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.


personal loans, credit cards, debit cards, commercial loans, home loans or any other financial service or product that has been developed by and for your organisation


interest rates

flexibility

time limits

fees

transferability


marketing and promotional plans

strategic plans


FSRA requirements

Product Disclosure Statements

Industry Code of Practice requirements

Relevant Acts and legislation


flexibility of services

ability to change services

family concerns

age considerations

amount of savings and income


age

marital status

income

profession

geographic location


database systems

seminars

induction programs

training programs


changes in the economic climate

changes in the political/international climate

new technologies

financial market changes

interest rate changes

valuation of currency

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:

the ability to identify and describe the financial products and services their company uses and/or provides, their unique characteristics, how they rate to competitors, and the type of customers and customer needs they are best suited for

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:
This unit may be assessed in a simulated work environment. Assessment of performance requirements in the unit should be undertaken in an industry context.

Resources required for assessment:
Assessment of this unit of competence requires access to:
qualified assessors and assessment guidelines
a system which facilitates recording of trainee's profiles and progress
facilities for workplace or simulated environment assessment.