Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
FNSFLT205 Mapping and Delivery Guide
Develop knowledge of the Australian financial system and markets
Version 1.0
Issue Date: May 2024
Qualification | - |
Unit of Competency | FNSFLT205 - Develop knowledge of the Australian financial system and markets |
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Description | |||
Employability Skills | |||
Learning Outcomes and Application | This unit describes the skills and knowledge required to understand the financial systems and markets operating in Australia, including identifying the main participants in financial markets, the role of the central bank, the impact of its decisions on business and consumers, key factors that influence the Australian economy and the role of financial regulators. It has wide application and may be used in workplaces, schools, adult and community learning organisations or registered training organisations to build the financial literacy of learners. The unit may also be used as part of pre-vocational or new apprenticeship programs, or as part of services provided by counselling or advisory organisations.It applies to individuals who research information to develop personal financial literacy knowledge and skills.No licensing, legislative or certification requirements apply to this unit at the time of publication. | ||
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 literacy field and include access to: office equipment, technology, software and consumables information about Australia’s financial system and other markets, basic economics and other relevant resources. 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: Describe what is meant by Australian financial markets |
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Element: Explain function and role of Reserve Bank of Australia (RBA) |
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Element: Explain Australia’s monetary system |
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Element: Explain key factors that influence the Australian economy |
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Element: Describe role of regulators |
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Element: Explain Australia’s monetary system |
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