Course Title: Sell financial products and services
Part B: Course Detail
Teaching Period: Term2 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:email@example.com
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
1.2. Needs of the customer are determined by questioning
1.3. Check is carried out to see whether the enquiry is within personal authorities or should be referred to appropriate personnel
2. Determine the suitability of the customer for the financial product or service
2.1. Products and /or services that might satisfy the customer's needs are identified
2.2. All information required to determine the eligibility of the customer for the product or service is obtained with predetermined risk assessment criteria applied in accordance with product or service requirements
2.3. Business proposal is prepared in compliance with legislation , regulations and codes of practice and personal authorities and if the business proposal is outside the defined guidelines, it is referred to appropriate personnel for further action
3. Provide customer with information about the product or service
3.1. Business proposal is presented to the customer and all product information is supplied
3.2. Customer queries are discussed and proposal clarified if required with follow-up arrangements made
4. Confirm sale and process documentation
4.1. Suitability of product and price are confirmed with the customer and agreement to proceed with the sale is obtained
4.2. Documentation is issued in accordance with organisation policy and procedures
4.3. Payment details are processed without delay and record systems updated promptly and accurately
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.
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 participate and contribute in all scheduled learning activities.
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
|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||7 Jul||Course Induction|
Employers expectations, sales methods and barriers
|2||14 Jul||Sales plans||1-3||1-2||1-3||1|
|3||21 Jul||Determining customer service needs, setting standards and systems||1-2||1-3||1-3||1-4|
|4||28 Jul||Implementing and evaluating service standards||2||1-3||1-3||1-4|
|5||4 Aug||Consultative and value versus product sales, understanding customers||1-3||1||1||1-2|
|6||11 Aug||Skills required to:|
1. Determine client needs
2. Present information to clients
|Task 1 due||2||1-2||1-3||1-2|
|7||18 Aug||Initial service and selling simulation practice and feedback||1-2||1-2||1-3||1-3|
|8||25 Aug||Initial service and selling simulation practice and feedback||1-2||1-2||1-3||1-3|
|1 - 7 Sept||MID SEMESTER BREAK||1||1||1-3||1-3|
|9||8 Sept||Identify nature of enquiry||1||2||2,3||2-3|
|10||15 Sept||Determine client’s suitability||Task 2 due|
|11||22 Sept||Present product and manage objections||1-2||1-2||2,3||3|
|12||29 Sept||Confirm and close sale||2-3||2||2,3||4|
|13||6 Oct||Dealing with complaints|
Monitor and review sales plan implementation and customer service
|14||13 Oct||Selling Simulation and feedback||Task 3 due||1-3||1-3||1-3||1-4|
|15||20 Oct||Selling Simulation and feedback||1-3||1-3||1-3||1-4|
|16||27 Oct||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.
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.
This competency is co-delivered with the following courses:
MKTG7841C - Implement customer service standards;
MKTG6078C - Implement a sales plan; and
MKTG6088C - Coordinate implementation of customer service strategies
Critical aspects of Assessments:
Evidence of the following is also essential:
- interact with customers, collect the necessary information and match customers’ needs to company products or service
- sell products and services including matching customers’ requirements to company products and services and finalise and record the sale.
You are required to complete 3 three tasks. You must successfully complete all three tasks to be deemed competent in this unit.
Task 1 Group Assignment (maximum 3 students) due Week 6
For this assessment task you are to write a case study in report format (maximum 1200 words) regarding implementing customer services standards in a financial service company.
You will be asked to select an organisation and one of its financial products, decide the audience and their specific needs and address the following:
- The target group the product was aimed at, and to address which specific needs?
- The main way of promoting promoting and selling this product
- The customer service skills staff need to sell to and service the target customers
- The activities necessary for staff to develop these skills
- The underlying tasks managers have to perform to support their staff in providing good customer service
- How staff and managers may determine whether their sales and customer services practices are successful.
Task 2 Individual Assignment due Week 10
For this assessment task you are to write a 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 Week 14
For this assessment task you are to pair with another student and create a role play scenario of a buyer and seller. Each one of you will have a different customer profile and needs. When taking the role of the seller, you 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.
- 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: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
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: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
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: http://rmit.edu.au/browse;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