Course Title: Establish client relationship and analyse needs

Part B: Course Detail

Teaching Period: Term1 2016

Course Code: BAFI5225C

Course Title: Establish client relationship and analyse needs

School: 650T Vocational Business Education

Campus: City Campus

Program: C4369 - Certificate IV in Banking Services

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 50

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.

Pre-requisites and Co-requisites


Course Description

This unit describes the skills and knowledge required to interpret and comply with industry regulations and codes of practice when considering the characteristics of financial products and services for individual client needs.

It applies to individuals with excellent communication skills who are authorised as Australian Securities and Investments Commission (ASIC) registered Australian financial services licence (AFSL) holders to provide advice on deposit products, non-cash payment facilities and general insurance products at Tier 2 level.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSASIC301 Establish client relationship and analyse needs


1. Establish relationship with client

Performance Criteria:

1.1 Use range of communication and interpersonal skills to establish knowledge level of client
1.2 Respond to enquiries in relation to products and services by explaining range available and associated fee and charging schedule
1.3 Inform client of role of adviser and licensee or principal responsible for adviser’s conduct, including procedures for complaints handling and circumstances in which they should be engaged


2. Identify client objectives, needs and financial situation

Performance Criteria:

2.1 Employ range of communication and interpersonal skills to gather client personal, financial and business details
2.2 Identify client’s needs and product risk profile by encouraging expression of objectives and short-term, medium-term and long-term goals as relevant to product
2.3 Establish and confirm client expectations of cash flow and relevant taxation obligations


3. Analyse client objectives, needs, financial situation and risk profile

Performance Criteria:

3.1 Undertake assessment of client’s needs, using all information gathered and taking into account client’s product expectations and specific needs
3.2 Consult client throughout analysis for further clarification where necessary
3.3 Analyse need for specialist advice and refer client to appropriate adviser for higher level or specialist advice if required
3.4 Complete product risk profile of client that demonstrates correct application of ASIC generic and specialist knowledge relevant to products being offered

Learning Outcomes

Details of Learning Activities

 A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.

The self-paced activities will be delivered thought various technology platforms and include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.

We expect you to participate and contribute in all scheduled learning activities.


Teaching Schedule

Induction Session

Prior to training commencement a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • MyRMIT/Blackboard
  • Overview of assessment requirements
  • Pre-Training Review including:

o    Recognition of Prior Learning and Credit Transfers

o    Assessment of current skills and knowledge

  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities

Please refer to the program shell for further information.


Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • work effectively with clients to collect relevant personal and/or business information that will enable identification of their objectives, needs, expectations, financial situation and risk profile
  • interpret and comply with relevant industry regulations and codes of practice requirements that relate to the provision of financial product advice
  • analyse client information and assess client risk profile to determine the characteristics of financial products and services relevant to client needs

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must satisfy the knowledge requirements relevant to the products and activities in which advice is given.

For general insurance, deposit products and non-cash payments and relevant first home saver account products the individual must:

  • explain the legal environment including disclosure and compliance covering:
  • role of the representative or adviser
  • relevant legal principles including the Corporations Act, Financial Services Reform Act (FSRA), Competition and Consumer Act, Insurance Contracts Act and Australian Securities and Investments Commission (ASIC) Act
  • the relationship between ethics and regulatory requirements including good faith, utmost good faith, full disclosure of remuneration and fees, and any other conflicts of interest which may influence the adviser’s recommendation
  • name relevant industry codes of practice and conduct
  • identify complaints resolution procedures (internal and external)
  • outline relevant ASIC regulatory guidelines.


For general insurance the individual must:

  • summarise the characteristics and participants of Australian insurance markets and the roles played by intermediaries, and identify insurance products including:
  • definition of an insurance product
  • conditions, exclusions and level of coverage of risk transfer products
  • types of insurance products
  • pricing of risk products
  • identify taxation issues relating to insurance products
  • explain advisory functions including:
  • role of the representative, broker or adviser
  • participants in the insurance advisory services market
  • range of services provided
  • profile and financial information of the client
  • appropriateness of a risk assessment
  • summarise the specific product knowledge for the general insurance products in which advice is given including:
  • standard cover (and deviations)
  • policy wordings
  • taxes and charges
  • insurance claims
  • premium rating and risk selection
  • reporting
  • product development
  • underwriting.


For deposit products and non-cash payment facilities the individual must:

  • name the types of deposit products and non-cash payment products
  • summarise the product characteristics.


For first home saver accounts the individual must:

  • name the types of first home saver account products including the range of accounts, associated risks and alternative products
  • summarise the product characteristics – eligibility and withdrawal, and government conditions
  • explain the taxation issues relating to first home saver accounts

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial services and products advice field of work and include access to:

  • common office equipment, technology, software and consumable
  • financial services product information.

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 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.

Assessment Tasks

Please refer to the program shell for further information.


Assessment Matrix

Please refer to the program shell for further information.


Other Information

Submission Requirements

You should:

  • Ensure that you submit assessments on or before the due date.  
  • Always retain a copy of your assessment tasks. (hard copy and soft copy)
  • When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
  • Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers.   For example, Callie Harvey, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.

More Information

Form to use:

Where an extension of greater than seven days is needed, you must apply for special consideration.  Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination. 

More Information:;ID=g43abm17hc9w (unresolved)

Form to use:

Resubmissions (VET Programs):

If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.  The highest grade you will receive if your resubmission is successful is “CAG”.

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:

More Information:;ID=7usdbki1fjf31

Marking Guide (Competency):

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.


Marking Guide (Grading)


After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:


Final Grades table:



Competent with High Distinction




Competent with Distinction




Competent with Credit




Competency Achieved – Graded




Not Yet Competent




Did Not Submit for assessment





Course Overview: Access Course Overview