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.
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 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. 
 




 
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 =  of a foolscap page
Brief Report	500 words = 1 page typed report, or 50 lines of handwritten text = 1foolscap 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

 
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 your workbook and/or workplace	Answers do not address the question in full; do not refer to 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

 

 

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:
oWritten 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
oThird Party Report The student will complete the practical activity provided to them by the assessor. The Practical Activity Checklist will be completed by the Supervisor.			S		NYS
oResearch Task and Written Questions and/or Oral Questions Checklist 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: o  The material I have submitted is my own work; o  I have kept a copy of all relevant notes and reference material that I used in the production of my work; o  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:

 
 

Result and Feedback
Feedback to Student:
Overall Outcome                           oCompetent                           oNot yet Competent
Assessor Signature:		Date:

 

 
1.      Relevant Legislation, Regulations and Codes of Practice.
In a manner that would be appropriate to include in the induction package of a new employee, identify and outline the legislation, regulations and codes of practice that affect the broking industry.
This task must be completed within 45 minutes.
 
2.      Key Products Available In the Broking Industry.
Develop an information flier explaining at least 3 of the key products available in the broking industry.
Fliers must be completed within 30 minutes.
 
3.      Organisational Guidelines and Procedures on Assessing Impact of Risks and Documenting Broking Recommendations.
Conduct some research and detail the common organisational guidelines and procedures that are to be applied for assessing the impact of risks and for documenting broking recommendations.
This task must be completed within 30 minutes.
 
4.      Relevant Risk Issues.
In a manner that would be appropriate to include in the induction package of a new employee, explain the risk issues that relate to each of the following:
a.       Borrowing risk and gearing.
b.       Economic risk.
c.       Specific product risk.
d.       Institutional risk.
e.       Risk factors and return expectations of the client.
f.        Volatility of income and capital.
This task must be completed within 45 minutes.

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:
Identify and outline the legislation, regulations and codes of practice that affect the broking industry.		£	£
Develop an information flier explaining at least 3 of the key products available in the broking industry.		£	£
Detail the common organisational guidelines and procedures that are to be applied for assessing the impact of risks and for documenting broking recommendations.		£	£
Did the Student provide evidence of their ability toexplain the risk issues that relate to each of the following:
·         Borrowing risk and gearing.		£	£
·         Economic risk.		£	£
·         Specific product risk.		£	£
·         Institutional risk.		£	£
·         Risk factors and return expectations of the client.		£	£
·         Volatility of income and capital.		£	£
Feedback to Student:
Result             oSatisfactory               o Not Yet Satisfactory
Assessor’s Signature:		Date:

 
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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 the 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 to your supervisor in conditions that are safe and replicate the workplace. The following task must be completed in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the finance and mortgage broking field of work and include access to:
·         Office equipment, technology, software and consumables.
·         Economic and financial services product information.
·         Specialist software and data.
 
For this task you are to complete the following steps to identify and develop detailed broking options that are designed to maximise the client’s outcomes and meet client needs, for at least 1 client who has complex needs.
 
Perform the following steps to identify the complex broking needs of the client:
1.       Meet with the client to discuss, review and clarify the special or complex features of their situation and needs. Provide a list of the complex needs and features of their situation to your assessor.
2.       Comprehensively and ethically, discuss and explore with the client their risk issues and tolerance, including unusual risks or requirements, and interdependencies and implications. Outline the risks identified to your assessor.
3.       Assess, according to the legislative requirements and organisational guidelines and procedures, the impact of risks to the client or the organisation, as required, engaging in further questioning and information gathering activities. Provide an outline of the impact of the above risks to your assessor.
 

 
Complete the following steps to research and consider broking solutions for the client, based on their needs:
4.       Analyse the current client situation to determine the opportunities and constraints. Provide an outline of the opportunities and constraints.
5.       Research loan structures or options, including those which are new or non-standard products. Provide a copy of the research you performed.
6.       Analyse the complex financial issues in terms of economics, legislation, taxation and insurance. Provide a copy of your analysis.
7.       Model, analyse and prioritise the options comparing the features, fees and charges, and risks. Provide a brief outline of the fees, charges and risks.
8.       Reject any inappropriate options. Discuss any options that you rejected.
9.       Check and test the preliminary options to ensure they are in compliance with relevant legislation, as well as regulatory and ethical guidelines, and assess its ability to successfully meet the needs of the client.
 
Perform the following steps to select appropriate options and gather the information required for the client to review:
10.   Select broking options for client review that are appropriate to their needs, and develop or obtain appropriate explanatory material. Provide a copy of the broking options you have deemed appropriate for your client.
11.   Consider, where required in the broking solution, referrals to an accountant, financial adviser or lawyer. Provide a list of referrals (if required).
12.   Develop and incorporate into the materials for the client your recommendations on risk management strategies, as well as a description of the anticipated fees and charges. Provide a copy of your recommendations.
13.   Include in the client material, information on the complaints resolution procedures, for both internal and external complaints. Provide a copy of the complaints resolution procedure.
14.   Document your broking recommendations and loan structures for presentation to the client in accordance with the organisational guidelines and procedure, providing a detailed analysis of the research strategies and findings, and a risk analysis. Provide the documentation you have completed as part of this assessment.
 
After you have successfully completed the above steps to identify and develop broking options for at least 1 client with complex needs, you will need to sit down with your assessor and discuss:
15.   Any of the following complex features that relate to the 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.
16.   Any risk issues relevant to:
a.       Borrowing risk and gearing.
b.       Economic risk.
c.       Specific product risk.
d.       Institutional risk.
e.       Volatility of income and capital.

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17.   The organisational guidelines and procedures followed for assessing the impact of risks and for documenting your broking recommendations.

*Multiple copies of the checklist will need to be printed if the practical activity is to be completed more than once.

Practical Activity 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 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.
Student’s name:
Supervisors name:
		Has the student satisfactorily completed the practical activity?
		Yes	No
Did the Student provide evidence of their ability to?
Meet with the client to discuss, review and clarify the special or complex features of their situation and needs.		£	£
Comprehensively and ethically, discuss and explore with the client their risk issues and tolerance, including unusual risks or requirements, and interdependencies and implications.		£	£
Assess, according to the legislative requirements and organisational guidelines and procedures, the impact of risks to the client or the organisation, as required, engaging in further questioning and information gathering activities.		£	£
Analyse the current client situation to determine the opportunities and constraints.		£	£
Research loan structures or options, including those which are new or non-standard products.		£	£
Analyse the complex financial issues in terms of economics, legislation, taxation and insurance.		£	£
Model, analyse and prioritise the options comparing the features, fees and charges, and risks.		£	£
Reject any inappropriate options.		£	£
Check and test the preliminary options to ensure they are in compliance with relevant legislation, as well as regulatory and ethical guidelines, and assess its ability to successfully meet the needs of the client.		£	£
Select broking options for client review that are appropriate to their needs, and develop or obtain appropriate explanatory material.		£	£
Consider, where required in the broking solution, referrals to an accountant, financial adviser or lawyer.		£	£
Develop and incorporate into the materials for the client your recommendations on risk management strategies, as well as a description of the anticipated fees and charges.		£	£
Include in the client material information on complaints resolution procedures, for both internal and external complaints.		£	£
Document your broking recommendations and loan structures for presentation to the client in accordance with the organisational guidelines and procedure, providing a detailed analysis of the research strategies and findings, and a risk analysis.		£	£
Any of the following complex features that relate to the client situation and needs:
·         Commercial loans.		£	£
·         Chattel leases.		£	£
·         Native title rights.		£	£
·         Heritage issues.		£	£
·         Contaminated sites or properties near noxious industries.		£	£
Any risk issues relevant to: ·         Borrowing risk and gearing.		£	£
·         Economic risk.		£	£
·         Specific product risk.		£	£
·         Institutional risk.		£	£
·         Volatility of income and capital.		£	£
The organisational guidelines and procedures followed for assessing the impact of risks and for documenting your broking recommendations.		£	£
Feedback to Student:
Result             oSatisfactory               o Not Yet Satisfactory
Supervisors Signature:		Date:

 
 
 
 

 
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 this task to ascertain if you are to complete this section. Your assessor can be contacted via their email address provided to you on enrolment or via service@mentor.edu.au.
 
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 research the complex features of client situations, risk issues, management and tolerance, ethics and loan structures and options.  You will also need to analyse and prioritise the available options to clients, complaint resolution process and information provided to clients as part of your research.
1.       Identity and briefly explain the following types of complex features that you will need to discuss, review and clarify if they relate to 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.
2.       What information do you need to identify when you are exploring and discussing with client’s risk issues and tolerance?
3.       Why is it important to ensure that discussions with clients are conducted comprehensively and ethically?
4.       Briefly explain how to use a risk profile to assess the impact of risks to the client or organisation.
5.       What methods could you use to engage in further questioning and information gathering if you have not gathered sufficient information to complete an adequate risk profile? Discuss at least 2.
6.       What are the areas of the client situation that you may need to analyse to determine their opportunities and constraints?
7.       Discuss 3 of the research methods you could use to research loan structures or options.
8.       What are the 4 areas that you need to analyse complex financial issues in terms of? Briefly describe each.
9.       Identify and define the information you will need to include and compare in your model to analyse and prioritise the available options.
10.   What will you need to do with the available options once you have the outcomes of your modelling?
11.   What are the requirements that you will need to check to ensure the preliminary options comply with?
12.   How can you assess the ability of the preliminary options to successfully meet client needs?
13.   What types of explanatory material could you develop or obtain to help clients review the selected broking options?
14.   Briefly discuss why you might consider a referral to each of the following in a broking situation:
a.       Accountant.
b.       Financial advisor.
c.       Lawyer.
15.   List 3 examples of risk management strategy recommendations you may incorporate into your materials for the client.
16.   Why is it important to include a brief description of the anticipated fees and charges in your client materials?
17.   Briefly discuss the types of information that you would include on complaints resolution, both internal and external, in the client materials.
18.   What information should you include in your documented broking information and loan structures, to be presented to clients?
 

 

Research Task And Written/Oral Questions Checklist
The assessor needs to indicate whether they have conducted the questioning as written questions or as verbal questions by ticking the box below.
oWritten Questioning			oVerbal 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, theassessor 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	Identity and briefly explain the following types of complex features that you will need to discuss, review and clarify if they relate to a client situations and needs: a.         Commercial loans. b.        Chattel leases. c.         Native title rights. d.        Heritage issues. e.         Contaminated sites or properties near noxious industries.				£	£
2	What information do you need to identify when you are exploring and discussing with clients risk issues and tolerance?				£	£
3	Why is it important to ensure that discussions with clients are conducted comprehensively and ethically?				£	£
4	Briefly explain how to use a risk profile to assess the impact of risks to the client or organisation.				£	£
5	What methods could you use to engage in further questioning and information gathering if you have not gathered sufficient information to complete an adequate risk profile? Discuss at least 2.				£	£
6	What are the areas of the client situation that you may need to analyse to determine their opportunities and constraints?				£	£
7	Discuss 3 of the research methods you could use to research loan structures or options.				£	£
8	What are the 4 areas that you need to analyse complex financial issues in terms of? Briefly describe each.				£	£
9	Identify and define the information you will need to include and compare in your model to analyse and prioritise the available options.				£	£
10	What will you need to do with the available options once you have the outcomes of your modelling?				£	£
11	What are the requirements that you will need to check to ensure the preliminary options comply with?				£	£
12	How can you assess the ability of the preliminary options to successfully meet client needs?				£	£
13	What types of explanatory material could you develop or obtain to help clients review the selected broking options?				£	£
14	Briefly discuss why you might consider a referral to each of the following in a broking situation: a.         Accountant. b.        Financial advisor. c.         Lawyer.				£	£
15	List 3 examples of risk management strategy recommendations you may incorporate into your materials for the client.				£	£
16	Why is it important to include a brief description of the anticipated fees and charges in your client materials?				£	£
17	Briefly discuss the types of information that you would include on complaints resolution, both internal and external, in the client materials.				£	£
18	What information should you include in your documented broking information and loan structures, to be presented to clients?				£	£
Feedback to Student:
Result             oSatisfactory               oNot Yet Satisfactory
Assessor’s Signature:				Date:

 
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