Course Title: Identify and develop credit options for clients with special financial circumstances
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: BAFI5252C
Course Title: Identify and develop credit options for clients with special financial circumstances
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C5419 - Diploma of Finance and Mortgage Broking Management
Course Contact: Mandeep Chahil
Course Contact Phone: +61 3 9925 5980
Course Contact Email: mandeep.chahil@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 60
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
Nil
Course Description
This unit describes the skills and knowledge required to identify special financial circumstances of a client, consider complicated issues such as economic and legislative requirements, and develop credit strategies and solutions for the client.
The unit applies to individuals who apply research and analytical skills to complex and multifaceted scenarios to develop customised solutions for clients.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSFMB512 Identify and develop credit options for clients with special financial circumstances |
Element: |
1. Determine special financial needs and risk profile |
Performance Criteria: |
1.1 Identify client goals, objectives, requirements and situation 1.2 Assess special financial needs of client situation and discuss with client 1.3 Identify and discuss risk issues and tolerance with client 1.4 Assess impact of risks to client according to legislative requirements and organisational guidelines and procedures 1.5 Develop recommendations on risk management strategies 1.6 Communicate complaints resolution procedures to client |
Element: |
2. Research and analyse complex credit options |
Performance Criteria: |
2.1 Determine client opportunities and constraints according to client needs, requirements and special financial needs and circumstances 2.2 Research loan structures and options according to client needs, requirements and special financial needs 2.3 Analyse client's special financial needs 2.4 Model, analyse and prioritise suitable options for client, and reject inappropriate options 2.5 Select complex credit options for review with client |
Element: |
3. Finalise complex credit options |
Performance Criteria: |
3.1 Assess ability to successfully meet client goals and objectives 3.2 Obtain and develop explanatory material for client 3.3 Respond to queries from client as required |
Learning Outcomes
On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
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, 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. There are 5 assessments for this course that need to be completed to be deemed competent.
Teaching Schedule
|
Week
|
Week Beginning |
Topic |
Assessment Remarks |
|
1
|
22nd of April 2024
|
Section 1 –Lender and Loan types
Activity Refer to pages 1-19 of the learner guide. Get the students to discuss and to post on the discussion board on canvas what a non-regulated loan consists of and why it is not covered by the NCCP.
|
|
|
2 |
29th of April
|
Activity Read p.20-42 What are the risks posed by commercial lending? Students to discuss on the discussion board. |
|
|
3 |
6 May
|
Section 2 – Loan Characteristics Read page 43-56.
Activity Post on the discussion board the 3 main core products currently in the market and why are they core products in question. |
Assessment Task 1 due this week |
| 4 | 13th of May |
General Lending Criteria Activity Regarding fees write on the discussion board the main fees you will need to explain to a client when it comes to regulated loan for home loan.
|
|
|
5 |
20th of May
|
Thought Process for Application and Assessment - Read page 65-74
Activity Research and post your findings on the discussion board on what are the main requirements needed for a small business loan. |
Students to consult their trainer around Assessment 2 |
| 6 | 27 of May |
Loan interview to settlement. Read pages 75-84.
Activity Use the fact finder/clients' needs review document and fill it with a simulated client. Discuss the issues you encountered with your assessor in tutorials. |
|
7 |
3rd June |
Fees
Activity On the discussion board discuss the purpose product comparison report.
|
Assessment 3 due |
| 8 | 10 June |
Process applications for credit. Read pages 102 -115.
Reading and understanding financials On the discussion board discuss why application is not likely to be approved in the first place |
Assessment 4 |
9 |
17 June |
Activity Explain on the discussion board the benefits of PEXA. |
Assessment 5 |
Learning Resources
Prescribed Texts
References
Other Resources
Students will need to regularly access the appropriate content folders in Canvas and complete learning activities as advised by their teacher.
It is expected that students will need to complete some learning tasks in their own time.
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
This assessment task is the first of four (4) assessment tasks that you need to complete satisfactorily in this unit. All four assessment tasks must be satisfactorily completed to be deemed competent for this unit.
Assessment Task 1- Due in Week 3
Task 1 is based on a Case Study 1 Scenario.
Assessment Task 2- Due in Week 5
Task 2 is based on based case study 2 Scenario
Assessment Task 3 Due in Week 7
Task 3 is based Case Study 3 Scenario
Assessment Task 4- Due in Week 8
Task 4 is based on Case Study 4 Scenario
Assessment Task 5 Due in Week 9
Task 5 is based on Case study 5 Scenario
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 Canvas
- 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, John Calabro 324567, Task 2, OHS2345C Grow the Practice, Page 1 of 10
Assessment Matrix
The assessment matrix that maps all the assessment is available in Canvas under 'Assignments'.
All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory
Other Information
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: https://www.rmit.edu.au/students/my-course/assessment-results/special-consideration-extensions
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, and you will achieve one of the following results:
Final results table
CA Competency Achieved
NYC Not Yet Competent
DNS Did Not Submit one or more assessment tasks
Other Resources
Learning resources will be accessible via the Canvas learning management system.
Course Overview: Access Course Overview