Unit of competency details

FNSFMB403A - Present broking options to client (Release 1)


Usage recommendation:
Supersedes and is equivalent to FNSFBRK403B - Present broking options to clientUpdated content plus new unit format and coding change 23/Nov/2010
Is superseded by and equivalent to FNSFMB403 - Present broking options to clientUpdated to meet Standards for Training Packages Minor edits to clarify intent of performance criteria 24/Mar/2015

ReleaseRelease date
1 1 (this release) 24/Nov/2010


SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  24/Nov/2010 
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Modification History

Not applicable.

Unit Descriptor

Unit descriptor 

This unit describes the performance outcomes, skills and knowledge required to collect information, conduct relevant research and develop and present broking options to a client.

This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.

Application of the Unit

Application of the unit 

This unit applies to job roles in the finance and mortgage broking industries.

Licensing/Regulatory Information

Not applicable.


Prerequisite units 

Employability Skills Information

Employability skills 

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

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.

Elements and Performance Criteria



1. Gather relevant information

1.1. Lender products, services and features are reviewed and additional industry information  researched, where necessary, for lender products and services that are relevant, could impact or provide additional benefits to clients

1.2. Clients needs are acknowledged and compared to most appropriate lender product and service

2. Prepare appropriate options

2.1. Relevant lender information, product information, and support material are gathered and developedin a clear and concise format  for the client

2.2. All information is organised clearly and concisely in a manner appropriate to the client's needs and level of understanding

3. Present options to client

3.1. Recommended product and its features  is explained to client in a clear and unambiguous way with the impact of recommendations clearly and comprehensively discussed with the client including strengths, weaknesses, benefits and risks

3.2. Fees , charges and commissions  are clearly explained to client

3.3. Strategic and commercial relationship  of the representative and their organisation to recommended products is communicated to the client

4. Negotiate effectively

4.1. Client concerns , if any, are identified and responded to appropriately and alternatives to recommendations presented when requested

4.2. Client is encouraged to make informed choices using the relevant information and documentation presented

5. Obtain agreement to proceed

5.1. Agreement to proceed is obtained from client once concerns and issues are worked through and implementation actions  discussed, clarified and agreed between client and broker

5.2. Client records are created or updated appropriately and in a clear and concise format in anticipation for preparation of the loan application

Required Skills and Knowledge


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

Required skills 

  • well-developed communication skills to:
  • determine and confirm client requirements, using questioning and active listening as required
  • build rapport with the client and clearly explain recommended product features, advantages and disadvantages
  • liaise with others, share information, listen and understand
  • use language and concepts appropriate to cultural differences
  • customer service skills such as:
  • providing appropriate contact with client throughout the broking procedure
  • presenting information in a variety of formats to ensure understanding
  • appropriate timing of events in the broking process
  • research and analysis for accessing, interpreting and managing complex information and analysing client needs and product features
  • numeracy and IT skills to:
  • access and use appropriate software to determine loan terms, interest rates, payments and other relevant information plus spreadsheets and databases
  • calculate client debt and risk quickly and accurately
  • access internet information
  • literacy skills to:
  • read and interpret organisational and industry information
  • prepare client records and related documentation
  • organisational skills, including the ability to plan and sequence work

Required knowledge 

  • basic accounting and mathematical techniques to calculate:
  • interest rates
  • mortgage payments
  • other relevant terms of a loan
  • government grants such as:
  • First Home Buyer assistance packages
  • special assistance for disadvantaged or low income earners
  • others that are current and relevant at the time of client interest
  • negotiation techniques
  • presentation techniques including technology supported
  • products and services provided by the organisation's appropriate lenders
  • relevant fees, charges and commissions

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 

Evidence of the ability to:

  • identify relevant information based on industry and product knowledge and match it to client needs
  • present information to clients effectively
  • negotiate effectively and gain commitment from a client.

Context of and specific resources for assessment 

Assessment must ensure:

  • competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
  • access to and the use of a range of common office equipment, technology, software and consumables
  • access to lending product information
  • access to relevant software system and data.

Method of assessment 

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

  • evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
  • observing processes and procedures in workplaces or role plays
  • verbal or written questioning on underpinning knowledge and skills
  • setting and reviewing workplace projects and business simulations or scenarios
  • evaluating samples of work
  • accessing and validating third party reports.

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.

Additional industry information  may include:

  • financial reports and brochures
  • internet research
  • new company information about products, services and special features
  • statistics from respected magazines and consumer reports.

A format  for presenting information may include:

  • a presentation prepared in advance:
  • in document format
  • presentation software
  • overheads
  • other presentation methods
  • a written report or proposal
  • verbal information presented directly to the client.

Products and product features  may include:

  • additional payment features
  • fixed or variable rates features
  • investment property products
  • partial interest offset features
  • rate lock features
  • redraw features
  • residential mortgage products

for finance brokers specifically:

  • chattel products
  • commercial mortgage products.

Fees , charges and commissions  may include:

  • commissions from lenders
  • commissions paid to franchisees
  • down payments
  • interest payments
  • loan establishment fees
  • loan value fees
  • taxes and payments to secure a property
  • stamp duty
  • trailing commissions.

Strategic and commercial relationships  may include:

  • exclusivity of relationships with certain banks or lenders if products are those of the organisation.

Client concerns  may include:

  • possible accrued debt
  • price/interest resistance
  • resistance to company or broker
  • risk
  • timing issues
  • uncertainty about the product.

Implementation actions  may include:

  • collecting relevant information for loan processing
  • collecting support documentation for loan processing
  • obtaining signatures from relevant persons and officials.
  • producing accounting information
  • updating bank and finance information.

Unit Sector(s)

Unit sector 

Finance/mortgage broking

Competency field

Competency field 

Co-requisite units

Co-requisite units