FNS40815 Certificate IV in Finance and Mortgage Broking - Doc

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FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING –
ASSESSMENT TASKS
© Copyright 2004-2017 The National Finance
Institute
V.01051
7
EXERCISE 4
To be completed by the Trainee
You must include this page with your Exercise 4
submission
Alternatively you can retype the details as a front page to your
Exercise
Trainee name
Trainee Postal Address
Trainee Daytime Phone numbers
Trainee Email address
I state that this Exercise contains no material which has been written by another person. I
make this statement with the understanding that my assessment may be compromised if found to
be otherwise.
Signed Date
Submissions can be mailed to NFI, P.O. Box 1354, Capalaba B.C. Qld 4157 OR
Email to [e-mail] (if emailing you must adhere to the emailing
size rules)
OFFICE USE ONLY BELOW HERE
Date received by NFI Date received by Assessor
Name of Assessor
Date assessed
Competent 
Not Yet Competent

Mark
As sessor ’ s Comments: .................................................................................................
...................................................................................................................................
...................................................................................................................................
...................................................................................................................................
Further action required (if applicable)

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FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING –
ASSESSMENT TASKS
© Copyright 2004-2017 The National Finance
Institute
V.01051
7
EXERCISE 4
TAS
K
Total marks possible 50
Please answer the questions below. You can either write or type your answers into a separate
document. Please name your document file with “Your Name” and “Exercise
4” .
You must provide an answer to each question.
In some cases we will give you a reference to the unit in which you will find the information you
require. In some cases you may need to rely on your understanding from what you have learned
from the content, or undertake a search on the internet.
The questions will also be used to assess your language and literacy skills. The assessor
will check all your exercises and assignments to ensure
- that they are accurate with correct grammar and punctuation
- that they are appropriate to the target audience.
- that they show planning and organisational skills.
- that they demonstrate your ability to search for products and service information and use
problem solving approaches to identify customer needs and expectations.
QUESTIONS
1. List at least 5 points that are important to ensure communication delivers on
customer needs, expectations and priorities. (5 marks)
 Active listening
 Do not interrupt
 Use words easy to understand, not industry jargons
 Use professional texting texts
 Demonstrate courtesy
2. It is important that staff should deliver an outstanding customer experience at all times. What
are the specific behavioral competencies that this requires and how would this be measured?
(5 marks)
 Use of positive statements
 Being swift and accurate
 Respectful
 Follow-ups
 Humbly Accept mistakes
These competencies can be measured by performance appraisals
3. Using information provided in Unit 2, it is important that an organization
continually improves. How might an organization collect information to facilitate this?
(3 marks)

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FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING –
ASSESSMENT TASKS
© Copyright 2004-2017 The National Finance
Institute
V.01051
7
 Fromm the contact details
 Transaction history
 Any feedbacks from customers during communication
 Customer profile; age, gender, sex, profession, etc
4. There are many laws that regulate the way businesses may provide service to a client.
Why is this important and what is your responsibility? (3 marks)
 Business regulation is important for it obligates people and the business to avoid
penalization, offers standard guidance in business transactions, protects the rights and
obligations of both employees and companies. My responsibility as an employee is to
carry out my responsibilities within the confinement of the rules and regulations
5. Write a guide regarding customer service that you would use, as a mortgage broker,
to look after a customer. Your guide should be a minimum of 3 typed pages and must
include the following points: (5 marks).
Identify and clarify customer needs and expectations
In dealing with customers as a mortgage broker, one has to take into much consideration on the
expectations and requirements of the customer. The needs and customer expectations will define the
type of mortgage that best fits the client. This will make them feel part of the deal when relating with
the broker. The customer needs, and expectations can be obtained by asking specific questions such as
family size, income level, any existing loans, etc. Additionally, questionnaires can be used in cases
where customers are not free to engage in interviews. This entails knowing who are your customers and
identify what they require or expect from your service. Customers need to feel necessary, required and
very special. Thus the broker should listen attentively and afterward try to paraphrase what he/she
understood to confirm that the needs and expectations of the customer have been appreciated. All their
requests should be taken into consideration, and the broker has to ensure that all the required desires are
adequately addressed and advised accordingly. This will make the customer freer to take the deal and
the confidence with the broker and thus to improve the marketing skills of your work.
Assess the urgency of the request
Looking into the cust om e r ’ s request, the first thing to have into consideration is the
urgency. This is important because always mortgages should be sorted and dealt with as per their
urgency. After
identifying the most urgent, look for the required details, assess the problem and address the specific

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FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING –
ASSESSMENT TASKS
© Copyright 2004-2017 The National Finance
Institute
V.01051
7
requirements. Even if the request is considered with minimum urgency, it should be discussed critically
to avoid making costly mistakes. This is also important because it will also help determine the
mortgage rates. It should be noted that the earlier the most urgent request is addressed, the more reliable
the broker company will become and also the services will be lucrative to most clients
Determine priorities for service delivery
After assessing the urgency of the need, the broker should prioritize the various requests and evaluate
the impact of each decision. The broker will have to consider multiple factors such as loyal customers
should be given the first opportunity compared to first-time customers, the type of bank the customer
prefers; different banks take different times to service loans, the legal issues surrounding the mortgage.
These factors will help the broker to approximate the time it will take for service delivery and then
compare with the available time.
Inform the customer of possible choices
After analyzing the needs and expectations of the customer, the urgency, and prioritization of
the services to be offered, the broker should notify the customer of the options available. This should,
however, be done with an understanding and with the aim of enabling the customer to choose from the
available options but still meet their needs and expectations. Furthermore, the broker should explain
the details of each choice so that the customer can make an informed decision. Various communication
skills are needed here by the broker to win the confidence of the customer and to make them feel. The
option of choosing also causes the client to honor the choice or the process.
Assist in the selection of the preferred option
After presenting the present opportunities to the customer, the broker should assist in the selection
process. This is because most customers are laypersons in the sector and therefore do not know the
benefits of each option. Thus as a professional, the broker should provide necessary details for each
option and advise the customer based on the information gathered so that the choice can suit the needs