Diploma of Finance and Mortgage
Broking Management
Course 10732
FNS50311



Develop, Present, Negotiate Client Solutions
FNSASIC302C

All elements of this unit are covered by this assessment



Name:




This unit is UNGRADED and will be recorded as competent/not yet competent on your official transcript

To be assessed as competent in this section of the unit you must achieve 80% overall competency

ALL questions to be attempted

I accept by uploading this assessment that I am certifying that this is entirely my own work, except where I have given fully documented references to the work of others, and that the content of this assessment has not previously been submitted for assessment in any formal course of study.

Note: Copying information directly from the course notes is plagiarism unless it is properly referenced. In addition it is not a competent answer unless an explanation in your own words is also provided to demonstrate your understanding.


Question 1

Sam is a new mortgage broker with your firm, explain to him in your own words his four responsibilities when developing and presenting strategies to his customers.


Question 2
Explain the difference between generic and specialist knowledge. Give three examples of each and explain why it is important to know the difference between the two.

Question 3

What are the roles performed by both APRA & ASIC in relation to Insurance Markets?

Question 4
Name and describe two categories of general insurance products from those discussed in this unit.
Question 5
Darren is a mortgage broker with Tier 2 qualifications and is assisting Samantha to complete her home and buildings insurance application. What two principles covered by the Insurance Contracts Act does Samantha need to consider?
Question 6
Adam has an appointment with Rachel who is an authorised Tier 1 representative from Thistown Brokers to discuss possible options for future investments products and life insurance.
Required
Name and describe the documentation under the FSRA Rachel would have to provide to Adam
a. Prior to Rachel offering Adam any form of service

b. Which outlines the features of the products to be discussed
Question 7
List four circumstances when a Duty of Disclosure does not apply under an insurance
contract.
Question 8
Please answer the following multiple choice questions in the table provided. Please choose the most appropriate answer.
1. When dealing with client objections you should:
a. Ignore it and move on
b. Use it as a way of explaining your product further
c. Tell them not to worry it will be alright
d. Deal with it later

2. Closing a sale involves
a. Getting the customers agreement to a solution
b. Gaining their signature on the contract
c. Making a recommendation to the client
d. All of the above

3. When advising a client of a timeframe for approval it is best to:
a. Over estimate the time involved to avoid disappointment
b. Underestimate the time involved to avoid disappointment
c. Give no timeframe at all
d. b and c

4. Ongoing service requirements involve:
a. Processing transactions
b. Satisfying and resolving ongoing enquiries for additional information
c. Providing new products or services
d. All of the above