FNS50315 Finance and Mortgage Broking: Assignment 3 & 4

This document contains the solutions for Assignment 3 and 4 of the FNS50315 Finance and Mortgage Broking course. Assignment 3 focuses on gathering client information, recording interactions, researching broking solutions, and managing risk in complex lending scenarios. Assignment 4 delves into financial analysis, trust and company structures, legal requirements, and risk management principles. The document provides detailed answers to each question, including examples, explanations, and relevant references.

FNS50315 Finance and Mortgage
Broking
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Contents
Assignment 3.........................................................................................................................................2
Assignment 4.........................................................................................................................................9
Question 1.........................................................................................................................................9
Part A.............................................................................................................................................9
Part B...........................................................................................................................................11
Part C...........................................................................................................................................12
Question 2.......................................................................................................................................13
A. Trust........................................................................................................................................13
B. Company..................................................................................................................................15
Question 3.......................................................................................................................................17
Question 4...................................................................................................................................20
Question 5...................................................................................................................................21
Question 6...................................................................................................................................23
References...........................................................................................................................................24
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Assignment 3
Question 1: Describe how you gather the information required when establishing the
client’s complex lending requirements?
While determining the needs with regards to the lending requirements of the client, it is
important to clearly define the services to be provided to the client. In case of client seeking
the loan, the lending services will be required to be provided to the client including the
serviceability analysis, assistance in preparation and submission if loan documents and
assistance in procurement of loan. For this purpose face to face interview is conducted with
the clients in personal and questions are asked to them with regards to the lending
requirements and responses are noted. These questions include personal details, assets held
by client, liabilities and obligations due, sources and amount of income, investment and
insurance details, purpose of loan, utilisation of loan amount, etc. In case of cultural
differences with the client, the written interview form is given to the client to be filled in his
own language. The language used by the client in filling the form can be translated for
interpretation. However, the information provided by the client in any form is kept
confidential and secured so as to protect the integrity of the client under the professional
conduct.
In some cases the client faces emotive issues such as financial deficiency causing depression
or some dream project for the purpose of which loan is sought. In these cases if the loan
application is rejected, the client is seriously hurt. In case of emotionally sensitive client
assurance if loan approval is not given at the beginning and the client is helped with other
loan options for availing the loan amount. Also in these cases a rapport is established so that
the sensitive clients understand each other and communicate effectively. Throughput the
complete process of broking, regular contact with the client will be maintained so that the
client can be informed about the status of loan application and also the changes or
amendments of any required by the client can be enquired. The periodic discussions with the
client during the process will help in preventing the risks occurring due to changes in the
client requirements, legislation or any other causes.
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Question 2: Describe how to record and document your interaction with clients?
The information will be gathered by the clients by filing the information in the form. All the
information which will be gathered during the interview will be diarized and then evaluated
(Peya, 2018).
Image: Loan Form
Source: Peya, 2018
This is the template which will be used for gathering the information of the clients coming for
the interview in the initial stage (Peya, 2018). For gathering the information the face to face
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conversation will be done instead of the telephonic conversation and what all responses will
be gathered will be entered in the diary for preparing the loan agreement. The procedures that
will be followed are that first the form will be filled by the clients coming for the loan
approval and then all the information will be collected. The documents that will be gathered
before granting the loan to the clients are: the financial statements of the business, bank
statements, any current loan document, income tax returns, personal financial information,
business license and a business plan (Kiisel, 2015).
The information gathered will be recorded through the proper use of the technology through
which the data of all the clients will be at the one single place so that whenever required can
be tracked through the loan account number. The software that will be designed by the
organisation will be used to access the entire database at the proper place and the spread
sheets will be maintained of all clients. The proper loan structure will be followed and
presented to the clients according to the guidelines of the organisation. The systematic
procedure will be their which explains the exact instalments and the percentage rate at which
the loan will have to be repaid. All the documents presented for the loan will be reviewed
before granting the loan.
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Question 3: Describe how you research and consider complex broking solutions based
on the clients’ needs?
The complex or special feature of a client situation includes the liquidity of the firm that in
how much time the loan will be repaid back. This shows that the work environments and the
situations affect the performance. The other factors that include are international purchases,
products available to the advisor and the volatility of the expected growth and the income.
The analysis of the client’s situation may include various risks some of which are allocation
of the assets, economic risks arise due to the change in the economic factors and the market
risks which can be caused due to the change in the various factors such as the economic
cycle, fixed assets, property and the stock market.
The broker needs to refer the clients to the tier 1 in case when the client who has taken the
loan from the organisation has been unable to pay back the amount taken against the
collateral. In this scenario the client will be taken to the financial advisor or the accountant
who will guide the client according to the company’s at and guidelines. The loan structures
are analysed and measured by the financial position of the client that actually the current
status of the customer who is seeking for loan is going on. The inappropriate options are
rejected on the basis of the creditworthiness that is possessed by the client seeking for the
loan. The options are analysed and checked to ensure the noncompliance through the various
acts some of which includes legislation acts, ethical guidelines that has to be followed and the
regulatory for evaluating the ability of the customer to achieve objective of the client.
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Question 4: Describe and provide evidence of how you identify and manage the risk
when dealing with clients with complex loan requirements?
There are many risks which occur while dealing with the clients in the scenario. The risk has
to be identified and maintained while dealing with the clients Risk assessment is the way
through which the risk can be identified and assessed. The first step is to identify the area of
the risk then the analysis of the risk has to be done after evaluation. After all these steps the
measures has to decide by the mangers of the company for taking the appropriate decisions.
There are various tools which are used for assessing the risk one of which is the valuation
practices. This is the practice through which the value of the underlying security can be
analysed. The issues on the valuation of the underlying stock can be evaluated by these tools
which are used for the valuation practices. Assessment is the risk to provide the probability of
the risk events that impacts the risk. The clear scenario should be provided to the clients
against the risk involved while assessing the risk. The stakeholders should provide the exact
criteria for the assessment of the risk in the written form which should also include all the
information related to the investments instalments and the need through which that risk can
be controlled. The aspects which are to be taken into the consideration so that the government
and industry requirements can be coded are that the business structure should be carefully
followed and the leasing premises and the intellectual property should be entitled using the
various trademarks and the patents.
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Question 5: Provide an example of how you present the loan options to the client,
including an explanation of why you chose that option.
The loan option chosen have both the advantages as well as the disadvantages. The
advantages includes that the loan is provided at the less interest rates as compared with that of
the other companies with the same process (Business Queensland, 2018). The best way to
compare the loan from the other organisation is that the key factors should be considered
which includes the interest rates, tenure of the loan and the processing fees of the loan. The
disadvantage is that the long duration period which is opted by the clients seeking the high
amount of loan gets impacted. The fees charges which paid by the lender to the brokers are
also included while the calculation of the loan amount. The client will be explained about the
various relevant legislations and the regulatory guidelines and also all the policies of the
lender related to the loan. The research and the consultation which is provide to the clients is
should be taken the effectiveness into the consideration while doing the research (Business
Queensland, 2018). The proper quantitative methods should be used while doing the research
about the various plans and calculating the profitability of the plan. Consultations should be
taken from the accountants, lawyers and the financial planners so that the proper plan can be
set by the organisation which will be of benefit for both organisation as well as the clients.
Once all the evaluation has been done and the documents has been analysed then the
appropriate option should be presented to the client for the approval and then the concern are
addressed to the clients. The information related to the compliance is also provided to the
clients so that the clients are aware of all the activities that need not to be performed while the
loan process is going on (Business Queensland, 2018). The procedures should include both
internal as well as the external factors which will be added to the compliance.
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Question 6: Prior to presenting the loan options to the client did you identify any
concerns that the client may raise? What preparations were completed to respond to
these concerns?
The identification of the concerns should be done before presenting it to the client so that the
client cannot raise the issue once the proposal has been presented. Proper research should be
done for all the plans and then the most appropriate one should be considered. The materials
or the documents which are required for taking the loan should be pre-determined and
presented to the clients. The documents should include the proof that shows the credit
worthiness of the agent that is taking the loan (Yardney, 2016). The alternative
recommendations should be pre-determined by the lender that if the client does not fulfils all
the criteria so the alternative option can be given so as to attract the clients. The brochure
should be prepared by the organisation defining the regulatory acts and the guidelines for the
financers who will be financing the organisation should also be defined by the lender so that
the trust of the clients can be maintained. During the complex situations the lender should
appoint the specialist who can handle all the conflicts related to the financial issues so that the
conflicts can be decreased. The organisation should be able to identify the concerns of the
clients easily and the appropriate actions should be taken to avoid it. The process should be
clearly defined about gaining the agreement so that the proceedings can be done of the clients
(Yardney, 2016). So, the proper identification and the loan option are very much required by
the lender so that the client cannot raise the issues in the near future. The preparation of the
responses should be diarized so that the concerns can be taken into considerations and the
action can be taken accordingly. The recommendations should be designed according to the
responses and the feedbacks of the clients against the feedback provided. This whole process
brings the transparency and the accountability in the loan process of the organisation
(Yardney, 2016).
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Assignment 4
Question 1
Part A
Ratio 2014 2015 Risk Grade
1. Current
Ratio
32,582/32,128 =
1.01
35,197/32,129 =
1.09
The risk is medium. The current
assets of the company are equal to the
current liabilities which means that
the current assets are not sufficient
with regards to liabilities and
therefore there is a risk of liquidation
(Saleem & Rehman, 2011).
2. Quick Ratio
(Acid Test)
(32,582 –
5,596)/32,128 =
0.84
(35,197 –
5,876)/32,129 =
0.91
The risk is medium. The quick Ratio
of the company is low indicating
liquidity risk but this ratio has
increased in current year and is likely
to increase.
3. Return on
Equity (ROE)
32,778/45,796 =
0.72
35,825/51,448 =
0.70
The risk is low. The return on equity
capital of the company is high and
therefore there is no risk of uncertain
returns.
4. Return on
Assets (ROA)
32,778/ 100,180
= 0.33
35825/94871 =
0.38
Risk is low. The company is earning
good returns on its assets which show
that the business is likely to earn
more profits. Also the return
increased in current year.
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5. Debt to
Equity Ratio
22,256/45,796 =
0.49
11,295/51,448
=0.22
Low risk. The debt of the company is
low as compared to equity which
means that there is no debt risk. Also
the ratio deceased in current year.
6. Debt to
Assets Ratio
22,256/100.180
= 0.22
11,295/94,871 =
.0.12
Low risk. The debt of the company as
compared to its assets is not high
indicating less debt obligations for
the company. Also the ratio
decreased.
7. Leverage
Ratio
46,650/(46,650 –
4,372) = 1.10
47,710/ (47,710
– 3,735) = 1.08
The risk is medium. The leverage
position of company is not risky since
the EBIT is sufficient to meet the
interest costs.
8. Interest
Cover ratio
(ICR) –
Existing Debt
46,650/4,372 =
10.67
47,710/3,735
=12.77
Medium risk. The interest coverage
ratio of the company increased in the
current year which means that the
ability of company to pay interest
obligations improved.
9. Debt
Servicing
Cover Ratio
(DSCR) –
Existing debt
32,778/4,372 =
7.50
35,825/3,735 =
9.59
The risk is high since the rate on
which debt obligation is payable by
the company is high and also has
increased in the current year.
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Part B
30 June 2014 30 June 2015
Values in $000 Values in $000
Net Profit Before Tax 32.778 35.825
Potential Add-Backs
Interest 4.372 3.735
Depreciation and Amortisation 9.500 8.150
Directors Salaries / Superannuation
Other non‐cash items
Extraordinary / Non-recurring expenses (may be
Plus or Minus)
Earnings Before Interest, Taxation, Depreciation,
and Amortisation (EBITDA)
46.650 47.710
Taxation allowance ** 13.995 14.313
Available for Debt Service 32.655 33.397
Interest Cover Ratio 10.67 times 12.77 times
Proposed Deductible Interest Costs:
Existing $ k @ % * 3.735
Plus Proposed $ 55 k @ 9 %* 4.95
Total Proposed Interest Costs 8.685
Proposed Interest Cover (Note 6)
(EBITDA divided by Proposed Interest Cost)
5.49
Debt Service Cover Ratio 4.12
Existing O/D or Credit Card assumed fully drawn at
prevailing interest rate interest only*
25,000
Existing Loan Repayments 12.696
Proposed Loan Repayments 13.598
Total Commitment Proposed 26.294
DSCR (Note 7) (Available for Debt Service divided by
Total Commitment Proposed)
1.27
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Part C
The serviceability analysis OF Wholesale Butchers Pty Ltd conducted for the year on the
basis of financial information of the company states that the company has high profitability
potential but there is low liquidity and also the leverage position is not strong. For the
purpose of serviceability analysis, the ratios have been calculated for the period of two years
in relation to liquidity ratios, return on assets and equity and capital, leverage ratios etc. The
liquidity ratios of the company indicate that the current assets of the company are at margin
to pay off the current liabilities and thus the company does not have surplus liquid assets. The
profitability ratios indicate that the company is earning high returns on its equity capital
invested 9in the business and high returns on the total assets. This shows that the business has
the potential to utilise its assets in an appropriate manner to generate profits. The leverage
ratios of the company indicate that the interest payment on the existing debt is high. However
the EBIT is sufficient with regards to the interest cost (Minton, et.al, 2014).
From the serviceability analysis with regards to the proposed debt of the company, it can be
observed that the interest coverage ratio and debt service coverage ratio of the company after
the financial position of the company supports the additional debt by the company (Nan &
Bin, 2012). Therefore on the basis of serviceability analysis of the company it is
recommended that the company is able to avail the proposed debt without increasing the debt
risk.
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Question 2
A. Trust
Trust Meaning Obligation of
Trustee
Example
Unit Trust This is the type of trust in
which the income from
different class of people
is pooled into one fund
and the amount is
invested to generate
returns. These returns are
distributed to the
investors termed as unit
holders.
The trustee is
obliged to manage
the investment pool
effectively to ensure
returns to investors.
The mutual funds are the
unit trusts which collect
amount from people and
invest the pool into
securities, mortgage or
others sources for
earning returns.
Discretionary
Trust
The trust in which the
trustee determines the
beneficiaries and the
amount invested by them
is not fixed is known as
the discretionary trust.
The trustee is
responsible to
determine the
beneficiaries and
distribute the trust
income among them
(Harding, 2012).
This type of trust is
formed to hold the
ownership of the assets
which have entitlements
to a group of people.
Hybrid Trust In this type of trust the
beneficiaries of the trust
remain fixed and pre
decided but their rights
and entitlement in the
trust income and
properties is not fixed.
The obligation of the
trustee is to
distribute he income
and properties
among the
beneficiaries
assigning their
The example of this trust
is the partnership firms
in which partners are the
beneficiaries of the trust
but their rights in the
properties and income of
trust is not defined
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entitlements.
Discretionary
Family trust
The trust which is formed
by the members of a
family in order to
safeguard and protect the
properties and assets of
the family and inherited
estate is known as
discretionary family trust
Dukeminier & Sitkoff,
2014).
The trustee is
responsible to divide
the trust assets and
estate among the
beneficiaries who
are the family
members as per the
will of the trust
These type of trusts
generally include the
family trusts in which
the income of trust is
distributed among
family members or the
jointly owned properties
are held by the family
members under the trust
Trustee A trustee is defined as the
person who is in the
authorisation and control
of a trust and has defined
obligations with regards
to the trust income and
property.
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B. Company
Legal requirements of a company
A company which is established r is conducting a business in Australia is required to get
registered under the provisions of Corporation Act 2001. The details about the name and
registered office of the company are required to be included in the registration documents of
the company. Apart from this, the companies are also legally required to comply with all the
legal provisions and statues which are applicable on such company after registrations such as
Corporation Act 2001, Income Tax Assessment Act 1936, Securities law etc.
Present obligations of director under law
As per the Corporation Act 2001, the directors are personally liable for the acts den by them
on behalf of company only in case when the act was performed without due diligence and
professionalism. The negligence incurred by the director of the company in performing the
actions for the company, creates the obligation for the directors with regards to the
consequences of such action on the company (Hanrahan, et.al, 2013). While performing the
actions or entering into contracts or agreements on behalf of company, the directors are
supposed to act in accordance with the professional code of conduct. However the directors
are not personally liable for any activity undertaken by them in good faith. Apart from this,
the directors involving in the illegal activities such as insider trading are also personally liable
for their duties and actions resulting in adverse consequences for the company.
Eligibility for becoming director of a company
Any person cannot become the director of company since there are certain requirements
which need to be fulfilled. A person shall have completed 18 years of age for being the
director. Apart from this the person who intends to be the director shall not be convicted of an
offence and should be of sound mind. Any insolvent person is also not eligible for becoming
the director of a company.
Minimum number of directors
In accordance with the provisions of Corporation Act 2001, in case of a public company the
minimum number of required directors are 3, directors and among them 2 must be
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independent directors whereas in case of private companies the required minimum number of
directors is 1 but such one director shall be an independent director of company.
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Question 3
Question Answer
Balance Sheet The Balance sheet is defined as the part of financial statements of a
business which represents the financial status and financial position of
the business. It contains the details of assets held by the business,
liabilities and obligations due against the business and the capital
invested in the business to generate returns.
Profit and loss
statement
It is the statement which is the part of financial statements of an
organisation and is used to present the financial performance of the
business over the period. It contains the details of incomes and
expenses incurred for the business and the net profit of the business
calculated by deducting all the expenses from the total income.
Depreciation It is the amount in relation to the fixed assets of business which
represents the degradation in the value of such assets. The decline in
value is due to wear and tear, obsolescence, or any other factor. The
depreciation is charged as expense from the profit.
Liquidity ratio The ratio of current or liquid assets of the company to the short term
liabilities of the company which represents the liquidity position of the
business is known as the liquidity ratio. It is used to estimate the
potential of the business to meet out its debt obligations (Saleem &
Rehman, 2011).
Current Ratio The ratio of current assets of business to the current liabilities of
business is known as the current ratio. It is used to determine the
potential of current assets to be converted into liquid funds for the
payment of liabilities.
Debt to Equity The ratio of total long term debt of the business to total equity capital
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Ratio if the business is known as debt to equity ratio. This ratio is used to
determine the effectiveness of the capital structure of the company in
order to ensure that the finance cost of the business is minimum.
Cash flow
statement
It is the statement which forms part of the financial statements of the
business and is used to present the inflow and outflow of cash funds to
and from the business in order to materialise the business transactions.
Asset An asset is defined as the physical or intangible resource which is
utilised by the business for generating the revenues and conducting the
business activities and functions in an effective and smooth manner.
The asset can be fixed asset or volatile assets and can be held by the
business for long term or short term depending upon the nature of the
asset.
Liability A liability is defined as the short term or long term business obligation
which has incurred out of the business transactions and is due for
payment.
Determination of
net profit
Net profit of the business is determined by deducting all the
operational, administration, selling and other expenses from the total
revenue and other incomes of the business. The interest expenses,
taxation expenses and appropriations and charges are also deducted
from the earnings in order to arrive at the net profit of the business.
Definition of
Equity
Equity is defined as the common stock of a company or the amount of
capital held by the owners of the business. The equity capital has no
fixed cost but the owners or shareholders are required to pay dividend
in proportion to their holding.
Allowable expense
under Australian
Under Australian taxation conditions there are various types of
expenses which are allowable as deduction from the income. These
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taxation expenses include the following:
1. Vehicle and travel expenses
2. Gifts and donations
3. Clothing laundry and dry cleaning expenses
20

Question 4
Commercial Bank Bill
The bill referred to as the negotiable instrument written by the business organisation or a
company and accepted for payment by the bank directly is known as the commercial bank
bill. This type of bill is used for the advance payment of invoices by bank for the business
invoices. The time period of payment and the amount of payment is mentioned on the bill. It
can be long term bill or short-term bill.
Invoice and financing factor
In the form of business transaction, the invoices of the business are paid by the factor or any
financial agency rather than the bank. The invoices are submitted to the factor who collects
the amount from the customers later as and when due but such factor makes the advance
payment of such bills to the business after deducting his fees or commission on the invoices.
Chattel Mortgage
It is the kind of loan which is procured from the bank against the movable property as the
security for the loan. When the loan is transferred by the lender to the borrower, the property
ownership is transferred to the lender and after the repayment of the complete loan amount by
the borrower; the borrower can take hold of his property (Zhang & Luo, 2012). However the
lender in this case does not hold lien on the property used as mortgage.
Asset Finance Product
It is the form of loan arrangement in which the purchaser acquires the asset from the lender
and the payment for the asset is being made on periodical basis along with the interest
amount. The borrower is not required to pay he lump sum amount for purchasing the asset.
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Question 5
Principle Outline of Principle
Gather best
available
information
This principle states that all the relevant and required information shall
be collected from all the possible and available sources so that the risk
can be prevented from occurring (Petty, et.al, 2015).
Explicitly address
uncertainty
The probable uncertainties and threats shall be identified and estimated
in advance in order to plan and implement the risk prevention
strategies and techniques so that the loss from the uncertainties is
minimised.
Facilitate continual
improvement of
organisation
The reasons for the issues and problems related to the organisation
shall be identified and the changes in relation to these problems shall
be implemented on regular basis so that continuous improvement of
the organisation can be done.
Take into account
human and cultural
factors
The human resources and cultural factors which influence the business
environment and organisational functions shall be taken into
consideration while dealing with the risks and uncertainties with
regards to the organisation.
Be transparent and
inclusive
The policies and procedures of the organisational functions and
objectives shall be transparent and also shall be inclusive so that the
probability of errors and frauds causing the risk of financial loss and
loss of reputation can be reduced.
Be dynamic
iterative and
responsive to
change
The business environment of an organisation is such that which is
highly dynamic and the changes take place regularly. Therefore, for
managing the probable risks of the organisation, it is quite necessary
for the organisation to be dynamic and responsive to change so that the
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changes can be implemented easily.
23

Question 6
Risks are the situations which arise as a result of the probable uncertainties and events or
internal and external business environment which creates loss for the business (Mason, 2014).
When the risks materialises, the business suffers from adversities and losses and therefore it
is very important for the business organisation to manage the risks in a systematic and
organised manner. The risk management is a process which involves sequence of activities
including identification of risk, assessment of risk and prevention of risk. The first stage of
identification of risk involves the categorisation of risk into various categories and groups s
that the assessment of risk can be performed in an appropriate manner.
The categorisation of risks on the bass of life cycle helps in determining the depth of the risk
and the level of maturity of the risk. The classification on the basis of cost structure helps the
business in identifying the probable financial loss likely to be incurred as the result of risk.
The segregation of the risk on the basis of social, political and economic factors and
competition level helps in determining the likely impact of risk on the future of the business
and organisation. In this way the categorisation of risk helps the business organisation in
overall analysis of the business.
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Petty, J.W., Titman, S., Keown, A.J., Martin, P., Martin, J.D. and Burrow, M.,
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