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Evidence Guide: FNSCRD301 - Process applications for credit

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

 

FNSCRD301 - Process applications for credit

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

Check and verify application details

  1. Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures
  2. Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines
Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Submit assessment and decision

  1. Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application
  2. Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel
  3. Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security
  4. Forward recommendations to relevant personnel promptly in accordance with organisational procedures
Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Forward recommendations to relevant personnel promptly in accordance with organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain application records and complete necessary documentation

  1. Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures
  2. Monitor and record file movements
  3. Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes
Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and record file movements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Check and verify application details

1.1 Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures

1.2 Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines

2. Submit assessment and decision

2.1 Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application

2.2 Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel

2.3 Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security

2.4 Forward recommendations to relevant personnel promptly in accordance with organisational procedures

3. Maintain application records and complete necessary documentation

3.1 Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures

3.2 Monitor and record file movements

3.3 Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Check and verify application details

1.1 Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures

1.2 Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines

2. Submit assessment and decision

2.1 Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application

2.2 Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel

2.3 Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security

2.4 Forward recommendations to relevant personnel promptly in accordance with organisational procedures

3. Maintain application records and complete necessary documentation

3.1 Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures

3.2 Monitor and record file movements

3.3 Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes

Evidence of the ability to:

check the application details thoroughly to ensure accuracy

assess applications following legislative requirements, industry codes of practice and organisational credit policy and procedures

use relevant data entry, office equipment and software to accurately process applications.

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:

list the features of credit products and their application requirements

identify ways of obtaining and checking relevant information from applicants

explain key features of organisational policy and procedures that relate to credit assessments, security and customer service

explain the key purpose of relevant credit legislation, statutory requirements and codes of practice, covering:

consumer credit

personal property securities

privacy

explain types of security.