Promote understanding of the role and effective use of consumer credit

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver FNSCRD503A, 'Promote understanding of the role and effective use of consumer credit'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Promote understanding of the role and effective use of consumer credit' on fishpond.com.au. This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to ntisthis.com for every purchase, so go nuts :)


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

1. Identify range and type of consumer credit options

1.1. The role of consumer credit is identified and advantages and disadvantages of credit are discussed with the client

1.2. Types of consumer credit facilities are explained to the client in plain language including the differences between unsecured and secured loans

1.3. Implications of default on secured loans are explained to the client

2. Identify and discuss costs of using credit

2.1. Fees and costs associated with different types of credit options and the features and associated risks of fixed versus variable interest rates are explained to the client

2.2. Ways to compare advertised interest rates and the effects of fees and charges are demonstrated to the client

3. Promote effective use of consumer credit

3.1. Ways to avoid excessive or unmanageable debt are discussed with the client in relation to their financial situation

3.2. Strategies to minimise fees on credit including the importance of meeting minimal payments on credit cards are discussed with the client

3.3. Ways to avoid credit card fraud are identified and communicated to the client

4. Provide client with information regarding credit reference reports

4.1. The role of credit reference agencies is discussed and explained to the client in plain language

4.2. The purpose and use of credit reference reports in assessing loan applications and the implications of establishing a poor credit history are emphasised and explained to the client

4.3. The right to access and methods of obtaining own credit reference report is explained, and relevant contact details provided to the client for follow up if required


Qualifications and Skillsets

FNSCRD503A appears in the following qualifications:

  • FNS41210 - Certificate IV in Mobile Banking
  • FNS41010 - Certificate IV in Banking Services
  • FNS51510 - Diploma of Credit Management
  • FNS40110 - Certificate IV in Credit Management
  • FNS50910 - Diploma of Banking Services Management
  • FNS40111 - Certificate IV in Credit Management
  • FNS41011 - Certificate IV in Banking Services
  • FNS41211 - Certificate IV in Mobile Banking
  • FNS51511 - Diploma of Credit Management
  • FNS41811 - Certificate IV in Financial Services
  • FNS51811 - Diploma of Financial Services