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.


money market

foreign exchange market

equity or share market (as traded on the Australian Stock Exchange)

options and futures markets

short term money market


investors (made up of corporations and individuals)

speculators (also made up of corporations and individuals)

local and international Governments

banks and non-banking financial institutions


banker to the Commonwealth Government, banks and other financial institutions

managing government debt

setting and implementing monetary policy

regulating the payments system

maintaining financial stability and regulating the Australian Payments System


increases or decreases in the supply of money in the Australian economy

changes in interest rates

flow on changes to employment, prices and production levels


acting to avoid or minimise a systemic collapse of financial institutions


providing facilities for final settlement of transactions

participating in the financial system as banker to the Commonwealth Government

fulfilling its regulatory responsibilities by controlling risks and promoting efficiencies


as a means of exchange for acquiring goods and services

indications of relative values between goods and services

measure of liquidity


transactions demand (the need for money to pay everyday predictable expenses)

precautionary demand (the demand for money to pay future expenses which may not be anticipated)

speculative demand (the demand for money to be able to take advantage of future price changes in favour of the purchaser)


purchase or building of residential accommodation

applications for home loans

retail spending

tourism within Australia by Australians

purchase of private health insurance

purchase of university education


enabling participants to raise required funds (by issuing securities)

enabling participants to invest surplus funds (by buying securities)


equity or share market (as traded on the Australian Stock Exchange)

money market

bond market

foreign exchange market

financial futures market

options market

derivatives markets


commercial bills

promissory notes

bills of exchange

treasury notes

Government bills


Australian Securities and Investment Commission (ASIC)

Australian Prudential Regulation Authority (APRA)

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
To achieve competency in this unit, a person must be able to demonstrate
an ability to develop client awareness of the features and roles of the participants within the Australian financial system and markets
high level communication skills
ability to translate complex information into plain language that may be understood by a variety of people with minimal financial market knowledge

Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts which are applicable to the individual learner and the learning environment.

Delivery/assessment relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment:
This unit may be assessed in a formal learning environment, in the workplace or within the environment of a related service provider such as counselling or advisory services.

Resources required for assessment:
Assessment of this unit of competency requires access to information about Australia's financial system and other markets, basic economics, software and other resources relevant to the unit of competency.