Modification History
Not applicable.
Description
This qualification is designed to reflect team leadership or supervisory roles in life insurance in a range of organisations and may meet Australian Securities and Investments Commission (ASIC) requirements for Tier 1 personal advice.
Pathways Information
Qualification Pathway
Preferred pathways for candidates entering this qualification include:
- FNS41510 Certificate IV in Life Insurance
The primary pathway from this qualification is employment in life insurance in areas such as:
- managing distribution
- managing underwriting
- providing advice.
Possible work functions may include:
- assessing risk
- determining and managing resources for distribution plan
- developing plans to take products and services to the market
- providing advice in accordance with ASIC regulations.
An Australian Apprenticeship pathway may be possible for this qualification depending on the State or Territory training authority declaration policy.
A further learning pathway could be study in relevant higher education programs. Learners should establish relevant qualifications and any credit arrangements that may apply in order to make appropriate elective choices in this qualification.
Licensing/Regulatory Information
Not applicable.
Entry Requirements
Not applicable.
Employability Skills Summary
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EMPLOYABILITY SKILLS QUALIFICATION SUMMARY |
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Employability Skill |
Industry /enterprise requirements for this qualification include : |
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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
Packaging Rules
12 units must be achieved.
3 core units
plus 9 elective units
- selecting the identified elective unit/s * could meet ASIC accreditation requirements for providing financial product advice - conditions relating to ASIC accreditation should be obtained from ASIC
- elective units may be selected from Group A, B or C
- A maximum of 2 elective units may be selected from units aligned to Diploma qualifications in any endorsed Training Package or from relevant units in similarly aligned accredited courses
- One (1) elective unit may be selected from units aligned to Certificate IV qualifications in any endorsed Training Package or from relevant units in similarly aligned accredited courses.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.
Core units of competency :
- BSBOHS404B Contribute to the implementation of strategies to control OHS risk
- FNSINC401A Apply principles of professional practice to work in the financial services industry
- FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector
Elective units of competency :
Group A (ASIC Tier 1 )
- FNSCUS506A Record and implement client instructions*
- FNSINC501A Conduct product research to support recommendations*
- FNSASICM503A Provide Tier 1 personal advice in life insurance*
- FNSASICP503A Provide Tier 1 general advice in life insurance*
Group B (Manage distribution - recommended )
- FNSILD501A Prepare a distribution plan
- FNSILD502A Resource a distribution plan
- FNSILD503A Establish services to provide advice
- FNSILD504A Implement and manage the distribution plan
Group C (Manage underwriting - recommended )
- FNSILF401A Contribute to the life risk underwriting process
- FNSILF501A Assess extraordinary risks
Note : Certain elective units may be required to progress to membership of relevant professional organisations. Learners should establish such requirements where they apply in order to make appropriate choices.
