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FNS40815_ FNSINC402 Assessment 3 Answers
| 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:
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Activity 1
Explain the role of an intermediary in the Australian financial services market. Provide illustrative examples.
Activity 1 Answer
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Activity 2
Explain some of the differences between private banking and wealth management.
Activity 2 Answer
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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
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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
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Activity 5
What are PCI compliance ‘levels’ and how are they determined?
Activity 5 Answer
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Activity 6
How are personal credit scores calculated?
Activity 6 Answer
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Activity 7
Why should consumers approach 0% credit card balance transfer offers cautiously?
Activity 7 Answer
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Activity 8
Banks need to transform into ‘customer centric’ operations. Discuss.
Activity 8 Answer
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