Unit of competency Outline
Date retreived
22/07/2026 4:45 PM AWST
22/07/2026 4:45 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.
Process applications for credit
Process applications for credit
Unit of competency
National Code
FNSCRD301A
FNSCRD301A
State Code
D4081
D4081
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
21/02/2012
Field of Education
081101 - Banking And Finance
Original Release Date
21/02/2012
Nominal Hours
15
Description
This unit describes the performance outcomes, skills and knowledge required to apply product knowledge and advisory skills in order to identify, confirm and process applications for credit prior to assessment in accordance with organisational and legislative requirements.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. Check and verify application details
- 1.1. Information required to support application is gathered in accordance with credit policy and information recorded using correct organisation policies and procedures
- 1.2. Information provided by applicant and obtained from other sources is verified for accuracy and compliance with relevant legislative requirements and organisational requirements
2. Submit assessment and decision
- 2.1. The decision to reject or accept an application is formed on the basis of total credit assessment conducted and credit policy
- 2.2. Decisions to advance funds or extend credit that fall outside the officer's approval or limits of authority are referred to relevant approving personnel
- 2.3. Recommendations to accept or reject applications to provide credit or advance funds and any required security are prepared and forwarded to relevant personnel promptly and in accordance with organisation procedures
3. Maintain application records and complete necessary documentation
- 3.1. Records system is kept up to date and maintained according to legislative requirements and timeframes and organisation policy and procedures
- 3.2. File and record movements are monitored and recorded
- 3.3. Documentation is produced accurately, clearly and concisely, in accordance with industry, organisation and legislative requirements and timeframes
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.
Information can be obtained via:
face-to-face interview at:
lender's office
applicant's home
worksite
off-site
facsimile
internet
mail
teleconference
telephone interview.
Relevant legislative requirements may include:
Australian Securities and Investments Commission (ASIC) Act
Cheques and Payment Orders Act
Electronic Funds Transfer (EFT) Code of Conduct
Financial Institutions (FI) Code
Financial Transaction Reports Act
National Consumer Credit Protection Act
Personal Property Securities Act.
Privacy Act
Prudential requirements
secrecy laws.
Credit assessment may be made by:
designated approval staff
the interviewer
a central lending unit.
Credit policy includes reference to:
compliance
national Consumer Credit Protection Acts requirements
satisfactory credit history
security requirements.
Security may include:
application may be for an unsecured or secured loan
goods mortgage
real property mortgage
third party security:
co-borrower
guarantor
Personal Property Securities Act requirements.
Organisation policy and procedures may include information in regard to:
administrative and clerical systems
coding systems
lender requiring or not requiring mortgage indemnity insurance
product and account and service range
range of responsibility.
Documentation may include:
approval of offer documents
disclosure and associated documents
loan schedule
security documents.
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.
Information can be obtained via:
face-to-face interview at:
lender's office
applicant's home
worksite
off-site
facsimile
internet
teleconference
telephone interview.
Relevant legislative requirements may include:
Australian Securities and Investments Commission (ASIC) Act
Cheques and Payment Orders Act
Electronic Funds Transfer (EFT) Code of Conduct
Financial Institutions (FI) Code
Financial Transaction Reports Act
National Consumer Credit Protection Act
Personal Property Securities Act.
Privacy Act
Prudential requirements
secrecy laws.
Credit assessment may be made by:
designated approval staff
the interviewer
a central lending unit.
Credit policy includes reference to:
compliance
national Consumer Credit Protection Acts requirements
satisfactory credit history
security requirements.
Security may include:
application may be for an unsecured or secured loan
goods mortgage
real property mortgage
third party security:
co-borrower
guarantor
Personal Property Securities Act requirements.
Organisation policy and procedures may include information in regard to:
administrative and clerical systems
coding systems
lender requiring or not requiring mortgage indemnity insurance
product and account and service range
range of responsibility.
Documentation may include:
approval of offer documents
disclosure and associated documents
loan schedule
security documents.
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:
thoroughly check to ensure that application details are accurate
apply knowledge of relevant legislation
interpret and comply with credit policy in accordance with the national Consumer Credit Code
use relevant data entry, office equipment and software.
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 credit product information
access to a relevant software system and data
access to organisation 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 or role plays
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:
thoroughly check to ensure that application details are accurate
apply knowledge of relevant legislation
interpret and comply with credit policy in accordance with the national Consumer Credit Code
use relevant data entry, office equipment and software.
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 credit product information
access to a relevant software system and data
access to organisation 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 or role plays
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9653 | FNSCRDT301B | Process applications for credit | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUQ78 | FNSCRD301 | Process applications for credit | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D703 | FNS30311 | Certificate III in Accounts Administration | Qualification |
| S707 | FNS40810 | Certificate IV in Finance and Mortgage Broking | Qualification |
| D708 | FNS40811 | Certificate IV in Finance and Mortgage Broking | Qualification |
| D702 | FNS30111 | Certificate III in Financial Services | Qualification |