Course Title: Sell financial products and services

Part B: Course Detail

Teaching Period: Term1 2007

Course Code: MKTG9299C

Course Title: Sell financial products and services

School: 650T TAFE Business

Campus: City Campus

Program: C4170 - Certificate IV in Financial Services

Course Contact : Arie Herrnstadt

Course Contact Phone: +61 3 9925 5897

Course Contact Email:arie.herrnstadt@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 30

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

NONE

Course Description

Sell financial products and services. This unit covers the skills and knowledge required to present a sales solution and close a sale in response to a customer enquiry.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSICSAM401A Sell financial products and services

Element:

Confirm sale and process documentation

Performance Criteria:

1. Suitability of product and price are confirmed with the customer
2. Agreement to proceed with the sale is obtained
3. Documentation is issued in accordance with organisation policy and procedures
4. Payment details are processed without delay
5. Record systems are updated promptly and accurately

Element:

Determine the suitability of the customer for the financial product or service

Performance Criteria:

1. Products and or services that might satisfy the customer’s needs are identified
2. All information required to determine the eligibility of the customer or service is obtained
3. Predetermined risk assessment criteria are applied in accordance with product or service requirements
4. Business proposal is prepared in compliance with legislation, regulations, and codes of practice and personal authorities
5. If business proposal is outside the defined guidelines, it is referred to appropriate personnel for further action

Element:

Identify the nature of the enquiry

Performance Criteria:

1. Rapport with customer established
2. Reasons for the enquiry are established to allow a suitable response
3. Needs of the customer are established
4. Check is carried out to see whether the enquiry is within personal authorities, refer enquiry to appropriate personnel

Element:

Provide customer with information about the product or service

Performance Criteria:

1. Business proposal is presented to the customer and all product information is supplied
2. Customer queries are discussed and proposal clarified if required
3. Follow up arrangements are made


Learning Outcomes


Refer to performance elements and performance criteria.


Details of Learning Activities

Learning Activities
Simulated workplace activities, assignments, working in groups, completion of reports and analysis of written work (articles and reports)

Competency Based Assessment
Students will be provided with more than one opportunity to demonstrate competence. Competency based assessment is detailed below in “Assessment methods” and “Assessment Tasks”.

This unit is co-delivered and assessed with two other units:
MKTG9298C Manage Customer relationships
MKTG9300C Deliver a professional service to customers

Elements of the two competencies are overlapping, will be co-delivered in class activities, assessment activities and grading.


Teaching Schedule

Week BeginningTopicsAssessment
Week 1 – 12 FebIntroduction course guide and resources 
Week 2 – 19 FebSelling Marketing and customer relationshipChapter 1 (Rix)
Week 3 – 26 FebUnderstanding consumersChapter 2 (Rix)
Week 4 – 5 MarEthical and legal issues in sellingChapter 3 (Rix)
Week 5 – 12 MarPreparation for simulated workplace assessment 
Week 6 – 19 MarClass exercise/assessmentSimulated workplace exercise 10%
Week 7 – 26 MarDeveloping your communication skillsChapter 5 (Rix)
Week 8 – 2 AprilSelling as consultationChapter 6 (Rix)
 Mid Semester Break (Student Vacation) – 5th to 11th April 
Week 8 – 9 AprilManage Customer relationships 
Week 9 – 16 AprilClass TestMid semester test 20%
Week 10 – 23 AprilManaging objectionsChapter 9 (Rix)
Week 11 – 30 AprilObtaining commitmentChapter 10(Rix)
Week 12 – 7 MayPreparation for Simulated Work Place Exercise 
Week 13 – 14 MayClass exercise/assessmentSimulated Work place exercise 10%
Week 14 – 21 MayCRM in the modern organisation 
Week 15 – 28 MayRevision and help desk 
Week 16 – 4 JuneHelp desk will operate during first hour of scheduled class 
Week 17 – 11 JuneExam Period. Final exam refer to exam time table Exam 60% 
Week 18 – 18 JuneExam Period. Final exam refer to exam time table Exam 60% 

Please note: the above schedule is a guide only and may change. Students, even if absent, are expected to accurately inform themselves of and follow up any changes that may occur.


Learning Resources

Prescribed Texts

Students are required to access the RMIT Learning Hub.
Note: All email communication will be sent to your RMIT email address.

Essential resources
Access to an internet connected computer outside of class times – Internet connected computers are available in the faculty of Business labs on level 3 of building 108, 259 Bourke Street Melbourne.

Text Book
Rix P. 2006. Selling: Managing Customer Relationships 3e, McGraw-Hill Australia, North Ryde NSW.


References


Other Resources


Overview of Assessment

Assessment will incorporate a variety of methods: homework and in class exercises, written tests/exam, practical problem solving exercises, presentations and reports. Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met.

You will receive ongoing feedback on your progress in the course. Feedback on assessment will be given in a timely manner. You will be informed about how to improve your performance in the competency/course and what you need to do to be deemed competent or to gain a pass in the assessment.


Assessment Tasks

• Practical tests 1 and 2 require students to complete a simulated work place activity, which will include individual and group work. A written report by each student will form part of the practical tests.

• Written test 1, is closed book, will comprise: multiple choice, written and problem solving questions. Duration 1.25 hours

• The Final exam, is closed book, and examines all materials covered in the course. It will comprise: multiple choice, written questions and practical/problem solving questions. Duration 2 Hours.

The student must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.
Assessment will incorporate a variety of methods: homework and in class exercises, written tests/exam, practical problem solving exercises, presentations and reports. Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met.


Assessment Matrix

Performance ElementsPractical
Test 1
10%
Written
Test 1
20%
Practical Test 2
10%
Exam
60%
Identify the nature of the enquiryYYYY
Identify customer needs and expectationsYYYY
Determine the suitability of the customer for the financial product or serviceYYYY
Provide customer with information about the product or serviceYYYY
Confirm sale and process documentationYYYY
Maintain records of customer interactionYYY 
Provide customer serviceYYYY
Provide ongoing sales serviceYYYY
Maintain regular communication with customersYYYY
Project a positive organisational imageYYYY

Other Information

Homework
The student will be required to undertake research and assessment practice outside of regular class times. Homework exercises are provided to the student to facilitate their learning in a self-paced manner and form part of the overall achievement of the competencies in this course. Students are reminded that they are expected to conduct an equal amount of time outside of class, research and furthering their understanding of the concepts being taught, as they do in class to be deemed competent in this course.

Course Overview: Access Course Overview