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.

Financial and lifestyle information may include:
adviser reports
occupation
employer
position description
term of employment
professional affiliations and memberships
income
tax returns & notices of assessment
balance sheets
profit/loss statements
estate planning documentation
relevant pastimes, hobbies and leisure activities
location of residence
location of occupation
access to medical services
exposure to disease
previous insurance history
supplementary questionnaires.
Non-medical risk factors may include:
financial circumstances
moral hazards
occupation
pastimes and activities
place of residence
travel.
Life risk is a potential change to health or wellbeing that would have an adverse effect on the financial sustainability of an individual, a family or a group, and may include:
death
total and permanent disablement
temporary loss of income resulting from accident or sickness
traumatic sickness or injury.
Moral risk factors may include:
illegal acts
improper acts
wilful acts
criminal history
claims history
over insurance
non-disclosure
an intention to commit suicide
unsustainable or uncertain financial circumstances
other circumstances that increase the likelihood of a claim but are unrelated to any genuine and disclosed risk of mortality or morbidity.
Risks rating systems may include:
cash extra loadings
class systems
numerical systems.
Risk acceptance criteria may include:
exclusions
loadings
other specific terms and conditions
standard cover conditions.
Procedures may include:
organisational complaints handling processes
organisational customer service charter
organisational guidelines
organisational policy
organisational privacy and confidentiality guidelines
organisational procedures.
Regulatory requirements may include:
insurance contracts legislation
life insurance legislation
corporations legislation
privacy legislation
Australian Securities and Investments Commission (ASIC) regulatory guides.

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:
apply highly developed analytical skills in relation to non-medical risk assessment
maintain and apply a thorough understanding of policy guidelines and administrative requirements
apply underwriting policies and procedures
perform tasks in accordance with relevant procedures and regulatory requirements.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the 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 records
access to corporate Privacy Policy
access to organisational policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples 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
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace projects and business simulations or scenarios.
Guidance information for assessment