Course Title: Sell financial products and services

Part B: Course Detail

Teaching Period: Term1 2008

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:

Suitability of product and price are confirmed with the customer
<!--[if !supportLists]--> <!--[endif]-->Agreement to proceed with the sale is obtained
<!--[endif]-->Documentation is issued in accordance with organisation policy and procedures<!--[endif]-->Payment details are processed without delay
<!--[endif]-->Record systems are updated promptly and accurately.<o:p></o:p>

Element:

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

Performance Criteria:

Products and or services that might satisfy the customer's needs are identified
All information required to determine the eligibility of the customer or service is obtained
<!--[endif]--><!--[if !supportLists]-->Predetermined risk assessment criteria are applied in accordance with product or service requirements
<!--[endif]--><!--[if !supportLists]-->Business proposal is prepared in compliance with legislation, regulations, and codes of practice and personal authorities
<!--[endif]-->If business proposal is outside the defined guidelines, it is referred to appropriate personnel for further action.<o:p></o:p>

Element:

Identify the nature of the enquiry

Performance Criteria:

Rapport with customer established
Reasons for the enquiry are established to allow a suitable response
<!--[endif]-->Needs of the customer are established
<!--[endif]-->Check is carried out to see whether the enquiry is within personal authorities, refer enquiry to appropriate personnel.<o:p></o:p> <o:p></o:p>

Element:

Provide customer with information about the product or service

Performance Criteria:

Business proposal is presented to the customer and all product information is supplied
<!--[endif]-->Customer queries are discussed and proposal clarified if required.<o:p></o:p>
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 Tasks" and “Assessment Matrix”.


Teaching Schedule

Week BeginningTopicsAssessment
Week 1 – 11 FebIntroduction course guide and resources 
Week 2 – 18 FebUnderstanding consumers and buyers 
Week 3 – 25 FebEthical and legal issues 
Week 4 – 3 MarCommunication skills 
Week 5 – 10 Mar Simulation exercise 5%
Week 6 – 17 Mar
Simulation/Evaluation
 Easter Break - 20th to 26th March 
Week 7 – 31 MarCommunication skills
Week 8 – 7 AprilGetting organised and prospecting

Week 9 – 14 AprilClass TestClass Test 15%
Week 10 – 21 AprilSelling as consultation

Week 11 – 28 AprilManaging objections and concerns

Week 12 – 5 MayObtaining commitment
 
Week 13 – 12 MayCustomer loyalty and relationship management
Week 14 – 19 MayReview 
Week 15 – 26 May  Sales Simulation 30%
Week 16 – 2 June  Sales Simulation 
Week 17 – 9 JuneFinal Test Final Test 50%

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

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


References


Other Resources


Students are required to access the larning hub.


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

Assessment will consist of the following tasks:

  • <o:p></o:p>Practical tests 1 and 2 require students to complete a simulated work place activity which will include individual and group work.<o:p></o:p>
  • <o:p></o:p> Written Test 1 is closed book, will comprise: multiple choice, written and problem solving questions. Duration 1.25 hours <o:p></o:p>
  • <o:p></o:p> The Final Test/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.<o:p></o:p>

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. <o:p></o:p>

Assessment will incorporate a variety of methods: homework and 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.<o:p></o:p>

<o:p></o:p>Students are assessed against all the performance elements of the course and must demonstrate an understanding of all elements to be deemed competent.  To receive a pass for this course a student must also achieve 50% overall.


Assessment Matrix

Performance ElementsClass Test
Sales
Simulations
Final Test
50%
Identify the nature of the enquiry Y Y Y
Determine the suitability of the customer for the financial product or service Y Y Y
Provide customer with information about the product or service  Y Y
Confirm sale and process documentation  Y
    Y

    Other Information

    Homework
    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.
    Students should be aware that the use of mobile phones during tests is not permitted, even for conducting calculations.

    Course Overview: Access Course Overview