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

FNSMCA302A Mapping and Delivery Guide
Repossess property

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency FNSMCA302A - Repossess property
Description This unit describes the performance outcomes, skills and knowledge required to liaise with clients, debtors and external parties and apply legal and ethical requirements and principles in repossessing property.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Employability Skills This unit contains employability skills.
Learning Outcomes and Application This unit applies to mercantile agent job roles.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
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: Plan and prepare the repossession process
  • Client's written instructions are accurately and clearly interpreted
  • Repossession subject's whereabouts is determined and the location and realisable value of property is accurately established
       
Element: Negotiate repossession
  • Most appropriate means of communication is used to establish contact and build rapport with debtor and the reason for repossession clearly communicated to them
  • Terms of settlement of the debt are canvassed to find a mutually acceptable resolution where possible
       
Element: Repossess property
  • Plan for execution of repossession is formulated within legal avenues and client's parameters
  • Repossession is ethically arranged, facilitated and signed for on behalf of the client
  • Third party agents are engaged and oversighted in securing the property
       
Element: Formulate report
  • The condition of the property is accurately compiled and a full report on the repossession activity, disposal result and payment arrangements promptly provided to the client
  • Information gathered is synthesised into a coherent outcome for clear, concise documentation of outcomes and made accessible to all relevant staff
       


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.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

develop constructive responses when confronted with problems and difficulties

apply prior experience in problem solving when dealing with difficult situations in repossession of property

interpret and comply with current legal obligations, legislative requirements and general developments in the mercantile agents field

build and maintain rapport and trust with clients and liaise and cooperate with a variety of people

be aware of, and deal effectively with client and community concerns.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to relevant legislation and industry codes of practice in the mercantile agent field.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

observing processes and procedures in workplaces or role plays

verbal or written questioning on underpinning knowledge and skills

setting and reviewing workplace projects and business simulations or scenarios

accessing and validating third party reports.

Guidance information for assessment

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.

Required skills

communication skills to:

determine and confirm client property repossession requirements, using questioning and active listening as required

negotiate and use dispute resolution techniques and processes with debtors

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy skills to:

accurately analyse, record and store data in accordance with organisational requirements

calculate debt status and repossession values

literacy skills to:

read and interpret documentation from a variety of sources and recording, gathering and consolidating debtor information

draft reports and letters and complete repossession records

develop and implement repossession processes and underpinning legal and ethical principles and obligations

research skills using current techniques of searching and locating defaulters

IT skills for accessing and using appropriate software such as spreadsheets and databases and the internet in a collection agency or credit management context

organisational skills, including the ability to plan and sequence work

Required knowledge

all relevant State and Commonwealth Acts

business principles, financial arrangements and legal obligations of:

sole traders

partnerships

companies

principles and procedures of:

repossession

notices of intention

authority to repossess

methods of repossession

ethical practices in repossession

post-repossession

principles of association under the Associations Incorporation Act

role of the Australian Securities and Investments Commission (ASIC) in relation to:

businesses

principles of limited liability

principles of mortgaging

insolvency/ bankruptcy

liquidation

role, procedures and relevant documentation of the various relevant court jurisdictions and appeals procedures

securities and loans principles: factoring, guarantees, indemnity, securities over property, retention of title, liens

techniques of search and locating defaulters

types and principles and obligation of trusts

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Clients may include:

banks

building societies

credit unions

employers:

managers

supervisors

team leaders

finance companies

financiers

government agencies

other commercial agents

private companies

solicitors.

Property may include:

business premises

leased, purchased or hire purchased goods of all sorts such as:

cars

trucks

motorcycles

real estate.

Means of communication may include:

personal discussions with debtors

telephone calls

written advice to debtors who have a history of debt and require formal procedures.

Third party agents may include:

ambulance

emergency housing agencies

furniture removalists

locksmiths

police

real estate agent

RSPCA

sheriff

solicitor.

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
Client's written instructions are accurately and clearly interpreted 
Repossession subject's whereabouts is determined and the location and realisable value of property is accurately established 
Most appropriate means of communication is used to establish contact and build rapport with debtor and the reason for repossession clearly communicated to them 
Terms of settlement of the debt are canvassed to find a mutually acceptable resolution where possible 
Plan for execution of repossession is formulated within legal avenues and client's parameters 
Repossession is ethically arranged, facilitated and signed for on behalf of the client 
Third party agents are engaged and oversighted in securing the property 
The condition of the property is accurately compiled and a full report on the repossession activity, disposal result and payment arrangements promptly provided to the client 
Information gathered is synthesised into a coherent outcome for clear, concise documentation of outcomes and made accessible to all relevant staff 

Forms

Assessment Cover Sheet

FNSMCA302A - Repossess property
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

FNSMCA302A - Repossess property

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: