Unit of competency Outline

Date retreived
22/07/2026 3:24 AM AWST

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Interpret and use financial statistics and tools

Interpret and use financial statistics and tools

Unit of competency
National Code
FNSINC602
State Code
AUP48
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
091903 - Econometrics
Original Release Date
16/09/2015
Nominal Hours
55
Description
This unit describes the skills and knowledge required t to access, interpret and analyse statistical data relevant to the financial services industry. It encompasses producing new statistical information and reports from existing data using a range of tools and processes.It applies to individuals with a thorough understanding of the sources of financial data, and statistical methods and techniques for analysis. It is a base unit on which other skills required for work in the financial services industry can be built. It may be applied in all sectors of the industry.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Apply statistical methods to work
  • 1.1 Evaluate and select appropriate statistical methods that apply to financial services work to suit required work outcome
  • 1.2 Understand and effectively use suitable tools and techniques for statistical analysis
2. Source and interpret statistical data
  • 2.1 Identify and access internal and external data and information sources to gather relevant current data
  • 2.2 Validate data in accordance with industry statistical standards
  • 2.3 Use data summaries and trends to verify currency and utility
  • 2.4 Interpret correctly and use sampling techniques and diagrammatic, graphical and tabular information for required purpose
3. Analyse data using appropriate techniques and tools
  • 3.1 Reflect organisational requirements and priorities in analysis of statistical data
  • 3.2 Use analysis and descriptive tools and techniques to meet required outcomes and correct any data errors
  • 3.3 Produce on time reports of analysis in appropriate detail and format, including use of diagrammatic, graphical and tabular information
4. Record statistical data analysis results and records
  • 4.1 Validate records of data and statistical analysis to ensure accuracy and consistency with industry and organisational standards
  • 4.2 File and store records for easy retrieval while meeting all security requirements
No information
No information
Replaces
State Code National Code Title Type
D4172 FNSINC602A Interpret and use financial statistics and tools Unit of competency
Replaced By
State Code National Code Title Type
OCZ74 FNSINC612 Interpret and use financial statistics and tools Unit of competency