Course Title: Develop and maintain in-depth knowledge of products and services used by an organisation or sector

Part B: Course Detail

Teaching Period: Term2 2016

Course Code: ACCT5395C

Course Title: Develop and maintain in-depth knowledge of products and services used by an organisation or sector

School: 650T Vocational Business Education

Campus: City Campus

Program: C4369 - Certificate IV in Banking Services

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 40

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


Course Description

This unit describes the skills and knowledge required to develop and maintain an in-depth knowledge of the financial products and services provided by an organisation, or those an organisation uses, and how they may be applied to client needs.

It applies to individuals who work in various roles in the financial services industry sector and with a wide range of financial products or services.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector


1. Identify products and services organisation uses

Performance Criteria:

1.1 Identify products and services used by organisation or sector and determine their purpose

1.2 Identify characteristics of products and services and their strengths, weaknesses, terms and conditions

1.3 Communicate clearly to clients the characteristics of products and services

1.4 Access and apply organisation’s promotional strategy for products and services in business activities


2. Identify compliance implications of product

Performance Criteria:

2.1 Establish and document compliance implications

2.2 Provide client with all necessary information and documentation as per compliance requirements



3. Determine appropriate users for products and services

Performance Criteria:

3.1 Identify and document function of each product and service, and client needs it satisfies

3.2 Determine client characteristics that best suit each product

3.3 Compare products and services used by organisation or sector with products of competitors

3.4 Determine most effective approach to matching products to client needs

3.5 Evaluate approaches to selling products and services in competitive marketplace

3.6 Determine effective approaches to meeting client needs



4. Maintain product knowledge

Performance Criteria:

4.1 Review relevant products and services regularly and apply any changes to terms and conditions in daily work

4.2 Establish and use systems for keeping up with changes and maintaining up-to-date knowledge about relevant products and services

4.3 Review emerging trends affecting the financial services industry and apply to product and service knowledge


Learning Outcomes

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.



Teaching Schedule


Induction Session

Prior to training commencement a program level induction session will be conducted that comprises the following:


  • Program overview and requirements
  • MyRMIT/Blackboard
  • Overview of assessment requirements
  • Pre-Training Review including:

o    Recognition of Prior Learning and Credit Transfers

o    Assessment of current skills and knowledge

  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support

Student responsibilities


Please refer to the program shell for further information.

Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

develop and use systems to maintain currency of knowledge of financial products, compliance and client characteristics.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:

  • explain systems that can be accessed to obtain up-to-date information on products, services and competition
  • describe the products and services used by the organisation or sector and their purpose
  • describe products and services used by competitors that are similar to those of the organisation
  • explain different marketing methods and approaches to promoting or selling financial products and services
  • identify organisational policy in terms of promotional and marketing strategies
  • describe ethical and regulatory conditions that must be adhered to in promoting products and services to clients
  • outline general client characteristics and needs for the organisation or sector

    Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the industry capability field and include access to:

  • financial services product information
  • ◾common office equipment, technology, software and consumables

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.


Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.

Assessment Tasks

Please refer to the program shell for detailed information.

Assessment Matrix


Please refer to the program shell for detailed information.


Other Information


Submission Requirements

You should:

  • 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, Callie Harvey, 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

Form to use:

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:;ID=g43abm17hc9w (unresolved)

Form to use:

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:;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:



Competent with High Distinction




Competent with Distinction




Competent with Credit




Competency Achieved – Graded




Not Yet Competent




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