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. Identify risk

1.1 Identify product type to ensure that nature of risk can be assessed and handled accordingly

2. Evaluate proposal against risk assessment criteria

2.1 Assess proposal against risk assessment criteria to clearly identify risk factors

2.2 Identify need for additional information to further evaluate proposal

3. Obtain further information

3.1 Identify appropriate sources of further information to enable comprehensive evaluation of proposal

3.2 Safeguard privacy of parties involved in providing information by complying with legislative and compliance requirements

3.3 Obtain all further information within specified timeframes to satisfy outstanding risk assessment criteria

3.4 Provide ongoing advice to concerned parties on status of assessment of proposal

4. Determine and advise terms and conditions of risk acceptability

4.1 Assess acceptability of risk against all available information and in accordance with appropriate underwriting guidelines

4.2 Within delegated authority, establish terms and conditions that minimise risk liability

4.3 Promptly advise all relevant parties on acceptance or rejection of proposal

Skill 

Performance Criteria 

Description 

Reading

1.1, 2.1, 2.2, 4.1

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

Writing

3.3, 3.4, 4.2, 4.3

• Produces texts of varying complexity using appropriate language, grammar and logical sequence to convey information accurately and effectively

Oral Communication

2.2, 3.3, 3.4, 4.3

• Uses active listening and questioning techniques to confirm understanding of requirements
• Provides information using clear language and register appropriate to the audience

Numeracy

2.1, 2.2, 3.1, 3.3, 4.1

• Uses mathematical problem-solving techniques to check data and financial information against criteria, plan timelines and sequence work

Navigate the world of work

3.2, 4.2

• Recognises and follows explicit and implicit protocols, policies and procedures, and meets expectations associated with own role

Interact with others

3.1, 4.3

• Selects and uses appropriate communication conventions and protocols to liaise with others
• Adjusts personal communication style in response to the values, beliefs and cultural expectations of others

Get the work done

1.1, 2.1, 2.2, 3.1, 3.3, 3.4, 4.1, 4.3

• Takes responsibility for planning, sequencing and prioritising tasks and own workload for efficiency and effective outcomes
• Makes routine decisions based on implementation of standard procedures
• 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 

FNSILF401 Contribute to the life risk underwriting process

FNSILF401A Contribute to the life risk underwriting process

Updated to meet Standards for Training Packages.

Minor edits to clarify intent of performance criteria.

Equivalent unit

Release 

Comments 

Release 1

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