Elements and Performance Criteria
- Apply knowledge of the role of credit
- Demonstrate clear understanding and ability to explain concepts and terminology of credit provided by a financial institution and debt incurred by a borrower
- Compare features of different types of loans or credit facilities
- Identify differences between unsecured and secured loans and explain implications of default on secured and unsecured loans
- Demonstrate understanding of and ability to explain the cost of credit
- Explain basic concepts and uses of documents and paperwork
- Identify common debt issues
- Discuss common types of debt including relationship debt with client and identify its potential implications in relation to specific client situation
- Provide appropriate referrals to assist client to deal with debt issues
- Identify ways to avoid debt as a means to assist client to minimise debt
- Identify range of debt reduction strategies to address client situation
- Identify complaints and hardship options to address personal financial issues