FNS4081 Certificate IV in Finance and Mortgage Broking

FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 2 © Copyright 2020 The National Finance Institute V.010920 EXERCISE 4 TASK Total marks possible 50 Please answer the questions below. You should write or type your answers into a separate document. Please name your document file with “Your Name” and “Exercise 4”. You must provide an answer to each question. In some cases we will give you a reference to the unit in which you will find the information you require. In some cases you may need to rely on your understanding from what you have learned from the overall course content, or undertake a search on the internet. The questions will also be used to assess your language and literacy skills. The assessor will check all your exercises and assignments to ensure – that they are accurate with correct grammar and punctuation – that they are appropriate to the target audience. – that they show planning and organisational skills. – that they demonstrate your ability to search for products and service information and use problem solving approaches to identify customer needs and expectations. QUESTIONS 1. List at least 5 points that are important to ensure communication delivers on customer needs, expectations and priorities. (5 marks) 2. It is important that staff should deliver an outstanding customer experience at all times. What are the specific behavioural competencies that this requires and how would this be measured? (5 marks) 3. Using information provided in Unit 2, it is important that an organisation continually improves. Explain at least 5 ways that an organisation may collect information to facilitate this? (3 marks) 4. There are laws and legislation that regulate the way businesses may provide service to a client. A) Name some of these legislations B) Why is this important and C) What is your responsibility? (3 marks) FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 3 © Copyright 2020 The National Finance Institute V.010920 5. Write a guide regarding customer service that you would use, as a mortgage broker, to look after a customer. You may wish to write it with a new staff member in mind that you want to train to high standards. Your guide should be a minimum of 3 typed pages and must include the following points: (5 marks). • Identify and clarify customer needs and expectations • Assess the urgency of the request • Determine priorities for service delivery • Inform the customer of possible choices • Assist in the selection of the preferred option • Address what action you would take if you were unable to satisfy the customer need • Seek appropriate assistance where appropriate • Provide prompt service to customers • Establish and maintain rapport with customers • What action might be taken if there was a complaint • Provide assistance should there be a specific need • Propose cross-selling opportunities that may be apparent • Seek customer feedback • Review customer satisfaction • Use feedback to improve customer service 6. Detail at least 2 recommendations on how you could improve and monitor your service delivery to prospective customers. (2 marks) 7. Using information in Unit 11, before a mortgage broker attempts to handle a client’s concerns they must first determine what kind of concern they are dealing with. There are three common types of concerns. List the three and provide a brief explanation of each one. (1 mark) 8. Using information in Unit 12, there are four main personality types a mortgage broker may have to deal with. List the four types and provide a brief description of each. (1 mark) 9. Using information in Unit 12, there is a five point plan to successfully establishing networking, list the five prescribed methods. (1 mark) 10. Using information in Unit 4: A) List four different sectors of the financial services industry; and B) Describe how they interrelate using internet research if necessary. (4 marks) 11. Name five things you can think of that may make your current or future business more environmentally sustainable. The business can be your own or the business you will, or would like to, be working for. (3 marks) 12. List 10 documents required for an ACL application. You may need to refer to the Appendix 10. (3 marks) FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 4 © Copyright 2020 The National Finance Institute V.010920 13. Visit four different bank’s websites, list one loan product from each website, and list the key features of each of those products (4 marks) 14. Using the steps provided in Unit 9 Practice Activity 1 ‘Calculating Borrowing Capacity’, determine what this client can borrow, at an interest rate of 4.5%, qualifying rate of 7%, a loan period of 25 years, on salaries of Mr X $105,000 gross per annum and Mrs X $47,000 gross per annum, they have two children. They have credit cards of $10,000 limit and a personal loan of $25,000 at repayments of $600 per month. (6 marks) TIPS: – You should use the tax schedules provided in Appendix B16 – Your living expenses should be taken from the table provided on the NSR sheet Appendix B18 – You do not need to include any “family allowance” payments – Do include your calculations for us as we will then try to understand whether your final result has been achieved correctly 15. Employability Skills The topics below refer to the basic employability skills you need in order to carry out the duties of a finance broker. Not all the competencies listed below may directly relate to the topics within the course units so you need to think about each topic rather than look for answers in the course itself. You are required to complete a short statement on each employability skill below to demonstrate how you believe each employability skill will reflect on your employability. (4 marks – 0.5 for each point completed) □COMMUNICATIO

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