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Evidence Guide: FNSIBK405A - Meet industry and legislative guidelines and organisational procedures relating to insurance broking

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

 

FNSIBK405A - Meet industry and legislative guidelines and organisational procedures relating to insurance broking

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

Identify relevant guidelines and procedures

  1. Effects on role of legislative, industry and brokerage guidelines and procedures are determined
  2. Up-to-date checklist of operational procedures is maintained and observed
Effects on role of legislative, industry and brokerage guidelines and procedures are determined

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Up-to-date checklist of operational procedures is maintained and observed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Work in accordance with guidelines and procedures

  1. Work tasks are carried out in accordance with specific organisation policy, guidelines and procedures
  2. Regulations, codes and procedures set out in organisation compliance manuals in relation to the provision of information, retail and other advice are complied with
  3. Insurance and insurance broking codes of practice are used to guide an ethical approach to workplace practice and decisions
  4. Assistance in clarifying the application of the guidelines, procedures and legislation is sought from appropriate personnel where necessary
Work tasks are carried out in accordance with specific organisation policy, guidelines and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Regulations, codes and procedures set out in organisation compliance manuals in relation to the provision of information, retail and other advice are complied with

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Insurance and insurance broking codes of practice are used to guide an ethical approach to workplace practice and decisions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assistance in clarifying the application of the guidelines, procedures and legislation is sought from appropriate personnel where necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and maintain personal competency in work tasks

  1. Training needs and goals are identified and reviewed on a regular basis
  2. Competency, authorisation and licensing requirements are clarified
  3. Professional development opportunities that reflect needs and goals are sought and completed in an agreed upon timeframe
Training needs and goals are identified and reviewed on a regular basis

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Competency, authorisation and licensing requirements are clarified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Professional development opportunities that reflect needs and goals are sought and completed in an agreed upon timeframe

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:

implement operational procedures to meet compliance requirements from financial services industry regulations and other legislation

interpret and comply with organisation policy and procedures, relevant legislation and insurance broking codes of practice

perform work within a quality customer service environment.

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 relevant workplace or a closely simulated work environment

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

access to organisation records

access to organisational policies and procedures.

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

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

communication skills to:

determine and confirm information, using questioning and active listening techniques

liaise with others, share information, listen and understand

prepare clear written communication

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform calculations related to achieving required outcomes

use computer applications (word processing, spreadsheet, database, specific purpose computer systems) to assist in achieving required outcomes

access and update records electronically

access web-based information services

literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information

research and analysis skills for accessing and interpreting relevant information

interpersonal skills

organisational skills, including the ability to plan and sequence work

Required knowledge

general insurance and insurance broker's codes of practice

relevant legislation and statutory requirements

relevant industry and organisation policies and procedures

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.

Legislative, industry and brokerage guidelines and procedures may include:

anti-discrimination legislation

best practice guidelines

organisation codes of practice

complaint handling procedures

customer services standards

Financial Services Reform Act (FSRA) and ASIC regulatory guides on adviser conduct

induction program

Insurance Broker Code of Practice

Insurance Contracts Act

occupational health and safety (OHS) legislation

Privacy Act

procedures and/or operating manuals

training plans.

Work tasks may include:

broking advisory work

claims or policy administration

initial customer service

internal administration and support.

Appropriate personnel may include:

colleagues

compliance officers

managers or supervisors

senior broking or management staff.