NTISthis.com

Evidence Guide: CHCFIN002 - Identify and apply technical information to assist clients with financial issues

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

CHCFIN002 - Identify and apply technical information to assist clients with financial issues

What evidence can you provide to prove your understanding of each of the following citeria?

Elements define the essential outcomes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review client income sources

  1. Source and review available information about client income
  2. Identify potential income sources and entitlements for client
  3. Identify and inform client of potential for additional or different income sources or entitlements to improve their financial situation
Source and review available information about client income

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential income sources and entitlements for client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and inform client of potential for additional or different income sources or entitlements to improve their financial situation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure client is receiving appropriate information regarding living expenses

  1. Assist the client to review and document their approach to managing living expenses
  2. Identify client’s options and rights for managing living expenses
  3. Provide additional information to address gaps in client knowledge about living expenses and available support
Assist the client to review and document their approach to managing living expenses

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify client’s options and rights for managing living expenses

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide additional information to address gaps in client knowledge about living expenses and available support

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Facilitate client understanding of consumer protections and their legal rights

  1. Clarify client’s understanding of their rights regarding legal and consumer protection
  2. Discuss identified legal and consumer protection issues to highlight key areas that may require action
  3. Provide additional information to address gaps in client knowledge about their rights in relevant legal and consumer protection areas
  4. Identify and provide appropriate opportunities for referral where required
Clarify client’s understanding of their rights regarding legal and consumer protection

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discuss identified legal and consumer protection issues to highlight key areas that may require action

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide additional information to address gaps in client knowledge about their rights in relevant legal and consumer protection areas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and provide appropriate opportunities for referral where required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate types of debt presented by client

  1. Review contracts and associated documentation to clarify validity of client debt
  2. Review areas of client debt and seek further information to clarify types of debt and the stage of the debt
  3. Provide information to assist client to understand the implications of different types of debt that may be impacting on them
Review contracts and associated documentation to clarify validity of client debt

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review areas of client debt and seek further information to clarify types of debt and the stage of the debt

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide information to assist client to understand the implications of different types of debt that may be impacting on them

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify options in regard to debt and debt recovery

  1. Identify impact of debt and debt recovery processes on client and their financial situation
  2. Review a range of options relevant to debt and debt recovery and identify potential consequences in relation to the client and their financial situation
  3. Identify appropriate strategies for debt management to address client’s particular situation
Identify impact of debt and debt recovery processes on client and their financial situation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review a range of options relevant to debt and debt recovery and identify potential consequences in relation to the client and their financial situation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify appropriate strategies for debt management to address client’s particular situation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify appropriate referral and support services

  1. Proactively identify and assess type of support services needed by client based on analysis of financial information
  2. Provide current and accurate information about, and refer client to, services to address client needs
Proactively identify and assess type of support services needed by client based on analysis of financial information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide current and accurate information about, and refer client to, services to address client needs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements define the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Review client income sources

1.1 Source and review available information about client income

1.2 Identify potential income sources and entitlements for client

1.3 Identify and inform client of potential for additional or different income sources or entitlements to improve their financial situation

2. Ensure client is receiving appropriate information regarding living expenses

2.1 Assist the client to review and document their approach to managing living expenses

2.2 Identify client’s options and rights for managing living expenses

2.3 Provide additional information to address gaps in client knowledge about living expenses and available support

3. Facilitate client understanding of consumer protections and their legal rights

3.1 Clarify client’s understanding of their rights regarding legal and consumer protection

3.2 Discuss identified legal and consumer protection issues to highlight key areas that may require action

3.3 Provide additional information to address gaps in client knowledge about their rights in relevant legal and consumer protection areas

3.4 Identify and provide appropriate opportunities for referral where required

4. Evaluate types of debt presented by client

4.1 Review contracts and associated documentation to clarify validity of client debt

4.2 Review areas of client debt and seek further information to clarify types of debt and the stage of the debt

4.3 Provide information to assist client to understand the implications of different types of debt that may be impacting on them

5. Identify options in regard to debt and debt recovery

5.1 Identify impact of debt and debt recovery processes on client and their financial situation

5.2 Review a range of options relevant to debt and debt recovery and identify potential consequences in relation to the client and their financial situation

5.3 Identify appropriate strategies for debt management to address client’s particular situation

6. Identify appropriate referral and support services

6.1 Proactively identify and assess type of support services needed by client based on analysis of financial information

6.2 Provide current and accurate information about, and refer client to, services to address client needs

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements define the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Review client income sources

1.1 Source and review available information about client income

1.2 Identify potential income sources and entitlements for client

1.3 Identify and inform client of potential for additional or different income sources or entitlements to improve their financial situation

2. Ensure client is receiving appropriate information regarding living expenses

2.1 Assist the client to review and document their approach to managing living expenses

2.2 Identify client’s options and rights for managing living expenses

2.3 Provide additional information to address gaps in client knowledge about living expenses and available support

3. Facilitate client understanding of consumer protections and their legal rights

3.1 Clarify client’s understanding of their rights regarding legal and consumer protection

3.2 Discuss identified legal and consumer protection issues to highlight key areas that may require action

3.3 Provide additional information to address gaps in client knowledge about their rights in relevant legal and consumer protection areas

3.4 Identify and provide appropriate opportunities for referral where required

4. Evaluate types of debt presented by client

4.1 Review contracts and associated documentation to clarify validity of client debt

4.2 Review areas of client debt and seek further information to clarify types of debt and the stage of the debt

4.3 Provide information to assist client to understand the implications of different types of debt that may be impacting on them

5. Identify options in regard to debt and debt recovery

5.1 Identify impact of debt and debt recovery processes on client and their financial situation

5.2 Review a range of options relevant to debt and debt recovery and identify potential consequences in relation to the client and their financial situation

5.3 Identify appropriate strategies for debt management to address client’s particular situation

6. Identify appropriate referral and support services

6.1 Proactively identify and assess type of support services needed by client based on analysis of financial information

6.2 Provide current and accurate information about, and refer client to, services to address client needs

The candidate must show evidence of the ability to complete tasks outlined in elements and performance criteria of this unit, manage tasks and manage contingencies in the context of the job role. There must be evidence that the candidate has:

performed the activities outlined in the performance criteria of this unit during a period of 220 hours of work in a financial counselling agency that has met the requirements for the Australian Securities and Investments Commission (ASIC) exemption from a financial services or credit licence

used critical thinking and problem-solving to analyse financial information for at least 5 different clients with varied financial situations and developed technical solutions and options relating to:

correct income sources and entitlements

living expenses and associated support

legal and consumer protection rights

debt and debt recovery processes and options

additional advocacy options.

The candidate must be able to demonstrate essential knowledge required to effectively complete tasks outlined in elements and performance criteria of this unit, manage tasks and manage contingencies in the context of the work role. This includes knowledge of:

legal and ethical considerations (national, state/territory) for financial counselling, and how these are applied in organisations and individual practice:

codes of conduct/practice

conflict of interest

duty of care

human rights

informed consent

practice standards

practitioner/client boundaries

privacy, confidentiality and disclosure

records management

rights and responsibilities of workers, employers and clients:

scope and limitations of financial counsellor role

specific legislation impacting financial counselling, including:

advocacy legislation

ASIC class order 03/1063 and how this applies to the work of financial counsellors and their agencies

ASIC class order 11/926 and how this applies to rural financial counsellors

work role boundaries – responsibilities and limitations

work health and safety

organisation policies and procedures relating to the provision of information

income sources, entitlements and associated issues relating to:

Centrelink

taxation

child support

superannuation insurances

income protection insurance

small business

work choices

wages

welfare rights

compensation (WorkCover, TAC, injury and accident) insurance

family trusts

other income sources

expenditure support relating to:

utilities

housing

cost of living

emergency relief and other assistance

consumer issues covered by legislation, regulations and instruments, relating to:

National Consumer Credit Protection Act 2009

National Credit Code

social security law

taxation law

fair trading acts

internal and external dispute resolution mechanisms (IDR and EDR) insurance

consumer credit insurance

fringe lending

bankruptcy and debt agreements

types of debt and their features, including:

secured and unsecured credit

joint/relationship debts

guarantors and co-borrowers

consumer leases

fines and infringements

government related debts

debtor options, including:

formal and informal arrangements

hardship arrangements

debt agreements

debt recovery

bankruptcy

release of superannuation on compassionate or other grounds

courts, tribunals and legal processes

local networks for referral and support, including:

legal aid

family law

welfare rights centres

community legal centres

specialist legal centres

other specialist services

mental health support services

AOD support services

health services

child and family services

documentation associated with casework including:

client case notes

income and expenses statement/s

advocacy letters

action plans

file closure letters.