Course Title: Record and implement client instructions

Part B: Course Detail

Teaching Period: Term2 2012

Course Code: MKTG6076C

Course Title: Record and implement client instructions

School: 650T TAFE Business

Campus: City Campus

Program: C5261 - Diploma of Financial Planning

Course Contact : Michael Elliot

Course Contact Phone: +61 3 9925 5519

Course Contact Email:michael.elliot@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 75

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

There are no pre-requisites to this course but it is co-delivered with:

FNSFPL501A Comply w financial planning practice ethical & operational guidelines & regulations
FNSINC401A Apply principles of Professional Practice to work in Fin Services Industry
FNSFPL506A Determine client requirements and expectations
BSBITU402A Develop and use complex spreadsheets
FNSCUS505A Determine client requirements and expectations

Course Description

This course is aimed at executing client instructions satisfactorily

Being able to review and monitor client instructions and providing additional after sales services.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSCUS506A Record and implement client instructions

Element:

Execute instructions to satisfy client requirements

Performance Criteria:

1.1. The client is adequately identified and instructions given in good faith are confirmed and requirements sought
1.2. Relevant client instructions are recorded and documented promptly and accurately in accordance with organisation policy and guidelines, confidentiality requirements, and with relevant legislation or industry codes of practice
1.3.Client instructions are actioned with relevant personnel or section in accordance with client requirements, organisation policy and guidelines, confidentiality requirements, and with relevant legislation or industry codes of practice
 

Element:

Provide additional/after sales service

Performance Criteria:

Client documentation, information and histories are periodically reviewed to determine areas and extent of additional after sales service that can be provided
3.2. Potential areas of additional after sales service are communicated to clients utilising identified marketing strategies
3.3. Defined additional after sales service is agreed with clients and provided as required
3.4.Areas of client dissatisfaction are identified and acted upon in a prompt, professional and ethical manner, and in accordance with organisation policy and guidelines, confidentiality requirements, and with relevant legislation or industry codes of practice
 

Element:

Review and monitor implementation of client instructions

Performance Criteria:

2.1. Terms and conditions of agreed options and investment strategies are reviewed and monitored for consistency with client instructions
2.2. Implementation strategies and actions are regularly monitored and reviewed to ensure compliance with client instructions
2.3. Clients are regularly updated on the implementation and administration of their agreed investment strategies and instructions to ensure no breaches of agreement or anomalies occur
2.4.Clients are advised of changes to markets, legislative or organisation requirements or guidelines where appropriate
 


Learning Outcomes



Details of Learning Activities

Learning Activities will consist of classroom collaborative delivery of course notes and relevant exercises around student centred learning and research.


Teaching Schedule

Teaching Schedule
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.

Week                             Week Comm                           Topics                                                                                                   Assessment                                                                                  
025th June OrientationOverview
12nd July Pre-training review:
• RPL /LLN
Familiarisation with:
• Program
• Services/facilities
• Other students
• Teacher(s)
• Where to get support
• Student responsibilities
• Course requirements
• Course support documents
• Pre-reading
• Blackboard
• Overview of assessment requirements
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
Financial Services Industry – Module 1- Chapter 1
Spreadsheet exercises
 
 
29thJuly Spreadsheet exercises
Financial Services Industry – Module 1- Chapter 1
 
 
316th July
 
Financial Services Industry – Module 1- Chapter 2
 
 
423rd July Financial Services Industry – Module 1- Chapter 3

 

Assessment on Topics from weeks 1 and 2
Excel Activity Questions Grading (CA/NYC)
 
530th JulyStudent Study WeekNo Formal classes
66th Aug.Financial Services Industry – Module 1- Chapter 3
continued
 
 
713th Aug Financial Services Industry – Module 1- Chapter 4 
820th Aug Financial Services Industry – Module 1- Chapter 4
Continued
Financial Services Industry – Manage Client Services- Chapter 1
 
 
  Mid semester break (27th August to 31st August) 
93rd Sept. Financial Services Industry – Manage Client Services- Chapter 2 
1010th Sept. Financial Services Industry – Manage Client Services- Chapter 3 
1117th Sept. Financial Services Industry – Manage Client Services- Chapter 4

 

 
1224th Sept Financial Services Industry – Manage Client Services- Chapter 5
Introduction to Role Plays (This is outlining the assessment)
 
Final Role Play Assessment discussion
With teacher
 
131st Oct. Introduction to Role Plays (This is outlining the assessment)Final Role Play Assessment Practice
With teacher
 
148th Oct. Completion of role Plays and Final assessment review and DiscussionContinued as per above
(CA/NYC)
 
1515th Oct. Assessment 3 – (CA/NYC)
(From Topics covered in Weeks 3 to Weeks 14)
(CA/NYC)
 
1622nd Oct. Re-submissions if required 
1729th OctFeedback 


Learning Resources

Prescribed Texts


References


Other Resources


Overview of Assessment

Assessment may incorporate a variety of methods including written tests, a group assignment and final assessment.

Tests are closed book and consist of multiple choice, practical exercises and short answer questions.

The group assignment requires students to research the role and function of a financial institution or a major contemporary issue relating to the financial system and of concern to consumers.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.


Assessment Tasks

Assessment Tasks
You are required to complete the following tasks. You must successfully complete these tasks to be deemed competent in this unit.


TASK 1 CA/NYC
A Role Play as a client/adviser assessment on risk management.

TASK 2 (Week 15) CA/NYC
A two hour open book assessment covering Topics covered in Weeks 3 to Weeks 14


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
 


Assessment Matrix

Course Overview: Access Course Overview