Unit of competency Outline
Date retreived
21/07/2026 11:19 PM AWST
21/07/2026 11:19 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Apply advanced selling techniques to selling of financial products and services
Apply advanced selling techniques to selling of financial products and services
Unit of competency
National Code
FNSSAM501A
FNSSAM501A
State Code
D4319
D4319
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
080501 - Sales
Original Release Date
29/07/2014
Nominal Hours
50
Description
This unit describes the performance outcomes, skills and knowledge required to develop a sales strategy using advanced techniques and to monitor and evaluate its success.This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Identify products or services that would benefit from a focused sales approach
- 1.1. Appropriate products and services are identified on the basis of customer needs, particularly where the needs are not adequately met by current approaches
- 1.2. Ideas for a special approach to selling these products and services and satisfying customer needs are generated and discussed with colleagues and selected customers
- 1.3. Checks are carried out to identify if sales enquiries are within staff personal authorities and, where not, referred to appropriate personnel
2. Develop approach to selling the product or service
- 2.1. Possible product or service selling approaches are selected discussed with others, developed and revised with the most useful approach selected for a trial
- 2.2. Checks are undertaken to see that the selling approach complies with organisation policy and procedures and relevant legislation
- 2.3. Selling script is developed and salespeople trained in the approach for the intended market segment
3. Pilot the approach
- 3.1. Selling approach is trialled and reviewed based on results of the pilot
- 3.2. The approach is documented and presented to appropriate personnel for approval
4. Evaluate approach
- 4.1. Criteria for evaluation of the selling approach are developed
- 4.2. Sales and other relevant data are collected and plan is evaluated on the basis of data
- 4.3. Results are documented and used to determine future sales strategies
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Ideas may be generated by:
brainstorming sessions
customers
staff and managers
think tanks
workshops based on creative processes.
Organisational policy and procedures and relevant legislation may include:
anti-discrimination legislation
Australian Prudential Regulation Authority (APRA)
business names legislation
Consumer Credit Code
Corporations Act (including Accounting Standards)
Electronic Funds Transfer (EFT) Code of Conduct
Finance Code
Financial Services Reform Act (FSRA)
Financial Transaction Reports Act
industry codes of practice
organisational policies, procedures and code of ethics
Privacy Act
taxation law.
Selling script may include:
answers to frequently asked questions
introductory techniques
planned approaches
strategies for handling negative comments.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Ideas may be generated by:
brainstorming sessions
customers
staff and managers
think tanks
workshops based on creative processes.
Organisational policy and procedures and relevant legislation may include:
anti-discrimination legislation
Australian Prudential Regulation Authority (APRA)
business names legislation
Consumer Credit Code
Corporations Act (including Accounting Standards)
Electronic Funds Transfer (EFT) Code of Conduct
Finance Code
Financial Services Reform Act (FSRA)
Financial Transaction Reports Act
industry codes of practice
organisational policies, procedures and code of ethics
Privacy Act
taxation law.
Selling script may include:
answers to frequently asked questions
introductory techniques
planned approaches
strategies for handling negative comments.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
develop an effective approach to selling financial services products and services
apply high level analysis skills to identify appropriate products and services, develop new selling ideas, pilot them and evaluate their success.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to financial services product information
access to workplace policies, procedures and information system.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
observing processes and procedures in workplaces or role plays
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
accessing and validating third party reports.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
develop an effective approach to selling financial services products and services
apply high level analysis skills to identify appropriate products and services, develop new selling ideas, pilot them and evaluate their success.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to financial services product information
access to workplace policies, procedures and information system.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
observing processes and procedures in workplaces or role plays
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9806 | FNSICSAM502B | Apply advanced selling techniques to selling of financial products and services | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT00 | FNSSAM501 | Apply advanced selling techniques to selling of financial products and services | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S725 | FNS50910 | Diploma of Banking Services Management | Qualification |
| D725 | FNS51811 | Diploma of Financial Services | Qualification |
| S727 | FNS51110 | Diploma of General Insurance | Qualification |