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Evidence Guide: BSBINT306B - Apply knowledge of international finance and insurance to complete work requirements

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

BSBINT306B - Apply knowledge of international finance and insurance to complete work requirements

What evidence can you provide to prove your understanding of each of the following citeria?

Maintain currency of knowledge of finance and insurance

  1. Assess personal knowledge and skills in the area of finance and insurance against needs and available standards to determine currency and adequacy of own knowledge and skills
  2. Identify the various insurance types available and their application for international trade
  3. Identity knowledge and skills gaps
  4. Undertake development to ensure currency and adequacy of knowledge and skills in applying finance and insurance to own work
Assess personal knowledge and skills in the area of finance and insurance against needs and available standards to determine currency and adequacy of own knowledge and skills

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify the various insurance types available and their application for international trade

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identity knowledge and skills gaps

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake development to ensure currency and adequacy of knowledge and skills in applying finance and insurance to own work

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify information requirements and access available information

  1. Determine specific needs for information
  2. Access enterprise resources to obtain available information
  3. Check and access information from available resources against specific needs
  4. Access further information if required
Determine specific needs for information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Access enterprise resources to obtain available information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check and access information from available resources against specific needs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Access further information if required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Interpret and analyse available information

  1. Collect and collate available information for analysis
  2. Interpret, analyse and process available information to obtain required information
  3. Seek assistance of enterprise personnel and relevant third parties if required, to interpret, analyse and synthesise required information
  4. Check outputs of analysis process against required information and specific needs
  5. Undertake further research and analysis to meet specific needs if required
Collect and collate available information for analysis

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Interpret, analyse and process available information to obtain required information

Completed
Date:

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Seek assistance of enterprise personnel and relevant third parties if required, to interpret, analyse and synthesise required information

Completed
Date:

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Check outputs of analysis process against required information and specific needs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake further research and analysis to meet specific needs if required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply knowledge to specific international trading operations

  1. Use outcomes of research and analysis to facilitate international trading operations in compliance with relevant legislation (Australian and international), trade conventions and agreements, and international financing arrangements
  2. Complete documentation according to enterprise standards, instructions supplied with document or form, and directions obtained from originator of form or document
  3. Check documentation for accuracy and correctness by self and manager or supervisor as required
Use outcomes of research and analysis to facilitate international trading operations in compliance with relevant legislation (Australian and international), trade conventions and agreements, and international financing arrangements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete documentation according to enterprise standards, instructions supplied with document or form, and directions obtained from originator of form or document

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check documentation for accuracy and correctness by self and manager or supervisor as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

accessing, analysing and applying information related to finance and insurance to international trading operations

completing documentation related to finance and insurance of international trading operations

knowledge of financial risk and financing options for mitigating risk.

Context of and specific resources for assessment

Assessment must ensure:

access to an actual workplace or simulated environment

access to office equipment and resources

examples of case studies relating to finance and insurance in international trading operations.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate

review of development taken to ensure currency and adequacy of knowledge and skills in applying finance and insurance to own work

analysis of responses to case studies and scenarios

observation of presentations on financial and insurance requirements for international transactions

oral or written questioning to assess knowledge of importing and exporting requirements

assessment of research undertaken in determining international finance and insurance requirements

assessment of completed documentation.

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

finance units or other international business units.

Required Skills and Knowledge

Required skills

culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse abilities

literacy skills to access and interpret documentation

numeracy skills to ensure accuracy of calculations for fees and charges, currency conversions and payments required

analysis skills to evaluate knowledge and skills gaps

problem-solving skills to identify information requirements.

Required knowledge

identification and overview knowledge of key provisions of relevant legislation from all levels of government that affects business operations, codes of practice and national standards, such as:

contract law

Customs Act

International Commercial Terms (INCOTERMS)

trade modernisation legislation: Customs Legislation Amendment and Repeal Act, Import Processing Charges Act, Customs Depot Licensing Charges Amendment Act

Trade Practices Act

Warsaw Convention

World Trade Organization determinations

enterprise policies and procedures relating to international trading operations

financial risk and financing options for mitigating risk

regulatory authorities, their roles in international trade, and penalties for incorrect documentation and declarations

current political events related to countries with which organisation is trading.

Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Available standards may include:

competency standards

enterprise standards

industry standards

specific training courses related to international trade

Development may include:

formal training courses

industry-based seminars

information sessions hosted by government departments, industry associations

mentoring/coaching arrangements

reading programs

Enterprise resources may include:

enterprise knowledge management system

enterprise library or filing system

government publications (Australian and international)

other personnel in the enterprise

Accessing information may include:

external resources, internet, government agencies

external libraries

information 'hotlines' and 'help desks'

International Chamber of Commerce

specialist external consultants

Documentation may include:

financial calculations related to taxation, fees, quotations

forms such as insurance claims or applications for policies, banking forms, internal requirements

letters, memos, reports, other internal documents

permit applications with regulatory authorities

Originator of documentation may include:

external sources including bank or financial institution, insurance broker or agency, regulatory authority

internal sources within organisation

Accuracy and correctness may include:

accuracy of calculations

correct spelling, grammar and syntax

required format

veracity of information supplied