Assessment Requirements for FNSISV411 Evaluate insurance risk for business

Release: 1

Assessment Requirements for FNSISV411 Evaluate insurance risk for business

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:

evaluate risk for insurance business, including either:

evaluating risk for at least one new and at least one renewing general insurance business, or

evaluating risk for at least two new Private Health Insurance business.

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:

legislative and regulatory requirements and industry sector codes of practice relating to risk evaluation

organisational policies and procedures, and underwriting guidelines relating to risk evaluation

application of required common law, legal systems and procedures relating to:

insurance contracts

competition and consumer practices

key features of insurance policies

insurance risk and relative industry hazards associated with organisational products

procedures and requirements to conduct and review surveys and reports

risk prevention methods and application

techniques to analyse financial data and evaluate risk.

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:

organisational records

organisational policies and procedures, legislation and regulations relating to new and renewal business

technology and software required to evaluate insurance risk.

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