Course Title: Promote understanding of the role and effective use of consumer credit
Part A: Course Overview
Program: C4369 Certificate IV in Banking Services
Course Title: Promote understanding of the role and effective use of consumer credit
Portfolio: BUS Portfolio Office
Nominal Hours: 40
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
BAFI5224C |
City Campus |
TAFE |
650T Vocational Business Education |
Face-to-Face or Internet |
Term1 2016, Term1 2017, Term2 2017 |
Course Contact: Callie Harvey
Course Contact Phone: +61 3 9925 5772
Course Contact Email: callie.harvey@rmit.edu.au
Course Description
This unit describes the skills and knowledge required to explain the functions and implications of different forms of consumer credit as part of developing the financial skills of clients.
It applies to individuals who use a range of communication styles and techniques to provide comprehensive analysis of information in managerial support or service roles, particularly to clients with minimal financial awareness.
Pre-requisite Courses and Assumed Knowledge and Capabilities
None
National Competency Codes and Titles
National Element Code & Title: |
FNSCRD503 Promote understanding of the role and effective use of consumer credit |
Elements: |
1. Identify types of appropriate consumer credit options for clients 2. Identify and discuss costs of using credit 3. Promote effective use of consumer credit 4. Provide clients with information regarding credit reference reports |
Learning Outcomes
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- comply with legislative requirements, industry regulations and code of conduct when identifying types of appropriate consumer credit options for clients and providing documentation
- explain the features, terms and conditions of the appropriate consumer credit facilities to clients, taking into account any special needs
- provide clients with a detailed analysis of the fees, costs and risks of appropriate consumer credit facilities
- identify for clients strategies to use appropriate consumer credit facilities effectively
- explain the consequences of a poor credit reference history to clients
Knowledge Evidence
To complete the unit requirements safely and effectively, you must:
- explain the effect of the current economic environment on an individual’s credit and debt options
- explain the advantages and disadvantages of credit
- describe the principles of lending and credit
- outline the key differences between secured and unsecured loans
- describe the key features of relevant legislative requirements, industry regulations and codes of conduct, and how they impact on dealings with clients
- define the roles and relationships between participants within the Australian financial services industry, including banks and other financial intermediaries
- describe key features, terms and conditions, and risks of a range of consumer credit facilities, including fees and costs
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the credit management field of work and include access to:
- common office equipment, technology and consumables
- financial services product information
- relevant software systems and data
- organisational policy and procedures
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.