Unit of competency Outline
Date retreived
22/07/2026 2:41 PM AWST
22/07/2026 2:41 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.
Meet industry and legislative guidelines and organisational procedures relating to insurance broking
Meet industry and legislative guidelines and organisational procedures relating to insurance broking
Unit of competency
National Code
FNSIBK405A
FNSIBK405A
State Code
D4183
D4183
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
29/07/2014
Nominal Hours
45
Description
This unit describes the performance outcomes, skills and knowledge required to apply industry and organisation procedures, guidelines, policies and standards in a daily work context within an insurance broking business. It encompasses professional development and training activities to maintain and transfer knowledge into practice.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Identify relevant guidelines and procedures
- 1.1. Effects on role of legislative, industry and brokerage guidelines and procedures are determined
- 1.2. Up-to-date checklist of operational procedures is maintained and observed
2. Work in accordance with guidelines and procedures
- 2.1. Work tasks are carried out in accordance with specific organisation policy, guidelines and procedures
- 2.2. Regulations, codes and procedures set out in organisation compliance manuals in relation to the provision of information, retail and other advice are complied with
- 2.3. Insurance and insurance broking codes of practice are used to guide an ethical approach to workplace practice and decisions
- 2.4. Assistance in clarifying the application of the guidelines, procedures and legislation is sought from appropriate personnel where necessary
3. Develop and maintain personal competency in work tasks
- 3.1. Training needs and goals are identified and reviewed on a regular basis
- 3.2. Competency, authorisation and licensing requirements are clarified
- 3.3. Professional development opportunities that reflect needs and goals are sought and completed in an agreed upon timeframe
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.
Legislative, industry and brokerage guidelines and procedures may include:
anti-discrimination legislation
best practice guidelines
organisation codes of practice
complaint handling procedures
customer services standards
Financial Services Reform Act (FSRA) and ASIC regulatory guides on adviser conduct
induction program
Insurance Broker Code of Practice
Insurance Contracts Act
occupational health and safety (OHS) legislation
Privacy Act
procedures and/or operating manuals
training plans.
Work tasks may include:
broking advisory work
claims or policy administration
initial customer service
internal administration and support.
Appropriate personnel may include:
colleagues
compliance officers
managers or supervisors
senior broking or management staff.
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.
Legislative, industry and brokerage guidelines and procedures may include:
anti-discrimination legislation
best practice guidelines
organisation codes of practice
complaint handling procedures
customer services standards
Financial Services Reform Act (FSRA) and ASIC regulatory guides on adviser conduct
induction program
Insurance Broker Code of Practice
Insurance Contracts Act
occupational health and safety (OHS) legislation
Privacy Act
procedures and/or operating manuals
training plans.
Work tasks may include:
broking advisory work
claims or policy administration
initial customer service
internal administration and support.
Appropriate personnel may include:
colleagues
compliance officers
managers or supervisors
senior broking or management staff.
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:
implement operational procedures to meet compliance requirements from financial services industry regulations and other legislation
interpret and comply with organisation policy and procedures, relevant legislation and insurance broking codes of practice
perform work within a quality customer service environment.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the 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 organisation records
access to organisational policies and procedures.
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
verbal or written questioning on underpinning knowledge and skills
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:
implement operational procedures to meet compliance requirements from financial services industry regulations and other legislation
interpret and comply with organisation policy and procedures, relevant legislation and insurance broking codes of practice
perform work within a quality customer service environment.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the 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 organisation records
access to organisational policies and procedures.
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
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR42 | FNSIBK405 | Meet industry and legislative guidelines and organisational procedures relating to insurance broking | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S728 | FNS51210 | Diploma of Insurance Broking | Qualification |
| S716 | FNS41710 | Certificate IV in Insurance Broking | Qualification |