Course Title: Establish client relationship and analyse needs

Part B: Course Detail

Teaching Period: Term1 2014

Course Code: BAFI5197C

Course Title: Establish client relationship and analyse needs

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 Email:doug.gourlay@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Michael Elliot
michael.elliot@rmit.edu.au
9925 5519

Sam Tabit
sam.tabit@rmit.edu.au
9925 4166

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

None

Course Description

This unit describes the performance outcomes, skills and knowledge required to satisfy the training requirements for authorisation by an Australian ASIC registered License (AFSL) holder to provide advice on deposit products, non-cash payment facilities and general insurance products at Tier 2 level.


This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by ASIC.
 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSASIC301C Establish client relationship and analyse needs

Element:

1. Analyse client objective, needs, financial situation and risk profile
2. Establish relationship with client
3. Identify clients objectives, needs and financial situation
 

Performance Criteria:

1.1. A range of communication and interpersonal skills are used to establish the knowledge level of the client
1.2. Enquiries in relation to products and services are responded to by explaining the range of products and services available and their relevant fee and charging methodology
1.3. Client is informed of the role of the adviser and the licensee/principal responsible for the adviser’s conduct including procedures for complaints handling and the circumstances in which they should be engaged

2.1. A range of communication and interpersonal skills are used to gather client personal, financial and business details
2.2. Client’s needs and their product risk profile are identified by encouraging expression of their objectives and goals (short-, medium- and long-term goals as relevant to the product)
2.3. Client expectations of cash flow and relevant taxation obligations are established and confirmed

3.1. An assessment of client’s needs is undertaken, utilising all information gathered and taking into account client’s product expectations and specific needs
3.2. Client isconsulted throughout the analysis for further clarification where necessary
3.3. The need for specialist advice is analysed and the client is referred to an appropriate adviser for higher level or specialist advice if required
3.4. Product risk profile of the client is assessed and agreed demonstrating understanding of the ASIC identified generic and specialist knowledge relevant to the 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 via Blackboard and access to and use of the internet to collect, analyse and use information on a range of financial products and financial organizations.

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.

You are expected to participate and contribute in all scheduled learning activities including completion of tutorial exercises consisting of practical problems, short answer questions, multiple choice, case studies and extension exercise


Teaching Schedule

 

WeeksTopicsAssessment
1 - 10 FebFamiliarisation with Course, Blackboard, Course requirements, Overview of assessment requirements, Where to get support, Student responsibilitiesSubmission Guidelines as outlined in course guide.
2 - 17 FebIntroduction to finance 
3 - 24 FebBanking products and services – Personal loans 
4 - 3 MarchBanking products and services – Personal loansTask 1 Due.  Introductory assessment task.  You will receive the feedback in week 6.
5 - 10 MarchIntroduction to personal financial statements 
6 - 17 MarchIntroduction to personal financial statements 
7 - 24 MarchPersonal Bank Overdrafts 
8 - 31 MarchMortgage loans 
9 - 7 AprilMortgage loans 
10 - 14 AprilAssessment Task 2: Students will work on assessment task 2 in class / seek feedback on work in progress.Task 2 Due. You will receive feedback in week 12.
Mid-semester break: 17 April to 23 April inclusive
11 - 28 AprilDeposit taking products - Part A 
12 - 5 MayDeposit taking products - Part B 
13 - 12 MayConcepts of General Insurance, General Insurance Contracts, Insurance Products 
14 - 19 MaySum Insured, Excesses, Taxes & Levies, Stamp Duty, Fine Service Levy (FSL), Goods and Services Tax (GST). 
15 - 26 MayGeneral Insurance - continued. Assessment task 3.Task 3 Due.  You will receive the feedback in week 16.
16 - 2 JuneFeedback on assessment 


Learning Resources

Prescribed Texts


References


Other Resources

Learning Resources

Learning support materials are made available on the Online Learning Hub www.rmit.edu.au/online.  

All students can take advantage of our student computer labs, some of which are open 24 hours, 7 days a week. For those who’d prefer to use their own laptop, tablet or smartphone - you can connect to our wireless network on any RMIT campus.
Please refer to the following link for details. http://rmit.edu.au/browse;ID=8h8t9c77nv961
College of Business students can use myDesktop to access their learning and teaching software, printers and the internet


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

Overview of Assessment
Students must demonstrate an understanding of all elements of competency to be deemed competent. A range of assessment methods are used to assess practical skills and knowledge.

Critical aspects of assessment
Evidence of the ability to: 
• interpret and comply with industry regulations and codes of practice including, for insurance products, the required approval or authority to accept the transfer of risk
• analyse the characteristics of financial products and services, financial markets and the roles of other specialist providers and licensees
• assess the impacts of taxation on client’s financial requirements for specific products considered.

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 (Due Date: End of week 4)
Introductory assessment task. This assessment will consist of a practical case-study requiring you to identify and briefly describe financial products and services provided by a bank or deposit-taking institution; this will include identifying the 6 CC of lending.
Please note: students who are unable to attend class until week 3 can seek an extension from the course coordinator of the due date until week 4.
To be deemed competent in this task you must identify and briefly describe a variety of financial products provided by a bank or deposit-taking institution. You must also relate the products to the 6 CC of lending.

TASK 2 (Due Date: End of Week 10)
Individual Assignment. A case study exercise requiring students to assess a customer or customers’ financial needs prior to providing the customer with general advice on the following products:
- a personal loan;
- personal overdraft;
- mortgage loan

To be deemed competent in this task you must:
- accurately check all application forms;
- complete a personal loan checklist;
- advise client of suitable loan products, including monthly repayments, fees and charges;
- assist client in preparation of personal financial statements;
- make a recommendation on the outcome of the application;
- respond to client enquiries regarding an application for a mortgage loan, including the documentation required by the financial institution, interest rates, fees and charges;
- identify the advantages of overdrafts for a client.

TASK 3 (Due Date: End of Week 15)
A group assignment requiring students working in groups of 3 to research a general insurance product that meets the general insurance, personal and finance needs of a client.

To be deemed competent in this task you must write recommendations for a general insurance product that covers the following:
- risks covered;
- premium including and excesses, extensions and exclusions;
- taxes, charges and discounts;
- recommendation that addresses the client’s needs.
The above task will be presented in report format (approx. 300-500 words per recommendation).


Assessment Matrix

Other Information

Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.   You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.   Please refer to the Final Grades table below.

Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.
The grading is according to the following criteria:

LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK
You are required to demonstrate a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your access of information required for the assessments tasks, accuracy and quality of information presented to the client and appropriate recommendation using the information you have access, analysed and presented.

DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING
You need to show a depth of understanding of the key concepts and knowledge of the financial products covered in the assessment tasks, including personal loans and overdrafts and general insurance products. Accuracy of all related interest rates, repayment calculations, fees and charges is essential.

TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
Demonstration of appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. This requires use of bank and financial institution web sites to access financial data and demonstrate a capacity to use financial calculators to calculate repayments and credit limits.

WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
You must complete all work requirements as per course requirements and timely submission of all required assessment tasks. You need to collate data and organize it in a presentable format that meets the requirements of the assessment tasks.

COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
You are required to work in groups to complete assessment task 3. Communication skills and teamwork is required to collaboratively complete this task. Additionally you will need to network to collate financial data for personal loan products required in assessment task 2.

Final Grade 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

Course Overview: Access Course Overview