UNIT
Release 1 | This version first released with FNS Financial Services Training Package Version 1.0. |
This unit describes the skills and knowledge required to analyse client needs and provide advice ethically and professionally in life insurance, in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.
It applies to individuals who use well-developed interpersonal skills and excellent communication and self-management skills to perform a specialist advisory role in life insurance.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or ASIC for specific guidance on requirements.
FNSINC501 | Conduct product research to support recommendations |
FNSIAD501 | Provide appropriate services, advice and products to clients |
FNSCUS505 | Determine client requirements and expectations |
FNSCUS506 | Record and implement client instructions |
ASIC units
FNSASICX503 Provide advice in life insurance | FNSASICX503A Provide advice in life insurance | Updated to meet Standards for Training Packages | Equivalent unit |
Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe
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