Course Title: Present credit options to clients with special financial circumstances
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: BAFI5253C
Course Title: Present credit options to 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: 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
Nil
Course Description
This unit describes the skills and knowledge required to present credit options to clients with special financial circumstances, communicating complex information and completing, providing and maintaining required disclosures and documentation.
The unit applies to individuals who use specialised knowledge and strong communication and interpersonal skills to convey complex information.
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: |
FNSFMB513 Present credit options to clients with special financial circumstances |
Element: |
1. Prepare to present credit options to clients |
Performance Criteria: |
1.1 Identify client objectives, requirements, level of financial understanding and special needs 1.2 Determine legislative and regulatory requirements, codes of practice, and organisational policies and procedures related to presenting credit options to clients 1.3 Identify organisational complaint handling policies and procedures |
Element: |
2. Discuss credit options with clients |
Performance Criteria: |
2.1 Guide client through credit options and discuss impact of each option 2.2 Explain fees, charges and commissions to client and provide copies of research and other required documentation 2.3 Disclose any commercial relationship of representative and organisation with the options 2.4 Identify and address issues that require further consideration or consultation with other financial services professionals 2.5 Confirm client understands credit options 2.6 Define post-broking service to be provided and communicate to clients |
Element: |
3. Address concerns and provide alternative options |
Performance Criteria: |
3.1 Identify and respond to client concerns as required 3.2 Escalate any risks and concerns with required personnel 3.3 Provide alternative options to clients as required 3.4 Obtain agreement to proceed from clients |
Element: |
4. Complete and maintain necessary documentation |
Performance Criteria: |
4.1 Record client interaction and agreement according to regulatory and legislative requirements, and industry codes of practice 4.2 Share applicable documents with clients and obtain signatures 4.3 Notify clients of required documents and evidence under proposed credit solution |
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
|
22 April 2024
|
** EACH WEEK THERE WILL BE ESSENTIAL READING FROM THE LEARNER GUIDE -THE MODULE OUTLINES HAVE PRECISE READING WEEK BY WEEK SCHEDULE
|
|
|
2 |
29 April |
Cont. Section 1 Begin looking at Complex loans. SMSF and Commercial loans
Students to discuss on discussion board in point form what data they require to produce for a complex loan.
|
|
| 3 |
6-May |
Section 2 Reading financial reports and managing risk assessment process
Understanding ratios.
|
Assessment 1 is due |
| 4 |
13 May
|
Lending Products and services
Activity On the discussion board who are the 4 regulators that as I broker, we need to be aware of, and their responsibilities?
|
|
| 5 | 20 May |
Business commercial products
Activity Research and post your findings on the discussion board on what does securitization mean. |
Assessment Task 2 is due |
|
6 |
27 May
|
Section 3 Read pages66-68 of the learner guide book
Activity On the discussion board write a brief discussion from a commercial finance perspective the two purposes of needing to finance businesses.
|
|
|
7 |
3rd June
|
Activity During the online class a group discussion around assessments and role plays will be undertaken.
|
Assessment Task 3 due this week |
| 8 | 10 June |
Section 3 - Lending products and services Read pages 74
ACTIVITY On the discussion board discuss why Bridging loans pose a risk? |
Assessment 4 is due |
| 9 | 17 June | Assessment 5 is due |
Learning Resources
Prescribed Texts
References
Other Resources
Learning resources will be accessible via the Canvas learning management system.
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
There are 5 assessments for this course that need to be completed to be deemed competent.
Assessment Task 1- Due in Week 3
Assessment 1 is a Knowledge Task based on a series of Short Answers.
Assessment Task 2- Due in Week 5
Assessment 2 is Case study assessment,
Assessment Task 3- Due in Week 7
Assessment 3 is a Role Play scenario.
Assessment Task 4 - Due in Week 8
Assessment 4 is a Role Play scenario
Assessment Task 5- Due in Week 9
Assessment 5 is a Role Play 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 work. An assignment cover sheet for the 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 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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
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
Course Overview: Access Course Overview