Course Title: Apply ethical frameworks and principles to make and act upon decisions

Part B: Course Detail

Teaching Period: Term2 2023

Course Code: BUSM8913C

Course Title: Apply ethical frameworks and principles to make and act upon decisions

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:

Please read the Student website for additional requirements of in-person attendance:

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:

Name and Contact Details of All Other Relevant Staff

John Calabro


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 apply ethical frameworks and principles when making decisions in own role.

The unit applies to individuals who use ethical principles and apply ethical frameworks to decide on, carry out, and evaluate the effectiveness of a course of action in response to an ethical situation in their workplace.

The skills in this unit must be applied according to commonwealth, state and territory legislation, and applicable national standards and industry codes of practice or similar instruments.

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 regulatory authorities to confirm those requirements.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSINC514 Apply ethical frameworks and principles to make and act upon decisions


1. Frame the ethical question applicable to the situation

Performance Criteria:

1.1 Analyse context of situation and identify ethical principles that may apply

1.2 Analyse psychological tendencies and decision-making biases potentially influencing stakeholders

1.3 Identify potential breaches to regulatory requirements if situation is not addressed

1.4 Analyse ethical situation in the context of organisation’s purpose and values

1.5 Evaluate impact on organisation’s reputation if response to situation was in the public domain


2. Determine ethical response to situation

Performance Criteria:

2.1 Identify key stakeholders and analyse potential impacts

2.2 Analyse situation using an ethical decision-making framework and determine preferred course of action

2.3 Identify situational and psychological barriers impeding the analysis of, and response to, ethical situation

2.4 Seek advice on proposed actions from trusted adviser in the case of highly complex or sensitive matters

2.5 Formulate strategies and processes for responding to situational and psychological barriers


3. Develop implementation plan and carry out ethical response to situation

Performance Criteria:

3.1 Develop an implementation plan for ethical response

3.2 Identify reasons and rationalisations that may be encountered when speaking up on ethical issues, and analyse how to respond to them

3.3 Identify risks and stakeholder concerns, and communication strategies that acknowledge and mitigate them

3.4 Implement planned ethical response independently or with the support of colleagues, as required


4. Evaluate outcomes of ethical response

Performance Criteria:

4.1 Evaluate outcomes of response to ethical situation and identify whether the issue has been resolved and whether other courses of action could or should have been taken

4.2 Determine consequences of action for self and affected parties

4.3 Analyse what the outcomes of the course of action reveal about own and organisational values

4.4 Identify improved approaches for responding to future ethical situations

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

Students will be engaged in a variety of pre-class, in-the-class, and post-class activities as outlined in the relevant Canvas shell. 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.

Teaching Schedule



Assessment Remarks 


  • Introduction to unit and teacher
  • Learning Unit guide – discussion
  • Elements of Competency – What will the unit cover
  • Overview of Assessments 1 –2
  • Subject protocols – methods of delivery/facilitation
  • Required materials
  • Communication

Section 1

Introduction and an Overview of the importance of ethics around the industry in financial services.


Discuss the terms Ethics and morals and application to financial services.

Section 2

Introduction to industry guidelines, procedures, and legislation



Best Interest Duty has a higher standard with brokers than if you approach a bank for a loan. Discuss.

Post in week 1 Discussion Board



Cont with Section 2

with Section 2 industry guidelines, procedures, and legislation



Read either the FBAA code of conduct or MFAA Code of Practice. Would you say they ensure ethical protection for consumers?

Post in week 2 Discussion Board


Section 3 – Managing information

Refer to Documentation used in the industry.



What are your ethical obligations when interviewing clients?

Post in week 2 Discussion board



 Cont. Section 3 – Managing information



What are the main documents to ensure ethical standards are meet in the event of an audit taking place?

Post in week 3 Discussion Board



Students’ questions around assessment task 1 answered.


Section 4: Developing and maintaining personal competency.



Read p.140 of the learner guide and discuss why feedback from customers and peers on an ongoing basis helps with standards,


Post in week 3 Discussion Board



 Section 4: Developing and maintaining personal competency.



Identify The Different Types Of Ethical Training You Can Include as part of your PD for the year as required,

Post in week 4 Discussion Board

Section 5: Industry Codes of Practice –

Introduction to all the main codes which impact the broking industry.



Upon joining any of the 2 major broking associations what are the requirements that you need to provide both associations apart from your qualification from RMIT

 Assessment Task 1 due this week





Cont.: Section 5: Industry Codes of Practice –



Discuss ASIC’s role regarding the industry codes of practice/conduct
Post in week 5 Discussion board


Examine the difference between ethical standards and legal standards.

Ethical behaviour and context around business is examined.

Post in week 5 Discussion Board



Short answer questions around ethical framework.

Feedback given on Assessment Task 1 and any person needing to resubmit will be provided with explanation of shortfall and requirements to be addressed in order to reach a satisfactory standard


Cont 6: Ethics



Read the statement around the findings in the Royal Commission into Misconduct in the banking, Superannuation and Financial Services industry and discuss the statement made regarding the mortgage broking industry.

Post in week 6 Discussion Board



Group discussion around Assessment Task 2. Students’ questions answered and guidance provided.



Case study/role play scenarios to be discussed in the discussion board.

Teacher to monitor so feedback can be provided

 Assessment Task 2 due this week



During the online class a group discussion around final assessment and role plays will be undertaken. Students will then post any further questions in the discussion board.

Teacher to monitor so feedback can be provided


Feedback given on Assessment Task 2 and any person needing to resubmit will be provided with explanation of shortfall and requirements to be addressed to reach a satisfactory standard


Final Discussion on role play before assessment date.

Assessment Task 3 will be due at the end of week 8


Re-submissions/final results


Learning Resources

Prescribed Texts


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

This unit is clustered (taught and assessed) with:

BUSM6651C (FNSINC411) Conduct work according to professional practices in the financial services industry. 

There will be three (3) assessment tasks in this course, and you must complete all of them satisfactorily to be deemed competent. 

Assessment Task 1- Due in Week 4

This assessment is a Knowledge based assessment. You will need to research and answer ten (10) knowledge-based questions based on the scenarios provided. 

Assessment Task 2-Due in Week 7 

Case-study- By responding to the case study questions, you will be demonstrating your knowledge of ethical principles and apply ethical frameworks to decide on, carry out, and evaluate the effectiveness of a course of action in response to an ethical situation in their workplace.

Assessment Task 3- Due in Week 8

Role-play- This assessment task builds on the scenarios that you worked with in Assessment Task 2. Review Assessment Task 2 to refresh your memory. The scenarios have been provided for you again below. You will use the information in the scenario to participate in two role - plays.

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

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 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, 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:


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 (VE Programs)


If you are assessed as unsuccessful in an 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.

If you are assessed as unsuccessful in your resubmission of an assessment task you then you should consult with your course teacher to determine whether any further resubmission opportunities may be available. Your request will be considered by your course teacher, 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:


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