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:firstname.lastname@example.org
Name and Contact Details of All Other Relevant Staff
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
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
1. Analyse client objective, needs, financial situation and risk profile
1.1. A range of communication and interpersonal skills are used to establish the knowledge level of the client
2.1. A range of communication and interpersonal skills are used to gather client personal, financial and business details
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
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
|1 - 10 Feb||Familiarisation with Course, Blackboard, Course requirements, Overview of assessment requirements, Where to get support, Student responsibilities||Submission Guidelines as outlined in course guide.|
|2 - 17 Feb||Introduction to finance|
|3 - 24 Feb||Banking products and services – Personal loans|
|4 - 3 March||Banking products and services – Personal loans||Task 1 Due. Introductory assessment task. You will receive the feedback in week 6.|
|5 - 10 March||Introduction to personal financial statements|
|6 - 17 March||Introduction to personal financial statements|
|7 - 24 March||Personal Bank Overdrafts|
|8 - 31 March||Mortgage loans|
|9 - 7 April||Mortgage loans|
|10 - 14 April||Assessment 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 April||Deposit taking products - Part A|
|12 - 5 May||Deposit taking products - Part B|
|13 - 12 May||Concepts of General Insurance, General Insurance Contracts, Insurance Products|
|14 - 19 May||Sum Insured, Excesses, Taxes & Levies, Stamp Duty, Fine Service Levy (FSL), Goods and Services Tax (GST).|
|15 - 26 May||General Insurance - continued. Assessment task 3.||Task 3 Due. You will receive the feedback in week 16.|
|16 - 2 June||Feedback on assessment|
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.
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.
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).
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