Unit of competency Outline

Date retreived
22/07/2026 9:02 PM AWST

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Apply knowledge of international finance and insurance to complete work requirements

Apply knowledge of international finance and insurance to complete work requirements

Unit of competency
National Code
BSBINT306B
State Code
D0768
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
10/03/2009
View on TGA
State Implementation and Classification
Approved Date
24/10/2014
Field of Education
080311 - International Business
Original Release Date
24/10/2014
Nominal Hours
40
Description
This unit describes the performance outcomes, skills and knowledge required to apply knowledge of international finance and insurance to complete work requirements.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Maintain currency of knowledge of finance and insurance
  • 1.1. Assess personal knowledge and skills in the area of finance and insurance against needs and available standards to determine currency and adequacy of own knowledge and skills
  • 1.2. Identify the various insurance types available and their application for international trade
  • 1.3. Identity knowledge and skills gaps
  • 1.4. Undertake development to ensure currency and adequacy of knowledge and skills in applying finance and insurance to own work
2. Identify information requirements and access available information
  • 2.1. Determine specific needs for information
  • 2.2. Access enterprise resources to obtain available information
  • 2.3. Check and access information from available resources against specific needs
  • 2.4. Access further information if required
3. Interpret and analyse available information
  • 3.1. Collect and collate available information for analysis
  • 3.2. Interpret, analyse and process available information to obtain required information
  • 3.3. Seek assistance of enterprise personnel and relevant third parties if required, to interpret, analyse and synthesise required information
  • 3.4. Check outputs of analysis process against required information and specific needs
  • 3.5. Undertake further research and analysis to meet specific needs if required
4. Apply knowledge to specific international trading operations
  • 4.1. Use outcomes of research and analysis to facilitate international trading operations in compliance with relevant legislation (Australian and international), trade conventions and agreements, and international financing arrangements
  • 4.2. Complete documentation according to enterprise standards, instructions supplied with document or form, and directions obtained from originator of form or document
  • 4.3. Check documentation for accuracy and correctness by self and manager or supervisor as required
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.
Available standards may include:
competency standards
enterprise standards
industry standards
specific training courses related to international trade
Development may include:
formal training courses
industry-based seminars
information sessions hosted by government departments, industry associations
mentoring/coaching arrangements
reading programs
Enterprise resources may include:
enterprise knowledge management system
enterprise library or filing system
government publications (Australian and international)
other personnel in the enterprise
Accessing information may include:
external resources, internet, government agencies
external libraries
information 'hotlines' and 'help desks'
International Chamber of Commerce
specialist external consultants
Documentation may include:
financial calculations related to taxation, fees, quotations
forms such as insurance claims or applications for policies, banking forms, internal requirements
letters, memos, reports, other internal documents
permit applications with regulatory authorities
Originator of documentation may include:
external sources including bank or financial institution, insurance broker or agency, regulatory authority
internal sources within organisation
Accuracy and correctness may include:
accuracy of calculations
correct spelling, grammar and syntax
required format
veracity of information supplied
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 following is essential:
accessing, analysing and applying information related to finance and insurance to international trading operations
completing documentation related to finance and insurance of international trading operations
knowledge of financial risk and financing options for mitigating risk.
Context of and specific resources for assessment
Assessment must ensure:
access to an actual workplace or simulated environment
access to office equipment and resources
examples of case studies relating to finance and insurance in international trading operations.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
review of development taken to ensure currency and adequacy of knowledge and skills in applying finance and insurance to own work
analysis of responses to case studies and scenarios
observation of presentations on financial and insurance requirements for international transactions
oral or written questioning to assess knowledge of importing and exporting requirements
assessment of research undertaken in determining international finance and insurance requirements
assessment of completed documentation.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
finance units or other international business units.
Replaces
State Code National Code Title Type
C7771 BSBINT306A Apply knowledge of international finance and insurance to complete work requirements Unit of competency
Replaced By
State Code National Code Title Type
AUK15 BSBINT306 Apply knowledge of international finance and insurance to complete work requirements Unit of competency