• AURC341903A - Apply relevant finance, leasing and insurance contracts/policies

AURC341903A
Apply relevant finance, leasing and insurance contracts/policies

This unit of competency covers the competence required to determine the finance/leasing and insurance requirements of customers and complete documentation, taking into account legal requirements.

Application

This unit of competency applies to the following and should be contextualised to the qualification to which it is being applied:

retail, service and repair administration/sales vehicle sales - finance.


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

1. Identify finance/leasing options and documentation

1.1. Finance/leasing option is identified to meet specific needs of customer, including affordability and payment structure

1.2. A finance/leasing provider is identified

2. Apply finance/leasing documentation

2.1. Contracts and finance/leasing documents are completed and agreed/signed by customer

2.2. Legal requirements are identified and observed

3. Identify insurance policies and documentation

3.1. Type of insurance policy for customer is identified taking into account customer's requirements and insurance document and vehicle type and age

3.2. Insurance provider is chosen according to policy price, customer requirements and enterprise policies and procedures

4. Apply insurance documentation

4.1. Insurance contract/policy documentation is completed and agreed/signed by customer

4.2. Legal requirements are identified and observed

Required Skills

Required skills

collect, organise and understand information related to information from different insurance providers is collated

communicate ideas and information presented to the customer

plan and organise activities to obtain information for customers

work with others and in a team by consulting experienced/ specialised staff

use mathematical ideas and techniques to ensure variations in cover and cost are presented to the customer

establish diagnostic processes for recommendations made on information supplied by the customer

use workplace technology related to business technology to document insurance and finance information

Required knowledge

Knowledge of:

industry documents and how to maintain them

various types of finance/lease agreements

written communication

oral communication skills

various types of insurance policies

legal requirements

Evidence Required

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

It is essential that competence is fully observed and there is ability to transfer competence to changing circumstances and to respond to unusual situations in the critical aspects of:

correctly identifies and satisfies customer finance/ leasing and insurance requirements and completing documentation

interpreting and conveying workplace information

maintenance of workplace documents.

Context of and specific resources for assessment

The underpinning knowledge and skills may be assessed on or off the job.

The assessment of practical skills must take place only after a period of supervised practice and repetitive experience. If workplace conditions are not available assessment, in simulated workplace conditions is acceptable.

The prescribed outcome must be achieved without direct supervision.

The following should be made available:

a workplace or simulated workplace

finance and leasing agreements

insurance policies

documents and stationery

computer, calculator and general office equipment

a qualified workplace assessor.

Method of assessment

Practical assessments:

maintain industry documents

convey information both orally and in writing

access, interpret and apply finance/lease agreements

access, interpret and apply insurance policies

complete finance/leasing and insurance documentation.

Guidance information for assessment


Range Statement

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.

Methods

Methods include:

determining customer leasing/finance and/or insurance requirements and undertaking documentation procedures

written, oral, fax or email

Information/documents

Information/documents may include:

enterprise operating procedures

product manufacturer/component supplier specifications

customer requirements

industry/workplace codes of practice

Occupational health and safety (OHS) practices

OHS practices must abode by:

state/territory OHS legislation

award provisions


Sectors

Unit sector

Common


Employability Skills

This unit contains employability skills.


Licensing Information

Not Applicable