|ASIC Tier 2 Compliance Program (FNS04)|
|Students who successfully complete the training program and assessments will obtain a nationally recognised Statement of Attainment from FNS30107 Certificate III in Financial Services. The two units contained within the Statement of Attainment are the ASIC advisory compliant units: FNSASIC301B Establish client relationship and analyse needs and FNSASIC302B Develop present and negotiate client solutions.|
|FNSASIC301B Establish client relationship and analyse needs
FNSASIC302B Develop present and negotiate client solutions
Award Given at Completion
|Statement of Attainment from FNS30107 Certificate III in Financial Services for the 2 ASIC compliant units contained in the qualification|
|General Insurance, Deposit Products and Non-Cash Payments, Generic Knowledge, Skills|
Where Course Delivered
|Distance, Offsite training room, One-on-one supervised, On-the-job, Self-paced, Face-to-face|
|Examination - closed book, Case study, Work place observation, Other - Case study, presentation, research projects are designed to assess participants’ skills in the simulated workplace environment. These techniques are used for those participants do not have access to financial services workplace. Examination, workplace observation, work based project are designed to assess participants’ skills who already have access to financial services workplace.|
This course is no longer being offered
|Lan Nguyen, Compliance Manager|
|Financial products: FNSASIC301B|
The aim of this training session is to teach you about financial products and services. You will learn about:
• What is a financial product?
• What financial products are and are not covered by the Financial services reform act (FSRA)
• Financial investment products
• Financial risk products
• Non-cash payment products
Financial advising: FNSASIC301B
The Financial Services Reform Act (FSRA) aims to regulate the way in which financial organisations and their employees provide financial product advice.
In this training session you will learn about:
• The participants in the advisory services market
• What advice is in the context of the FSRA, including:
• The difference between providing factual information and financial product advice
• The difference between providing general and personal advice
• The customer service role and advising
• Which disclosure documents need to be provided to customers when providing advice or issuing a financial product or service
• The types of financial advice services available.
Code of banking practice: FNSASIC301B
This training session provides you with an introduction to the revised Code of Banking Practice. Upon completion of this training session, you should be able to describe the three sections of the Code of Banking Practice that impact the way you undertake your daily duties:
• Principles of conduct
• Resolution of disputes, monitoring and sanctions.
Relationships and needs: FNSASIC301B
The aim of this training session is to teach you about the skills required to establish a relationship with your customer and to identify and assess their needs. Upon completion of the training session, you should be able to:
• Use questioning techniques to gather information about a customer's needs
• Identify verbal and non-verbal expressions that may indicate how a customer is responding to the information you are providing
• Analyse or assess customer information to ensure you are providing advice in accordance with your customer's needs
• Explain your responsibilities to customers including the appropriate avenues of complaint when required.
Rapport building: FNSASIC301B
In this training session you will learn how to build rapport with customers and gather the information you need.
Privacy act and principles: FNSASIC301B
The privacy laws regulate how personal information must be collected, used and secured by the federal government and many private sector organisations, including financial institutions. Given the high value we place on our customers' privacy rights, it is extremely important that everyone at Financial Services organisation has an accurate understanding of what the privacy laws entail. Upon completion of this training session, you should be able to:
• Describe the purpose of the Privacy Act, the National Privacy Principles (NPP's) and the different types of information you deal in
• Describe the application of the NPP's in the workplace
• Describe our banker's duty of confidentiality
Economic Environment: FNSASIC301B
In this training session students will learn about:
• The Global economy
• Australia’s place in the global economy
• Australian economic issues
• Australian economic policies and management
Client account basics: FNSASIC302B
This course defines how basic banking accounts work and what to expect from an administrative point of view. It defines terms and concepts and explains some basic forms. You will learn about:
• basic terminology
• concepts underpinning banking transactions
• core issues underpinning client queries on savings, cheque and credit accounts
Basic deposit products: FNSASIC302B
This session is designed to help you understand the essential features of a "basic deposit product". The term "basic deposit product" comes from the Financial Services Reform Act (FSRA). A range of products falls under the Act's definition of a basic deposit product including:
• transaction accounts
• savings accounts and
• investment accounts
Fixed term deposit products: FNSASIC302B
This session is designed to help you understand the essential features of fixed term deposits. Fixed term investments enable customers to lock funds away for a term of their choice and receive an agreed, fixed return on their investment. You will learn:
• term deposits and
• interest bearing deposits.
Client solutions: FNSASIC302B
In this training session, you will learn the skills to develop, present, and implement financial strategies and solutions and handle objections appropriate to your customer's identified needs.The skills involved in providing customer solutions include:
• Developing and presenting strategies that identify products and services which match your customer's requirements
• Handling objections and closing the sale
• Providing effective ongoing service.
FSRA overview: FNSASIC302B
The FSRA impacts the way most frontline and many back office staff perform their jobs. It regulates the industries in which financial services organisation operates, disclosure of the products we sell and the way we interact with customers. The training session provides you with an introduction to the FSRA. It is specifically designed for staff that give advice on financial products and staff that need to be able to interact with customers without giving advice. In this session you will learn how to:
• Explain what the FSRA is and describe its objectives
• Outline how the FSRA impacts our business
Non-cash payment facilities: FNSASIC302B
As the name suggests, non-cash payment facilities cover payments that do not involve the physical exchange of currency. Examples include payments by cheque, direct debit arrangements and travellers' cheques. Non-cash payment facilities do not include credit cards, bank cheques, bank guarantees and payment systems such as E-commerce.
Trade practices legislation: FNSASIC302B
The purpose of this training session is to introduce you to the key consumer protection legislation. You need to be aware of the provisions in two pieces of legislation: the Trade Practices Act 1974 and the Australian Securities and Investment Commission (ASIC) Act 2001. These Acts regulate the behaviour of individuals and companies when it comes to providing products or services to consumers. This means that they have a direct impact on both you and your organisation. Upon completion of this session, you should be able to:
• Describe the purpose of the legislation
• Identify actions, which may breach the exclusive dealing provisions
• Identify unconscionable conduct in relation to the supply of products or services
• Identify misleading or deceptive conduct in relation to the supply of products or services
• Identify false representation in relation to the supply of products or services
• Identify harassment and coercion in connection with the supply of products or services to customers.
Insurance markets: FNSASIC302B
This training session considers the important role of insurance in Australia and the various participants and components of the Australian insurance market. In this session you will learn to:
• Identify the role of the insurance company
• Recognise the characteristics and participants of the Australian insurance market
• Recognise the roles played by insurance intermediaries
• Define general insurance products.
Insurance products: FNSASIC302B
This course defines general insurance and describes the types of general insurance products. It also explains the rules governing provision of general insurance products to customers.
By completing this module you will learn about:
• Basic terminology and concepts underpinning general insurance
• Types and characteristics of general insurance products
• Rules governing provision of general insurance products.
Insurance Contracts Act: FNSASIC302B
This session is designed to teach you about the Insurance Contracts Act 1984. This Act applies to most kinds of insurance, including motor vehicle insurance, home buildings insurance, business insurance and life insurance. Contracts that are not covered by the Act include reinsurance, health insurance, marine insurance (except pleasure craft), compulsory third party and workers compensation insurance. The Act aims to strike a fair balance between the interests of insurers and their customers (the insured). An understanding of the Act will assist you in developing work practices that help the insurer comply with its obligations under the Act and protect its interests. Upon completion of this session, you should be able to:
• Identify the types of insurance contracts covered by the Act and describe key principles that apply to these contracts
• Describe the duty of disclosure that applies to the customer and what the insurer must do in relation to it
• Identify the requirements that apply to renewals and cancellations of general insurance contracts.
|Impact Training Institute Pty Ltd|
|Compliance Manager, Lan Nguyen|