Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSFMK511 Mapping and Delivery Guide
Apply limits when trading

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSFMK511 - Apply limits when trading
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to identify, respond to and periodically review trading limits set by an organisation.It applies to individuals who use specialised knowledge, analytical skills and systematic approaches to manage risk and implement procedures.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.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

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

office equipment, technology, software and consumables

financial markets information.

Assessors must satisfy NVR/AQTF assessor requirements.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Identify trading limits
  • Access and accurately interpret various types of trading limits in an organisation
  • Identify organisational trading limits and incorporate in any potential transaction or position assessment
  • Constantly monitor, interpret and apply changes to organisational trading limits
       
Element: Respond to trading limit breaches
  • Follow and comply with process for identifying and reporting potential trading breaches to relevant personnel according to organisational guidelines
  • Identify and comply with organisational process for approving limit breaches, including all communication requirements
  • Identify and comply with organisational process for dealing with inadvertent breaches, including all communication requirements
  • Manage consequences of breach according to organisational guidelines
       
Element: Review trading limits
  • Monitor trading limits in place and compare with current trading position
  • Identify when trading limit is close to being met, and devise appropriate response
       


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. Identify trading limits

1.1 Access and accurately interpret various types of trading limits in an organisation

1.2 Identify organisational trading limits and incorporate in any potential transaction or position assessment

1.3 Constantly monitor, interpret and apply changes to organisational trading limits

2. Respond to trading limit breaches

2.1 Follow and comply with process for identifying and reporting potential trading breaches to relevant personnel according to organisational guidelines

2.2 Identify and comply with organisational process for approving limit breaches, including all communication requirements

2.3 Identify and comply with organisational process for dealing with inadvertent breaches, including all communication requirements

2.4 Manage consequences of breach according to organisational guidelines

3. Review trading limits

3.1 Monitor trading limits in place and compare with current trading position

3.2 Identify when trading limit is close to being met, and devise appropriate response

Evidence of the ability to:

identify and monitor financial trading limits using a range of data sources

deal effectively and promptly with financial trading limit breaches following all required industry and organisational policy and procedures.

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:

assess the impact of the following key economic features on trading limits:

characteristics and impacts of economic and business cycles

monetary and fiscal policies

interest rates, exchange rates and inflation

discuss the purpose of trading limits and why they are strictly enforced

compare and contrast data collection and management systems

describe key aspects of organisational risk management framework, including risk tolerance and application via limits

discuss the structure and interrelationships within the financial markets.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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. Identify trading limits

1.1 Access and accurately interpret various types of trading limits in an organisation

1.2 Identify organisational trading limits and incorporate in any potential transaction or position assessment

1.3 Constantly monitor, interpret and apply changes to organisational trading limits

2. Respond to trading limit breaches

2.1 Follow and comply with process for identifying and reporting potential trading breaches to relevant personnel according to organisational guidelines

2.2 Identify and comply with organisational process for approving limit breaches, including all communication requirements

2.3 Identify and comply with organisational process for dealing with inadvertent breaches, including all communication requirements

2.4 Manage consequences of breach according to organisational guidelines

3. Review trading limits

3.1 Monitor trading limits in place and compare with current trading position

3.2 Identify when trading limit is close to being met, and devise appropriate response

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
Access and accurately interpret various types of trading limits in an organisation 
Identify organisational trading limits and incorporate in any potential transaction or position assessment 
Constantly monitor, interpret and apply changes to organisational trading limits 
Follow and comply with process for identifying and reporting potential trading breaches to relevant personnel according to organisational guidelines 
Identify and comply with organisational process for approving limit breaches, including all communication requirements 
Identify and comply with organisational process for dealing with inadvertent breaches, including all communication requirements 
Manage consequences of breach according to organisational guidelines 
Monitor trading limits in place and compare with current trading position 
Identify when trading limit is close to being met, and devise appropriate response 

Forms

Assessment Cover Sheet

FNSFMK511 - Apply limits when trading
Assessment task 1: [title]

Student name:

Student ID:

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

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSFMK511 - Apply limits when trading

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:

Signature:

Date:

Student signature:

Date: