Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Receive applications

1.1 Receive new life insurance applications and compile necessary documentation

1.2 Check that documentation is correct and complete in accordance with organisational procedures and regulatory requirements

1.3 Gather further information from appropriate information sources as necessary

1.4 Enter application data in appropriate systems and verify data input accuracy

2. Process applications

2.1 Establish delegation authority in accordance with organisational procedures and refer application to appropriate authority as necessary

2.2 Consult with internal stakeholders about processing issues or concerns, as appropriate

2.3 Process application, once information is verified, in accordance with organisational procedures and regulatory requirements

2.4 Communicate result to all relevant parties in accordance with procedures and regulatory requirements

2.5 Update records and file documentation in accordance with procedures and regulatory requirements

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 2.1

• Gathers, analyses and interprets simple to complex information from a range of sources and identifies relevant information

Writing

1.3, 1.4, 2.1, 2.4, 2.5

• Records key information relevant to requirements using appropriate text and format, and correct spelling

Oral Communication

1.3, 2.1, 2.2, 2.4

• Uses appropriate language, terminology and concepts when participating in verbal exchanges
• Uses active listening and questioning techniques to clarify information and confirm understanding of requirements

Navigate the world of work

2.1, 2.3, 2.4, 2.5

• Follows legislative requirements and organisational policy and procedures relevant to own role

Interact with others

1.3, 2.1, 2.2

• Follows accepted communication practices and protocols, adjusting personal communication style in response to the values, beliefs and cultural expectations of others

Get the work done

1.1, 1.2, 1.4, 2.1, 2.3

• Plans, organises and implements routine tasks, aiming to achieve them efficiently
• Responds to predictable routine problems and implements standard or logical solutions
• Uses the main features and functions of digital tools to complete work tasks

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSILF302 Process a life insurance application

FNSILF302A Process a life insurance application

Updated to meet Standards for Training Packages.

Minor rewording of performance criteria to clarify intent.

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.