Unit of competency details

Unit descriptor 

This unit of competency covers the competence required to determine the finance/leasing and insurance requirements of customers and complete documentation, taking into account legal requirements.

Application of the unit 

This unit of competency applies to the following and should be contextualised to the qualification to which it is being applied:

• retail, service and repair administration/sales vehicle sales - finance.

Prerequisite units 

Employability skills 

This unit contains employability skills.

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

ELEMENT 

PERFORMANCE CRITERIA 

1. Identify finance/leasing options and documentation

1.1. Finance/leasing option is identified to meet specific needs of customer, including affordability and payment structure

1.2. A finance/leasing provider is identified

2. Apply finance/leasing documentation

2.1. Contracts and finance/leasing documents are completed and agreed/signed by customer

2.2. Legal requirements are identified and observed

3. Identify insurance policies and documentation

3.1. Type of insurance policy for customer is identified taking into account customer's requirements and insurance document and vehicle type and age

3.2. Insurance provider is chosen according to policy price, customer requirements and enterprise policies and procedures

4. Apply insurance documentation

4.1. Insurance contract/policy documentation is completed and agreed/signed by customer

4.2. Legal requirements are identified and observed

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the skills and knowledge required for this unit.

Required skills 

• collect, organise and understand information related to information from different insurance providers is collated
• communicate ideas and information presented to the customer
• plan and organise activities to obtain information for customers
• work with others and in a team by consulting experienced/ specialised staff
• use mathematical ideas and techniques to ensure variations in cover and cost are presented to the customer
• establish diagnostic processes for recommendations made on information supplied by the customer
• use workplace technology related to business technology to document insurance and finance information

Required knowledge 

Knowledge of:

• industry documents and how to maintain them
• various types of finance/lease agreements
• written communication
• oral communication skills
• various types of insurance policies
• legal requirements

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 

It is essential that competence is fully observed and there is ability to transfer competence to changing circumstances and to respond to unusual situations in the critical aspects of:

• correctly identifies and satisfies customer finance/ leasing and insurance requirements and completing documentation
• interpreting and conveying workplace information
• maintenance of workplace documents.

Context of and specific resources for assessment 

• The underpinning knowledge and skills may be assessed on or off the job.
• The assessment of practical skills must take place only after a period of supervised practice and repetitive experience. If workplace conditions are not available assessment, in simulated workplace conditions is acceptable.
• The prescribed outcome must be achieved without direct supervision.
• The following should be made available:

• a workplace or simulated workplace
• finance and leasing agreements
• insurance policies
• documents and stationery
• computer, calculator and general office equipment
• a qualified workplace assessor.

Method of assessment 

Practical assessments:

• maintain industry documents
• convey information both orally and in writing
• access, interpret and apply finance/lease agreements
• access, interpret and apply insurance policies
• complete finance/leasing and insurance documentation.

Guidance information for assessment 

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.

Methods 

Methods include:

• determining customer leasing/finance and/or insurance requirements and undertaking documentation procedures
• written, oral, fax or email

Information /documents 

Information/documents may include:

• enterprise operating procedures
• product manufacturer/component supplier specifications
• customer requirements
• industry/workplace codes of practice

Occupational health and safety  (OHS ) practices 

OHS practices must abode by:

• state/territory OHS legislation
• award provisions

Unit sector 

Common

Co-requisite units 

Competency field