NTISthis.com

Evidence Guide: FNSFMK601 - Price financial transactions

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

 

FNSFMK601 - Price financial transactions

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

Compile and analyse financial information and data

  1. Identify sources of financial data relating to financial products and financial markets for analysis purposes and collect according to organisational practices
  2. Analyse financial data using standard financial market investment concepts to evaluate current market position and review this data against selected financial products
Identify sources of financial data relating to financial products and financial markets for analysis purposes and collect according to organisational practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse financial data using standard financial market investment concepts to evaluate current market position and review this data against selected financial products

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate transaction price

  1. Formulate financial transaction price using standard organisational practices and taking into account a range of organisational price impacts
  2. Review price calculated against client requirements and adjust as required
  3. Advise client of financial transaction price in accordance with organisational guidelines
Formulate financial transaction price using standard organisational practices and taking into account a range of organisational price impacts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review price calculated against client requirements and adjust as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise client of financial transaction price in accordance with organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record financial transaction

  1. Confirm client acceptance of financial transaction price according to organisation requirements and complete relevant transaction documentation as necessary
  2. Enter all transaction details into organisation’s dealing systems
  3. Report details of transaction to authorised trade repository where required by regulation
Confirm client acceptance of financial transaction price according to organisation requirements and complete relevant transaction documentation as necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Enter all transaction details into organisation’s dealing systems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report details of transaction to authorised trade repository where required by regulation

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. Compile and analyse financial information and data

1.1 Identify sources of financial data relating to financial products and financial markets for analysis purposes and collect according to organisational practices

1.2 Analyse financial data using standard financial market investment concepts to evaluate current market position and review this data against selected financial products

2. Calculate transaction price

2.1 Formulate financial transaction price using standard organisational practices and taking into account a range of organisational price impacts

2.2 Review price calculated against client requirements and adjust as required

2.3 Advise client of financial transaction price in accordance with organisational guidelines

3. Record financial transaction

3.1 Confirm client acceptance of financial transaction price according to organisation requirements and complete relevant transaction documentation as necessary

3.2 Enter all transaction details into organisation’s dealing systems

3.3 Report details of transaction to authorised trade repository where required by regulation

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. Compile and analyse financial information and data

1.1 Identify sources of financial data relating to financial products and financial markets for analysis purposes and collect according to organisational practices

1.2 Analyse financial data using standard financial market investment concepts to evaluate current market position and review this data against selected financial products

2. Calculate transaction price

2.1 Formulate financial transaction price using standard organisational practices and taking into account a range of organisational price impacts

2.2 Review price calculated against client requirements and adjust as required

2.3 Advise client of financial transaction price in accordance with organisational guidelines

3. Record financial transaction

3.1 Confirm client acceptance of financial transaction price according to organisation requirements and complete relevant transaction documentation as necessary

3.2 Enter all transaction details into organisation’s dealing systems

3.3 Report details of transaction to authorised trade repository where required by regulation

Evidence of the ability to:

compile financial information and data, and analyse to determine price impacts

calculate financial prices

record financial transactions.

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:

compare and contrast the range of financial market products that can be traded

assess the impact of the following key economic features on pricing financial products:

economic and business cycles

monetary and fiscal policies

interest rates, exchange rates and inflation

describe key features of financial markets operating software systems

analyse and discuss issues relating to risk and implications of financial positions

describe relevant mathematical principles and methodologies for pricing financial products and transactions.