Course Title: Develop and maintain in-depth knowledge of products and services used by an organisation or sector

Part B: Course Detail

Teaching Period: Term2 2014

Course Code: ACCT5323C

Course Title: Develop and maintain in-depth knowledge of products and services used by an organisation or sector

School: 650T TAFE Business

Campus: City Campus

Program: C4342 - Certificate IV in Banking Services

Course Contact : Doug Gourlay

Course Contact Phone: +61 3 9925-5944

Course Contact

Name and Contact Details of All Other Relevant Staff

Michael Elliot

Contact Number: 99255519


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.

Pre-requisites and Co-requisites


Course Description

This unit describes the performance outcomes, skills and knowledge required to develop and maintain an in-depth knowledge of the financial products and services provided by an organisation, or those an organisation uses, and how they may be applied to customer needs.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement. 

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector


1. Identify the products and services the organisation uses

Performance Criteria:

1.1. Products and services used by an organisation or sector are identified and the purpose of each determined

1.2. The characteristics of products and services are identified and their strengths, weaknesses, terms, and conditions understood so they can be clearly communicated to customers where applicable

1.3. The organisation's promotional strategy for products and services are accessed and applied in business activities


2. Identify compliance implications of product

Performance Criteria:

2.1. Compliance implications are established and documented

2.2. Customer is provided with all necessary information and documentation as per compliance requirements


3. Determine the appropriate users for products and services

Performance Criteria:

3.1. The function of each product and service and the customer needs it satisfies are identified and documented and the customer characteristics that best suit each product determined

3.2. The products and services used by the organisation or sector are compared with the products of competitors as a basis for selecting the most effective approach to matching products to customer needs

3.3. Approaches to selling the products and services in a competitive marketplace are evaluated and effective approaches to meeting customer needs determined


4. Maintain product knowledge

Performance Criteria:

4.1. Relevant products and services are reviewed regularly and any changes to terms and conditions identified and applied in daily work

4.2. Systems for keeping up with changes and maintaining up-to-date knowledge about relevant products and services are put in place and used

4.3. Emerging trends affecting the financial industry are continuously reviewed and applied to product and service knowledge

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.

Teaching Schedule


Commencing Topics Assessments
1 7 July

 Familiarisation with Course, Blackboard, Course requirements, Overview of assessment requirements, Where to get support, Student responsibilities

Submission Guidelines as outlined in course guide.

Task 1 - Individual Assignment


2 14 July  Introduction to finance  
3 21 July  Banking products and services – Personal loans  
4 28 July  Banking products and services – Personal loans

Task 1- Individual Assignment Due 

You will receive the feedback in week 6.

5 4 Aug  Introduction to personal financial statements  
6 11 Aug  Introduction to personal financial statements

Task 2 - Group Assignment distributed


7 18 Aug  Personal Bank Overdrafts  
8 25 Aug  Mortgage loans  
9 8 Sept  Assessment Task 2: Students will work on assessment task 2 in class / seek feedback on work in progress

Task 2  - Group Assignment Due

You will receive feedback in week 12.

10 15 Sept  . Deposit taking products - Part A  
11 22 Sept  . Deposit taking products - Part B  
12 29 Sept  Concepts of General Insurance, General Insurance Contracts, Insurance Products  
13 6 Oct  Sum Insured, Excesses, Taxes & Levies, Stamp Duty, Fine Service Levy (FSL), Goods and Services Tax (GST).  
14 13 Oct  In class Assessment

Task 3 -  In- class Assessment due

You will receive feedback in week 16.

15 20 Oct  Resits  
16 27 Oct  Feedback on assessment  You will receive the overall course  feedback in week 16

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Learning Resources

Prescribed Texts


Other Resources

Other materials will be placed on the Blackboard and will be used when directed so by your teacher.

Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

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.  You will be provided with feedback throughout the course to check your progress.

Assessment Tasks

This course is co - delivered with the following competencies:

BAFI 5196C Assess credit applications
BAFI 5197C Establish client relationship and analyse needs
BAFI 5198C Develop and present and negotiate client solutions

Critical aspects of assessment

Evidence of the ability to:

  • identify and maintain current knowledge of the financial products and services an organisation uses and provides
  • identify unique characteristics of financial products, how they rate to competitors, and the type of customers and customer needs they are best suited for.

Assessment Tasks

You are required to complete 3 tasks. You must successfully complete all 3  tasks to be deemed competent in this unit.

TASK 1  - Individual Assignment  (28 July: Week 4)

For this assessment task you will be undertaking an individual assessment that will assess your knowledge of Financial Industry Terms and characteristics of investment instruments.

TASK 2 - Group Assignment (8 Sept: Week  9 )

For this assessment task you will be undertaking a Group Assignment on Customer Service Skills and Product Comparison and Recommendation.

TASK 3 - In - Class Assessment (13 October: Week 14)

For this assessment task you will be undertaking a  two hour in class assessment during your scheduled class, consisting of Short Answer questions and Financial Calculations based on all Instructional Topics taught throughout the semester.

Assessment Matrix

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, Julie Macpherson, 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

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:

CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment

Further information regarding the application of the grading criteria will be provided by your teacher.

Course Overview: Access Course Overview