Course Title: Sell financial products and services
Part B: Course Detail
Teaching Period: Term1 2014
Course Code: MKTG6077C
Course Title: Sell financial products and services
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: 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
This unit describes the performance outcomes, skills and knowledge required to present a sales solution and close a sale in response to a customer enquiry.
This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title:
FNSSAM401A Sell financial products and services
1. Identify the nature of the enquiry
1.1. Rapport with the customer and the reason for the enquiry are established to allow a suitable response
2.1. Products and/or services that might satisfy the customer’s needs are identified
3.1 Business proposal is presented to the customer and all product information is supplied
4.1. Suitability of product and price are confirmed with the customer and agreement to proceed with the sale is obtained
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The activities will be delivered though various technology platforms, quizzes and interactive sessions.
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.
We expect you to constructively participate and contribute in all scheduled learning activities.
Students are expected to check their student email and myRMIT online at least weekly for messages. If absent from class you are also responsible for keeping up with any changes and for downloading and reading notes that you have missed.
The nominal hours and topic sequence below is 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.
|Schedule Column No||National Code and Course Name|
|E||FNSSAM402A Implement a sales plan|
|F||BSBCUS401B Coordinate implementation of customer service strategies|
|G||BSBCUS403A Implement customer service standards|
|H||FNSSAM401A Sell financial products and services|
Weekly Schedule FNSSAM401A Sell financial products and services
|1||10 Feb||Course Induction|
Employers expectations, sales methods and barriers
|2||17 Feb||Sales plans||1-3||1-2||1-3||1|
|3||24 Feb||Determining customer service needs, setting standards and systems||1-2||1-3||1-3||1-4|
|4||3 Mch||Implementing and evaluating service standards||2||1-3||1-3||1-4|
|5||10 Mch||Consultative and value versus product sales, understanding customers||1-3||1||1||1-2|
|6||17 Mch||Skills required to:|
1. Determine client needs
2. Present information to clients
|Task 1 due||2||1-2||1-3||1-2|
|7||24 Mch||Initial service and selling simulation practice and feedback||1-2||1-2||1-3||1-3|
|8||31 Mch||Initial service and selling simulation practice and feedback||1-2||1-2||1-3||1-3|
|9||7 April||Identify nature of enquiry||1||1||1-3||1-3|
|10||14 April||Determine client’s suitability||Task 2 due COB 16 April||1||2||2,3||2-3|
|17-23 Apr||MID SEMESTER BREAK|
|11||28 Apr||Present product and manage objections||1-2||1-2||2,3||3|
|12||5 May||Confirm and close sale||2-3||2||2,3||4|
|13||12 May||Dealing with complaints|
Monitor and review sales plan implementation and customer service
|14||19 May||Selling Simulation and feedback||Task 3 due||1-3||1-3||1-3||1-4|
|15||26 May||Selling Simulation and feedback||Task 3 due||1-3||1-3||1-3||1-4|
|16||2 June||Resubmissions if necessary||1-3||1-3||1-3||1-4|
Note: The teaching schedule is subject to change at the teacher’s discretion. Notification of changes can be made directly in class by the teacher, emailed to each student or via an announcement placed on the Blackboard.
No Text is prescribed, however students are encouraged to find their own resources, both printed and on-line.
Access via computer to Blackboard for student notes and activities
Relevant financial services documents such as promotional pamphlets
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.
Task 1 Group assignment (maximum 3 students) due Week 6
Full details will be provided on Blackboard, however broadly students will write a case study in report format (maximum 1200 words) regarding implementing customer services standards in a financial service company.
Students to select an organisation and one of its financial products, then:
State the target group was it aimed at, and their specific needs
The main way of promoting and selling this product
What customer service skills do staff need for this?
What activities are necessary for staff to provide these skills?
What underlying tasks are necessary for managers to support staff in providing good customer service
How can staff and managers determine whether their sales and customer service practices are successful
Task 2 Individual assignment| due Week 10
a. due Individual one page covering letter applying for a customer service position in a financial service organisation.
b. Research report (maximum 1000 words) advising financial service staff about how to provide good customer service in various customer interaction scenarios:
• face-to-face encounters
• phone calls
• email enquiries
• dealing with customer complaints
Task 3 Sales simulation due in either Week 14 or 15
Normally students will work in pairs, each taking turns in the role of buyer and seller. Each student will have a different customer profile and needs. When taking the role of the seller, each student will have to display good customer service skills, determine and confirm their customer’s needs and whether they are eligible for the product, select the best product for them, present this product appropriately to the customer both verbally and visually, and determine whether the customer is interested in making a contract for this product.
Assessment tasks must be submitted via the course Blackboard and though Turnitin, a plagiarism checking tool. Turnitin will assess your work in approximately one minute, and return a colour coded response for the originality of the text. For information on Turnitin see:
Student FAQ, http://www.rmit.edu.au/academicintegrity/studentfaq
Student procedures and account setup (pdf),
Turnitin student information page, https://www.turnitin.com/static/training/student.php
- Always retain a copy of your assessment tasks (hard and soft copy)
- Ensure that you submit assessments on or before the due date. If your performance is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz .
- When submitting any individual or group work for assessment at RMIT University you must complete, sign and submit a cover sheet in which sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet is available on blackboard.
- Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, s324567, Task 2, MKTG6077C Sell financial products, Page 1 of 10.
- Please note that to confirm your competency you may be questioned on any aspect of an assignment you submitted, either as an individual or as part of a group. In the case of a group assignment you may be questioned about any aspect of the assignment, even parts of it you may not have directly prepared.
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 of 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 state 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 recognised against industry standards and employability skills.
The grading is according to the following criteria:
1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK
Demonstrates a high level of ability to complete all tasks independently as per the specifications, a high level of initiative in interacting with a customer and selling a financial product.
2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING
Demonstrates depth of understanding of the key concepts and knowledge required in interacting with a customer and selling a financial product.
3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
Shows understanding of the kinds of problems that can arise in interacting with a customer and selling a financial product. and how these may be addressed.
4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
Demonstrates effective planning, manage and organise time through appropriately using a diary, submitting their assessments within deadlines.
5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
Contribute constructively and clearly to relevant group and class discussions, also demonstrate good techniques in collecting and providing information to appropriately sell products within the employer’s guidelines.
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