NTISthis.com

Evidence Guide: FNSILF302A - Process a life insurance application

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

 

FNSILF302A - Process a life insurance application

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

Receive applications

  1. Receive new life insurance applications and compile necessary documentation
  2. Check that documentation is correct and complete
  3. Gather further information from appropriate information sources as necessary
  4. Enter application data in appropriate systems and verify data input accuracy
Receive new life insurance applications and compile necessary documentation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check that documentation is correct and complete

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Gather further information from appropriate information sources as necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Enter application data in appropriate systems and verify data input accuracy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process applications

  1. Determine authority to act and refer application to appropriate authority as necessary
  2. Consult with internal stakeholders, as appropriate
  3. When acceptable, process the application
  4. Communicate result to all relevant parties in accordance with procedures and regulatory requirements
  5. Update records and file documentation in accordance with procedures and regulatory requirements
Determine authority to act and refer application to appropriate authority as necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult with internal stakeholders, as appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

When acceptable, process the application

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate result to all relevant parties in accordance with procedures and regulatory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update records and file documentation in accordance with procedures and regulatory requirements

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:

correctly process applications

apply procedures and comply with regulatory requirements.

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 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 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

setting and reviewing workplace projects and business simulations or scenarios.

Guidance information for assessment

Required Skills and Knowledge

Required skills

communication skills to:

use questioning and active listening to gather and check information

liaise and share information with others

communicate appropriately with people from diverse backgrounds

numeracy skills to:

interpret numeric data and relevant statistics and from this perform calculations related to achieving required outcomes

IT skills to:

use computer applications (word processing, spreadsheet, database, specific purpose computer systems)

access and update records electronically

access web-based information services

reading skills to:

read and understand relevant procedures

read and interpret applications and supporting documentation

writing skills to:

accurately record information

prepare professional letters and emails

organisational skills to efficiently plan and sequence work

problem solving skills to address inaccuracies and omissions in applications

analytical skills to effectively analyse information and data.

Required knowledge

life insurance terms and conditions

organisational procedures

organisational systems for data entry, filing and document registration

product information

relevant regulatory requirements.

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.

Documentationmay include:

birth records

health records

marriage records

other records required for application

product disclosure statement (PDS)

product documentation

Information sourcesmay include:

adviser

client or client agent

government records

law enforcement agencies

medical or related professionals

Appropriate systemsmay include:

document management system

policy administration system

Appropriate authority may include:

manager

other levels of management

supervisor

Internal stakeholders may include:

chief medical officers

claims departments

new business team

other relevant business teams

senior underwriters

underwriters

Procedures may include:

complaints handling processes

customer service charter

guidelines

general operational policies

privacy and confidentiality guidelines

Relevant partiesmay include:

adviser

client

internal stakeholders

Regulatory requirements may include:

Australian Securities and Investments Commission (ASIC) regulatory guides

life insurance legislation

privacy legislation