access and apply organisation’s promotional strategy for products and services in business activities
2. Identify compliance implications of product
   • Establish and document compliance implications
   • Provide client with all necessary information and documentation as per compliance requirements
3. Determine appropriate users for products and services
   • Identify and document function of each product and service, and client needs it satisfies
   • Determine client characteristics that best suit each product
   • Compare products and services used by organisation or sector with products of competitors
   • Determine most effective approach to matching products to client needs
   • Evaluate approaches to selling products and services in competitive marketplace
   • Determine effective approaches to meeting client needs
4. Maintain product knowledge
   • Review relevant products and services regularly and apply any changes to terms and conditions in daily work
   • Establish and use systems for keeping up with changes and maintaining up-to-date knowledge about relevant products and services
   • Review emerging trends affecting the financial services industry and apply to product and service knowledge

Performance Evidence

Evidence of the ability to:

develop and use systems to maintain currency of knowledge of financial products, compliance and client characteristics.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain systems that can be accessed to obtain up-to-date information on products, services and competition

describe the products and services used by the organisation or sector and their purpose

describe products and services used by competitors that are similar to those of the organisation

explain different marketing methods and approaches to promoting or selling financial products and services

identify organisational policy in terms of promotional and marketing strategies

describe ethical and regulatory conditions that must be adhered to in promoting products and services to clients

outline general client characteristics and needs for the organisation or sector.

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