Assessor Resource

FNSFPL401
Extract and analyse information on specified financial strategies and products

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to research information on specified financial products and strategies for use in the financial planning process. It encompasses interpreting research requirements, researching financial products and strategies, summarising research information and contributing to financial plan recommendations.

It applies to individuals who, within their level of responsibility, independently and accurately research and analyse information using systematic approaches to contribute recommendations.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Interpret research requirements

1.1 Review and quantify client information and objectives, and establish research topics

1.2 Check specifications of products and/or services to be researched with senior financial planner

1.3 Establish and accurately interpret aims and objectives of research, and measure against client requirements and expectations

1.4 Establish timeframes and prioritise requests to ensure available information is useable and justifiable

2. Research financial products and strategies to set guidelines

2.1 Ensure data extraction criteria are relevant to intended use and client requirements

2.2 Identify trends to provide meaningful information on strategies and product performance

2.3 Identify potential risk factors associated with researched strategies and products

2.4 Analyse financial products and strategies within appropriate timeframes to ensure currency of decision making

2.5 Identify issues that require specialist and/or independent research or advice

3. Summarise research information and contribute to recommendations

3.1 Collate, prioritise and check information on financial strategies and products against research specification

3.2 Analyse research for completeness and assess for relevant implications of information

3.3 Prepare written performance, trend and risk analyses and check against research specification

3.4 Define and record any qualifications or issues for further research

3.5 Provide recommendations to financial planning process according to organisational procedures and guidelines

Evidence of the of the ability to:

interpret research requirements and research financial products and strategies to set guidelines

summarise research information and contribute to recommendations.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

describe the key features of:

organisational policy, objectives and guidelines

financial industry code of practice requirements

relevant legislation and regulations

analyse and explain risks associated with specific financial products and services

outline the effect of taxation and social security systems and regulations on specified financial products

describe the role of independent analysts and the value of their recommendation

summarise the key needs of clients and referral processes to specialist personnel

describe the key theories of investment, portfolio management and management of investment and risk.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial planning field of work and include access to:

office equipment, technology, software and consumables

the internet.

Assessors must satisfy NVR/AQTF assessor requirements.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Interpret research requirements

1.1 Review and quantify client information and objectives, and establish research topics

1.2 Check specifications of products and/or services to be researched with senior financial planner

1.3 Establish and accurately interpret aims and objectives of research, and measure against client requirements and expectations

1.4 Establish timeframes and prioritise requests to ensure available information is useable and justifiable

2. Research financial products and strategies to set guidelines

2.1 Ensure data extraction criteria are relevant to intended use and client requirements

2.2 Identify trends to provide meaningful information on strategies and product performance

2.3 Identify potential risk factors associated with researched strategies and products

2.4 Analyse financial products and strategies within appropriate timeframes to ensure currency of decision making

2.5 Identify issues that require specialist and/or independent research or advice

3. Summarise research information and contribute to recommendations

3.1 Collate, prioritise and check information on financial strategies and products against research specification

3.2 Analyse research for completeness and assess for relevant implications of information

3.3 Prepare written performance, trend and risk analyses and check against research specification

3.4 Define and record any qualifications or issues for further research

3.5 Provide recommendations to financial planning process according to organisational procedures and guidelines

Evidence of the of the ability to:

interpret research requirements and research financial products and strategies to set guidelines

summarise research information and contribute to recommendations.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

describe the key features of:

organisational policy, objectives and guidelines

financial industry code of practice requirements

relevant legislation and regulations

analyse and explain risks associated with specific financial products and services

outline the effect of taxation and social security systems and regulations on specified financial products

describe the role of independent analysts and the value of their recommendation

summarise the key needs of clients and referral processes to specialist personnel

describe the key theories of investment, portfolio management and management of investment and risk.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial planning field of work and include access to:

office equipment, technology, software and consumables

the internet.

Assessors must satisfy NVR/AQTF assessor requirements.
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Review and quantify client information and objectives, and establish research topics 
Check specifications of products and/or services to be researched with senior financial planner 
Establish and accurately interpret aims and objectives of research, and measure against client requirements and expectations 
Establish timeframes and prioritise requests to ensure available information is useable and justifiable 
Ensure data extraction criteria are relevant to intended use and client requirements 
Identify trends to provide meaningful information on strategies and product performance 
Identify potential risk factors associated with researched strategies and products 
Analyse financial products and strategies within appropriate timeframes to ensure currency of decision making 
Identify issues that require specialist and/or independent research or advice 
Collate, prioritise and check information on financial strategies and products against research specification 
Analyse research for completeness and assess for relevant implications of information 
Prepare written performance, trend and risk analyses and check against research specification 
Define and record any qualifications or issues for further research 
Provide recommendations to financial planning process according to organisational procedures and guidelines 

Forms

Assessment Cover Sheet

FNSFPL401 - Extract and analyse information on specified financial strategies and products
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

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Result: Competent Not yet competent

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Assessment Record Sheet

FNSFPL401 - Extract and analyse information on specified financial strategies and products

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

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