Assessment Requirements for FNSIBK513 Prepare a submission for new business

Release: 2

Assessment Requirements for FNSIBK513 Prepare a submission for new business

Modification History

Release	Comments
Release 2	This version first released with FNS Financial Services Training Package Version 1.1. Release 2 created to correct mapping information
Release 1	This version first released with FNS Financial Services Training Package Version 1.0.

Performance Evidence

Evidence of the of the ability to:

maintain and apply knowledge of insurance products, practices, global markets and exposures to tailor specific advice to clients

undertake risk management data collection and analysis to ensure clients are provided with the appropriate choice of products suitable to their requirements

comply with organisational requirements to prepare and deliver client conceptual and quotation submissions.

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:

research and analyse information relating to the insurance industry and economic and taxation factors impacting on insurance markets or products that is used to set the context for a business submission

explain the evaluation undertaken of a range of insurance products and broking services

explain organisational policy, procedures and standards in the preparation of business submissions

provide an example of the application of the principles of insurance buyer behaviour and marketing to the preparation and presentation of business submission to new and renewing clients

explain the impact of industry compliance requirements and regulatory guidelines in marketing broking services within the context of a business submission

illustrate the application of risk analysis procedures on the development of recommendations.

Assessment Conditions

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

common office equipment, technology, software and consumables

organisational records

organisational policy and procedures.

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