FNS40815 Certificate IV: Finance and Mortgage Broking Assessment 2

This assignment, part of the FNS40815 Certificate IV in Finance and Mortgage Broking, focuses on developing and implementing a cold calling script for a financial product. The student, acting as a financial products sales advisor for XYZ Financial Services, is tasked with analyzing the features and benefits of a selected product, in this case, a credit card. The assignment requires the creation of a detailed cold calling script, including addressing potential objections, and practicing the script with a list of potential contacts. The student then documents the responses and outcomes of these practice calls, simulating the use of a CRM system to record sales response information. The goal is to demonstrate the ability to prospect for new clients and effectively communicate the value of financial products through cold calling, even though the assignment specifies that actual cold calling is not required, and the student is supposed to provide made-up details.

FNS40815 Certificate IV in Finance and Mortgage
Broking
FNSSAM403 Prospect for new clients
Assessment 2 - Performance
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Assessment information
You work as a Financial Products sales advisor with XYZ Financial Services Pty Ltd
(XYZ).
Your manager has asked you to develop and implement a cold calling script for
one of XYZ’s financial products.
Instructions to complete this assessment
In order to complete this assessment, you are required to complete the following
sections consecutively. Details and specific instructions are provided within each
section and on the form/templates provided.
Supporting documents
To find the relevant supporting documents, please refer to the Assessment
Resources folder, located within the FNSSAM403 Prospect for new client’ssection
of your course (Note: Not all units have Assessment Resources.)
Section 1 – Undertake Prospecting Exercise
Requirements
Complete each of the following steps:
1. Select a financial product, such as a specific type of loan or credit card.
Complete a detailed analysis of the features and benefits of the product in the
table below. Note: Adjust the table as required. (Note: Identify the source of
the product information).
Benefits Drawbacks
Credit cards Convenience Temptation
Recordkeeping: Interect chanrges
Low-cost loans Fees
Cash advances Monthly scrutiny
Member perks Tricky short term teaser
rates
Build a good credit
history
Purchase protection
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2. Develop a cold calling script for the loan or credit card product selected above.
Be sure to assess and address any likely objections. Enter the script in the
table below. (Note: Your script should begin by stating that the call is a student
exercise and not a real product sale call).
Student : Hello, am I talking to Mr. XYZ?
XYZ: Yes, this is him. How can I help?
Student: XYZ, I’m calling from Bank. I can see you have a bank account with us
for a long time and we’re currently offering premium credit cards to such users.
Can I have your two minutes, please?
XYZ : Sure, please tell me.
Student : We’re introducing two premium credit cards – Gold & Platinum. With
the Gold credit card, you can get a 5% instant cashback on your online
purchases with additional benefits. With Platinum, you can travel internationally
at almost half the price for an entire year! Would you be interested to hear
about these cards XYZ?
XYZ: Yeah sure. Please go ahead.
3. Identify 10 people who may or not be known to you, who will be cold called to
provide practice for delivering your cold call script. (Note: close friends or
family members are not appropriate). (Note also: COLD CALLING IS NOT
REQUIRED! Please just provide made up names and details as though you
would be contacting these people.)
Name Contact Number Relationship to you
XYZ 1234xxxxxxx Business partner
Ryan 4562 xxxxxxx Employee
PUE 4126 xxxxxxx Manager
Benedict 8540 xxxxxxx Employee
Patrick 5694 xxxxxxx Sales manager
Ward 7594 xxxxxxx HR
Rey 6954 xxxxxxx Business partner
Roger 2564 xxxxxxx Employee
ABC 1578 xxxxxxx Media partner
PQR 9547 xxxxxxx Business partner
4. Cold call all of the 10 names in the above list. Ensure that all of the detail in
the cold calling script is covered. Make notes, or record, each call. Ensure the
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time and date of the cold call is recorded.(Note also: COLD CALLING IS NOT
REQUIRED! Please just provide made up names and details as though you
would be contacting these people.)
Name Time Date
XYZ 10:00 AM 05/05/xxxx
Ryan 12:00pm 06/05/xxxx
PUE 1:00 pm 06/05/xxxx
Benedict 2:00pm 07/05/xxxx
Patrick 10:00am 08/05/xxxx
Ward 11:00 am 09/05/xxxx
Rey 12:00 pm 10/05/xxxx
Roger 4:00 pm 15/05/xxxx
ABC 5: 00 pm 16/05/xxxx
PQR 3:00 pm 17/05/xxxx
5. In a table below, establish a sales response informationrecord about each of
the 10 cold call contacts. Note: Assume the information in the table was to be
included in an organisational CRM. (Note also: COLD CALLING IS NOT
REQUIRED! Please just provide made up names and details as though you
would be contacting these people.)
Name Response
XYZ They have given the right respondent and
easily make sure for selecting the
products and services.
Ryan He just behave in such a way that he
might be having the huge interest in
buying the products
PUE His behaviours is not so good and not
taking much interest in the products.
Benedict They just said about thinking about the
product and make sure for buying this
products.
Patrick He have given the right respondents and
make sure for buying the products while
by visiting the bank.
Ward He would like to much advnatge for this
scheme and make sure about the various
products in the financial system.
Rey They have given no response to the call.
Roger He was much interested and buy the
products.
ABC She said about to think and make sure
about that she will buy the products and
many more thing from the better financial
servicec.
PQR They have taken no interest in buying any
financial products.
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