Unit of competency Outline
Date retreived
22/07/2026 12:42 PM AWST
22/07/2026 12:42 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.
Present broking options to client
Present broking options to client
Unit of competency
National Code
FNSFMB403A
FNSFMB403A
State Code
D4104
D4104
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
080101 - Accounting
Original Release Date
29/07/2014
Nominal Hours
20
Description
This unit describes the performance outcomes, skills and knowledge required to collect information, conduct relevant research and develop and present broking options to a client.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Gather relevant information
- 1.1. Lender products, services and features are reviewed and additional industry information researched, where necessary, for lender products and services that are relevant, could impact or provide additional benefits to clients
- 1.2. Clients needs are acknowledged and compared to most appropriate lender product and service
2. Prepare appropriate options
- 2.1. Relevant lender information, product information, and support material are gathered and developedin a clear and concise format for the client
- 2.2. All information is organised clearly and concisely in a manner appropriate to the client's needs and level of understanding
3. Present options to client
- 3.1. Recommended product and its features is explained to client in a clear and unambiguous way with the impact of recommendations clearly and comprehensively discussed with the client including strengths, weaknesses, benefits and risks
- 3.2. Fees, charges and commissions are clearly explained to client
- 3.3. Strategic and commercial relationship of the representative and their organisation to recommended products is communicated to the client
4. Negotiate effectively
- 4.1. Client concerns, if any, are identified and responded to appropriately and alternatives to recommendations presented when requested
- 4.2. Client is encouraged to make informed choices using the relevant information and documentation presented
5. Obtain agreement to proceed
- 5.1. Agreement to proceed is obtained from client once concerns and issues are worked through and implementation actions discussed, clarified and agreed between client and broker
- 5.2. Client records are created or updated appropriately and in a clear and concise format in anticipation for preparation of the loan application
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.
Additional industry information may include:
financial reports and brochures
internet research
new company information about products, services and special features
statistics from respected magazines and consumer reports.
A format for presenting information may include:
a presentation prepared in advance:
in document format
presentation software
overheads
other presentation methods
a written report or proposal
verbal information presented directly to the client.
Products and product features may include:
additional payment features
fixed or variable rates features
investment property products
partial interest offset features
rate lock features
redraw features
residential mortgage products
for finance brokers specifically:
chattel products
commercial mortgage products.
Fees, charges and commissions may include:
commissions from lenders
commissions paid to franchisees
down payments
interest payments
loan establishment fees
loan value fees
taxes and payments to secure a property
stamp duty
trailing commissions.
Strategic and commercial relationships may include:
exclusivity of relationships with certain banks or lenders if products are those of the organisation.
Client concerns may include:
possible accrued debt
price/interest resistance
resistance to company or broker
risk
timing issues
uncertainty about the product.
Implementation actions may include:
collecting relevant information for loan processing
collecting support documentation for loan processing
obtaining signatures from relevant persons and officials.
producing accounting information
updating bank and finance information.
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.
Additional industry information may include:
financial reports and brochures
internet research
new company information about products, services and special features
statistics from respected magazines and consumer reports.
A format for presenting information may include:
a presentation prepared in advance:
in document format
presentation software
overheads
other presentation methods
a written report or proposal
verbal information presented directly to the client.
Products and product features may include:
additional payment features
fixed or variable rates features
investment property products
partial interest offset features
rate lock features
redraw features
residential mortgage products
for finance brokers specifically:
chattel products
commercial mortgage products.
Fees, charges and commissions may include:
commissions from lenders
commissions paid to franchisees
down payments
interest payments
loan establishment fees
loan value fees
taxes and payments to secure a property
stamp duty
trailing commissions.
Strategic and commercial relationships may include:
exclusivity of relationships with certain banks or lenders if products are those of the organisation.
Client concerns may include:
possible accrued debt
price/interest resistance
resistance to company or broker
risk
timing issues
uncertainty about the product.
Implementation actions may include:
collecting relevant information for loan processing
collecting support documentation for loan processing
obtaining signatures from relevant persons and officials.
producing accounting information
updating bank and finance information.
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:
identify relevant information based on industry and product knowledge and match it to client needs
present information to clients effectively
negotiate effectively and gain commitment from a client.
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 lending product information
access to relevant software system and data.
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
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:
identify relevant information based on industry and product knowledge and match it to client needs
present information to clients effectively
negotiate effectively and gain commitment from a client.
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 lending product information
access to relevant software system and data.
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
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9666 | FNSFBRK403B | Present broking options to client | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR02 | FNSFMB403 | Present broking options to client | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D710 | FNS41011 | Certificate IV in Banking Services | Qualification |
| S707 | FNS40810 | Certificate IV in Finance and Mortgage Broking | Qualification |
| D708 | FNS40811 | Certificate IV in Finance and Mortgage Broking | Qualification |
| D716 | FNS50311 | Diploma of Finance and Mortgage Broking Management | Qualification |