Course Title: Determine client requirements and expectations

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: MKTG6074C

Course Title: Determine client requirements and expectations

School: 650T TAFE Business

Campus: City Campus

Program: C5317 - 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: 70

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

None

Course Description

This unit describes the performance outcomes, skills and knowledge required to establish a client’s financial requirements and expectations in regard to financial investment products and includes quotations, claims and requests for service or amendments.


It does not cover the application of the specific skills and knowledge required to recommend and provide advice on specific financial products requiring Australian Securities and Investments Commission (ASIC) licensing.


No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSCUS505A Determine client requirements and expectations

Element:

1. Develop an awareness of the client's situation
1.1 Relevant facts and information are obtained courteously and professionally to determine client's situation prior to defining their expectations, requirements and objectives
1.2. Clients are encouraged to disclose relevant information to determine their personal and financial situation and special needs
1.3. Summary analysis of client's financial position is developed and the client contact categorised based on extent of client disclosure
1.4.Further advice is not offered or provided if client is categorised as requiring execution or settlement-only action
 

Performance Criteria:

1.1 Relevant facts and information are obtained courteously and professionally to determine client's situation prior to defining their expectations, requirements and objectives
1.2. Clients are encouraged to disclose relevant information to determine their personal and financial situation and special needs
1.3. Summary analysis of client's financial position is developed and the client contact categorised based on extent of client disclosure
1.4.Further advice is not offered or provided if client is categorised as requiring execution or settlement-only action

Element:

2. Obtain relevant knowledge of client's financial position and risk profile
2.1. Where relevant, client financial position is ascertained
2.2.Risk and fraud indicators are identified accurately and consistently
 

Performance Criteria:

2.1. Where relevant, client financial position is ascertained
2.2.Risk and fraud indicators are identified accurately and consistently
 

Element:

Determine client expectations and requirements with respect to financial markets advice
3.1. Client is encouraged to express and clarify their requirements and expectations and their concerns, if any are identified and responded to promptly and appropriately
3.2. Client's investment needs and preferences with respect to financial product selection or portfolio are determined
3.3. Specialist advice is sought where necessary or client is referred to appropriate personnel or organisation where required services are not available or cannot be provided
3.4.All information and facts provided by client are analysed and appropriate risk or reward and asset allocation strategies are determined in accordance with client requirements, organisation policies and guidelines and with relevant legislation or industry codes of practice
 

Performance Criteria:

3.1. Client is encouraged to express and clarify their requirements and expectations and their concerns, if any are identified and responded to promptly and appropriately
3.2. Client's investment needs and preferences with respect to financial product selection or portfolio are determined
3.3. Specialist advice is sought where necessary or client is referred to appropriate personnel or organisation where required services are not available or cannot be provided
3.4.All information and facts provided by client are analysed and appropriate risk or reward and asset allocation strategies are determined in accordance with client requirements, organisation policies and guidelines and with relevant legislation or industry codes of practice
 

Element:

Prepare and update necessary documentation where required
.4.1.All relevant client facts, financial and personal histories and completed disclosure documents are completed and filed in accordance with organisation policy and guidelines and relevant legislation and regulatory requirements
4.2.Client records are created or updated where necessary and client documentation, information
 

Performance Criteria:

4.1.All relevant client facts, financial and personal histories and completed disclosure documents are completed and filed in accordance with organisation policy and guidelines and relevant legislation and regulatory requirements
4.2.Client records are created or updated where necessary and client documentation, information
 


Learning Outcomes



Details of Learning Activities

This unit is delivered using a blend of classroom based and self -paced learning activities.


Teaching Schedule

Week                                                                                                                                                                 Week              Comm                                                     Topics                                                                                                                                                                                                                                                      Assessment
1 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
 
2 Spreadsheet exercises
Financial Services Industry – Module 1- Chapter 1
 
 
3 Financial Services Industry – Module 1- Chapter 2 
4 Financial Services Industry – Module 1- Chapter 3Assessment on Topics from weeks 1 and 2
Excel Activity Questions Grading (CA/NYC)
 
5 Financial Services Industry – Module 1- Chapter 3
continued
 
 
6 Financial Services Industry – Module 1- Chapter 4 
7 Financial Services Industry – Module 1- Chapter 427th (Wednesday)last day of teaching before Easter break. Classes resume Thursday 4th of April
                                                                                                                                                                             Mid semester break (28th March to 3rd April)
8 Financial Services Industry – Module 1- Chapter 4
Continued
Financial Services Industry – Manage Client Services- Chapter 1
 
 
9 Financial Services Industry – Manage Client Services- Chapter 2 
10 Financial Services Industry – Manage Client Services- Chapter 3 
11 Financial Services Industry – Manage Client Services- Chapter 4 
12 Financial Services Industry – Manage Client Services- Chapter 5
Introduction to Role Plays (This is outlining the assessment)
 
Final Role Play Assessment discussion
With teacher
 
13 Introduction to Role Plays (This is outlining the assessment)Final Role Play Assessment discussion
With teacher
 
14 Completion of role Plays and Final assessment review and DiscussionContinued as per above
(CA/NYC)
 
15 Assessment 3 – (CA/NYC)
(From Topics covered in Weeks 3 to Weeks 14)
 

(CA/NYC)
 
16 Re-submissions if required 
17 Feedback 


Learning Resources

Prescribed Texts


References


Other Resources


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 their progress.

 


Assessment Tasks

You are required to complete 3 tasks. You must successfully complete all 3 tasks to be deemed competent in this unit.

TASK 1 ( Week 3)
This will consist of a multiple choice question and short answer assessment. CA/NYC

TASK 2 (Week 13) CA/NYC
An individual assignment requiring students to conduct research into risk management.
The above task will be presented in report format (approx. 300- 500 words per recommendation).

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


Assessment Matrix

Course Overview: Access Course Overview