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Evidence Guide: FNSFLT205 - Develop knowledge of the Australian financial system and markets

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

 

FNSFLT205 - Develop knowledge of the Australian financial system and markets

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

Describe what is meant by Australian financial markets

  1. Identify specific financial markets in Australia
  2. Describe purpose of financial markets and when they emerged in Australia
  3. Identify participants in financial markets and discuss roles of banks and financial institutions as financial intermediaries
Identify specific financial markets in Australia

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Describe purpose of financial markets and when they emerged in Australia

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify participants in financial markets and discuss roles of banks and financial institutions as financial intermediaries

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain function and role of Reserve Bank of Australia (RBA)

  1. Describe role of Reserve Bank of Australia (RBA) as Australia’s central bank and contrast with other banking institutions
  2. Explain importance and effect of RBA’s monetary policy on Australian economy and everyday consumers
Describe role of Reserve Bank of Australia (RBA) as Australia’s central bank and contrast with other banking institutions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain importance and effect of RBA’s monetary policy on Australian economy and everyday consumers

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain Australia’s monetary system

  1. Describe various functions of money and discuss society’s motivations for holding money
  2. Describe the monetary cycle in the economy and on a global scale, and instruments traded on short-term money market
  3. Explain impact of increases and decreases in money supply and importance of regulating money supply of any country
Describe various functions of money and discuss society’s motivations for holding money

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Describe the monetary cycle in the economy and on a global scale, and instruments traded on short-term money market

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain impact of increases and decreases in money supply and importance of regulating money supply of any country

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain key factors that influence the Australian economy

  1. Describe role and impact of Commonwealth and state government actions on the economy with reference to current events and issues
  2. Explain impact of change in domestic interest rates on different sectors of the economy
  3. Discuss impact of changes in consumer activity on the Australian economy
Describe role and impact of Commonwealth and state government actions on the economy with reference to current events and issues

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain impact of change in domestic interest rates on different sectors of the economy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discuss impact of changes in consumer activity on the Australian economy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Describe role of regulators

  1. Identify main regulators of the financial system
  2. Use examples to explain role of each regulator in protecting investors and consumers, and promoting confidence in the financial system
Identify main regulators of the financial system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use examples to explain role of each regulator in protecting investors and consumers, and promoting confidence in the financial system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain Australia’s monetary system

  1. Describe various functions of money and discuss society’s motivations for holding money
  2. Describe the monetary cycle in the economy and on a global scale, and instruments traded on short-term money market
  3. Explain impact of increases and decreases in money supply and importance of regulating money supply of any country
Describe various functions of money and discuss society’s motivations for holding money

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Describe the monetary cycle in the economy and on a global scale, and instruments traded on short-term money market

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain impact of increases and decreases in money supply and importance of regulating money supply of any country

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Describe what is meant by Australian financial markets

1.1 Identify specific financial markets in Australia

1.2 Describe purpose of financial markets and when they emerged in Australia

1.3 Identify participants in financial markets and discuss roles of banks and financial institutions as financial intermediaries

2. Explain function and role of Reserve Bank of Australia (RBA)

2.1 Describe role of Reserve Bank of Australia (RBA) as Australia’s central bank and contrast with other banking institutions

2.2 Explain importance and effect of RBA’s monetary policy on Australian economy and everyday consumers

3. Explain Australia’s monetary system

3.1 Describe various functions of money and discuss society’s motivations for holding money

3.2 Describe the monetary cycle in the economy and on a global scale, and instruments traded on short-term money market

3.3 Explain impact of increases and decreases in money supply and importance of regulating money supply of any country

4. Explain key factors that influence the Australian economy

4.1 Describe role and impact of Commonwealth and state government actions on the economy with reference to current events and issues

4.2 Explain impact of change in domestic interest rates on different sectors of the economy

4.3 Discuss impact of changes in consumer activity on the Australian economy

5. Describe role of regulators

5.1 Identify main regulators of the financial system

5.2 Use examples to explain role of each regulator in protecting investors and consumers, and promoting confidence in the financial system

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Describe what is meant by Australian financial markets

1.1 Identify specific financial markets in Australia

1.2 Describe purpose of financial markets and when they emerged in Australia

1.3 Identify participants in financial markets and discuss roles of banks and financial institutions as financial intermediaries

2. Explain function and role of Reserve Bank of Australia (RBA)

2.1 Describe role of Reserve Bank of Australia (RBA) as Australia’s central bank and contrast with other banking institutions

2.2 Explain importance and effect of RBA’s monetary policy on Australian economy and everyday consumers

3. Explain Australia’s monetary system

3.1 Describe various functions of money and discuss society’s motivations for holding money

3.2 Describe the monetary cycle in the economy and on a global scale, and instruments traded on short-term money market

3.3 Explain impact of increases and decreases in money supply and importance of regulating money supply of any country

4. Explain key factors that influence the Australian economy

4.1 Describe role and impact of Commonwealth and state government actions on the economy with reference to current events and issues

4.2 Explain impact of change in domestic interest rates on different sectors of the economy

4.3 Discuss impact of changes in consumer activity on the Australian economy

5. Describe role of regulators

5.1 Identify main regulators of the financial system

5.2 Use examples to explain role of each regulator in protecting investors and consumers, and promoting confidence in the financial system

Evidence of the ability to:

clearly explain the features and roles of the participants in the Australian financial system and markets.

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:

identify and describe relevant and current issues relating to the Australian financial system and markets, and the economic environment

list the different types of financial markets in Australia

explain the purpose of financial markets

describe the role of the Reserve Bank of Australia (RBA) and its monetary policy

list the main regulators and describe their roles

describe the different functions of money

describe the key functions of money

list instruments traded on the short-term money market

list different types of consumer activity in the financial system/markets.