Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
FNSFLT503A Mapping and Delivery Guide
Promote basic financial literacy skills
Version 1.0
Issue Date: May 2024
Qualification | - |
Unit of Competency | FNSFLT503A - Promote basic financial literacy skills |
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Description | This unit describes the performance outcomes, skills and knowledge required to develop customer's basic financial literacy skills necessary to make informed financial decisions including the need and purpose of bank accounts, basic savings and investment principles, risk and return, and the role of insurance and superannuation.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement. | ||
Employability Skills | This unit contains employability skills. | ||
Learning Outcomes and Application | This unit may be applied within a financial counselling role or within lending roles within various financial institutions. It is particularly aimed at addressing the need for financial literacy among those with a limited understanding of the financial system who are possibly at a disadvantage when making decisions about the use and management of money. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. |
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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: Identify extent of customer's financial awareness |
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Element: Discuss methods available for spending and saving money |
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Element: Discuss basic money management principles |
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Element: Discuss the role of other forms of savings and investment options |
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