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FNS40815 Certificate IV in Finance and Mortgage Broking

 

FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector  
Unit Description This unit describes the skills and knowledge required to develop and maintain an in-depth knowledge of the financial products and services provided by an organisation, or those an organisation uses, and how they may be applied to client needs.
 
Learning Outcomes By the end of this unit, students will be able to:

  • Identify products and services organisation uses
  • Identify compliance implications of product
  • Determine appropriate users for products and services
  • Maintain product knowledge

 

Activity 1

Explain the role of an intermediary in the Australian financial services market. Provide illustrative examples.

Activity 1 Answer

 

 

Activity 2

Explain some of the differences between private banking and wealth management.

Activity 2 Answer

 

 

Activity 3

What types of risk assessment should a Financial Service Provider (FSP) perform on a client who is seeking to obtain a new credit card?

Activity 3 Answer

 

 

Activity 4

Identify and explain some examples of a client’s personal circumstances that may assist a FSP to assess the suitability of the client for a product or service.

Activity 4 Answer

 

 

Activity 5

What are PCI compliance ‘levels’ and how are they determined?

Activity 5 Answer

 

 

Activity 6

How are personal credit scores calculated?

Activity 6 Answer

 

 

Activity 7

Why should consumers approach 0% credit card balance transfer offers cautiously?

Activity 7 Answer

 

 

Activity 8

Banks need to transform into ‘customer centric’ operations. Discuss.

Activity 8 Answer

 

 

 

Reference ID: #getanswers2001046