Course Title: Sell financial products and services

Part B: Course Detail

Teaching Period: Term2 2009

Course Code: MKTG5748C

Course Title: Sell financial products and services

School: 650T TAFE Business

Campus: City Campus

Program: C4210 - 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:

FNSICSAM401B Sell financial products and services

Element:

FNSICSAM401B/01Identify 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:

FNSICSAM401B/02Determine 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:

FNSICSAM401B/03Provide 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

Element:

FNSICSAM401B/04Confirm 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


Learning Outcomes



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 1. Introduction: Consultative selling, factors and importance 
Week 2 2. Understanding buyers and their perceptions 
Week 3 3. Complying with legislation & codes of practice: legal and ethical issues 
Week 4 4. Preparing for sales, especially of financial services products 
Week 5 5. Persuading (1): getting customers to talkSimulation exercise 5%
Week 6     Persuading (2): effectively presenting to customersSimulation/Evaluation
Week 7 Selling simulation 1: 10% 

Week 8

Selling simulation 1:Class Test 15%
Week 9 Test 1: 20% 
Week 10 6. Differences between traditional and consultative sales presentations 
Week 11 7. Managing and answering buyers’ objections and concerns
Week 128. Closing the sale: getting buyer committment 
Week 13 9. Customer loyalty and follow-up
Week 14 Group presentation: 10% 
Week 15 Final sales simulation: 30%  Sales Simulation 30%
Week 16 Final sales simulation  Sales Simulation 
Week 17 Test 2: 30% 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

Relevant websites/URLs, newspaper articles, books


Other Resources


Students are required to access the larning hub.


Overview of Assessment

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. Students will be provided with feedback throughout the course to check their progress.

Assessment 1 – Questionnaire on communication skills relevant to selling financial products
Assessment 2 – Sales simulation using communication and sales skills
Assessment 3 – Responding to written customer enquiries 
Assessment 4 – Sales simulation using communication and sales skills
Assessment 5 – Final graded test/exam


Assessment Tasks

Assessment will consist of the following tasks:


• Practical tests 1 and 2 require students to complete a simulated work place activity which will include individual and group work.

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

• Group presentation (maximum 3 students) will be a PowerPoint observation and evaluation of a sale worth at least $500.

• 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.

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 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.

Students are assessed against all the performance elements of the course and must demonstrate an understanding of all elements to be deemed competent.   Additionally students will be graded in this course.  Grading will be based on the following criteria.

Course Grade Criteria
HD > = 80 High Distinction
DI 70 - 79 Distinction
CR 60 - 69 Credit
PA 50 - 59 Pass
NN < 50 Fail
DNS Did Not Submit
NYC Not Yet Competent


Assessment Matrix

Performance Elements         Group
   Presentation

      Sales Simulations

     Tests
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 Y
Confirm sale and process documentation                 Y
                 Y  Y

Other Information

The above schedule is a guide only. Changes may be made as required. Any such changes will be communicated to students during class and via email and/or the Learning Hub.

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

Course Overview: Access Course Overview