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Question # Question Detail



Describe how you gather the information required to establish a client’s special financial circumstances?


In answering this question, you should refer to: Explanation of the services provided to the client Listening and questioning techniques you employ

Your use of language appropriate to any cultural differences

Your interpersonal skills and how you would deal with any emotive issues sensitively

Your ability to build/establish rapport Your professionalism

Your communication skills

Your provision of appropriate contact with client throughout the complex broking process





Describe how you record and document your interaction with clients?


In answering this question, you must refer to:

Templates used to gather information in initial interview Diarising or recording telephone conversations

Procedures that are established for critical implementation, timing and priorities

The documentation gathered

Any technology used to record or gather information. How you access and use appropriate specialist software, organisational templates, spreadsheets and databases

How your recommendations and loan structures, as presented to clients, are documented according to organisation guidelines and procedures




Describe how you research and identify complex credit options based on the clients’ special financial circumstances?


In answering this question, you must refer to:

How special or complex features of a client’s situation and objectives are discussed, reviewed and clarified

The analysis of the client situation to determine opportunities and constraints

Research into loan structures or options including those which are new or non-standard

Consideration of financial issues in terms of economic, legislation, taxation, legal, insurance

In what conditions would the broker need to refer clients to a specialist advisor (eg. financial advisor or accountant)

How possible loan structure or options are analysed, modelled, prioritised and measured

The process used to reject inappropriate options including checks to ensure compliance with relevant Acts

Assessment of options to successfully achieve the client’s objectives

How you liaise with others, share information, listen and understand.





Describe and/or provide evidence of how you identify, assess and manage risk when dealing with clients with complex loan requirements?


In answering this question, you must consider:

Risk evaluation criteria eg. undertaking risk categorisation and determining the level of risk

Risk assessment tools (eg. valuation practices)

Communication of the aspects of the valuation result/s to clients

Discussion on the issues around an adverse valuation

Establishment of the probability of risk including the severity and/or impact

Identification of stakeholders and how throughout the loan process

o   you seek their views

o   provide pertinent risk information – clearly describe risks

o   recommend amendments to existing controls and report any need for new controls

How would you as a professional in the industry ensure that you comply with industry and government requirements and professional codes of practice?

How would you read and interpret organisational and industry information?




A)  Prior to presenting the loan option to the client, did you identify any concerns that the client may raise?

B)  What preparation was completed to respond to these concerns?



Research/documentation materials Alternative recommendations Regulatory limits and financier guidelines

In your answer to both A) and B) questions, you should also refer to your ability to:

Identify and respond appropriately to client concerns

Exercise restraint when dealing with clients in conflict situations The process used to gain agreement to proceed from the client.





Describe how you would present lender options to a client, including why you chose that option or options and why you chose a particular lender.


TIP – to answer this question, you may search online and choose a lender and loan product and answer this as a (written) role play.


In answering this question, you must consider how you guide the client through options including:

Discussion of impact – advantages, disadvantages, risks and financial implications

Fees charges and commissions inclusive of any fees paid by the lender directly to the broker

How would you explain to the client the lender conditions as they comply with relevant legislation, regulatory guidelines, industry sector compliance requirements and the lender’s policy?

Research and documentation provided to the client Consultation required with other financial services professionals (eg. accountants, lawyers, financial planners, valuers, etc.)

Confirmation that the client understands the options presented and any concerns are addressed

Providing information on complaints resolution procedures (internal and external) as included in the information provided to the client.


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