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Evidence Guide: FNSINC511 - Conduct financial product research to support product recommendations

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

 

FNSINC511 - Conduct financial product research to support product recommendations

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

Prepare to conduct financial product research

  1. Confirm nature and scope of required research and establish research strategy
  2. Establish timelines to meet required research goal and timeframes
  3. Identify sources of information relevant to research
  4. Source and retrieve required information according to organisational policies and procedures
  5. Prepare research approach based on interpretation of available information and according to organisational policies and procedures
Confirm nature and scope of required research and establish research strategy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish timelines to meet required research goal and timeframes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify sources of information relevant to research

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Source and retrieve required information according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare research approach based on interpretation of available information and according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake research activities and review

  1. Conduct research activities according to legislative and confidentiality requirements, organisational policy and guidelines and industry codes of practice
  2. Analyse research findings and activities to ensure accuracy and thoroughness
  3. Review and maintain compliance with statutory disclosure requirements
  4. Seek feedback on effectiveness and appropriateness of research activities from required stakeholders
Conduct research activities according to legislative and confidentiality requirements, organisational policy and guidelines and industry codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse research findings and activities to ensure accuracy and thoroughness

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review and maintain compliance with statutory disclosure requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek feedback on effectiveness and appropriateness of research activities from required stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document and distribute research to required parties

  1. Check research to ensure compliance with legislative requirements, organisational policy and guidelines, and industry codes of practice
  2. Finalise research documentation according to organisational procedures
  3. Obtain required authorisations to release research according to organisational procedures
  4. Distribute research to required stakeholders according to organisational policies and procedures
  5. Obtain confirmation of receipt of research information where relevant and complete organisational records of compliance
Check research to ensure compliance with legislative requirements, organisational policy and guidelines, and industry codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise research documentation according to organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain required authorisations to release research according to organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Distribute research to required stakeholders according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain confirmation of receipt of research information where relevant and complete organisational records of compliance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

conduct research into a different financial product to support recommendations in at least three of the following practice areas:

aged care

direct investments

estate planning

life insurance

managed investments

retirement planning

social securities

superannuation

taxation.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative requirements and codes of practice relating to financial product research, including:

protocols relating to product research

confidentiality requirements

organisational policies, procedures, guidelines and requirements relating to products and research, including for:

sourcing required product information

conducting research activities

preparing and documenting research findings

obtaining release authorisations

distributing research and receipt confirmation

completing records of compliance

sources of information for research on financial products

current economic climate and forecasted outlook for researched financial products

financial forecasting techniques and tools to be used to assess the market for financial products

local and international financial markets and investment outlook for financial products

techniques and tools for evaluating and interpreting research data.