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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

implement at least one new and one renewed program, each for a different insurance broking client.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative requirements, regulatory and brokerage guidelines relating to implementing insurance programs for insurance broking clients

organisational policies, procedures and authorities relating to implementing new and renewed insurance programs for broking clients, including for:

identifying client needs and objectives

gathering client information

completing risk assessments

maintaining client risk and program records

referring clients to specialist advisers

available insurance products, product types, and broking services and programs, and:

associated fees

charging methodologies

organisational and industry policy wording in developing recommendations for broking clients

key features of client risk assessment, including risk profile

roles and responsibilities of adviser or principal responsible for adviser’s conduct

methods for comparing researched products and completing associated cost-benefit analyses

regulatory requirements for providing advice to retail clients.

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)

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.

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
Establish client’s knowledge level and type of advice required
Identify client’s objectives according to organisational policies and procedures
Respond to enquiries for advice on new or renewed insurance program and explain program components
Gather client information according to organisational procedures to determine client risk profile
Complete risk assessment in compliance with brokerage guidelines and applicable legislative and regulatory requirements
Confirm effective dates for insurance changes with client
Maintain comprehensive records of risks assessed and actions taken according to regulatory requirements and organisational procedures
Check and review records regularly to ensure information is current
Research and recommend appropriate products based on product comparison and cost-benefit analysis
Identify and record required changes to program using information gathered
Compare new and additional risks with current insurance program so that discrepancies are clear
Consult client throughout analysis and seek advice about required changes within required timeframe
Determine need for specialist advice and refer client to appropriate adviser for higher level or specialist advice if required and according to organisational policies and procedures
Obtain client declarations as required by underwriter
Obtain terms to meet client requirements
Clarify terms required for renewal and change of client’s insurance with insurers
Advise clients about outcomes of negotiation with insurers to enable informed decisions
Clarify options for client that specify client benefits and disadvantages
Present justified recommendations clearly to clients, responding to questions as required
Obtain client instructions to enable precise action to be taken
Forward renewal notices to client according to organisational timeframe requirements
Explain fees and costs of ongoing service and confirm client understanding
Agree to type and form of ongoing service to be provided
Implement procedures for agreed ongoing service according to organisational policies and procedures

Assessment Cover Sheet

FNSIBK412 - Implement new and renewed insurance program for insurance broking clients

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

FNSIBK412 - Implement new and renewed insurance program for insurance broking clients

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: