Unit of competency Outline
Date retreived
22/07/2026 5:01 PM AWST
22/07/2026 5:01 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.
Interpret and use financial statistics and tools
Interpret and use financial statistics and tools
Unit of competency
National Code
FNSINC612
FNSINC612
State Code
OCZ74
OCZ74
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
091903 - Econometrics
Original Release Date
22/04/2021
Nominal Hours
55
Description
This unit describes the skills and knowledge required to access, interpret, analyse and record statistical data in the financial services industry. It encompasses producing new statistical information and reports from existing data using a range of tools and processes.It applies to individuals with an understanding of the sources of financial data, and statistical methods and techniques for analysis. It is a base unit on which other skills required for work in the financial services industry can be built. It applies across all sectors of the industry.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Apply statistical methods to work
- 1.1 Determine required work outcome and required data
- 1.2 Evaluate and select statistical tools and techniques applicable to financial services work to suit required work outcome
2. Source and interpret statistical data
- 2.1 Access internal and external data and information sources to gather required data
- 2.2 Validate data according to industry statistical standards
- 2.3 Verify currency and utility using data summaries and trends
- 2.4 Interpret and use sampling techniques and diagrammatic, graphical and tabular information to achieve required work outcome
3. Analyse data using statistical techniques and tools
- 3.1 Analyse statistical data according to organisational requirements and priorities
- 3.2 Analyse and apply tools and techniques to correct data errors
- 3.3 Produce reports of analysis in format suited to meet required work outcome
4. Record statistical data analysis results and records
- 4.1 Confirm accuracy and consistency of analysis with industry and organisational standards
- 4.2 File and store records to meet security requirements
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUP48 | FNSINC602 | Interpret and use financial statistics and tools | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BHX1 | FNS50222 | Diploma of Accounting | Qualification |
| BHW9 | FNS60222 | Advanced Diploma of Accounting | Qualification |
| BFX7 | FNS51220 | Diploma of Insurance Broking | Qualification |