Advise clients on financial risk

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 FNSFMK503A, 'Advise clients on financial risk'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Reference books for 'Advise clients on financial risk' on This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to for every purchase, so go nuts :)

Elements and Performance Criteria



1. Determine risk profile

1.1. Interpersonal skills are applied to confirm client's financial needs, expectations and objectives in accordance with organisational requirements

1.2. Valid and relevant information is obtained to determine the complexity of client's needs and their asset and liability management framework is analysed to ensure it matches their broader strategic direction and risk profile

1.3. The context for assessing risk is based on an understanding of the client's personal situation, operating environment or core business

2. Assess financial risk

2.1. Assessment criteria for measuring the level of potential or existing risk, together with an assessment of consequences are developed in accordance with organisational requirements

2.2. Information collected is assessed using the assessment criteria and appropriate analytical techniques

2.3. Threat, consequences and vulnerability for a range of financial products is compared, in accordance with client and organisational requirements

2.4. Risk management alternatives are developed to include assessment of alternatives and estimation of long and short term effects

2.5. Incidents and factors increasing or diminishing financial performance are identified, analysed and discussed with the client

3. Report findings

3.1. Risk management alternatives are documented in accordance with organisational requirements and relevant legislation

3.2. Retail client disclosure documents outlining client responsibilities are prepared and explained to the client

3.3. Client information is updated, modified and accurately maintained in accordance with organisational requirements

3.4. Risk analysis documentation is prepared and filed in accordance with organisational and legislative requirements

3.5. All information is handed safely and securely with due regard to client confidentiality and legislative and organisational requirements

Qualifications and Skillsets

FNSFMK503A appears in the following qualifications:

  • FNS60410 - Advanced Diploma of Financial Planning
  • FNS60810 - Advanced Diploma of Financial Risk Management
  • FNS50810 - Diploma of Financial Risk Management
  • FNS51610 - Diploma of Securitisation
  • FNS51010 - Diploma of Financial Markets
  • FNS60711 - Advanced Diploma of Financial Licensing Management
  • FNS51011 - Diploma of Financial Markets