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 FNSSMS603A, 'Apply legislative and operational requirements to advising in self-managed superannuation funds'.
- Google Links
- links to google searches, with filtering in place to maximise the usefulness of the returned results
- Books
- Reference books for 'Apply legislative and operational requirements to advising in self-managed superannuation funds' 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. Establish knowledge of client/trustee regarding self-managed superannuation funds | 1.1. Key features, structures and operations of a self-managed superannuation fund are explained to the client/trustee 1.2. Client/trustee is informed of the importance of receiving complete advice on taxation requirements and implications for the fund and adviser explains the scope and authority of taxation information they are able to provide 1.3. Sources of taxation information appropriate to self-managed superannuation funds and appropriate providers/referrals for this specialist advice are identified 1.4. Client/trustee is informed of the roles played by the adviser, intermediaries and issuers 1.5. Client/trustee is informed of the process to appoint trustees and trustee duties and responsibilities and liabilities are explained 1.6. Client/trustee is informed of the key issues that are considered when evaluating self-managed superannuation fund applications 1.7. Key features, characteristics and risks of different types of self-managed superannuation fund income streams are explained to client/trustee 1.8. Client/trustee is informed of the associated risks with establishing a self-managed superannuation fund 1.9. Client/trustee is informed of the steps required to establish a self-managed superannuation fund 1.10. The processes of winding up a self-managed superannuation fund benefits is explained to the client/trustee |
2. Identify and explain relevant fund legislative requirements to the client/trustee | 2.1. Sources of legislative information appropriate to self-managed superannuation funds are identified 2.2. Legislative requirements that apply to client/trustee and self-managed superannuation fund structures are explained to the client/trustee 2.3. The client/trustee is informed of the role of the principal regulator in managing self-managed superannuation funds 2.4. The client/trustee is informed of the role of related regulators in managing, operating and supporting self-managed superannuation funds 2.5. The client/trustee is informed of the ongoing legislative requirements to maintain a compliant self-managed superannuation fund 2.6. The client/trustee is informed of the consequences of a self-managed superannuation fund becoming non-compliant |
3. Identify and explain relevant fund operational requirements to the client/trustee | 3.1. Sources of operational information appropriate to self-managed superannuation funds are identified 3.2. Operational requirements that apply to the client/trustee of a self-managed superannuation fund structure are explained to the client/trustee 3.3. The client/trustee is informed regarding the operation of trust deeds and ongoing deed amendment and requirements 3.4. The client/trustee is informed of purposes of establishing life insurance through a self-managed superannuation fund 3.5. The client/trustee is informed of the requirements of establishing an investment strategy considering investment restrictions for a self-managed superannuation fund 3.6. The client/trustee is informed of the application of Superannuation Industry (Supervision) (SIS) preservation rules |
4. Identify and explain implications for contributions to the client/trustee | 4.1. The client/trustee is informed of the types of allowable contributions that the self-managed superannuation fund can claim, within the scope of its authority 4.2. Regulations regarding a person's eligibility to contribute to a self-managed superannuation fund are explained to the client/trustee 4.3. The treatment of business real property is explained to the client/trustee 4.4. self-managed superannuation fund contribution rules, including in specie requirements are explained to the client/trustee 4.5. Allocation of contributions to individual member accounts is explained to the client/trustee 4.6. The client/trustee is advised to seek advice for higher level/specialist and/or comprehensive advice if required |
5. Identify and explain implications for fund income/assets to the client trustee | 5.1. Scope of information on fund income and assets able to be provided are explained to the client/trustee 5.2. The importance of receiving complete advice on implications for fund income and assets and appropriate providers/referrals for this specialist advice are identified 5.3. Fund deductions available to self-managed superannuation funds are identified 5.4. Fund credits available to self-managed superannuation funds are identified 5.5. Impact of deductions on funds is explained to the client/trustee 5.6. Life insurance deductions are identified and explained to the client/trustee 5.7. In specie deductions are identified and explained to the client/trustee 5.8. Operation of fund reserves is explained to the client/trustee 5.9. Sole purpose test (appropriate/inappropriate self-managed superannuation fund investments) are explained to the client/trustee 5.10. Special self-managed superannuation fund investment strategies, including borrowing/lending restrictions, are explained to the client/trustee 5.11. The client/trustee is informed of the reporting issues regarding the treatment of franking credits (accumulation and pension) 5.12. The client/trustee is informed of implications and benefits relating to investment earnings (accumulation and pensions) |
6. Identify and explain implications for benefits to the client/trustee | 6.1. The requirements for accessing assets in self-managed superannuation funds for the payments of benefits are explained to the client/trustee 6.2. Key features, characteristics and risks of different types of self-managed superannuation fund income streams are explained to the client/trustee 6.3. The process of setting up an income stream (i.e. pensions) from a self-managed superannuation fund is explained to the client/trustee 6.4. Calculation and operation of member accounts in both accumulation and pension phases are explained to the client/trustee 6.5. Treatments of lump sum Eligible Termination Payment (ETP) payments considerations are explained to the client/trustee 6.6. The client/trustee is advised of the superannuation surcharge considerations 6.7. The client/trustee is informed of the treatment of death benefits (lump sum and pension issues) 6.8. The client/trustee is informed of the different Reasonable Benefit Limit (RBL) treatments and reporting issues pertaining to self-managed superannuation funds 6.9. The client/trustee is advised to seek advice for higher level/specialist advice if required |