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

FNSSAM501 Mapping and Delivery Guide
Apply advanced selling techniques to selling of financial products and services

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSSAM501 - Apply advanced selling techniques to selling of financial products and services
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to develop a sales strategy using advanced techniques and to monitor and evaluate its success.It applies to individuals who, while working under supervision, have responsibility and show leadership in initiating and developing strategic activities for a team or organisation.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 sales and marketing field of work and include access to:

financial services product information

a relevant software system and data

organisational policy and procedures

common office equipment, technology, software and consumables.

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: Identify products or services that would benefit from focused sales approach
  • Identify appropriate products and services on basis of client needs, particularly where needs are not adequately met by current approaches
  • Generate and discuss ideas for special approach to selling these products and services and satisfying client needs with colleagues and selected clients
  • Carry out checks to identify if sales enquiries are within staff personal authorities and where not, refer to appropriate personnel
       
Element: Develop approach to selling product or service
  • Discuss, develop and revise possible product or service selling approaches with others and select most useful approach for trial
  • Undertake checks to see that selling approach complies with organisational policy and procedures, and relevant legislation
  • Develop selling script and train salespeople in approach for intended market segment
       
Element: Pilot approach
  • Trial and review selling approach based on results of pilot
  • Document and present approach to appropriate personnel for approval
       
Element: Evaluate approach
  • Develop criteria for evaluation of selling approach
  • Collect sales and other relevant data and evaluate plan on basis of data
  • Document results and use to determine future sales strategies
       


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. Identify products or services that would benefit from focused sales approach

1.1 Identify appropriate products and services on basis of client needs, particularly where needs are not adequately met by current approaches

1.2 Generate and discuss ideas for special approach to selling these products and services and satisfying client needs with colleagues and selected clients

1.3 Carry out checks to identify if sales enquiries are within staff personal authorities and where not, refer to appropriate personnel

2. Develop approach to selling product or service

2.1 Discuss, develop and revise possible product or service selling approaches with others and select most useful approach for trial

2.2 Undertake checks to see that selling approach complies with organisational policy and procedures, and relevant legislation

2.3 Develop selling script and train salespeople in approach for intended market segment

3. Pilot approach

3.1 Trial and review selling approach based on results of pilot

3.2 Document and present approach to appropriate personnel for approval

4. Evaluate approach

4.1 Develop criteria for evaluation of selling approach

4.2 Collect sales and other relevant data and evaluate plan on basis of data

4.3 Document results and use to determine future sales strategies

Evidence of the ability to:

develop an effective approach to selling financial services products and services

apply high level analytical skills to identify appropriate products and services, develop new selling ideas, pilot them and evaluate their success

complete relevant documentation according to organisational policy and procedures.

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:

analyse and discuss the key features of a range of advanced selling techniques and successful selling approaches

outline the strengths and weaknesses of financial product or service evaluation techniques

evaluate techniques for generating new and innovative ideas

outline approaches to effectively training salespeople.

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. Identify products or services that would benefit from focused sales approach

1.1 Identify appropriate products and services on basis of client needs, particularly where needs are not adequately met by current approaches

1.2 Generate and discuss ideas for special approach to selling these products and services and satisfying client needs with colleagues and selected clients

1.3 Carry out checks to identify if sales enquiries are within staff personal authorities and where not, refer to appropriate personnel

2. Develop approach to selling product or service

2.1 Discuss, develop and revise possible product or service selling approaches with others and select most useful approach for trial

2.2 Undertake checks to see that selling approach complies with organisational policy and procedures, and relevant legislation

2.3 Develop selling script and train salespeople in approach for intended market segment

3. Pilot approach

3.1 Trial and review selling approach based on results of pilot

3.2 Document and present approach to appropriate personnel for approval

4. Evaluate approach

4.1 Develop criteria for evaluation of selling approach

4.2 Collect sales and other relevant data and evaluate plan on basis of data

4.3 Document results and use to determine future sales strategies

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 appropriate products and services on basis of client needs, particularly where needs are not adequately met by current approaches 
Generate and discuss ideas for special approach to selling these products and services and satisfying client needs with colleagues and selected clients 
Carry out checks to identify if sales enquiries are within staff personal authorities and where not, refer to appropriate personnel 
Discuss, develop and revise possible product or service selling approaches with others and select most useful approach for trial 
Undertake checks to see that selling approach complies with organisational policy and procedures, and relevant legislation 
Develop selling script and train salespeople in approach for intended market segment 
Trial and review selling approach based on results of pilot 
Document and present approach to appropriate personnel for approval 
Develop criteria for evaluation of selling approach 
Collect sales and other relevant data and evaluate plan on basis of data 
Document results and use to determine future sales strategies 

Forms

Assessment Cover Sheet

FNSSAM501 - Apply advanced selling techniques to selling of financial products and services
Assessment task 1: [title]

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I declare that the assessment tasks submitted for this unit are my own work.

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Assessment Record Sheet

FNSSAM501 - Apply advanced selling techniques to selling of financial products and services

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Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

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Overall assessment result: Competent Not yet competent

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