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Evidence Guide: FNSIBK405 - Meet industry and legislative guidelines and organisational procedures relating to insurance broking

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

 

FNSIBK405 - Meet industry and legislative guidelines and organisational procedures relating to insurance broking

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

Manage information

  1. Collect and analyse information on relevant legislation, regulations and codes of practice and other relevant industry guidelines and standards
  2. Maintain and observe an up-to-date checklist of legislative and regulatory operational requirements
  3. Update reference material on a regular basis as amendments to legislative and regulatory requirements occur
Collect and analyse information on relevant legislation, regulations and codes of practice and other relevant industry guidelines and standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain and observe an up-to-date checklist of legislative and regulatory operational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update reference material on a regular basis as amendments to legislative and regulatory requirements occur

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply professional work practices

  1. Clarify and refine work practices regularly in light of up-to-date information on relevant legislation, regulations and codes of practice
  2. Apply knowledge of organisational philosophy, values, standards and objectives to work practices
  3. Use relevant codes of practice to guide an ethical approach to workplace practice and decisions
  4. Obtain assistance from appropriate personnel to clarify work practices and obtain relevant information whenever necessary
Clarify and refine work practices regularly in light of up-to-date information on relevant legislation, regulations and codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply knowledge of organisational philosophy, values, standards and objectives to work practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use relevant codes of practice to guide an ethical approach to workplace practice and decisions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain assistance from appropriate personnel to clarify work practices and obtain relevant information whenever necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Meet brokerage work requirements

  1. Follow established work health and safety procedures, and contribute to eliminating work hazards and reducing risk in work environment
  2. Use information management systems and software appropriately to complete work tasks
  3. Participate in and facilitate work team activities
  4. Plan work to be completed taking into consideration time, resources and other constraints
  5. Develop and maintain personal competency in job role
  6. Apply sustainability principles to work practices in accordance with organisational policy
Follow established work health and safety procedures, and contribute to eliminating work hazards and reducing risk in work environment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use information management systems and software appropriately to complete work tasks

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Participate in and facilitate work team activities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan work to be completed taking into consideration time, resources and other constraints

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and maintain personal competency in job role

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply sustainability principles to work practices in accordance with organisational policy

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. Manage information

1.1 Collect and analyse information on relevant legislation, regulations and codes of practice and other relevant industry guidelines and standards

1.2 Maintain and observe an up-to-date checklist of legislative and regulatory operational requirements

1.3 Update reference material on a regular basis as amendments to legislative and regulatory requirements occur

2. Apply professional work practices

2.1 Clarify and refine work practices regularly in light of up-to-date information on relevant legislation, regulations and codes of practice

2.2 Apply knowledge of organisational philosophy, values, standards and objectives to work practices

2.3 Use relevant codes of practice to guide an ethical approach to workplace practice and decisions

2.4 Obtain assistance from appropriate personnel to clarify work practices and obtain relevant information whenever necessary

3. Meet brokerage work requirements

3.1 Follow established work health and safety procedures, and contribute to eliminating work hazards and reducing risk in work environment

3.2 Use information management systems and software appropriately to complete work tasks

3.3 Participate in and facilitate work team activities

3.4 Plan work to be completed taking into consideration time, resources and other constraints

3.5 Develop and maintain personal competency in job role

3.6 Apply sustainability principles to work practices in accordance with organisational policy

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. Manage information

1.1 Collect and analyse information on relevant legislation, regulations and codes of practice and other relevant industry guidelines and standards

1.2 Maintain and observe an up-to-date checklist of legislative and regulatory operational requirements

1.3 Update reference material on a regular basis as amendments to legislative and regulatory requirements occur

2. Apply professional work practices

2.1 Clarify and refine work practices regularly in light of up-to-date information on relevant legislation, regulations and codes of practice

2.2 Apply knowledge of organisational philosophy, values, standards and objectives to work practices

2.3 Use relevant codes of practice to guide an ethical approach to workplace practice and decisions

2.4 Obtain assistance from appropriate personnel to clarify work practices and obtain relevant information whenever necessary

3. Meet brokerage work requirements

3.1 Follow established work health and safety procedures, and contribute to eliminating work hazards and reducing risk in work environment

3.2 Use information management systems and software appropriately to complete work tasks

3.3 Participate in and facilitate work team activities

3.4 Plan work to be completed taking into consideration time, resources and other constraints

3.5 Develop and maintain personal competency in job role

3.6 Apply sustainability principles to work practices in accordance with organisational policy

Evidence of the ability to:

follow operational procedures to meet compliance requirements in line with financial services industry regulations and other legislation

interpret and comply with organisational policy and procedures, relevant legislation and insurance broking codes of practice

consult appropriate personnel for guidance and advice when necessary

review training needs and professional development opportunities to perform tasks in line with industry standards and requirements.

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:

briefly outline the history of insurance and insurance broking to explain current practices

explain the roles and responsibilities of an insurance broker and the different sectors including underwriters, loss adjusters, risk surveyors and risk managers

describe the application of legislation, regulations and codes of practice, including work health and safety, to the broking role

explain organisational brokerage policy and procedures and their role in compliance

describe the main sectors of the industry and their interrelationships

outline how external industry factors are assessed to determine impact on the compliance procedures

outline the application in the broking role of accepted codes of practice and conduct, including those related to:

maintaining confidentiality

use of company property

duty of care

ethical behaviours

non-discriminatory practices

conflict of interest

compliance with reasonable direction

appropriate dress and hygiene codes, and business etiquette.