Course Title: Establish client relationship and analyse needs
Part B: Course Detail
Teaching Period: Term2 2014
Course Code: BAFI5197C
Course Title: Establish client relationship and analyse needs
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
Contact Number: 99255519
Nominal Hours: 50
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 satisfy the training requirements for authorisation by an Australian ASIC registered License (AFSL) holder to provide advice on deposit products, non-cash payment facilities and general insurance products at Tier 2 level.
This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by ASIC.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title:
FNSASIC301C Establish client relationship and analyse needs
1. Establish relationship with client
1.1. A range of communication and interpersonal skills are used to establish the knowledge level of the client
1.2. Enquiries in relation to products and services are responded to by explaining the range of products and services available and their relevant fee and charging methodology
1.3. Client is informed of the role of the adviser and the licensee/principal responsible for the adviser's conduct including procedures for complaints handling and the circumstances in which they should be engaged
2. Identify client' objectives, needs and financial situation
2.1. A range of communication and interpersonal skills are used to gather client personal, financial and business details
2.2. Client's needs and their product risk profile are identified by encouraging expression of their objectives and goals (short-, medium- and long-term goals as relevant to the product)
2.3. Client expectations of cash flow and relevant taxation obligations are established and confirmed
3. Analyse client's objectives, needs, financial situation and risk profile
3.1. An assessment of client’s needs is undertaken, utilising all information gathered and taking into account client’s product expectations and specific needs
3.2. Client isconsulted throughout the analysis for further clarification where necessary
3.3. The need for specialist advice is analysed and the client is referred to an appropriate adviser for higher level or specialist advice if required
3.4. Product risk profile of the client is assessed and agreed demonstrating understanding of the ASIC identified generic and specialist knowledge relevant to the products being offered
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.
Familiarisation with Course, Blackboard, Course requirements, Overview of assessment requirements, Where to get support, Student responsibilities
Submission Guidelines as outlined in course guide.
Task 1 - Individual Assignment
|2||14 July||Introduction to finance|
|3||21 July||Banking products and services – Personal loans|
|4||28 July||Banking products and services – Personal loans||
Task 1- Individual Assignment Due
You will receive the feedback in week 6.
|5||4 Aug||Introduction to personal financial statements|
|6||11 Aug||Introduction to personal financial statements||
Task 2 - Group Assignment distributed
|7||18 Aug||Personal Bank Overdrafts|
|8||25 Aug||Mortgage loans|
|1 - 7 Sept||MID SEMESTER BREAK|
|9||8 Sept||Assessment Task 2: Students will work on assessment task 2 in class / seek feedback on work in progress||
Task 2 - Group Assignment Due
You will receive feedback in week 12.
|10||15 Sept||. Deposit taking products - Part A|
|11||22 Sept||. Deposit taking products - Part B|
|12||29 Sept||Concepts of General Insurance, General Insurance Contracts, Insurance Products|
|13||6 Oct||Sum Insured, Excesses, Taxes & Levies, Stamp Duty, Fine Service Levy (FSL), Goods and Services Tax (GST).|
|14||13 Oct||In class Assessment||
Task 3 - In- class Assessment due
You will receive feedback in week 16.
|16||27 Oct||Feedback on assessment||You will receive the overall course feedback in week 16|
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.
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 course is co - delivered with the following competencies:
BAFI 5196C Assess credit applications
BAFI 55323C Develop and maintain in-depth knowledge of products and services used by an organisation or sector
BAFI 5198C Develop and present and negotiate client solutions
Critical aspects of assessment
Evidence of the ability to:
- interpret and comply with industry regulations and codes of practice including, for insurance products, the required approval or authority to accept the transfer of risk
- analyse the characteristics of financial products and services, financial markets and the roles of other specialist providers and licensees
- assess the impacts of taxation on client’s financial requirements for specific products considered
You are required to complete 3 tasks. You must successfully complete all 3 tasks to be deemed competent in this unit.
TASK 1 - Individual Assignment (28 July: Week 4)
For this assessment task you will be undertaking an individual assessment that will assess your knowledge of Financial Industry Terms and characteristics of investment instruments.
TASK 2 - Group Assignment (8 Sept: Week 9 )
For this assessment task you will be undertaking a Group Assignment on Customer Service Skills and Product Comparison and Recommendation.
TASK 3 - In - Class Assessment (13 October: Week 14)
For this assessment task you will be undertaking a two hour in class assessment during your scheduled class, consisting of Short Answer questions and Financial Calculations based on all Instructional Topics taught throughout the semester.
• 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