Course Title: Establish, manage and administer trust accounts

Part A: Course Overview

Program: C5180

Course Title: Establish, manage and administer trust accounts

Portfolio: BUS

Nominal Hours: 50.0

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.

Course Code




Learning Mode

Teaching Period(s)


City Campus


650T TAFE Business


Term1 2008

Course Contact:

Course Contact Phone: +61 3 9925- 5701

Course Contact Email:

Course Description

This unit describes the function of establishing, managing and administering trust and/or controlled money accounts.

Pre-requisite Courses and Assumed Knowledge and Capabilities

Training Package Pre-requisites: NIL
RMIT Co-requisites: SOSK 5138C Apply principles of professional practice to work in the financial services industry (FNSICIND401A)

National Competency Codes and Titles

National Element Code & Title:

FNSCONV503A Establish, manage and administer trust accounts


Establish and manage trust accounts

Maintain records of trust transactions

Monitor and review trust accounts

Review for compliance with trust account requirements

Learning Outcomes

On completion of this course you should be able to:

  • demonstrate an understanding of the general operation of trust accounts,
  •  control and account in both a legal and ethical manner for all trust moneys received and paid,
  •  clearly report to stakeholders how trust monies have been dealt with.

Overview of Assessment

A student must demonstrate a clear understanding of all elements of the required competencies to be deemed competent. Assessment may include a variety of methods including tests, workbooks, presentations, class exercises, assignments etc. Formative feedback is provided throughout the course. This occurs by the teacher providing information to the student to inform them how they are succeeding in the course and areas that require more work to succeed. Formative feedback is not a piece of assessment that contributes to the student’s final result.