Unit of competency Outline

Date retreived
23/07/2026 12:30 AM 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.

Present credit options to clients with special financial circumstances

Present credit options to clients with special financial circumstances

Unit of competency
National Code
FNSFMB513
State Code
OCZ67
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
02/02/2021
View on TGA
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
081101 - Banking And Finance
Original Release Date
22/04/2021
Nominal Hours
45
Description
This unit describes the skills and knowledge required to present credit options to clients with special financial circumstances, communicating complex information and completing, providing and maintaining required disclosures and documentation.The unit applies to individuals who use specialised knowledge and strong communication and interpersonal skills to convey complex information.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 state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Prepare to present credit options to clients
  • 1.1 Identify client objectives, requirements, level of financial understanding and special needs
  • 1.2 Determine legislative and regulatory requirements, codes of practice, and organisational policies and procedures related to presenting credit options to clients
  • 1.3 Identify organisational complaint handling policies and procedures
2. Discuss credit options with clients
  • 2.1 Guide client through credit options and discuss impact of each option
  • 2.2 Explain fees, charges and commissions to client and provide copies of research and other required documentation
  • 2.3 Disclose any commercial relationship of representative and organisation with the options
  • 2.4 Identify and address issues that require further consideration or consultation with other financial services professionals
  • 2.5 Confirm client understands credit options
  • 2.6 Define post-broking service to be provided and communicate to clients
3. Address concerns and provide alternative options
  • 3.1 Identify and respond to client concerns as required
  • 3.2 Escalate any risks and concerns with required personnel
  • 3.3 Provide alternative options to clients as required
  • 3.4 Obtain agreement to proceed from clients
4. Complete and maintain necessary documentation
  • 4.1 Record client interaction and agreement according to regulatory and legislative requirements, and industry codes of practice
  • 4.2 Share applicable documents with clients and obtain signatures
  • 4.3 Notify clients of required documents and evidence under proposed credit solution
No information
No information
Replaces
State Code National Code Title Type
AUR10 FNSFMB503 Present broking options to client with complex needs Unit of competency