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Evidence Guide: FNSINC601 - Apply economic principles to work in the financial services industry

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

 

FNSINC601 - Apply economic principles to work in the financial services industry

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

Apply economic principles and theories

  1. Develop and apply knowledge of economic principles relevant to the industry
  2. Apply microeconomic theory of markets and influences on financial products and services to determine structure of organisation
  3. Apply capital adequacy regulation and requirements to work functions
Develop and apply knowledge of economic principles relevant to the industry

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply microeconomic theory of markets and influences on financial products and services to determine structure of organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply capital adequacy regulation and requirements to work functions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate economic aspects that apply to decision making

  1. Apply relevant financial modelling techniques to economic data to inform decision making
  2. Analyse and apply appropriate asset pricing models
  3. Apply models to determine organisational value in relation to capital structure
Apply relevant financial modelling techniques to economic data to inform decision making

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and apply appropriate asset pricing models

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply models to determine organisational value in relation to capital structure

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review own work

  1. Evaluate own work in context of relevant economic principles
  2. Improve performance through understanding of how economics applies to own decision making
Evaluate own work in context of relevant economic principles

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Improve performance through understanding of how economics applies to own decision making

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain personal understanding of economic policies

  1. Research current economic theories and their impact on the industry to ensure relevant current knowledge
  2. Integrate contemporary economic principles into work practices
Research current economic theories and their impact on the industry to ensure relevant current knowledge

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Integrate contemporary economic principles into work practices

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. Apply economic principles and theories

1.1 Develop and apply knowledge of economic principles relevant to the industry

1.2 Apply microeconomic theory of markets and influences on financial products and services to determine structure of organisation

1.3 Apply capital adequacy regulation and requirements to work functions

2. Evaluate economic aspects that apply to decision making

2.1 Apply relevant financial modelling techniques to economic data to inform decision making

2.2 Analyse and apply appropriate asset pricing models

2.3 Apply models to determine organisational value in relation to capital structure

3. Review own work

3.1 Evaluate own work in context of relevant economic principles

3.2 Improve performance through understanding of how economics applies to own decision making

4. Maintain personal understanding of economic policies

4.1 Research current economic theories and their impact on the industry to ensure relevant current knowledge

4.2 Integrate contemporary economic principles into work practices

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. Apply economic principles and theories

1.1 Develop and apply knowledge of economic principles relevant to the industry

1.2 Apply microeconomic theory of markets and influences on financial products and services to determine structure of organisation

1.3 Apply capital adequacy regulation and requirements to work functions

2. Evaluate economic aspects that apply to decision making

2.1 Apply relevant financial modelling techniques to economic data to inform decision making

2.2 Analyse and apply appropriate asset pricing models

2.3 Apply models to determine organisational value in relation to capital structure

3. Review own work

3.1 Evaluate own work in context of relevant economic principles

3.2 Improve performance through understanding of how economics applies to own decision making

4. Maintain personal understanding of economic policies

4.1 Research current economic theories and their impact on the industry to ensure relevant current knowledge

4.2 Integrate contemporary economic principles into work practices

Evidence of the ability to:

research economic trends, evaluate impacts, and access and interpret corporate regulations

analyse and apply a range of financial modelling techniques and tools

reflect on and review own performance in applying knowledge of economic principles in day-to-day work functions.

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:

outline key features of common economic theories that relate to the financial services industry

outline key features of microeconomic principles and how they relate to financial services industry products, services and organisational practices

explain capital adequacy requirements for financial services organisations based on financial product mix

explain asset pricing models and their use in identifying organisational value and capital structures

explain and apply economic theories and valuation of assets

identify and apply financial modelling techniques and tools

outline industry or organisation financial markets, products and services

describe key features of relevant legislation, statutory requirements and industry codes of practice

identify and describe techniques and tools for evaluation and interpretation of research data

describe the economic and political climate relating to the financial services industry.