FNS40815 Certificate IV in Finance and Mortgage Broking - Exercise 4

This document presents a student's solutions to an assignment related to FNS40815 Certificate IV in Finance and Mortgage Broking. The solutions cover a range of topics including customer needs and expectations, behavioral competencies of staff, collection of important information, service provider responsibilities under consumer protection laws, and guidelines for customer service as a broker. The document also addresses recommendations for improving service delivery, handling customer objections, understanding different personality types, establishing networking strategies, identifying various sectors of financial services, promoting environmental sustainability, and outlining the ACL application process. Furthermore, it discusses loan products, provides calculations for joint borrowings, and highlights essential employability skills for financial brokers, offering a comprehensive overview of key concepts in finance and mortgage broking.

Running Head: Finance
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Finance
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Question 1: Customer needs expectation and priorities:
1. Time on which customer need delivery
2. Place on which customer need delivery
3. Customize service
4. Main elements
5. The main goal of the customer
Question 2: behavioural competencies:
1. Nature of the staff
2. Competency level of the staff
3. Training and patience level of the staff
4. Language
5. Timing
This could be measured through the feedback form of the client.
Question 3: collection of importance:
Information could be collected by an organization through identifying the internal and
external environment of the company and through generating the idea about the industry and
other competitors through the clients.
Question 4: Service provides:
Consumer protection act is there to evaluate and analyze the service delivery of an
organization. Online service law also ensures about the service delivery and the offers. Law

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are important to ensure that the right product is delivered to the right person on right time. It
is important to manage the customer’s need and expectation.

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Question 5: Guide on customer service:
As a broker it is important to ensure and manage the customers need and expectation.
A broker could meet the customer need and expectation through following the proper
policies:
1. Time on which customer need delivery
2. Place on which customer need delivery
3. Customize service
4. Main elements
5. The main goal of the customer
Further, it is also required for the broker to manage the delivery on the time. The urgent
order should be the priority of the broker so that the goods could be delivered on time to the
customers. The urgency could be recognized and maintained by the broker after discussing
the same with the client.
It is important for the broker to identify and deliver the services to the client on the
time. The priority should be managed and maintained by the broker on various bases such as
urgency of the order. The priority list should be prepared by the broker before deliver the
services so that all the services could be delivered on the time and the reliability of the clients
could be enhanced. It would also assist the broker to enhance the reputation in the market.
Further, it is also important for the broker to identify the types of services which
would be delivered to the client and must evaluate the choices of the services. These choices
must be listed and briefed to the clients before so that he could choose the service according
to the choice and manage the performance. The choice list should be prepared by the broker
before deliver the services so that all the services could be delivered essentially and

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effectively and the reliability of the clients could also be enhanced. It would also assist the
broker to enhance the reputation in the market.
Further, the broker should assist its client to choose the perfect option from the
available options. Broker should evaluate the gaols and the objectives of the client and then
choose the best option for them so that all the services could be delivered essentially and
effectively and the reliability of the clients could also be enhanced. It would also assist the
broker to enhance the reputation in the market.
Still, if any case, the client is not satisfied with the services than immediate action
would be taken. The main issue would be asked to the client and try to be resolved and if the
issue could not be resolved than it would be assure to the client than the money would be
return to him or her in next 30 days.
The feedback of the customer must always be taken by the broker so that the next
services could be delivered on the basis of that.

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Question 6: recommendation:
Service delivery could be better through the following steps:
1. Meeting expectations
2. Competent staff
3. Keeping promises
4. Individual circumstances
5. Treating people fairly
6. Good value for tax dollars
Question 7: Objections list:
I am not interested Broker should be patient and brief about the
pros of the policy. This would help the
broker to generate the interest.
Now is not a good time Ask about the right time and make a call on
the right time according to the party.
We are already working with someone Ask about the other party and their deals and
offer the cheap deals to the party.
Question 8: personality types:
The director This kind of personalities is generally

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associated with demanding people.
The analytical personality This kind of personalities has professional’s
tactics which are required to analysis of a
part.
The customer type This kind of personalities wants to be a part
of a group.
The socialiser These kind of personalities love to talk and
they love to make new friends.
Question 9: establishment of networking:
1. Determine an overall vision
2. Create a proposal statement
3. Develop objectives for each area
4. Measure progress
5. Take action
Question 10: different sector of financial services:
Commercial Bank It safe keeps the deposits and issuance the
debit and credit cards.
Investment Bank It works with the high net worth clients and

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deal makers.
Financial advisor Financial advisor only advise about the stock
and security market.
Discount brokerage Brokerage helps the dealers to buy and sell
the stock.
Question 11: Environmentally sustainable:
1. Become more aware about the resources
2. Conserve water
3. Practice conversation
4. Reduce use of harmful chemicals
5. Bur recycled products
Question 12: ACL application:
Following documents are required for ACL process:
1. Bank details
2. Identity proves
3. Bank statement
4. Bankruptcy report
5. National criminal history check
6. Background check

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7. Overseas criminal history check
8. Overseas bankruptcy check
9. Academic reports (ASIC, 2018)
10. Income sources
Question 13: loan product
The name of the loan product is fixed deposit of 1 year.
Australia and new Zealand banking group
limited
The interest rate of ANZ bank is 3% per
annum.
Westpac The interest rate of Westpac is 3% per
annum.
Bank SA The interest rate of bank SA is 3% per
annum.
Commonwealth bank of Australia The interest rate of ANZ bank is 3% per
annum (term deposits, 2018).
Question 14: Calculations:
The case briefs that if Mr. X would apply for the joint borrowings than they would be
able to borrow $ 7,61,000.
Question 15: employability skills:

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Communication Communication is one of the important
process for the financial broker to convey the
information about the company and the shares
with related parties.
Teamwork Teamwork is essential skill for every
employee to accomplish the task effectively.
Problem Solving Problem solving skills assist the financial
broker to manage all the risk and resolve it on
time.
Imitative and enterprises An employee should have initiative nature. It
would assist the employee to grow faster.
Planning and organizing Planning and organizing should be done by
the employees in proper way to manage the
performance of the company.
Self management Self management must be learnt by every
employee to accomplish the task effectively.
Learning Learning is important aspect which assists the
employees to learn each new aspect perfectly.
Technology Technology skills brief about the
mathematical and engineering skills which

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should be accomplished by the employees.
References:
Term deposits. (2018). Deposit rates. Retrieved as on 11th April 2018 from
https://www.canstar.com.au/term-deposits/term-deposit-rates/.
ASIC. (2018). ACL. Retrieved as on 11th April 2018 from http://asic.gov.au/for-finance-
professionals/credit-licensees/applying-for-and-managing-your-credit-licence/applying-for-a-
credit-licence-summary-business-description/.