FNSFMB403 Broking Options Assessment 3

F NS40 8 1 5 C e r t ifi c a t e IV in F IN AN CE & M O R T G A GE B R O K IN G
FNSFMB403 Present broking options to client
Assessment 3

What does the term ‘not unsuitable’ mean in the context of a financial product or service?
Ac t iv it y 1 Answ e r
It is necessary as per the NCCP act that the mortgage broker and lender should provide borrower with
such financial products or services that is not unsuitable. A financial product or service is deemed to be
not unsuitable if it satisfies the consumer's objectives and requirements, customer has the ability to
repay the loan amount so obtained without facing any kind of hardships.