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. Research legal aspects of property law

1.1 Identify client's circumstances that require advice on property law matters

1.2 Research relevant property law and related legislation, regulation and practice

1.3 Identify different types of appropriate property transactions and clearly outline their legal context, establishment procedures and purpose

1.4 Identify relevant legal principles applying to property matters that are relevant to client circumstances

2. Analyse legal issues and risks associated with operation of a business

2.1 Identify areas of risk in application of law in property matters

2.2 Analyse how legal issues impact on different types of legal entities and business structures

2.3 Evaluate relevance to client circumstances and implication of risks for structure, operation and performance of different types of legal entities and business structures

3. Apply knowledge of property laws to client circumstances

3.1 Collect and collate client's available information for analysis

3.2 Interpret, analyse and process available information to obtain required knowledge applicable to client circumstances

3.3 Seek advice and guidance of specialist if required, to interpret, analyse and synthesise client and legal information

3.4 Provide advice to client based on client’s circumstances and relevant law

4. Maintain legal knowledge

4.1 Review client's circumstances and apply any changes in relevant aspects of property law

4.2 Review relevant legal sources regularly and apply any changes in daily work

4.3 Access and use systems for keeping up with changes and maintain up-to-date knowledge about relevant legal aspects of property law

Skill 

Performance  Criteria 

Description 

Learning

4.3

• Identifies, plans and implements strategies to manage gaps in personal knowledge

Reading

1.1-1.3, 2.1-2.3, 3.1, 3.3, 4.1

• Critically analyses complex documentation from a variety of sources and consolidates information relating to specific criteria to determine requirements

Writing

1.3, 2.3, 3.2-3.4, 4.1, 4.2

• Prepares documents that are constructed logically, succinctly and accurately to express ideas and explore complex issues
• Completes organisational documents and correspondence using clear language and correct spelling, grammar and terminology

Oral Communication

3.3, 3.4

• Participates in verbal exchanges using active listening and questioning techniques to elicit information from others and to confirm understanding

Navigate the world of work

1.1, 1.3, 1.4, 3.2, 3.4, 4.1

• Develops and implements strategies that ensure organisational policy, procedures and regulatory requirements are being met
• Monitors and reviews the organisation’s policy, procedures and adherence to legislative requirements to implement and manage change
• Ensures knowledge of legislation and regulations is accurate, comprehensive and current to provide advice to others as required by role

Interact with others

1.3, 3.3, 3.4

• Influences and fosters a collaborative culture, facilitating a sense of commitment and workplace cohesion
• Shares knowledge, information and experience openly as an integral part of the working relationship

Get the work done

1.1-1.4, 2.1-2.3, 3.1, 3.2, 4.2

• Develops plans to manage relatively complex routine and non-routine tasks, with an awareness of how they might contribute to broader strategy and goals
• Gathers and analyses data and seeks feedback to improve plans and processes
• Addresses complex problems involving multiple variables, using formal analytical and lateral thinking techniques, experience and knowledge to generate solutions
• Uses digital systems and technologies to enter, store or access information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSTPB505 Apply legal principles in property law

FNSTPB502A Apply legal principles in commercial and property law

Updated to meet Standards for Training Packages.

Title updated.

Wording changes and renumbering of performance criteria to clarify intent of unit.

Equivalent unit

Release 

Comments 

Release 1

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