Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with FNS Financial Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required to assess a client’s insurance prerequisites and accurately advise clients about financial products and services at the Australian Services and Investment Commission (ASIC) Tier 2 level.
It applies to individuals whose roles as non-broker insurance advisers require proficient communication and well-developed interpersonal skills to provide general advice in Tier 2 (standard retail general insurance) products to clients.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Unit Sector
ASIC units
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Deal with initial client enquiry for general insurance |
1.1 Attend to client enquiries in timely and courteous manner 1.2 Demonstrate active listening skills when dealing with client enquiries and provide help and assistance to ensure full and accurate completion of initial documentation where required 1.3 Communicate clearly and unambiguously with clients to determine and clarify product of interest to them 1.4 Analyse range of products of interest to clients to determine their categorisation as areas of general advice in line with legislation and organisational policy 1.5 Inform clients that general advice will be provided to them in relation to products of interest and that only personal information for underwriting and calculating cost of product will be sought 1.6 Refer clients to suitable specialist personnel where required advice is deemed to fall outside category of general advice |
2. Prepare general advice to client |
2.1 Provide correct disclosure documentation in accordance with legislation and organisational policy 2.2 Ensure that general advice warning is given to client in line with legislative and organisational policy 2.3 Consider special communication needs of clients or client when delivering general advice warning |
3. Provide general advice |
3.1 Ensure that product advice is given to client in clear and unambiguous way, avoiding jargon, in language appropriate to receiver and using organisational tools 3.2 Demonstrate appropriate product and industry knowledge when providing advice to client 3.3 Explain and discuss product advice with client in language that avoids giving impression adviser has considered client’s personal circumstances in providing advice 3.4 Ensure that client is asked to consider appropriateness of advice for own circumstances 3.5 Advise client to read product disclosure statement before making decision |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance
Skill |
Performance Criteria |
Description |
Reading |
1.4, 2.1 |
|
Writing |
1.2, 1.3, 2.2, 2.3, 3.1, 3.5 |
|
Oral Communication |
1.2, 1.3, 1.5, 2.2, 2.3, 3.1, 3.3-3.5 |
|
Numeracy |
1.4, 3.1-3.3 |
|
Navigate the world of work |
1.4, 1.6, 2.1, 2.2, 3.2, 3.5 |
|
Interact with others |
1.2, 2.3, 3.3 |
|
Get the work done |
1.1, 1.2, 1.4, 1.6, 2.1, 3.1 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNSASIC304 Provide Tier 2 general advice in general insurance |
FNSASIC 304A Provide Tier 2 general advice in general insurance |
Updated to meet Standards for Training Packages |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe