Elements and Performance Criteria

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.
Lender forms may include:
application forms
first home buyers grant forms
loan schedule/details
government grants and assistance forms
terms of loan.
Signatures gathered in an appropriate format may include:
electronically using appropriate security measures
in writing
verified by notary public, solicitor or equivalent
with appropriate witnesses or legal certifiers.
Information required to support loan application may include:
bank statements
copies of tax forms
documentation regarding special needs
written documentation from:
lawyers
friends or family who are assisting with the payment of the loan
banks
accountants
financial advisers.
Lender requirements and guidelines may include:
relevant and necessary documentation attached to the application
appropriate format
appropriate language and legal terms
appropriate signatures from legal authorities
clear and concise documentation.
Relevant processes may include:
appropriate credit checks being conducted in accordance with organisational and legal guidelines
appropriate organisational channels being utilised for approvals, feedback and editing of paperwork.
Documentation is submitted in appropriate manner may include:
electronically, such as:
email
internet
other secure methods
in writing.
Clear and open communication may include:
well-written documentation by:
fax
email
text message
telephone
face-to-face contact.
Additional information may include:
additional documentation from:
lawyers
accountants
past employers
current employers
tax departments
immigration
other relevant sources as requested by the lender.
Manner in which to proceed immediately following loan approval may include:
assisting with loan settlement, mainly in finance broking
attending settlement mainly in finance broking
client rights, obligations and responsibilities.

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:
write a loan to suit a lender's requirements providing all necessary support documentation
communicate efficiently and effectively with clients, lenders and other relevant parties.

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 products and information
access to lending policy and procedures documentation.

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