Elements and Performance Criteria

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.


value of the dollar

interest rates

political climate

economic climate

media, press and public relations reports


accounting

insurance

retail financial services

lending services

banking

financial planning

credit management

credit and lending services

mercantile management

finance and mortgage broking

conveyancing

risk management

loss adjusting

worker compensation
financial markets


industry codes of practice

occupational health and safety (OH&S) legislation

Anti-discrimination legislation

Consumer Credit Code

Privacy Act

legislation covering competition, prudential regulation

finance code

Electronic Funds Transfer (EFT) code of conduct

Financial Transaction Reports Act

Corporations Act (including Accounting Standards)

Business Names legislation

Financial Services Reform Act (FSRA)

Taxation Law

Australian Accounting Standards

Superannuation Industry (Supervision) (SIS) Act

Australian Competition and Consumer Commission (ACCC) Section 60


company and customer charters

best practice guidelines

complaint and grievance procedures

franchise agreements

industry procedures manuals

industry policy documents

operating manuals

customer services statements

company codes of practice

induction program


maintaining confidentiality

use of company property, resources and authority

duty of care

non-discriminatory practices

conflict of interest

full disclosure of remuneration/fees and other conflicts of interest which may influence the adviser's recommendation

good faith

mission statements

induction program

guidance from supervisor


insurance premiums

tax

bank balances, reconciliations

interest

income expected

payments

forecasts of capital growth

profits forecasts


in person

by telephone, facsimile or other electronic means

written document

application form


professional workshops

community courses

in-house programs

coaching and mentoring

conferences

e-learning

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

To achieve competency in this unit, a person must be able to demonstrate:

knowledge of products and services provided by sector
knowledge of relevant legislation, regulations and industry codes of practice applicable to the workplace
ability to analyse, evaluate and organise relevant information
ability to plan work taking into account any constraints and available resources
ability to identify and evaluate professional development opportunities

Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.

Delivery/relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment:
This unit may be assessed in the workplace or a simulated environment.

Resources required for assessment:
Assessment of this unit of competence requires access to appropriate technology and software.