Course Title: Determine client requirements and expectations

Part B: Course Detail

Teaching Period: Term2 2020

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

John Calabro    P: 03 9925 5982   E:

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

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 the Canvas learning management system and include your contribution to discussion threads, project portfolios, 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.

Remote Learning

This course will be delivered via our existing learning management system, Canvas.  This means that, for the foreseeable future, there will be no face-to-face classes in any of the units for which you are enrolled.

Classes in each of your units will still take place in their normal scheduled time-slots, but instead of being conducted in a face-to-face mode, your teachers will utilise the Collaborate Ultra platform to deliver ‘live’ online classes.  These classes delivered online will not only provide you with the required learning materials for those sessions, but they will also enable interactions with your teachers and fellow students via forums or discussion boards.

Teaching Schedule

This course is comprised of one single competency: FNSCUS505/MKTG7918C Determine client requirements. 

Induction Session

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

  • Program overview and requirements
  • Canvas Learning Hub
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  •  Student responsibilities 

(The following schedule is subject to change)    



Class Schedule:Determine client requirements and expectations, Semester 2, 2020

Week Commencing



Week 1


Establish the Client Relationship (Parts 1 - 3)


Week 2


Establish the Client Relationship (Parts 4 - 5)


Week 3


Identify Client Objectives

(Part 1)


Week 4


Identify Client Objectives

(Part 2)


Week 5


Cash Flow and Debt
(Parts 1 - 2) 


Week 6


Cash Flow and Debt
(Parts 1 - 2)

Assessment Task 1 Due

Week 7


Cash Flow and Debt
(Part 5) 


Week 8


Wealth Creation(Parts 1, 2 and 3)





Week 9


Mid Term Break

Monday August 31st - 4th Sep 2020

(Part 4)- Wealth Creation





Assessment Task 2 Due

Week 10


Students to finalise Weekly Tasks to date and Assessment Two


Week 11


Wealth Creation
(Parts 5 - 6)


Week 12


Personal Taxation(Parts 1, 2 and 3)


Week 13

May 11

Personal Taxation(Part 4, 5 and 6)


Week 14


Personal Taxation
(Parts 7 and 8)


Week 15


Students to finalize Weekly Tasks to date and Assessment Task 3

Assessment Task 3 Due

Week 16




Week 17


Grade Entry





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 including the self - paced activities in the workbooks. 


Learning Resources

Prescribed Texts


Other Resources

Online learning materials can be accessed by going into the RMIT's Learning Management System, Canvas. 


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

You will demonstrate competency by undertaking three assessments. You must successfully complete all assessments to be deemed competent in this unit.  


Assessment Task 1: Project

Due:10/08/2020 (Week 6)

Summary and Purpose: 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 Instructions: Develop a Financial Fact Find Template to assist you to gather appropriate information from a client about their financial situation and expectations. (NOTE: You will actually be using this template to interview clients later in the course.)

Must be colourful and stand out with your firm’s name on it.

Your Fact Find should:

  • Align to organisational style guides
  • Include a summary of organisational policy and procedures (Swanston Banking Ltd) for dealing with clients and recording their information and how these align to relevant legislation and codes of practice within the financial services industry
  • Be designed to collect information about (as a minimum):
    • Personal, contact details and family situation
    • Employment Status, Superannuation and Income
    • Assets
    • Expenses (including debt)
    • Client Goals & Expectations (including investment, retirement, estate planning)
    • Health questions
    • Acknowledgement and Consent Forms (Will provide )


Some in class time will be provided to undertake this assessment task but you will also be expected to complete some of the assessment outside of class time.

You will be assessed according to the criteria outlined in the Criteria for Assessment below. All criteria identified must be addressed to satisfactorily complete this Assessment Task.


Assessment Task 2: Practical Assessment

Due: 07/09/ 2020 (Week 9) 

Summary and Purpose: 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.

Assessment Instructions: You will need to conduct 1 client interview (online) around investing in shares. The Interview is to be anyone aged from 25-60 years. You will need to explain to the clients the purpose and role around risk profile questionnaire. The objective is to explain the client’s investment preference and highlight any of the risks involved. The key objective is the creation of Wealth so your task is to help them meet those expectations and requirements.

Each interview should go for no more than 15 minutes and you should make it clear from the outset that this is a simulated activity and that you are not qualified to provide any financial advice or debt advice at this stage. Advice will only be provided once all the facts have been obtained.

The recording is to be done on MP4

You are expected to complete this assessment task outside of class time.

You will be assessed according to the criteria outlined in the Observation Checklist below. All criteria identified must be addressed to satisfactorily complete this Assessment Task.


Assessment Task 3: Student Project/Portfolio/Report

Due: 19/10/ 2020 (Week 15)

Summary and Purpose: 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.

Assessment Instructions: Using fact finder that is attached to this assessment scope advice document to help meet the client’s requirements and expectations around investing in a super fund with a chosen industry fund or retail fund.

Develop Asset Allocation Strategy for a portfolio around the clients risk profile (no more than 10 mins) and Must be on MP4 recording

Some in class time will be provided to undertake this assessment task but you will also be expected to complete some of the assessment outside of class time.

You will be assessed according to the criteria outlined in the Criteria for Assessment below. All criteria identified must be addressed to satisfactorily complete this Assessment Task.

Assessment Matrix

The competency assessment map that maps all the assessment tasks is available on Canvas.

Other Information


Submission Requirements

  • 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 a footer with your name, student number, the title of the assessment, unit code and title and page numbers.

Resubmissions (VET Programs)

If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task 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.

Penalties for Late Submission 

Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).

Extensions, Special Consideration and Adjustment to Assessments


Extensions are available for unforeseen circumstances of a short-term nature.

An application form must be submitted to the school at least one working day before the due date of the assessment.

Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)

Special consideration:

Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.

An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date

For more information, see the Special Consideration page of the RMIT website.

Adjustments to Assessment:

RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.

Changes to the Assessment Scheme

Where a change to assessment approved by the dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.


You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.

Academic Integrity and Misconduct

Students demonstrate academic integrity in their assessment practices by:

  • engaging with assessment activities in an honest way;
  • providing accountability for the authorship and originality of work submitted;
  • acknowledging the work of others and the re-use of original work.

Academic misconduct is addressed in accordance with the Student conduct policy

Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.

For further information see the Academic Integrity website.

Review and Appeal

A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.

Grade Criteria

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

The following grades are available for this course.

Vocational education grades:

CA - Competency Achieved

NYC - Not Yet Competent

DNS - Did Not Submit for assessment

Course Overview: Access Course Overview