Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSCRD301 Mapping and Delivery Guide
Process applications for credit

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSCRD301 - Process applications for credit
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to apply product knowledge and advisory skills to identify, confirm and process applications for credit prior to assessment in accordance with organisational and legislative requirements.It applies to individuals who occupy entry level positions and work cooperatively in a team environment under the supervision of managers or team leaders.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 the relevant regulator 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 credit management field of work and include access to:

common office equipment, technology and consumables

credit product information

relevant software systems and data

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.
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
Elements of Competency Performance Criteria              
Element: Check and verify application details
  • Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures
  • Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines
       
Element: Submit assessment and decision
  • Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application
  • Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel
  • Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security
  • Forward recommendations to relevant personnel promptly in accordance with organisational procedures
       
Element: Maintain application records and complete necessary documentation
  • Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures
  • Monitor and record file movements
  • Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes
       


Evidence Required

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. Check and verify application details

1.1 Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures

1.2 Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines

2. Submit assessment and decision

2.1 Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application

2.2 Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel

2.3 Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security

2.4 Forward recommendations to relevant personnel promptly in accordance with organisational procedures

3. Maintain application records and complete necessary documentation

3.1 Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures

3.2 Monitor and record file movements

3.3 Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes

Evidence of the ability to:

check the application details thoroughly to ensure accuracy

assess applications following legislative requirements, industry codes of practice and organisational credit policy and procedures

use relevant data entry, office equipment and software to accurately process applications.

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:

list the features of credit products and their application requirements

identify ways of obtaining and checking relevant information from applicants

explain key features of organisational policy and procedures that relate to credit assessments, security and customer service

explain the key purpose of relevant credit legislation, statutory requirements and codes of practice, covering:

consumer credit

personal property securities

privacy

explain types of security.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Check and verify application details

1.1 Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures

1.2 Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines

2. Submit assessment and decision

2.1 Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application

2.2 Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel

2.3 Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security

2.4 Forward recommendations to relevant personnel promptly in accordance with organisational procedures

3. Maintain application records and complete necessary documentation

3.1 Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures

3.2 Monitor and record file movements

3.3 Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures 
Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines 
Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application 
Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel 
Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security 
Forward recommendations to relevant personnel promptly in accordance with organisational procedures 
Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures 
Monitor and record file movements 
Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes 

Forms

Assessment Cover Sheet

FNSCRD301 - Process applications for credit
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSCRD301 - Process applications for credit

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: