Assessment Requirements for FNSIAD301 Provide general advice on financial products and services

Release: 1

Assessment Requirements for FNSIAD301 Provide general advice on financial products and services

Modification History

Release	Comments
Release 1	This version first released with FNS Financial Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

create rapport with customers and analyse their needs to identify appropriate provision of advice

provide general advice to customers in compliance with relevant legislation and organisational policy and procedures.

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:

explain the difference between the provision of general advice and personal advice

describe key requirements of relevant legislation affecting the industry, particularly Australian Securities and Investments Commission (ASIC) policy statements relating to financial product advisory services

describe organisational policy and guidelines related to the provision of general advice

provide an overview of the characteristics of current products and services available in the industry that are NOT specified in accordance with ASIC regulations and do not require Tier 1 or 2 status

outline key features of relevant organisational documentation, including brochures and fact sheets

explain the role of different advisers within the organisation and industry.

Assessment Conditions

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

common office equipment, technology, software and consumables

financial services product information.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

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