Develop and maintain in-depth knowledge of products and services used by the life insurance sector

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 FNSILF403, 'Develop and maintain in-depth knowledge of products and services used by the life insurance sector'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Develop and maintain in-depth knowledge of products and services used by the life insurance sector' 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

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify products and services used by organisation

1.1 Identify life insurance products and services offered by organisation and determine purpose of each

1.2 Identify characteristics of product and service including their strengths, weaknesses, terms and conditions and, where applicable, communicate this information to clients

1.3 Access organisation’s promotional strategy for products and services and apply in business activities

2. Identify compliance implications of product

2.1 Establish and document compliance implications

2.2 Provide clients with all necessary information and documentation as per compliance requirements

3. Determine appropriate users for products and services

3.1 Identify and document function of each product and service, and client needs it satisfies

3.2 Research client characteristics that best suit each product

3.3 Compare organisation’s products and services against those of competitors, to establish most effective approach for matching products to client needs

3.4 Evaluate products and services sales strategy that best meets client needs while taking into account competitor practices

4. Maintain product knowledge

4.1 Regularly review relevant products and services to identify changes to terms and conditions and apply this information in daily work

4.2 Implement systems for updating and maintaining knowledge of products and services

4.3 Review and use information on emerging trends affecting financial services industry to supplement product and service knowledge


Qualifications and Skillsets

FNSILF403 appears in the following qualifications:

  • FNS41512 - Certificate IV in Life Insurance
  • FNS51312 - Diploma of Life Insurance
  • FNS51315 - Diploma of Life Insurance
  • FNS41515 - Certificate IV in Life Insurance