CIVMB_OR_v4: Finance and Mortgage Broking Certificate IV Assignment

This document presents a student's oral assignment for the Certificate IV in Finance and Mortgage Broking (CIVMB_OR_v4). It includes preparation for the oral assessment, oral responses to questions, and a role-play component. The assignment covers topics such as assessing client needs, crafting professional emails, identifying necessary resources and equipment, and employing effective communication techniques. The student also reflects on strategies for handling difficult questions and preparing loan proposals. The assessment aims to demonstrate competency in areas like prospecting for new clients, processing credit applications, preparing loan applications, identifying client needs, presenting broking options, settling loan arrangements, complying with regulations, and applying professional practices within the financial services industry.

Oral Assignment
Certificate IV in Finance and Mortgage Broking
(CIVMB_OR_v4)
Audio
Student identification (student to complete)
Please complete the fields shaded grey.
Student number
Oral assignment result (assessor to complete)
Result — first submission (Details for each activity are shown in the table below)
Parts that must be resubmitted:
Result — resubmission (if applicable)
Result summary (assessor to complete)
Time First submission Resubmission (if required)
Preparation
for oral
assessment
Part 1 Instructions n/a n/a
Part 2 Preparation for oral assignment Not yet demonstrated Not yet demonstrated
Oral
assessment
Part 3 Oral response to questions 10 minutes Not yet demonstrated Not yet demonstrated
Part 4 Role play 10 minutes Not yet demonstrated Not yet demonstrated
Total time required 20 minutes
Feedback (assessor to complete)
[insert assessor feedback]
CIVMB_OR_v4

Before you begin
Read everything in this document before you start your oral assignment for the FNS40815
Certificate IV in Finance and Mortgage Broking (CIVMBv4).
About this document
This document is the oral assignment — half of the overall written and oral assignment.
This document includes the following parts:
• Part 1: Instructions for completing and submitting this assignment
• Part 2: Preparation for oral assessment
• Part 3: Oral responses to questions (10 minutes)
• Part 4: Role play (10 minutes).
How to use the study plan
We recommend that you use the study plan for this subject to help you manage your time to complete
the oral assignment within your enrolment period. Your study plan is in the KapLearn Certificate IV in
Finance and Mortgage Broking (CIVMBv4) subject room.
You will need to start preparing for your oral assignment a few weeks before the written and
oral assignment is due.
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Part 1: Instructions for completing and submitting
this oral assignment
Completing the oral assignment
For this oral assignment you are required to complete the following tasks:
• Part 2: Preparation for oral assessment: You must complete and submit your responses in this
document.
• Part 3: Oral response to questions: To be completed by audio recording. Your assessor will complete the
checklist.
• Part 4: Role play: To be completed by audio recording with a volunteer. Your assessor will complete the
checklist.
More information regarding requirements for the oral assignment are provided in the resources in your
subject in KapLearn.
Saving your work
Download this document to your desktop, type your answers in the spaces provided and save your
work regularly.
• Use the template provided, as other formats will not be accepted for these assignments.
• Name your file as follows: Studentnumber_SubjectCode_OralSubmissionNumber
(e.g. 12345678_CIVMB_OR_v4_Submission1).
• Include your student ID on the first page of the assignment.
Before you submit your work, please do a spell check and proofread your work to ensure that everything is
clear and unambiguous.
Submitting the oral assignment
You must submit your completed oral assignment (Word document) in a compatible Microsoft Word
document. You need to save and submit this entire document.
Do not remove any sections of the document.
Do not save your completed oral assignment as a PDF.
You will also need to upload an audio recording of your oral assessment.
The oral assignment (in Word) and the audio recording must all be completed before submitting it to Kaplan
Professional Education. Incomplete oral assignment documents and/or audio recordings will be returned to
you unmarked.
When you submit your written and oral assignment in KapLearn, the File submissions box will list the
maximum size for new files and the maximum number of attachments. Once you submit your
oral assignment and audio recording for marking you will be unable to make any further changes to it.
You are able to submit your written and oral assignment earlier than the deadline if you are confident you
have completed all parts and have prepared a quality submission.
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Refer to your study guide so you can plan ahead to complete your audio recording before the written and
oral assignment is due.
For more information see the resources in your subject about how to organise and upload your audio
recording in KapLearn.
Note: The written assignment (in Word), oral assignment (in Word) and audio recording must all be
submitted together.
The oral assignment marking process
You have 26 weeks from the date of your enrolment in this subject to submit your completed
oral assignment and audio recording.
If you reach the end of your initial enrolment period and have been deemed ‘Not Yet Competent’ in one or
more assessment items, then an additional four (4) weeks will be granted, provided you attempted all
assessment tasks during the initial enrolment period.
Your assessor will mark your assignments and return it to you in the Certificate IV in Finance and
Mortgage Broking (CIVFMBv4) subject room in KapLearn under the ‘Written and Oral Assessment’ page.
Make a reasonable attempt
You must demonstrate that you have made a reasonable attempt to complete all the parts of your oral
assessment. Failure to do so will mean that your oral assignment will not be accepted for marking,
therefore you will not receive the benefit of feedback on your submission.
If you do not meet these requirements, you will be notified. You will then have until your submission
deadline to submit your completed written and oral assessment.
How your oral assignment is graded
Oral assessment tasks are used to determine your ‘competence’ in demonstrating the required knowledge
and/or skills for each subject. As a result, you will be graded as either competent or not yet competent for
this oral assessment.
Your assessor will follow the below process when marking your oral assignment:
• Assess your responses in each part of the oral assessment, and then determine whether you have
demonstrated competence in each question or checklist.
• Determine if, on a holistic basis, your responses have demonstrated overall competence.
You must be deemed competent in all assessment items in order to be awarded your qualification,
including demonstrating competency in:
• all of the exam questions
• the written and oral assignment.
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‘Not yet competent’ and resubmissions
Should parts of your oral assignment be marked as ‘not yet demonstrated’ you will be given an additional
opportunity to amend your responses so that you can demonstrate your competency to the required level.
You must address the assessor’s feedback in your amended responses. You only need amend those sections
where the assessor has determined the assessment result is ‘not yet demonstrated’.
You may be asked to re-record a part of your audio recording or to answer some written questions in this
document. Use a different text colour for any written sections of your resubmission. Your assessor will be
in a better position to gauge the quality and nature of your changes. Ensure you leave your first assessor’s
comments in your oral assignment, so your second assessor can see the instructions that were originally
provided for you. Do not change any comments made by a Kaplan assessor.
Units of competency
This oral assignment is your opportunity to demonstrate your competency against these units:
FNSSAM403 Prospect for New Clients
FNSCRD301 Process applications for credit
FNSFMB401 Prepare loan application on behalf of finance or mortgage broking clients
FNSFMB402 Identify client needs for broking services
FNSFMB403 Present broking options to client
FNSFMB501 Settle applications and loan arrangements in the finance and mortgage broking industry
FNSFMK505 Comply with financial services regulation and industry codes of practice
FNSINC401 Apply principles of professional practice to work in the financial services industry
FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector
BSBITU306 Design and produce business documents
BSBCUS301 Deliver and monitor a service to customers
BSBCUS402 Address customer needs
Note that the Written and Oral Assignment is one of two assessments required to meet the requirements
of the units of competency.
We are here to help
If you have any questions you can do the following steps:
1. Read the resources and watch the video about oral assignment in your subject in KapLearn.
2. Post your query at the ‘Ask your Tutor’ forum in your subject room. You can expect an answer within
24 hours of your posting from one of our technical advisers or student support staff.
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Part 2: Preparation for oral assessment
To prepare for your oral assessment you are required to complete the following questions:
Question 1
How do you assess the need to adjust your interpersonal style to talk with different types of client?
Provide two (2) examples (e.g. where there is a language difficulty).
In this scenario, most of the cases, we look to find out a common language in which the client feels
comfortable for instance in English and thereafter undertake our conversation in order to complete the
meeting.
The other method used has been providing video presentation with the help of images and graphics with
the help of which the client will have an idea about what is being conveyed to them.
Question 2
You have a new client, Jeff Smith, and have just made an appointment to meet with him.
Compose a professional email to send to Jeff, confirming the appointment, outlining the purpose and time
of your first meeting. Your email should also name the document/s you have attached for him to read prior
to this meeting. (For this assessment there is no need to attach the document/s.)
To,
Jeff Smith
47 Kline Road,
Queensland
Dear Mr Smith,
This letter is with regards to your telephonic conversation which was undertaken yesterday. As per our
discussion, we had decided on having a meeting on 21st February 2019. This mail is in regards to the
confirmation of our meeting on the abovementioned date. As scheduled, the purpose of the meeting is to
provide you advice with regards to your future investments as per your future goals. An ideal meeting
would be held where all your queries will be met. The meeting will be held at your place and this is a gentle
reminder to maintain all the related documents during the time of meeting. The time of meeting as decided
will be at 5 pm.
I look forward for the meeting on the abovementioned date with you. In case of any change of plan with
regards to the meeting kindly drop a mail on this thread so that we can further discuss over it.
Regards
John Ronald
Question 3
In Parts 3 and 4 to this assessment you will act as a broker and will be required to make an audio recording.
Prepare a list of resources and equipment you will need for these oral assessments.
The lists of tools that will be required are:
 An audio recorder
 A recording mic
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 A headphone
Question 4
Aside from the resources and equipment identified in Question 3 what will you do to prepare for the
delivery of the loan proposal in Part 4 Role play? You can refer to the case study information in Part 4.
What communication techniques would you use to respond to any difficult questions.
This question demonstrates your ability to plan ahead for your interaction with the customer.
Face to face meetings is one of the sources that can be used with the help of which any sort of queries
and discrepancies can be cleared off. Telephonic conversations are even undertaken in case of emergency
or long distance communications with the help of which these issues can be sorted.
Assessor feedback: Resubmission required?
No
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Part 3: Oral response to questions
Make a 10 minute recording of yourself answering the following questions. Before you start make sure you
have read the resources in your subject in KapLearn to assist you with your oral assessment by audio
recording. Leave the second column blank so your assessor can record a summary of your oral response.
You will need to rehearse your responses before the oral assessment, to ensure that your responses are
within the maximum timeframe.
(Note: No volunteer is required when you complete these questions.)
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Questions Summary of oral response (assessor only)
1. You are a broker who charges a fee for
your service. You are meeting a new client,
Stephanie Jones, for the first time at your
office after an initial cold call. The purpose
of the meeting is so that you can start to
gather information about her existing
financial situation and needs. After
introducing yourself to Stephanie, there
are two documents you must provide her
with, as well as disclosures you are
required to make.
Name the two (2) documents you must
provide to Stephanie and explain the
disclosures. In your answer, give one (1)
example of how you would check with her
that she understands these disclosures.
(Disclosures should include, but are not limited to, the
range and limitation of your services, complaint handling
process and the way you are remunerated.)
Answer
You: Hello Stephanie, how are you doing
today?
Stephanie: I am fine, thank you
You: It’s a good thing that you could come
down to my office, I needed to give you
these documents and also explain some
disclosures.
Stephanie: Yeah I guessed that, so what are
these disclosures
You: Let me hand you these documents first.
This one is the term of agreement between
use stating my role and also the basic
knowledge of your business. The other
document is Financial Service guide which
will be give you all info on the type of
services and all the other legal
requirements. The former agreement deed
you need to sign.
Stephanie: Ok where do I need to sign.
You: Here and on the next pages as well. Full
Signature please. Ok now about those
disclosures, the Financial Service guide
contains most of the same such as name of
the broker, my track record, rules and
regulations. For any kind of financial
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Questions Summary of oral response (assessor only)
advice, I would require full disclosure from
your end as well such as your objectives
and goals, financing capability.
Lastly I would explain in details regarding the
product which I have advised for relaying
all benefits and requirements of the same.
Stephanie: Ok I get you.
You: These are very important. Now I want
you to go through them and ensure that
every point is clear to you.
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Questions Summary of oral response (assessor only)
2. Stephanie has acknowledged that she
understands the two documents and
disclosures. She then begins to tell you
more about her current financial situation.
Describe how you could:
• encourage Stephanie to express her
needs and goals
• determine her current investment and
assets position
• consider various home loan options for
her.
Answer
You: Ok now do you have any queries
regarding the disclosure or the two
documents which I presented to you.
Stephanie: No, I think I am ok with it. But If I
have any doubt I would consult you.
You: Yes, you can consult me anytime. Now I
need you to tell me your goals so that I
can suggest you some best product
where you can make investments.
You: I would also need some details about
your financial situation such as all assets
you own, liabilities that is due, any
liquidity issues, any past debts
everything. This would help me to
advise you better.
Stephanie: Ok I would provide you with all the
details in a client information form
which you have provided.
You: Ok there are a variety of home loan
options such as flexi variable interest
option, fixed interest option, AMP
program. Now I would be in a better
position to describe you in details after
you provide me with info sheet.
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Questions Summary of oral response (assessor only)
3. This is Stephanie’s first home purchase.
She is very happy with all of your advice
and has made a decision on which loan
option she would like to take. She now asks
‘what happens from here?’
Describe to Stephanie how you will assist
her by:
• outlining the key documents you will
require from her
• describing the steps that will occur from
this meeting through to the settlement
• liaising with all relevant parties to keep
the loan on track
• describing how you will keep her
informed.
Answer:
You: Ok, I think that you are satisfied with the
responses that I have provided you
with. Now I would be requiring a letter
of consent for proceeding further. A list
of assets which can be offer as collateral
for the loan. Your basic documents will
also be required.
Stephanie: Ok I have it all here with me now.
You: Now after this meeting, I would set a
meeting with the banker for the product
and bargain the interest rate as
discussed with you. I would submit all
the documents in a week’s time. I
estimate it will take 2 weeks more to
verify the documents and info provided
by you. The loan would be credited
directly to your account when all
processes are over.
You: I will keep in touch with you thought out
the process. I will be call you over phone
and will send emails so that you have a
record of the process.
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