Course Title: Determine client requirements and expectations

Part B: Course Detail

Teaching Period: Term1 2019

Course Code: MKTG7918C

Course Title: Determine client requirements and expectations

School: 650T Vocational Business Education

Campus: City Campus

Program: C5379 - Diploma of Financial 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: 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


Course Description

This unit describes the 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 applies to individuals who may provide leadership, guidance and responsibility for work outcomes.


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


The unit 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.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSCUS505 Determine client requirements and expectations


1. Develop awareness of clients' situation

Performance Criteria:

1.1 Obtain relevant facts and information courteously and professionally to determine clients’ situation prior to defining their expectations, requirements and objectives

1.2 Encourage clients to disclose relevant information to determine their personal and financial situation and special needs

1.3 Develop summary analysis of clients’ financial position and determine their contact category based on extent of client disclosure

1.4 Determine if clients require execution or settlement only action and, if that is the case, do not offer or provide further advice


2. Obtain relevant knowledge of clients' financial position and risk profile

Performance Criteria:

2.1 Ascertain client s’ financial position where relevant

2.2 Identify risk and fraud indicators accurately and consistently


3. Determine client expectations and requirements with respect to financial markets advice

Performance Criteria:

3.1 Encourage clients to express and clarify their requirements, expectations and concerns, and respond promptly and appropriately to any identified concerns 

3.2 Determine clients’ investment needs and preferences with respect to financial product selection or portfolio

3.3 Obtain specialist advice where necessary or refer clients to appropriate personnel or organisation if required services are not available or cannot be provided

3.4 Analyse all information and facts provided by clients and determine appropriate risk or reward and asset allocation strategies in accordance with client requirements, organisational policy and guidelines, and relevant legislation or industry codes of practice


4. Prepare and update necessary documentation

Performance Criteria:

4.1 Complete all relevant client facts, financial and personal histories and disclosure documents, and file in accordance with organisational policy and guidelines and relevant legislation and regulatory requirements

4.2 Create or update client records where necessary, and file client documentation and information in a format and location readily accessible to other advisers

Learning Outcomes

Details of Learning Activities

The diploma is mainly taught face-to-face in a classroom setting with some structured online components. The online components will require you to actively participate in a teacher led e-learning environment through the use of discussion boards, online quizzes and action learning activities.

RMIT offers a variety of learning and teaching approaches including group discussions, tutorials, workplace simulated projects, online quizzes, role plays and case studies.

RMIT’s simulated work environment (Practice Firm), called The Swanston Banking Group Ltd, is a key feature of the diploma so we can deliver coursework and current industry practices. Within the firm you will be required to undertake a range of work-related activities. You will have the opportunity to develop skills in collaboration, structuring meetings, working with client files and engaging with simulated clients in the form of role plays. You will assume the role of the financial services industry professional working in the Practice Firm as an employee with a position description.  You will be expected to follow the bank’s policies and procedures.

In your roles you will be provided with a  customer brief and you will be required to assess the client’s future financial status, or research and recommend services and products to meet their needs.

We expect you to participate and contribute in all scheduled learning activities.

Teaching Schedule


This course is comprised of one single competency.

MKTG7918C - Determine Client Requirements and Expectations

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this 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  


Weekly Course Schedule:


Week Commencing





Establish the Client Relationship (Parts 1 - 3)




Establish the Client Relationship (Parts 4 - 5)




Identify Client Objectives

(Part 1)




Identify Client Objectives

(Part 2)




Cash Flow and Debt
(Parts 1 - 2)




Cash Flow and Debt
(Parts 3 - 4)

Assessment Task 1 Due Week 6 



Cash Flow and Debt
(Part 5)




Wealth Creation
(Parts 1, 2 and 3)





Wealth Creation
(Part 4)



Mid Semester Break (19 - 28 April 2019)




Students to finalise Weekly Tasks to date and Assessment Two

Assessment Task 2 Due week 10



Wealth Creation
(Parts 5 - 6)




Personal Taxation
(Parts 1, 2 and 3)




Personal Taxation
(Part 4, 5 and 6)




Personal Taxation
(Parts 7 and 8)




Students to finalise Weekly Tasks to date and Assessment Task 3

Assessment Task 3 Due Week 15


Develop and maintain your own knowledge and skills





Learning Resources

Prescribed Texts


Other Resources

Online learning materials can be accessed by going into the RMIT web sites Online Learning Hub.

The online learning materials listed include 

  • Course outlines
  • Power point Presentations
  • Supporting Reading material
  • Industry relevant articles
  • Activities

Overview of Assessment

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

Performance evidence

Evidence of the ability to:

  • obtain comprehensive information about clients to establish an overview of their financial situation and analyse to determine risk profile
  • build rapport with clients to determine their expectations and requirements with respect to financial product or portfolio advice
  • accurately prepare documentation and update client records according to organisational procedures and legislative requirements.

Knowledge Evidence

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

  • outline key requirements of relevant legislation and industry codes of practice relating to working with clients in financial services
  • describe the types of information used to determine the client’s financial situation and expectations
  • explain the principles of financial product sales techniques
  • explain key features of organisational policy and procedures for dealing with clients and recording information
  • describe the characteristics of quality client service techniques and tools.

Assessment conditions

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

  • common office equipment
  • an integrated client contact and information system and data
  • financial services product information.


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

This course is comprised of one single competency.

MKTG7918C - Determine Client Requirements and Expectations


You will demonstrate competency by undertaking three assessments.The assessments for this course have been designed to allow you to apply your learning to particular workplace scenarios and demonstrate your competence in a variety of ways.



This assessment task has been designed to allow you to demonstrate your understanding of the kinds of financial information you need to obtain from clients in order to effectively analyse their financial situation. You will take on the role of a financial consultant in Swanston Banking Ltd. (a simulated workplace environment)  and design your own financial Fact Find template that could be used by the organisation when interviewing and gathering information from its clients.

This assessment task is one of three required to demonstrate competency for this unit.


Assessment Task 2 - STUDENT Practical ASSESSMENT TASK Due Date: Week 11 

This practical assessment will allow you to demonstrate your ability to interview a range of clients about their financial situation.  You will use the Fact Find you developed in Assessment Task 1 to gather the required information as well as using active listening and questioning to clarify information. For this assessment task you will continue to assume the role of a financial consultant with Swanston Banking Ltd.



This assessment task has been designed to allow you to demonstrate your understanding of how to analyse clients’ financial information and determine appropriate risk and allocation strategies.  You will also be required to reflect upon how effective your Fact Find tool and client interview were in ascertaining the information you required.

This assessment task is one of three required to demonstrate competency for this unit.


Critical Aspects of assessments are described above in the performance evidence for this course.

Assessment Matrix

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 the Assessment task document that includes a declaration and statement of authorship.
  • 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.

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:

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:

Resubmissions (VET Programs):

If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. 

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.

Grading & re-submissions

Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course.

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:


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




Competency Achieved – Not 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