Unit of competency details

FNSSAM401 - Sell financial products and services (Release 1)


Usage recommendation:
Supersedes and is equivalent to FNSSAM401A - Sell financial products and servicesUpdated to meet Standards for Training Packages 24/Mar/2015
Is superseded by FNSSAM411 - Sell financial products and services 01/Feb/2021

ReleaseRelease date
1 1 (this release) 25/Mar/2015


SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  30/Jul/2015 
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Unit Of competency

Modification History



Release 1

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


This unit describes the skills and knowledge required to present a sales solution and close a sale in response to a client enquiry.

Within their level of authority, individuals apply specialised knowledge and make judgements and recommendations based on detailed analysis of information.

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

Sales and marketing

Elements and Performance Criteria



Elements describe the essential outcomes.

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

1. Identify nature of enquiry

1.1 Establish rapport with client and determine reason for enquiry to allow suitable response

1.2 Determine needs of client by questioning

1.3 Check to see whether enquiry is within personal authorities or should be referred to appropriate personnel

2. Determine suitability of client for financial product or service

2.1 Identify products and/or services that might satisfy client needs

2.2 Obtain all information required to determine eligibility of client for product or service, with predetermined risk assessment criteria applied in accordance with product or service requirements

2.3 Prepare business proposal in compliance with legislation, regulations and codes of practice and personal authorities, and refer to appropriate personnel for further action if business proposal is outside defined guidelines

3. Provide client with information about product or service

3.1 Present business proposal to client and supply all product information

3.2 Discuss client queries, clarify proposal and make follow-up arrangements if required

4. Confirm sale and process documentation

4.1 Confirm suitability of product and price with client and obtain agreement to proceed with sale

4.2 Issue documentation in accordance with organisational policy and procedures

4.3 Process payment details without delay and update record systems promptly and accurately

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.


Performance Criteria 



1.3, 2.1, 2.2

  • Analyses a range of textual information from a variety of sources to identify key details and risks, and to make judgements and recommendations


1.1, 2.2, 2.3, 3.2, 4.1, 4.2, 4.3

  • Develops material in correct format for a specific audience using clear and detailed language to convey accurate and customised information
  • Records outcomes of communications using specific language, grammar and punctuation to correctly and effectively convey recommendations

Oral Communication

1.1, 1.2, 1.3, 2.2, 2.3, 3.1, 3.2, 4.1

  • Participates confidently in verbal exchanges and clearly explains detailed information using language, tone and pace appropriate to the audience and situation
  • Uses active listening and questioning techniques to elicit the views and opinions of others and to confirm understanding


1.2, 2.1, 2.2, 2.3, 3.1, 3.2, 4.3

  • Uses a limited range of mathematical calculations to perform comparisons of financial information and determine costs

Navigate the world of work

1.3, 2.3, 4.2

  • Recognises the main tasks, responsibilities and boundaries of own role and where necessary refers relevant matters to appropriate personnel
  • Identifies and adheres to legal and regulatory rights and responsibilities in undertaking tasks
  • Identifies and follows the explicit and implicit organisational protocols to meet expectations applicable to own role

Interact with others

1.1, 1.2, 2.1, 2.2, 3.1, 3.2, 4.1

  • Selects and applies appropriate communication practices and protocols, adjusting personal communication style in response to the values, beliefs and cultural expectations of others
  • Uses strategies to build rapport, demonstrate empathy and build effective working relationships

Get the work done

2.1-2.3, 3.1, 4.2, 4.3

  • Plans a range of relatively complex and routine tasks and achieves stated goals
  • Systematically gathers and analyses all relevant information and evaluates options to address issues or make product or service recommendations
  • Understands the functions, features and uses of digital systems and uses these to input, access, filter, extract data and present information in a suitable format

Unit Mapping Information

Code and title 

current version 

Code and title 

previous version 


Equivalence status 

FNSSAM401 Sell financial products and services

FNSSAM401A Sell financial products and services

Updated to meet Standards for Training Packages

Equivalent unit


Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe


Assessment requirements

Modification History



Release 1

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

Performance Evidence

Evidence of the ability to:

  • interact with clients, collect the necessary information and match client needs to company products or services
  • sell products and services, including matching client requirements to company products and services
  • finalise and record the sale, completing relevant documentation as required.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • identify the basic structure and operation of the financial services industry
  • identify the key features of services and products within the financial services industry
  • describe the key features of company policy and procedures for interacting with clients and solving problems
  • describe the key requirements of relevant legislation and regulations impacting on the financial services industry in relation to selling products and services
  • compare and contrast selling techniques
  • describe the key features of the range of products and services available from an organisation including terms, interest rates, special packages and other conditions.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the sales and marketing field of work and include access to:

  • financial services product information
  • a relevant software system and data
  • organisational policy and procedures
  • common office equipment, technology, software and consumables.

Assessors must satisfy NVR/AQTF assessor requirements.


Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe