Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
FNSASICQ503 Mapping and Delivery Guide
Provide advice in first home saver market linked accounts
Version 1.0
Issue Date: April 2024
Qualification | - |
Unit of Competency | FNSASICQ503 - Provide advice in first home saver market linked accounts |
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Description | |||
Employability Skills | |||
Learning Outcomes and Application | This unit describes the skills and knowledge required to analyse client needs and provide advice ethically and professionally relating to first home saver market linked accounts, in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.It applies to individuals who analyse client needs, provide financial products and service advice to clients, and assess the impacts of taxation on clients’ financial requirements. Discharging these duties requires well-developed interpersonal skills, proficient communication skills and a range of self-management skills.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or ASIC for specific guidance on requirements. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial services and products advice field of work and include access to: office equipment, technology, software and consumables financial services first home saver market linked accounts product information. Assessors must satisfy NVR/AQTF assessor requirements. |
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Prerequisites/co-requisites | |||
Competency Field |
Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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Elements of Competency | Performance Criteria | |||||||
Element: Establish relationship with client and identify client’s objectives, needs and financial situation |
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Element: Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions |
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Element: Present appropriate strategies and solutions to client and negotiate financial plan, policy or transaction |
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Element: Agree to plan, policy or transaction and complete documentation |
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Element: Provide ongoing service where requested by client |
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Element: Establish relationship with client and identify client’s objectives, needs and financial situation |
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Element: Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions |
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