FNSFMB503 Present Broking Options to Client with Complex Needs Assessment Guide

This assessment guide provides information for students on the assessment process for FNSFMB503 Present Broking Options to Client with Complex Needs. It includes details on the different assessment methods, how to achieve a satisfactory result, and how to format assessments. The guide also explains complex features of a client situation and needs, such as commercial loans, chattel leases, native title rights, heritage issues, and contaminated sites or properties near noxious industries.

FNSFMB503 PRESENT BROKING OPTIONS TO
CLIENT WITH COMPLEX NEEDS
ASSESSMENT GUIDE

ASSESSMENT INFORMATION FOR STUDENTS
Throughout your training we are committed to your learning by providing a training and
assessment framework that ensures the knowledge gained through training is translated into
practical on the job improvements.
You are going to be assessed for:
 Your skills and knowledge using written and observation activities that apply to the
workplace.
 Your ability to apply your learning.
 Your ability to recognise common principles and actively use these on the job.
All of your assessment and training is provided as a positive learning tool. Your assessor will
guide your learning and provide feedback on your responses to the assessment materials until
you have been deemed competent in this unit.
HOW YOU WILL BE ASSESSED
The process we follow is known as competency-based assessment. This means that evidence of
your current skills and knowledge will be measured against national standards of best practice,
not against the learning you have undertaken either recently or in the past. Some of the
assessment will be concerned with how you apply your skills and knowledge in the workplace,
and some in the training room as required by each unit.
The assessment tasks have been designed to enable you to demonstrate the required skills and
knowledge and produce the critical evidence to successfully demonstrate competency at the
required standard.
Your assessor will ensure that you are ready for assessment and will explain the assessment
process. Your assessment tasks will outline the evidence to be collected and how it will be
collected, for example; a written activity, case study, or demonstration and observation.
The assessor will also have determined if you have any special needs to be considered during
assessment. Changes can be made to the way assessment is undertaken to account for special
needs and this is called making Reasonable Adjustment.
What happens if your result is ‘Not Yet Competent’ for one or more assessment tasks?
Our assessment process is designed to answer the question “has the desired learning outcome
been achieved yet?” If the answer is “Not yet”, then we work with you to see how we can get
there.
In the case that one or more of your assessments has been marked ‘NYC’, your trainer will
provide you with the necessary feedback and guidance, in order for you to resubmit your
responses.
What if you disagree on the assessment outcome?
You can appeal against a decision made in regards to your assessment. An appeal should only
be made if you have been assessed as ‘Not Yet Competent’ against a specific unit and you feel
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you have sufficient grounds to believe that you are entitled to be assessed as competent. You
must be able to adequately demonstrate that you have the skills and experience to be able to
meet the requirements of units you are appealing the assessment of.
Your trainer will outline the appeals process, which is available to the student. You can request
a form to make an appeal and submit it to your trainer, the course coordinator, or the
administration officer. The RTO will examine the appeal and you will be advised of the outcome
within 14 days. Any additional information you wish to provide may be attached to the appeal
form.
What if I believe I am already competent before training?
If you believe you already have the knowledge and skills to be able to demonstrate competence
in this unit, speak with your trainer, as you may be able to apply for Recognition of Prior
Learning (RPL).
Assessor Responsibilities
Assessors need to be aware of their responsibilities and carry them out appropriately. To do
this they need to:
 Ensure that participants are assessed fairly based on the outcome of the language,
literacy and numeracy review completed at enrolment.
 Ensure that all documentation is signed by the student, trainer, workplace
supervisor and assessor when units and certificates are complete, to ensure that
there is no follow-up required from an administration perspective.
 Ensure that their own qualifications are current.
 When required, request the manager or supervisor to determine that the student is
‘satisfactorily’ demonstrating the requirements for each unit. ‘Satisfactorily’ means
consistently meeting the standard expected from an experienced operator.
 When required, ensure supervisors and students sign off on third party assessment
forms or third party report.
 Follow the recommendations from moderation and validation meetings.
How should I format my assessments?
Your assessments should be typed in a 11 or 12 size font for ease of reading. You must include a
footer on each page with the student name, unit code and date. Your assessment needs to be
submitted as a hardcopy or electronic copy as requested by your trainer.
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How long should my answers be?
The length of your answers will be guided by the description in each assessment, for example:
Type of Answer Answer Guidelines
Short Answer 4 typed lines = 50 words, or
5 lines of handwritten text
Long Answer
8 typed lines = 100 words, or
10 lines of handwritten text = 1
3of a foolscap page
Brief Report
500 words = 1 page typed report, or
50 lines of handwritten text = 1 1
2foolscap handwritten pages
Mid Report 1,000 words = 2 page typed report
100 lines of handwritten text = 3 foolscap handwritten pages
Long Report 2,000 words = 4 page typed report
200 lines of handwritten text = 6 foolscap handwritten pages
How should I reference the sources of information I use in my assessments?
Include a reference list at the end of your work on a separate page. You should reference the
sources you have used in your assessments in the Harvard Style. For example:
Website Name – Page or Document Name, Retrieved insert the date. Webpage link.
For a book: Author surname, author initial Year of publication, Title of book, Publisher, City,
State
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ASSESSMENT GUIDE
The following table shows you how to achieve a satisfactory result against the criteria for each
type of assessment task. The following is a list of general assessment methods that can be used
in assessing a unit of competency. Check your assessment tasks to identify the ones used in this
unit of competency.
Assessment Method Satisfactory Result Non-Satisfactory Result
You will receive an overall result of Competent or Not Yet Competent for the unit. The assessment process
is made up of a number of assessment methods. You are required to achieve a satisfactory result in each of
these to be deemed competent overall. Your assessment may include the following assessment types.
Questions
All questions answered correctly Incorrect answers for one or
more questions
Answers address the question in full;
referring to appropriate sources from
your workbook and/or workplace
Answers do not address the
question in full. Does not refer
to appropriate or correct
sources.
Third Party Report
Supervisor or manager observes work
performance and confirms that you
consistently meet the standards
expected from an experienced
operator
Could not demonstrate
consistency. Could not
demonstrate the ability to
achieve the required standard
Written Activity
The assessor will mark the activity
against the detailed
guidelines/instructions
Does not follow
guidelines/instructions
Attachments if requested are attached Requested supplementary
items are not attached
All requirements of the written
activity are addressed/covered.
Response does not address the
requirements in full; is missing
a response for one or more
areas.
Responses must refer to appropriate
sources from your workbook and/or
workplace
One or more of the
requirements are answered
incorrectly.
Does not refer to or utilise
appropriate or correct sources
of information
Observation/
Demonstration
All elements, criteria, knowledge and
performance evidence and critical
aspects of evidence, are demonstrated
at the appropriate AQF level
Could not demonstrate
elements, criteria, knowledge
and performance evidence
and/or critical aspects of
evidence, at the appropriate
AQF level
Case Study
All comprehension questions
answered correctly; demonstrating an
application of knowledge of the topic
case study.
Lack of demonstrated
comprehension of the
underpinning knowledge
(remove) required to complete
the case study questions
correctly. One or more
questions are answered
incorrectly.
Answers address the question in full;
referring to appropriate sources from
Answers do not address the
question in full; do not refer to
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Assessment Method Satisfactory Result Non-Satisfactory Result
You will receive an overall result of Competent or Not Yet Competent for the unit. The assessment process
is made up of a number of assessment methods. You are required to achieve a satisfactory result in each of
these to be deemed competent overall. Your assessment may include the following assessment types.
your workbook and/or workplace appropriate sources.
Practical Activity
All tasks in the practical activity must
be competed and evidence of
completion must be provided to your
trainer/assessor.
All tasks have been completed
accurately and evidence provided for
each stated task.
Tasks have not been completed
effectively and evidence of
completion has not been
provided.
Attachments if requested are attached Requested supplementary
items are not attached
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Assessment Cover Sheet
Student’s name: USI
Assessors Name: Date
Submitted:
The following questions are to be completed by the assessor:
Is the Student ready for assessment? Yes No
Has the assessment process been explained? Yes No
Does the Student understand which evidence is to be collected
and how? Yes No
Have the Student’s rights and the appeal system been fully
explained? Yes No
Have you discussed any special needs to be considered during
assessment? Yes No
The following documents must be completed and attached:
 Written Activity and Checklist
The student will complete the written activity provided to them
by the assessor. The Written Activity Checklist will be
completed by the assessor.
S NYS
 Third Party Report
The student will demonstrate a range of skills and the assessor
will observe where appropriate to the unit. The Observation
Checklist will be completed by the assessor.
S NYS
 Research task and Written/Oral Questions
The student will answer a range of questions either verbally or
written. The Questioning Checklist will be completed by the
assessor.
S NYS
Student Declaration
I agree to undertake assessment in the knowledge that information gathered will only be used
for professional development purposes and can only be accessed by the RTO
I declare that:
 The material I have submitted is my own work;
 I have kept a copy of all relevant notes and reference material that I used in the production
of my work;
 I have given references for all sources of information that are not my own, including the
words, ideas and images of others.
Student
Signature: Date:
ASSESSMENT COVER SHEET
Result and Feedback
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Feedback to Student:
Overall Outcome Competent Not yet Competent
Assessor
Signature: Date:
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WRITTEN ACTIVITY
1. Risk Issues.
In a pamphlet that would be suitable to provide to clients, explain the risk issues that relate to
each of the following:
a. Borrowing risk and gearing.
b. Specific product risk.
c. Institutional risk.
d. Risk factors and return expectations of the client.
e. Volatility of income and capital.
This task must be completed within 45 minutes.
Boring risk and during risk is a fundamental problematic condition for the investor as they
borrow money to invest in different organizations, which in turn raises the level of concern
investors. This type of measure can only be possible if the investor has high income to support
the overall borrowing risk or else there is relevantly higher risk of borrowing and during for the
investor
The economics risk relatively indicates the downfall of the overall financial market which will
impact investment capability of the investors and reduced their invested capital.
All the products relatively carry a degree of risk which needs to be evaluated by the investors
and identify whether these risk are suited to the investment requirements.
The risk regarding the institution relatively increases when the institutional performance are
incorrect. This directly indicates the formulation and interpretation of wrong information in the
annual report and the financial progress generated by the institution.
The major risk factor and return Expectations of the client are interrelated, where the client
wanting higher returns wood relatively opt for more risky Assets and vice versa
Volatility of income and capital needs to be clearly mentioned it to be clearly mentioned it to the
investor where the concept of volatility indicator higher risk involved in investment.
2. Complex Features of a Client Situation and Needs.
Explain each of the following complex features of a client situation and needs:
a. Commercial loans.
b. Chattel leases.
c. Native title rights.
d. Heritage issues.
e. Contaminated sites or properties near noxious industries.
This task must be completed within 45 minutes.
Commercial loans are relatively considered an arrangement that is conducted between the
business and the financial institution. Moreover the cattle lease is considered a guaranteed of
the loan that is provided by the broker award which company. The native title rights Have
certain effects on the financial service industry where both the paying and receiving native title
benefits from the endeavour. Furthermore, the Heritage issue relatively allows you broker firm
to evaluate any kind of hesitate to the issues associated with the finance. Lastly, the broker
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relatively needs to identify whether the land is contaminated on which the overall loan will be
taken.
3. Key Products Available In the Broking Industry.
Identify and categorise at least 4 of the key products that are available in the broking industry.
This task must be completed within 30 minutes.
The broking industry relatively has three distinct products such as Direct investments, Insurance
products and Loan products, which can be used by the investors to increase their current
operational conditions. These identified products has a relatively allowed the broking industry
to effectively improve their operations and fulfil the needs of the customers. Moreover, the
broking industry relatively has different types of financial instruments that are used by the
organizations such as loan provisions that can be used by the customers in the discretion.
4. Legislation, Regulations and Codes of Practice.
Identify and discuss the various legislative requirements, regulations and codes of practice that
affect the broking industry.
This task must be completed within 20 minutes.
Consumer affairs act, Consumer Credit (Victoria) Act 1995, Credit Act 1984 ,Credit
(Administration) Act 1984, Australian Consumer Law, National Consumer Credit Protection Act
2009, Consumer credit code, Contract law, Corporations act, Code of Banking Practice, General
Insurance Code of Practice o Insurance Brokers Code of Practice o Customer Owned Banking
Code of Practice, Insurance act, Integrity checks, Insurance Contracts Act 1984 and Trade
Practices Act 1974 are relatively used in the financial broking company. The Companies Act also
used by the organization to effectively improve the level of operations. The above identified
codes of practice legislation and regulation would eventually allow the Broking Company to
effectively conduct their operations.
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WRITTEN ACTIVITY CHECKLIST
Written Activity Checklist
For this assessment, the student must complete the written activity.
The written activity is a stand-alone activity that will allow the student to display the required
knowledge and skills that are essential when deciding overall competency.
Student’s name:
Assessor’s name:
Has the student satisfactorily
completed the written activity?
Yes No
Did the Student provide evidence of their ability to in a pamphlet that would be suitable
to provide to clients, explain the risk issues that relate to each of the following:
 Borrowing risk and gearing.  
 Specific product risk.  
 Institutional risk.  
 Risk factors and return expectations of the client.  
 Volatility of income and capital.  
Did the Student provide evidence of their ability to explain each of the following
complex features of a client situation and needs:
 Commercial loans.  
 Chattel leases.  
 Native title rights.  
 Heritage issues.  
 Contaminated sites or properties near noxious industries.  
Did the Student provide evidence of their ability to:
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Identify and categorise at least 4 of the key products that are
available in the broking industry.  
Identify and discuss the various legislative requirements,
regulations and codes of practice that affect the broking industry.  
Feedback to Student:
Result  Satisfactory  Not Yet Satisfactory
Assessor’s Signature: Date:
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THIRD PARTY REPORT
Supervisor Instructions:
For this assessment, the student must complete the activity.
The practical activity is a stand-alone activity that will allow the student to display the required
knowledge and skills that are essential when deciding overall competency. Please sign and date
this checklist to evidence the student having completed the task.
Student Instructions:
Arrange a time to complete the activity and have your supervisor observe you undertaking the
activity. You should submit the completed and signed checklist with your assessment for this
unit of competency.
The following task must be demonstrated in conditions that are safe and replicate the
workplace. Noise levels, production flow, interruptions and time variances must be typical of
those experienced in the tax (financial) advice services field of work and include access to:
 Office equipment, technology, software and consumables
 Relevant legislation, regulations and codes of practice
 Specialist software and data.
For this task you are to complete the following steps to present broking options to at least 1
client with complex needs.
To prepare for the task you will need to:
1. Ensure that the disclosure of capacity to the client is consistent with industry
requirements and organisational guidelines. Provide the disclosure of capacity to your
assessor.
The relevant disclosure Of capacity is relevantly consistent with the industry requirements
and Organisational guidelines, where the client relatively complies with the financial capacity
of the loan requirement
Throughout your client interactions, complete the following steps to develop a rapport:
2. Address the needs and objectives of the client in a manner that is consistent with the
client’s level of financial understanding, and which directly applies to the objectives and
requirements they have disclosed.
From the clients interactions it could be identified that the financial understanding of the
client is relatively adequate which indicates that the loan can be provided to the client under
the relevant disclosure. The client is also disclosed all the relevant assets, income and ongoing
loans which can help in detecting the financial level of the client.
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3. Demonstrate a high level communication skills, in all of your dealings with clients,
including with clients who have special needs.
Adequate high level of communication skills has been used in dealing with the clients
including the clients with special needs where all the relevant requirements disclosures and
loan conditions has been discussed with the client in details. This relatively helped in
understanding the loan requirements and current conditions of the client.
4. In both oral and written communication, when introducing services, strategies and
recommendations, ensure to use clear and unambiguous language that avoids jargon.
Adequate clear and unambiguous language has been used, while communicating with the
overall client, which has helped in avoiding jargon, while introducing services, strategies and
recommendations.
Perform the following steps to present the client with the broking options:
5. Guide the client through the available broking options, clearly and comprehensively
discussing with them the impact of each option on their financial circumstances,
including the advantages, disadvantages, risks and financial implications, and taking into
account various assumptions, possibilities and the client’s special needs. Provide a copy
of the broking options to your assessor.
The broking option relatively provides the loan product to clients who have sufficient
income to support the loan and generate higher returns over the period of time. The
relevant broking options can be used for assuming the possible needs of the client.
6. Clearly explain to the client the fees, charges and commissions.
Hardy code explanation has been conducted regarding the fees charges and commissions that
will be charged for the overall broking services. Nothing has been hidden and undisclosed by
the client, as it might directly reduce the level of Trust of the client.
7. Provide the client with copies of research and other documentation. Provide this
information to your assessor.
The relevant copies and Research and other documents of the client is a relatively provided
which comprises of their details and information regarding the financial condition.
8. Disclose to the client any commercial relationship of the representative, and their
organisation, to the products and services mentioned in the plan.
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There is specifically no commercial relationship between the organisation and the product and
service mentioned in the plan which might directly hamper the overall suggestion for the
client’s loan requirements.
9. Using your professional judgement, identify and any address issues that may require
further consideration or consultation with other financial services professionals. Discuss
these issues and what can be done about them with your assessor.
There is relatively no for the issues that might arise, which will require further consideration
or consultation with other Financial Service professionals. hence the overall judgement that
has been provided is adequate where if the client requires another professional help it they
could adequately secure different financial Advisors advice.
10. Obtain confirmation from the client that they understand the broking options they have
been presented with.
Adequate confirmation has been provided by the client, that they have understood the overall
broking options. This confirmation relatively allows the broker to acquire Relevant
permission from the client which could help them draught the overall further requirements.
Complete the following steps to negotiate effectively:
11. Obtain feedback from the client, identify any concerns and respond appropriately,
presenting alternatives to the recommendations when requested.
Adequate feedback from the client has been gathered which relatively identifies no concerns
regarding the overall presentation of the loan requirements. There is no specific alteration to
the recommendation that has been requested by the client hence the recommendation will
stand and allow the client to obtain the required loan for the equipment.
12. Interpret the legislative requirements, industry regulations and codes of practice to
ensure the identification and observance of the limits imposed by regulatory
requirements or organisational guidelines. Outline these with your assessor.
Certain legislative regulations are relatively implemented by the broking firm for
ensuring the mortgage risk requirements of the client. The code of conduct such as ,
Consumer credit code, Contract law, Corporations act, Code of Banking Practice, General
Insurance Code of Practice, Insurance Brokers Code of Practice, Customer Owned
Banking Code of Practice.
13. When dealing with complaints, ensure to maintain communication channels and follow
complaint handling procedures.
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Adequate procedure has been conducted with the help of communication channels that are
used for handling all the relevant camp complaints from the client. This handling of all the
relevant complaints is essential for the broking firm to ensure client satisfaction levels.
14. Obtain agreement to proceed from the client.
Adequate agreement from the client has been acquired for preceding the overall process of the
loan requirements. This agreement would eventually allow the broking firm to complete the
loan process and effectively provide the amount of the loan to the client.
Perform the following steps to complete and maintain the necessary documentation:
15. Record all of your client interaction in accordance with the industry requirements and
organisational guidelines. Provide a copy of your interactions for this assessment.
All the relevant client interactions a relatively provided in accordance with the industry
requirements and organisational guidelines, where the information regarding the current
financial position of the client and the current income is asked by the broking firm. The
relevant information regarding the overall loan requirements and the interest rates are also
communicated to the client which is a relatively in accordance with the industry requirements
and organisational guidance.
16. Provide confirmation, including relevant documentation and contract variation to
clients. Provide this documentation to your assessor.
The overall confirmation that is provided by the client to the broking firm relatively includes
all the documentation required for completing the overall loan requirements. In addition, the
contract variations that are needed by the client is also signed and provided to the overall
brokers. This relatively helps in smoothly conducting the loan process without any kind of
hindrance and problems.
17. Ensure that, where required, any required instructing or purchasing documents are
signed by the client.
There is required instruction for the purchasing documents that needs to be provided by the
client to the borrower regarding the overall new equipment. This purchasing document would
eventually help in ensuring that the loan money has been utilised according to the
requirements of the contract. The purchasing documents are digitally signed by the client who
will be transferred to the loan provider by the broker.
18. Clearly define and communicate to the client the post-broking service to be provided.
Outline the post-broking service provided to your client.
The post broking services are a relatively depicted to the client who will effectively utilise the
information to reduce any kind of problems in future regarding the loan contract. The major
post broking service that is provided or information regarding the installment and the
continued reminder of the overall payments that needs to be conducted every month.
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After you have successfully completed the above steps to present broking options to a client
with special needs, you will need to sit down with your assessor and discuss:
19. The key features of the legislation, regulations and codes of practice affecting the
broking industry.
Consumer affairs act, Consumer Credit (Victoria) Act 1995, Credit Act 1984 ,Credit
(Administration) Act 1984, Australian Consumer Law, National Consumer Credit
Protection Act 2009, Consumer credit code, Contract law, Corporations act, Code of
Banking Practice, General Insurance Code of Practice o Insurance Brokers Code of
Practice o Customer Owned Banking Code of Practice, Insurance act, Integrity checks,
Insurance Contracts Act 1984 and Trade Practices Act 1974 are relatively used in the
financial broking industry
20. Verbal and non-verbal communication used throughout the task.
There is specific verbal and nonverbal communication used to reach task which has been
adequately written to support the overall requirements.
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THIRD PARTY REPORT CHECKLIST
*Multiple copies of the checklist will need to be printed if the observation is to be observed more
than once.
Third Party Report Checklist
Supervisor Instructions:
For this assessment, the student must complete the activity.
The practical activity is a stand-alone activity that will allow the student to display the required
knowledge and skills that are essential when deciding overall competency. Please sign and date this
checklist to evidence the student having completed the task.
Student Instructions:
Arrange a time to complete the activity and have your supervisor observe you undertaking the activity.
You should submit the completed and signed checklist with your assessment for this
unit of competency.
The following task must be demonstrated in conditions that are safe and replicate the workplace. Noise
levels, production flow, interruptions and time variances must be typical of those experienced in the tax
(financial) advice services field of work and include access to:
 Office equipment, technology, software and consumables
 Relevant legislation, regulations and codes of practice
For this task you are to complete the following steps *The assessor needs to ensure that they take
detailed notes on the performance of the student in the comments section provided.
Student Name:
Assessor Name:
The student can demonstrate competency by:
Yes No How and where actions were
observed:
Ensure that the disclosure of capacity to
the client is consistent with industry
requirements and organisational
guidelines
Address the needs and objectives of the
client in a manner that is consistent with
the client’s level of financial
understanding, and which directly applies
to the objectives and requirements they
have disclosed.
Demonstrate a high level communication
skills, in all of your dealings with clients,
including with clients who have special
FNSFMB503 Present broking options to client with complex needs
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needs.
In both oral and written communication,
when introducing services, strategies and
recommendations, ensure to use clear and
unambiguous language that avoids jargon
Guide the client through the available
broking options, clearly and
comprehensively discussing with them
the impact of each option on their
financial circumstances, including the
advantages, disadvantages, risks and
financial implications, and taking into
account various assumptions, possibilities
and the client’s special needs.
Clearly explain to the client the fees,
charges and commissions.
Provide the client with copies of research
and other documentation.
Disclose to the client any commercial
relationship of the representative, and
their organisation, to the products and
services mentioned in the plan.
Using your professional judgement,
identify and any address issues that may
require further consideration or
consultation with other financial services
professionals.
Obtain confirmation from the client that
they understand the broking options they
have been presented with.
Obtain feedback from the client, identify
any concerns and respond appropriately,
presenting alternatives to the
recommendations when requested.
Interpret the legislative requirements,
industry regulations and codes of practice
to ensure the identification and
observance of the limits imposed by
regulatory requirements or organisational
guidelines.
When dealing with complaints, ensure to
maintain communication channels and
follow complaint handling procedures.
Obtain agreement to proceed from the
client.
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Record all of your client interaction in
accordance with the industry
requirements and organisational
guidelines.
Provide confirmation, including relevant
documentation and contract variation to
clients.
Ensure that, where required, any required
instructing or purchasing documents are
signed by the client.
Clearly define and communicate to the
client the post-broking service to be
provided.
The learner effectively discussed the following:
The key features of the legislation,
regulations and codes of practice affecting
the broking industry.
Verbal and non-verbal communication
used throughout the task.
Details of Students Performance:
Feedback Given to Student:
Result  Satisfactory  Not Yet Satisfactory
Supervisor Signature Date:
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
20

WRITTEN/ORAL QUESTIONS AND RESEARCH TASK
The following questions may be answered verbally with your assessor or you may write down
your answers. Please discuss this with your assessor before you commence. Short Answers are
required which is approximately 4 typed lines = 50 words, or 5 lines of handwritten text.
Your assessor will take down dot points as a minimum if you choose to answer them verbally.
Answer the following questions either verbally with your assessor or in writing.
To complete this task, you are to why client needs and objectives need to be aligned to their
levels of financial understanding, communication skills when working with clients in complex
situations, methods for communication, the importance of avoiding the use of exclusive
language and disclosure of the professional relationship . You will also need to complaints
handling procedures and considerations for working with special needs clients.
1. Why is it essential for you to address a client needs and objectives in a manner that
is consistent with their level of financial understanding?
It is relatively essential to address the client needs and objectives in a manner of financial
understanding to help them detect the level of expenses which will be in curd during the
overall contract. The loan requirements relatively need interest rates and monthly
instalment payments that need to be conducted by the client. This information needs to be
in financial term to allow the client understanding the overall objective of the loan
requirement.
2. How can you ensure that you address the needs and objectives of clients in a manner
which directly applies to objectives and requirements they have disclosed?
With the help of the transparency level the overall assurance can be conducted for
addressing all the needs and objectives of the client. the maintenance of adequate
transparency would eventually help in providing all the information that the client needs
for the loan requirements which can eventually help in reducing the chance of any
undisclosed information.
3. Briefly discuss how you can demonstrate high level verbal and non-verbal
communication skills throughout your interactions with clients, including for clients
with special needs.
There is specific verbal and nonverbal communication has been conducted for adequately
communicating the skills through the interactions to the client. The verbal
communications are relatively conducted on the basis of details and listed materials that is
provided by the broking firm. Moreover, the nonverbal communications are conducted
With the help of email and other communication device
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
21

4. What methods could you use to assist you in introducing services, strategies and
recommendations to clients?
The relevant methods that might exist in introducing the service Strategies and
recommendations to the climb are the verbal communication and written communication.
This method would eventually help in effectively providing all the relevant explanation
and documents to the client regarding the overall loan process. Hence the process will
eventually help in minimising the client’s questions and maximizing the level of
recommendations that can be provided during the interaction.
5. Why is it important to use language that is clear and unambiguous, and to avoid the
use of jargon when communicating with clients, in both oral and written
communication?
Adequate clear and unambiguous language has been used, while communicating with the
overall client, which has helped in avoiding jargon, while introducing services, strategies
and recommendations
6. What information should be included in the disclosure of capacity to ensure that it is
consistent with industry requirements and organisational guidelines?
The relevant disclosure Of capacity is relevantly consistent with the industry
requirements and Organizational guidelines, where the client relatively complies with the
financial capacity of the loan requirement
7. Briefly explain the important things to consider and discuss with clients, clearly and
comprehensively, as you guide them through the broking options.
The overall important things that need to be discussed with the client are the interest rates
and the tenure of the loan requirements that is mentioned in the loan documents. This
relevant documentation would eventually help in providing all the relevant broking
options to the client which will allow them to make adequate decisions regarding the loan
requirements.
8. What can you provide to a client to clearly explain the fees, charges and
commissions?
The relevant documentations can be provided to the client for clearly explaining the fees
charges and commissions that is needed by the broker firm. This relevant documentation
would eventually help In detecting the level of expenses which will be incurred by the
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
22

client for completing the loan process.
9. Why is it important to disclose the commercial relationship of the representative
and their organisation to any of the products and services mentioned in plan?
The relationship between the representative and the organisation needs to be disclosed for
allowing the Decline to understand the overall relationship between the broker and the
organisation. There it would eventually help in detecting that whether an article measures
has been used for contemplating the overall alone requirements.
10. What types of issues will you need to use your professional judgement to identify
and address?
The relevant issues such as lack and information transfer and other requirements of the
loan need to be communicated and provided to the client adequately by the broking firm.
This can only be conducted with the help of professional judgement for identifying and
addressing the overall issues.
11. How might you seek confirmation from the client that they understand broking
options presented?
Adequate confirmation has been adequately provided by the client regarding the
understanding of the broking options. This confirmation could overall relevantly help in
detecting that the client as effectively understood all the requirements of the loan
unapproved the broker to complete the loan process.
12. Outline the steps that you should follow to respond to identified client concerns
appropriately.
Relevant steps that should be followed is firstly the communication process, then
detection of the problem, and then identifying the client's concern regarding the
appropriate loan requirements. This process would eventually help in understanding the
Concerns of the client regarding different aspects of the loan process.
13. What will you need to do when clients request alternatives to your
recommendations?
When the client request alternatives to the recommendation than adequate adjustments to
the overall process needs to be conducted. This adjustment will relatively focus on the
client’s requirement and request while nullifying the recommendations that has been
present used previously. However ticket recommendation process needs to be presented
with adequate information and facts.
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
23

14. What are the limits you will need to observe when you are presenting clients with
broking options?
The relevant limits that need to be observed are the client’s current conditions and
financial position, which would relatively ensure that the client would select the
recommended option. the evaluation of the current condition would eventually allow the
broker to understand the limits of the client and help them provide adequate
recommendations for the loan requirements
15. Outline a basic complaint handling procedure that you could follow, maintaining
communication channels, when dealing with a customer complaint.
Adequate procedure has been conducted with the help of communication channels that
are used for handling all the relevant camp complaints from the client. This handling of
all the relevant complaints is essential for the broking firm to ensure client satisfaction
levels
16. How will you need to obtain agreement to proceed from clients?
The approval needs to be conducted by the client in writing for allowing the agreement to
proceed with the overall loan requirements. Without the approval in writing the overall
broking firm will not start the agreement procedure for the client.
17. What relevant documentation will you need to use to record your client interactions
and to provide conformation to clients?
The relevant documentation such as equipment papers, income receipt, and total assets
documents will be required from the client to effectively understand the current position
of the client.
18. Why do you need to ensure that instructing or purchasing documents, where
required, are signed by clients?
There is required instruction for the purchasing documents that needs to be provided by
the client to the borrower regarding the overall new equipment. This purchasing
document would eventually help in ensuring that the loan money has been utilized
according to the requirements of the contract. The purchasing documents are digitally
signed by the client who will be transferred to the loan provider by the broker.
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
24

19. What are the types of post-broking services you will need to clearly define and
communicate to your clients?
The post broking services are a relatively depicted to the client who will effectively
utilize the information to reduce any kind of problems in future regarding the loan
contract. The major post broking service that is provided or information regarding the
installment and the continued reminder of the overall payments that needs to be
conducted every month
20. Briefly discuss the organisational guidelines top follow when dealing with clients
who have the following special needs:
a. Visual or hearing impairment.
b. English as a second language.
c. Cultural differences.
The clients having the visual or hearing impairment relatively provided with a translator
and the supervisor who can ensure that all the relevant information has been
communicated to the client adequately.
The person having English as a second language can be provided with a translator who is
fluent in there regional language and can translate all the relevant documents regarding
the loan requirements.
The persons having cultural difference can effectively contact an adequate professional
and a translator who will be able to provide all the relevant information regarding the loan
requirements and allow them to make adequate decision.
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
25

WRITTEN/ORAL QUESTIONS AND RESEARCH TASK
CHECKLIST
Written/Oral Questions and Research Task Checklist
The assessor needs to indicate whether they have conducted the questioning as written questions or as
verbal questions by ticking the box below.
 Written Questioning  Verbal Questioning
The assessor must provide evidence with the assessment tool. For written questions, the assessor must
provide the student’s original written responses. For verbal questioning, the assessor must provide dot
points as a minimum on the student’s responses.
For details on how to conduct and contextualise this form of assessment, please refer to the questioning
checklist explanation in the assessor guide.
Student’s name:
Assessor’s name:
If questions are answered verbally, the assessor must write detailed answers in
the sections provided below. The space below does not indicate the size of the
answer anticipated. Keep typing and the space will expand. If answers are
recorded separate to this document, they must be attached to the assessment
documents.
Satisfactory
response
Yes No
1
Why is it essential for you to address a client needs and objectives in a
manner that is consistent with their level of financial understanding?  
2
How can you ensure that you address the needs and objectives of clients
in a manner which directly applies to objectives and requirements they
have disclosed?  
3
Briefly discuss how you can demonstrate high level verbal and non-verbal
communication skills throughout your interactions with clients, including
for clients with special needs.  
4
What methods could you use to assist you in introducing services,
strategies and recommendations to clients?  
5
Why is it important to use language that is clear and unambiguous, and to
avoid the use of jargon when communicating with clients, in both oral and
written communication?
 
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
26

6
What information should be included in the disclosure of capacity to
ensure that it is consistent with industry requirements and organisational
guidelines?  
7
Briefly explain the important things to consider and discuss with clients,
clearly and comprehensively, as you guide them through the broking
options.  
8
What can you provide to a client to clearly explain the fees, charges and
commissions?  
9
Why is it important to disclose the commercial relationship of the
representative and their organisation to any of the products and services
mentioned in plan?  
10
What types of issues will you need to use your professional judgement to
identify and address?  
11
How might you seek confirmation from the client that they understand
broking options presented?  
12
Outline the steps that you should follow to respond to identified client
concerns appropriately.  
13
What will you need to do when clients request alternatives to your
recommendations?  
14
What are the limits you will need to observe when you are presenting
clients with broking options?  
15 Outline a basic complaints handling procedure that you could follow,
maintaining communication channels, when dealing with a customer
complaint.
 
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
27

16
How will you need to obtain agreement to proceed from clients?
 
17
What relevant documentation will you need to use to record your client
interactions and to provide conformation to clients?  
18
Why do you need to ensure that instructing or purchasing documents,
where required, are signed by clients?  
19
What are the types of post-broking services you will need to clearly define
and communicate to your clients?  
20
Briefly discuss the organisational guidelines top follow when dealing with
clients who have the following special needs:
a. Visual or hearing impairment.
b. English as a second language.
c. Cultural differences.
 
Feedback to Student:
Result  Satisfactory  Not Yet Satisfactory
Assessor’s Signature: Date:
FNSFMB503 Present broking options to client with complex needs
Assessment Guide
Copyright © Mentor Education Pty Ltd
RTO 21683
28