Assessment Requirements for FNSINC412 Apply and maintain knowledge of financial products and services

Release: 1

Assessment Requirements for FNSINC412 Apply and maintain knowledge of financial products and services

Modification History

Release	Comments
Release 1	This version first released with FNS Financial Services Training Package Version 6.0.

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:

apply and maintain knowledge of at least six different financial products and services.

In the course of the above, the candidate must:

respond to client enquiries regarding products and services.

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:

organisational policies and procedures related to documentation and reporting requirements and ethical, legal and regulatory conditions in promoting financial products and services to clients

compliance reporting requirements, including breaches, anti-money laundering and other issues related to financial products and services

industry codes of conduct that relate to the provision of financial products and services, including complaint and dispute processes

financial products and services used by organisations and in the sector, including their:

purpose

strengths

weaknesses

terms and conditions

fees and charges

compliance and regulatory requirements

methods to respond to client enquiries regarding products and services according to organisational procedures

organisational promotional strategies for selling financial products and services

systems that can be used to obtain current information on financial products and services.

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:

office equipment, technology, software and consumables

financial products and services information

clients.

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