Modification History
Release |
Comments |
Release 2 |
This Qualification first released with FNS10 Financial Services Training Package version 2.0. Updated unit title Additional electives have been added:
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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.
For current advice on ASIC compliance under RG146 refer to the advice bulletin on the IBSA website or contact ASIC.
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
Preferred pathways for candidates entering this qualification include:
- Certificate III in Insurance Broking
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
Not applicable.
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 |
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Teamwork |
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Problem solving |
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Initiative and enterprise |
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Planning and organising |
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Self-management |
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Learning |
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Technology |
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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 an insurance 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
BSBCCO402A Gather, collate and record information
BSBRES401A Analyse and present research information
BSBWOR401A Establish effective workplace relationships
Requirements for ASIC RG146 compliance are:
To achieve Tier 2 competence in General Insurance, participants must provide evidence for assessment of these units of competence with specific reference to the Specialist Knowledge for General Insurance in the Evidence Guide.
- FNSASIC301C Establish client relationship and analyse needs
- FNSASIC302C Develop, present and negotiate client solutions
or (from the Insurance general/life group of units)
- FNSASIC305A Provide Tier 2 personal advice in general insurance.
In order to achieve Tier 2 General Advice in General Insurance, participants must provide evidence for assessment of this unit of competence with specific reference to the Specialist Knowledge for General Insurance in the Evidence Guide.
- FNSASIC304A Provide Tier 2 general advice in general insurance.