Assessment Requirements for FNSIAD311 Provide general advice on financial products and services

Release: 1

Assessment Requirements for FNSIAD311 Provide general advice on financial products and services

Modification History

Release	Comments
Release 1	This version first released with the FNS Financial Services Training Package Version 8.0. Supersedes and is equivalent to FNSIAD301 Provide general advice on financial products and services.

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

provide general advice regarding at least two different financial products and two different services to at least two different customers.

In the course of the above, the candidate must:

identify appropriate level of advice to be provided according to organisational policies and procedures and regulatory and legislative requirements.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

differences between the provision of factual information, general advice, and personal advice

requirements of relevant legislation affecting the industry, particularly Australian Securities and Investments Commission (ASIC) regulatory guidance relating to financial product advisory services

organisational policies and procedures related to the provision of general advice

overview of the characteristics of current products and services available in the industry for providing general advice on relevant and non-relevant financial products and services

key features of organisational documentation relevant to the provision of general advice, including brochures and fact sheets

roles of different advisers in the organisation and industry.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

common office equipment, technology, software and consumables

customers requiring general advice on financial products or services

financial services product information.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe