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.


telephone enquiries

face-to-face enquiries

written communication

electronic communication


require referral to senior staff including supervisors or specialist advisers


computer and manual application forms

written advice

disclaimers

disclosures


advice on specific products or services being offered by the organisation

whether the adviser's primary duty is to the customer or the life company


advice relating to their individual financial situation

the needs of people from different cultural backgrounds

age groups

people with a disability


have specific definitions under the Financial Services Reform Act


ASIC Act, policy guidelines

relevant financial associations business rules and codes of conduct

company guidelines

company operating manuals

company policy manuals


policy statements

procedures manuals

system specifications

operating guides

brochures

in-house publications

prospectuses

reports (research/statistical/ad hoc/transaction/other)

legal/government/professional/other documents

costing manuals


telephone or face-to-face scripts

brochures

computer prompts and systems

training tools

financial services guides

advice guides


details on investment returns

guarantee periods

cooling off periods

relevant interest rates

contract details

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:

knowledge of relevant legislation supporting the provision of advice to clients
knowledge of products and services available to clients
ability to create rapport with the client
ability to analyse client needs to identify appropriate provision of advice
ability to present general advice to the client
knowledge of the role and location of advisers within the organisation

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 applicable to the work 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:
Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.
Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.

Resources required for assessment:
Unless otherwise specified, there are no significant resource implications for assessment of this unit, apart from access to a relevant workplace or closely simulated office environment and the use of a range of office equipment, technology and consumables. These may include standard commercial computer hardware, software, telephones, facsimiles, and other relevant office equipment.