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Evidence Guide: FNSCNV501A - Take instructions in relation to a transaction

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

 

FNSCNV501A - Take instructions in relation to a transaction

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

Establish the client's needs

  1. Client needs and expectations are identified, clarified and assessed in accordance with the practice's policy and procedures
  2. Optional courses of action are determined and discussed with client
  3. Information in relation to the transaction is checked for accuracy and relevance
  4. Responsibilities, obligations and expectations of all parties to the transaction are mutually agreed and
  5. Client's needs and responsibilities are recorded and documented promptly and accurately
Client needs and expectations are identified, clarified and assessed in accordance with the practice's policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Optional courses of action are determined and discussed with client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information in relation to the transaction is checked for accuracy and relevance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Responsibilities, obligations and expectations of all parties to the transaction are mutually agreed and

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Client's needs and responsibilities are recorded and documented promptly and accurately

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify any conflict of interest

  1. Existing or potential conflicts of interest associated with the transaction are identified and recorded
  2. Conflicts of interest are assessed to determine appropriate action for the client and practice, and client is promptly advised of any necessary action
Existing or potential conflicts of interest associated with the transaction are identified and recorded

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conflicts of interest are assessed to determine appropriate action for the client and practice, and client is promptly advised of any necessary action

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify parties, properties and other interests

  1. Parties, properties and interests relevant to the transaction are accurately identified and verified with the client
  2. Documentation and titles are examined to confirm facts pertaining to the transaction
Parties, properties and interests relevant to the transaction are accurately identified and verified with the client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Documentation and titles are examined to confirm facts pertaining to the transaction

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine terms of engagement

  1. Appropriate terms of engagement which comply with legislative, regulatory and practice requirements are determined and articulated to client clearly and promptly
  2. Client's agreement with terms is established and recorded
  3. Authorities are obtained from client and other relevant parties
  4. Estimates of fees, disbursements and time are checked for accuracy and completeness and provided to client
Appropriate terms of engagement which comply with legislative, regulatory and practice requirements are determined and articulated to client clearly and promptly

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Client's agreement with terms is established and recorded

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Authorities are obtained from client and other relevant parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estimates of fees, disbursements and time are checked for accuracy and completeness and provided to client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine contingency strategies

  1. Contingencies relating to the transaction are assessed and advised to the client
  2. Contingency strategies and options are determined and agreed in consultation with client
Contingencies relating to the transaction are assessed and advised to the client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Contingency strategies and options are determined and agreed in consultation with client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Initiate the transaction

  1. A course of action is selected which meets the client's needs and complies with legislative requirements and with the policies and procedures of the practice
  2. Client is advised of all actions to be implemented to meet their agreed needs and expectations
  3. Instructions from client to proceed or not to proceed are confirmed with client and promptly recorded
  4. Referral to other professionals or third parties is made where appropriate
  5. All relevant instructions, information, facts and evidence are organised, documented and client file formally opened
A course of action is selected which meets the client's needs and complies with legislative requirements and with the policies and procedures of the practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Client is advised of all actions to be implemented to meet their agreed needs and expectations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Instructions from client to proceed or not to proceed are confirmed with client and promptly recorded

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Referral to other professionals or third parties is made where appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

All relevant instructions, information, facts and evidence are organised, documented and client file formally opened

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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:

communicate effectively with a client and identify their needs

apply practice's policy and procedures and relevant legislation to a client transaction

identify conflict of interest in a conveyancing transaction

accurately identify parties, properties and other interests

determine terms of engagement and contingency strategies

accurately record client details and initiate a transaction.

Context of and specific resources for assessment

Assessment must ensure:

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

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

suitable assessment records showing the establishment of a conveyancing client.

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 which may include formal examinations

evaluating samples of work

accessing and validating third party reports

Guidance information for assessment

Required Skills and Knowledge

Required skills

analytical, evaluative and deductive reasoning skills relevant to identifying all aspects of a conveyancing transaction

communication skills to:

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

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

gathering, recording and consolidating financial information

IT skills for accessing and using appropriate software such as spreadsheets and databases and using internet information

literacy skills to read and interpret documentation from a variety of sources

negotiating and interviewing skills

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

organisational skills, including the ability to plan and sequence work

problem solving skills to address conveyancing issue that may arise

research and analysis skills for accessing, interpreting and managing complex information

Required knowledge

business principles and law applicable to conveyancing transactions

current definitions of conflict of interest within legislation and the industry

current legislative, regulatory and industry practices, procedures and services

insurance requirements relevant to a conveyancing transaction

policies, procedures and business requirements of the practice

professional and industry terminology

relevant consumer protection requirements

relevant legislation and common law

relevant types of contract and other required documentation

types of transactions for personal, business or real estate conveyancing

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.

Practice policy and procedures may include:

clerical and administrative procedures

client management practices and principles

disputes and complaints resolution procedures

IT systems

management and supervisory practices

professional codes of practice

professional development requirements.

Documentation may include:

documents dealing with real estate or personal property

electronic documents or messages

electronic funds management transaction statements

interview records

legal, government, professional or other documents

meeting notes

minutes

official, general or other correspondence

records of telephone conversations

reference to all instructions, evidence or information gathered or considered

reports, correspondence or advice from other professionals or third parties

the basis on which decisions were determined

time sheets.

Transactions may include:

a range of dealings in real estate, business or personal property.

Instructions from a client may include:

availability and quality of information provided by client

communication skills of client

consumer protection legislation, common law or licensing requirements

geographic location of client or conveyancer

knowledge of conveyancing issues by client

legal capacity of client

understanding client's goals.

Other professionals or third parties may include:

accounting and taxation:

accountants

auditors

liquidators

tax consultants

legal:

attorneys

barristers and solicitors

mediators and tribunals

trustees

staff from legal offices

real estate:

auctioneers

owner's corporation managers and secretaries

landlords and tenants

managing agents or staff

real estate agents or staff

strata and community managers

valuers

building and construction:

architects

building inspectors

engineers

professional associations

surveyors, quantity surveyors and planning consultants

business or commercial:

company directors and managers

joint venturers

other conveyancers and their staff

financial institutions:

finance brokers and providers

financial advisers and consultants

insurance brokers and providers

loss adjusters and assessors

government departments and agencies:

consumer protection authorities

land titles offices

licensing authorities

municipal offices

rating authorities

town planners

licensees

nominees

timber pest inspectors

beneficiaries

mortgagees and encumbrances.

Instructions may be:

electronic

verbal

written.