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Qualification details

FNS41710 - Certificate IV in Insurance Broking (Release 3)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by FNS41715 - Certificate IV in Insurance BrokingUpdated to meet Standards for Training Packages. Significant changes to packaging rules. 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
3 (this release) 18/Jul/2013
(View details for release 2) 16/Jan/2012
(View details for release 1) 24/Nov/2010

Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnEssentialSort Table listing Units of Competency by the Essential column
BSBWOR401A - Establish effective workplace relationshipsEstablish effective workplace relationshipsN/A
FNSIBK402B - Provide personal advice in general insurance broking products and servicesProvide personal advice in general insurance broking products and servicesN/A
BSBCCO405A - Survey stakeholders to gather and record informationSurvey stakeholders to gather and record informationElective
FNSCUS401A - Participate in negotiationsParticipate in negotiationsN/A
FNSIBK403A - Implement an agreed insurance program for a broking clientImplement an agreed insurance program for a broking clientN/A
FNSINC301A - Work effectively in the financial services industryWork effectively in the financial services industryN/A
BSBRES401A - Analyse and present research informationAnalyse and present research informationN/A
FNSINC402A - Develop and maintain in-depth knowledge of products and services used by an organisation or sectorDevelop and maintain in-depth knowledge of products and services used by an organisation or sectorN/A
FNSASIC305A - Provide Tier 2 personal advice in general insuranceProvide Tier 2 personal advice in general insuranceN/A
FNSIBK405A - Meet industry and legislative guidelines and organisational procedures relating to insurance brokingMeet industry and legislative guidelines and organisational procedures relating to insurance brokingN/A
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 552312 Insurance Consultant 
ASCO (occupation type) Identifier 3212-19 Insurance Broker 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 
Qualification/Course Level of Education Identifier 511 Certificate IV 
Taxonomy - Industry Sector N/A Insurance 
Taxonomy - Occupation N/A Life Insurance Broking Officer 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 552312 Insurance Consultant 24/Nov/2010 
ASCO (occupation type) Identifier 3212-19 Insurance Broker 24/Nov/2010 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 24/Nov/2010 
Qualification/Course Level of Education Identifier 511 Certificate IV 24/Nov/2010 
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Modification History

Release 

Comments 

Release 3

This version released with FNS10 Financial Services Training Package version 5.0.

Update imported units:
BSBCCO402A Gather, collate and record information replaced by equivalent unit BSBCCO405A Survey stakeholders to gather and record information.

Correct error in unit FNSIBK401A title.

Advice relating to ASIC requirements removed from the qualification.

Qualification outcomes remain unchanged.

Release 2

This version first released with FNS10 Financial Services Training Package version 2.0.

Updated unit title.

Additional electives have been added:

  • FNSASIC301C Establish client relationship and analyse needs
  • FNSASIC302C Develop, present and negotiate client solutions

Release 1

This Qualification first released with FNS10 Financial Services Training Package version 1.0.

Description

This qualification is designed to reflect job roles in insurance broking in a range of environments including as a team member in a large organisation or a small brokerage practice.

Possible work functions may include:

  • assisting in managing the broking business on behalf of a client
  • identifying customer needs
  • preparing insurance program presentations
  • presenting risk options to clients
  • responding to customer enquiries for insurance broking products and services
  • assisting a broking client regarding an insurance claim
  • assisting in negotiation on behalf of clients
  • undertaking research and producing reports for broking submissions.

Pathways Information

Pathways into the qualification 

Preferred pathways for candidates entering this qualification include:

  • Certificate III in Insurance Broking

Pathways from the qualification 

The primary pathway from this qualification is employment in insurance broking service and support roles.

A further learning pathway utilising qualifications such as Diploma of Insurance Broking or one of the specialist qualifications would support career progression.

Licensing/Regulatory Information

Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. You should refer to the IBSA website (www.ibsa.org.au) or the relevant regulator for specific guidance on requirements.

Entry Requirements

Not applicable.

Employability Skills Summary

The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.

Employability Skill 

Industry/enterprise requirements for this qualification include: 

Communication

  • developing and writing reports to specifications questioning, listening and clarifying client's requirements using excellent customer service skills and maintain an ongoing relationship with clients
  • preparing and presenting correspondence in appropriate format
  • using effective communication techniques and having the ability to negotiate resolutions with clients and colleagues

Teamwork

  • building rapport and trust with clients and liaising and cooperating with a wide range of persons
  • liaising with clients and a range of other people internal and external to the organisation
  • referring matters to nominated person as required

Problem solving

  • collecting, comparing and contrasting data in order to create reports
  • comparing products and services in order to offer clients different options
  • identifying and resolving areas of client concern
  • using problem solving tools and techniques analysing and synthesising information

Initiative and enterprise

  • adapting to the special needs of customers
  • generating a range of options in response to a client's needs continually reviewing and applying emerging trends to product and service knowledge
  • responding to changed and changing situations

Planning and organising

  • gathering industry information through research processing documents and maintaining files, managing information and scheduling and coordinating competing tasks
  • implementing internal monitoring practice to ensure ongoing compliance
  • preparing insurance proposals for clients and insurers maintaining records

Self-management

  • applying time management strategies to own work schedule
  • asking for and responding to feedback on performance presenting a positive organisational image
  • defining and understanding own work role acting as a role model for others
  • planning own work schedule and monitoring and evaluating own work performance
  • working ethically and complying with all industry codes of practice and legislative requirements

Learning

  • developing and maintaining personal competency knowing and following workplace safety procedures using online help for self-learning purposes
  • identifying opportunities for professional development identified
  • keeping up-to-date with legislative and policy changes within the industry and applying these to work practices

Technology

  • conducting web searches and using corporate templates
  • operating computers
  • using business technology to access, organise and monitor information
  • using research data devices, telecommunication devices and related equipment
  • using word processing, spreadsheet and database entry skills to produce workplace documentation

Packaging Rules

12 units  must be achieved.

6 core units 

plus 6 elective units 

4 elective units  must be selected from the elective units listed  below that includes the recommended electives for those wishing to work in insurance broking support roles.

The remaining 2 elective units  may be selected from the elective units listed below, any endorsed Training Package or accredited course. These elective units may be selected from a Certificate IV qualification or Diploma qualification.

Elective units must be relevant to the work outcome, local industry requirements and the qualification level.

Core units of competency: 

  • FNSINC301A Work effectively in the financial services industry
  • FNSIBK401A Research and analyse client and industry information for a broking risk assessment
  • FNSIBK402B Provide personal advice in general insurance broking products and services
  • FNSIBK403A Implement an agreed insurance program for a broking client
  • FNSIBK404A Provide a claims service to an insurance broking client
  • FNSIBK405A Meet industry and legislative guidelines and organisational procedures relating to insurance broking

Elective units of competency 

  • FNSASIC301C Establish client relationship and analyse needs
  • FNSASIC302C Develop, present and negotiate client solutions
  • FNSASIC304A Provide Tier 2 general advice in general insurance
  • FNSASIC305A Provide Tier 2 personal advice in general insurance
  • FNSCUS401A Participate in negotiations
  • FNSCUS402A Resolve disputes
  • FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector
  • BSBCCO405A Survey stakeholders to gather and record information
  • BSBRES401A Analyse and present research information
  • BSBWOR401A Establish effective workplace relationships