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

FNSFMK601 Mapping and Delivery Guide
Price financial transactions

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSFMK601 - Price financial transactions
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to compile and analyse financial information and data to determine the price of financial products and record financial transactions.It applies to individuals who use specialised financial knowledge, systematic approaches and analytical skills to meet requirements. 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 financial markets field of work and include access to:

office equipment, technology, software and consumables

financial services product information

dealing system and data.

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: Compile and analyse financial information and data
  • Identify sources of financial data relating to financial products and financial markets for analysis purposes and collect according to organisational practices
  • Analyse financial data using standard financial market investment concepts to evaluate current market position and review this data against selected financial products
       
Element: Calculate transaction price
  • Formulate financial transaction price using standard organisational practices and taking into account a range of organisational price impacts
  • Review price calculated against client requirements and adjust as required
  • Advise client of financial transaction price in accordance with organisational guidelines
       
Element: Record financial transaction
  • Confirm client acceptance of financial transaction price according to organisation requirements and complete relevant transaction documentation as necessary
  • Enter all transaction details into organisation’s dealing systems
  • Report details of transaction to authorised trade repository where required by regulation
       


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. Compile and analyse financial information and data

1.1 Identify sources of financial data relating to financial products and financial markets for analysis purposes and collect according to organisational practices

1.2 Analyse financial data using standard financial market investment concepts to evaluate current market position and review this data against selected financial products

2. Calculate transaction price

2.1 Formulate financial transaction price using standard organisational practices and taking into account a range of organisational price impacts

2.2 Review price calculated against client requirements and adjust as required

2.3 Advise client of financial transaction price in accordance with organisational guidelines

3. Record financial transaction

3.1 Confirm client acceptance of financial transaction price according to organisation requirements and complete relevant transaction documentation as necessary

3.2 Enter all transaction details into organisation’s dealing systems

3.3 Report details of transaction to authorised trade repository where required by regulation

Evidence of the ability to:

compile financial information and data, and analyse to determine price impacts

calculate financial prices

record financial transactions.

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:

compare and contrast the range of financial market products that can be traded

assess the impact of the following key economic features on pricing financial products:

economic and business cycles

monetary and fiscal policies

interest rates, exchange rates and inflation

describe key features of financial markets operating software systems

analyse and discuss issues relating to risk and implications of financial positions

describe relevant mathematical principles and methodologies for pricing financial products and transactions.

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. Compile and analyse financial information and data

1.1 Identify sources of financial data relating to financial products and financial markets for analysis purposes and collect according to organisational practices

1.2 Analyse financial data using standard financial market investment concepts to evaluate current market position and review this data against selected financial products

2. Calculate transaction price

2.1 Formulate financial transaction price using standard organisational practices and taking into account a range of organisational price impacts

2.2 Review price calculated against client requirements and adjust as required

2.3 Advise client of financial transaction price in accordance with organisational guidelines

3. Record financial transaction

3.1 Confirm client acceptance of financial transaction price according to organisation requirements and complete relevant transaction documentation as necessary

3.2 Enter all transaction details into organisation’s dealing systems

3.3 Report details of transaction to authorised trade repository where required by regulation

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
Identify sources of financial data relating to financial products and financial markets for analysis purposes and collect according to organisational practices 
Analyse financial data using standard financial market investment concepts to evaluate current market position and review this data against selected financial products 
Formulate financial transaction price using standard organisational practices and taking into account a range of organisational price impacts 
Review price calculated against client requirements and adjust as required 
Advise client of financial transaction price in accordance with organisational guidelines 
Confirm client acceptance of financial transaction price according to organisation requirements and complete relevant transaction documentation as necessary 
Enter all transaction details into organisation’s dealing systems 
Report details of transaction to authorised trade repository where required by regulation 

Forms

Assessment Cover Sheet

FNSFMK601 - Price financial transactions
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

FNSFMK601 - Price financial transactions

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: