Unit of competency Outline
Date retreived
22/07/2026 4:19 PM AWST
22/07/2026 4:19 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.
Provide Tier 1 general advice in general insurance
Provide Tier 1 general advice in general insurance
Unit of competency
National Code
FNSASICO503A
FNSASICO503A
State Code
D4216
D4216
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
29/07/2014
Nominal Hours
45
Description
This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including that administered by Australian Securities and Investments Commission (ASIC).This unit covers the functions undertaken by non-broker insurance advisers providing general advice in Tier 1 general insurance to a consumer or current client.Conditions relating to ASIC training requirements and accreditation should be obtained from ASIC. Tier 1 general insurance products are defined by ASIC as:personal sickness and accident insurance; and/orgeneral insurance products the licensee deems non-standard or complex.Personal sickness and accident insurance may be complex and the choices a client makes may have an increased potential to impact significantly the client's financial situation. Similarly, some general insurance products offered to clients are not straightforward or standard.In both cases, consumers place a greater reliance on an adviser's competence for advice on these products and adviser training at the Tier 1 level is required.General advice is defined by ASIC in its regulatory guides relating to the conduct and training of financial service product advisers. This unit requires the application of skills and knowledge to identify where the consumer is seeking general rather than personal product advice and to follow the appropriate steps to provide this level of advice.There is a substantial component of generic, core and specialist general insurance knowledge that must be developed by the adviser as part of this unit in order to meet the ASIC training standards for Tier 1 general advice.
Notes
Elements and Performance Criteria
1. Deal with initial client enquiry for general insurance
- 1.1. Consumer enquiries are attended to in a timely and courteous manner
- 1.2. Active listening skills are demonstrated in dealing with consumer enquiries and help and assistance is provided to ensure the full and accurate completion ofinitial documentation where required
- 1.3. Clear and unambiguous communication is undertaken with the consumer to determine and clarify the product of interest to them
- 1.4. The range of products of interest to the consumer are analysed to determine their categorisation as areas of general advice in line with legislation and organisation policy
- 1.5. Consumers are informed that general advice will be provided to them in relation to the products of interest and that only personal information for underwriting and calculating the cost of the product will be sought
- 1.6. The consumer is referred to appropriate specialist personnel where required advice is deemed to fall outside the category of general advice
2. Prepare general advice to client
- 2.1. The correct disclosure documentation is provided in accordance with legislation and organisational policy
- 2.2. A general advice warning is given to the consumer in line with legislative and organisation policy
- 2.3. Special communication needs of clients or consumers are considered in delivering general advice warning
3. Provide general advice
- 3.1. The product advice is given to the consumer in a clear and unambiguous way avoiding jargon and in a language appropriate to the receiver and using organisational tools
- 3.2. Product and industry knowledge appropriate for advice offered is demonstrated when providing advice to the client
- 3.3. Product advice is explained and discussed with the client in language that avoids giving the impression the adviser has considered the consumer's personal circumstances in providing the advice
- 3.4. Client is requested to consider the appropriateness of the advice in the light of their own circumstances
- 3.5. Client is advised to read the product disclosure statement before making a decision
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.
Consumer enquiries may include:
electronic communication
face-to-face enquiries
telephone enquiries
written communication.
Initial documentation may include:
computer and manual application forms.
Legislation and organisation policy may include:
ASIC Act and its regulatory guides
organisation guidelines, operating and policy manuals
general insurance code of conduct.
Disclosure documentation may include:
financial services guide
product disclosure statement.
General advice warning:
has a specific definition under the Financial Services Reform Act.
Special communication needs include:
people from different cultural backgrounds
people with a disability.
Organisational tools may include:
brochures
computer prompts and systems
financial services guides
telephone or face-to-face scripts.
Product and industry knowledge may include:
insurance policy terms and conditions.
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.
Consumer enquiries may include:
electronic communication
face-to-face enquiries
telephone enquiries
written communication.
Initial documentation may include:
computer and manual application forms.
Legislation and organisation policy may include:
ASIC Act and its regulatory guides
organisation guidelines, operating and policy manuals
general insurance code of conduct.
Disclosure documentation may include:
financial services guide
product disclosure statement.
General advice warning:
has a specific definition under the Financial Services Reform Act.
Special communication needs include:
people from different cultural backgrounds
people with a disability.
Organisational tools may include:
brochures
computer prompts and systems
financial services guides
telephone or face-to-face scripts.
Product and industry knowledge may include:
insurance policy terms and conditions.
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:
apply procedures to deal with consumer and clients to whom general rather than personal advice is to be provided at the Tier 1 level.
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 organisation records
access to organisational 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
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace projects and business simulations or scenarios.
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:
apply procedures to deal with consumer and clients to whom general rather than personal advice is to be provided at the Tier 1 level.
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 organisation records
access to organisational 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
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace projects and business simulations or scenarios.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUQ42 | FNSASICO503 | Provide Tier 1 general advice in general insurance | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S713 | FNS41410 | Certificate IV in General Insurance | Qualification |
| S727 | FNS51110 | Diploma of General Insurance | Qualification |