Unit of competency Outline
Date retreived
22/07/2026 11:40 PM AWST
22/07/2026 11:40 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.
Establish agreements with intermediaries for product distribution
Establish agreements with intermediaries for product distribution
Unit of competency
National Code
FNSSAM604A
FNSSAM604A
State Code
D4325
D4325
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
31/07/2014
Field of Education
081101 - Banking And Finance
Original Release Date
31/07/2014
Nominal Hours
80
Description
This unit describes the performance outcomes, skills and knowledge required to establish agreements with intermediaries for distributing financial products.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Identify potential intermediaries
- 1.1. Selection criteria are determined to achieve business plan outcomes
- 1.2. Target intermediaries are identified and matched against the selection criteria and approaches or suitable responses made to enquiries from potential intermediaries
2. Determine acceptability
- 2.1. Information provided with an application is checked to determine reliability, completeness and relevance
- 2.2. Proposed trading arrangements are assessed for compliance with industry code of practice and relevant legislation
- 2.3. Credentials are checked through appropriate agencies to ensure acceptability within organisation assessment criteria and recommendations made based on a valid assessment of information against acceptability criteria
3. Determine terms and conditions of trade
- 3.1. Terms and conditions of trade are determined to reflect the legal and commercial responsibility of the organisation and intermediary
- 3.2. Terms of trade incorporate method of operation, duties and responsibilities of both parties and defined in compliance with industry code of practice and relevant legislation
4. Convey the decision and terms of trade
- 4.1. Decision and terms of trade are conveyed in writing using plain language in a concise manner
- 4.2. Advice is provided in a timely manner to ensure currency of application
5. Negotiate variations where appropriate and document and confirm arrangements
- 5.1. Variations are negotiated within authorities and an acceptance by both parties to outcome evidenced in writing to confirm understanding
- 5.2. Agreements are prepared in writing using predetermined formats to evidence contractual relationship
- 5.3. A statement of intent is prepared where appropriate to reflect commercial understandings
- 5.4. Agreement documentation is filed and system records created and/or updated promptly
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.
Legislation may cover
industry codes of practice
Insurance (Agents and Brokers) Act
Insurance Contracts Act
Taxation Act
Trade Practices Act.
Assessment criteria and credentials may include:
credit references
experience
expertise and professionalism
financial viability
individual standing
market niche and penetration
organisation position
product lines
qualifications
technology
trade references
volume requirements.
Agreements may be:
agency agreements
binder agreements
broker agreements
underwriting agreements.
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.
Legislation may cover
industry codes of practice
Insurance (Agents and Brokers) Act
Insurance Contracts Act
Taxation Act
Trade Practices Act.
Assessment criteria and credentials may include:
credit references
experience
expertise and professionalism
financial viability
individual standing
market niche and penetration
organisation position
product lines
qualifications
technology
trade references
volume requirements.
Agreements may be:
agency agreements
binder agreements
broker agreements
underwriting agreements.
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:
set up effective agreements with other organisations to deal in the products and services of their organisation
determine the terms of trade and evaluate an intermediary agreement's 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.
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
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
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:
set up effective agreements with other organisations to deal in the products and services of their organisation
determine the terms of trade and evaluate an intermediary agreement's 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.
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
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT15 | FNSSAM604 | Establish agreements with intermediaries for product distribution | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S739 | FNS60610 | Advanced Diploma of Banking Services Management | Qualification |
| J604 | FNS60513 | Advanced Diploma of Superannuation | Qualification |