This unit has been specifically designed to, when combined with industry specified units, satisfy the skills requirements of current Australian Securities and Investment Commission (ASIC) regulation (Financial Services Reform Act) at Tier 1 (Diploma) level in the Managed Investments specialist and generic knowledge areas. The unit will be changed in accordance with relevant changes to the legislation.

This unit is a co-requisite unit that cannot be assessed or issued without first satisfying the industry specific units identified in the Evidence Guide.

This unit contains employability skills.

This unit requires the application of skills and knowledge required to provide advice in Managed Investments in accordance with ASIC regulations.

Industry Capability- ASIC Advisory Units

1.1 A range of communication and interpersonal skills are used to establish the knowledge level of client

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 2a-

1.2 Enquiries in relation to products and services are responded to by explaining the range of products and services available and their relevant fee and charging methodology

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Types of Products

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 3b

1.3 Client is informed of the role of the adviser and the licensee/principal responsible for the adviser's conduct

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See also assessment Items (Questions) Listed under Generic Knowledge Point K1.6 and under Specialist Knowledge Requirements: Legal Environment and Disclosure

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 3a

1.4 Familiarity with the procedures for complaints handling and the circumstances in which they should be engaged is demonstrated

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Managing Conflicts of Interest Q1-20

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 14

2.1 A range of communication and interpersonal skills are used to gather clients' personal, financial and business details

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 2c

2.2 Clients needs are identified by encouraging expression of their objectives and goals (short, medium and long term goals as relevant to the product)

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 2c

2.3 Product risk profile of the client is identified

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

A13s001t01l07: Risk And Return Characteristics Of Underlying Investments Q1-10

A13s001t01l08: Risk And Return Characteristics Of Different Types Of Managed Funds Q1-7

A03s001t01l00: Types Of Risk

A03s001t01l01: Mismatch Risk Q1-11

A03s001t01l02: Inflation Q1-9

A03s001t01l03: Interest Rate: Reinvestment, Market Volatility Q1-14

A03s001t01l04: Market Risk Q1-10

A03s001t01l05: Market Timing Q1-10

A03s001t01l06: Lack Of Diversification Q1-10

A03s001t01l07: Currency Q1-10

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 7a

2.4 Clients expectations of cash flow and relevant taxation obligations are obtained

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See also assessment Items (Questions) Listed under Generic Knowledge Point K1.4 and under Specialist Knowledge Requirements: Taxation

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 2c

3.1 An assessment of client needs is undertaken, utilising all information gathered and taking into account clients product expectations and specific needs

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 4a

3.2 Clients are consulted throughout the analysis for further clarification where necessary

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 5b

3.3 The need for specialist advice is analysed and/or client is referred to appropriate adviser for higher level/specialist advice if required

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 10

3.4 Product risk profile of the client is assessed and agreed

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 7a

3.5 Understanding of the ASIC identified generic and specialist knowledge relevant to the products being offered, as detailed in the Evidence Guide, is demonstrated

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

Also see all questions listed under Skills and Knowledge Requirements

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 5d

4.1 An appropriate strategy to provide for identified needs and outcomes is determined from analysis of products, client risk profile and assessment of clients' needs

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See all Assessment items (Questions) Listed below under Knowledge Requirements

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 8a

4.2 Relevant research, analysis and product modeling is conducted

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See all Assessment items (Questions) Listed below under Knowledge Requirements

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 8a

4.3 Appropriate solution (plan, policy or transaction) is drafted for presentation to client

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See all Assessment items (Questions) Listed below under Knowledge Requirements

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 6c

5.1 Product knowledge appropriate for the service or product offered is demonstrated when presenting the product

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Types of Products

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 8b

5.2 The proposed transaction is explained and discussed with the client in a clear and unambiguous way

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 9b

5.3 Relevant details, terms and conditions of product/service are reinforced to client

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Types of Products

5.4 Impacts and possible risks of the solution are disclosed in a clear and concise manner to the client

a00s102t09L09: Managed Investments: Client 10 Q -

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Types of Products

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 9b

5.5 Client is provided with written supporting documentation and guided through the key aspects of the documentation

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 9c

6.1 Concerns and/or issues the client has regarding the proposed plan/policy/transaction are discussed and clarified

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 9e

6.2 Confirmation is sought from client that they understand the proposed plan/policy/transaction

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 11b

7.1 The clients' formal agreement to the proposed plan/policy/transaction is gained

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 11 a

7.2 Associated fee and cost structures are clearly explained and confirmation of understanding gained from the client

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Types of Products

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 9a

7.3 Timeframes for execution and processing are clearly explained and confirmation of understanding gained from the client

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 9b

8.1 Proposal and all other statutory and transactional documents are completed and signed off by the client

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See also assessment Items (Questions) Listed under Generic Knowledge Point K1.6 and under Specialist Knowledge Requirements: Legal Environment and Disclosure

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 11b

8.2 Copies of appropriate documentation and the signed agreement are exchanged

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

See also assessment Items (Questions) Listed under Generic Knowledge Point K1.6 and under Specialist Knowledge Requirements: Legal Environment and Disclosure

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 11b

9.1 Type and form of ongoing service including reporting on performance and review of plan/policy/transaction is agreed with the client

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 11a

9.2 Fees and costs for ongoing and specifically defined service are clearly explained and confirmation of understanding gained from the client

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 9a

9.3 Ongoing service is provided as required.

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 12c

ability to perform completed needs analysis

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 12c

analytical skills

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

Also see all questions listed under Knowledge Requirements

presentation skills

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 6c,8b

customer negotiation skills

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 9a-e,11a, 11b

ability to analyse information and products to ensure appropriateness to client needs, currency and accuracy

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

Also see all questions listed under Knowledge Requirements

effective interpersonal and communication skills

a00S103t09L01PT: Managed Investments Test 1 Q -

a00S103t09L02PT: Managed Investments Test 2 Q -

a00S103t09L03PT: Managed Investments Test 3 Q -

All 10 assignments: a00s102t11L01-10 Managed Investments : Clients 1-10, Q 6,8

K1.1 generic knowledge about the economic environment, the characteristics and impact of economic and business cycles, including interest rates, exchange rates, inflation, and government monetary and fiscal policies

A20s000t01l01 Economics Intro, Q1-14

A20s000t01l02 Domestic Economy, Q1-28

A20s000t01l03 The World Economy, Q1-12

A20s000t01l04 Economics At The Industry Level, Q -11

K1.2 generic knowledge about the operation of financial markets, the roles played by intermediaries and issuers, structure and inter-relationships within the financial markets, and inter-relationship between industry sectors

A10s032t16l00 Markets And Securities Q1-15

a15s005t01L00 Securities, Derivatives And Futures Markets

A03s001t01l06 Lack Of Diversification Q1-10

K1.3 generic knowledge about financial products, including the concept of a financial product, general definition, specific inclusions and exclusions, types of financial investment products, types of financial risk products

a15s005t01L01 Equities

a15s005t01L03 Futures

a15s005t01L04 Options On Futures

a15s005t01L05 Warrants And Other Derivatives

a15s005t01L06 Equities Markets

a15s005t01L07 Options And Derivatives Markets

a15s005t01L08 Futures Markets

a15s005t01L09 Relationships Between Markets

a15s005t01L10 Comparing Risks

K1.4 generic knowledge about the taxation issues in relation to the products and markets in which they operate

a25s001t01L01: The Australian Taxation Systems Q1-15

a25s001t01L02: Income Tax Q1-15

a25s001t01L03: Deductions Q1-14

a25s001t01L04: Rebates Q1-15

a25s001t01L05: Goods And Services Tax Q1-30

a25s001t01L06: Fringe Benefits Tax Q1-28

a25s001t01L07: Capital Gains Tax Q1-10

a25s001t01L08: Who Pays Income Tax Q1-27

a25s001t01L09: Tax And Superannuation Contributions Q1-28

a25s001t01L10: Tax And Superannuation Benefits

a25s002t02L01: Shares Q1-30

a25s002t02L02: Real Estate Q1-30

a25s002t02L03: Interest Bearing Securities Q1-30

a25s002t02L04: Managed Investments Q1-30

a25s002t02L05: Effects Of Taxation On Financial Strategies Of Individuals And Entities Q1-30

a25s002t02L06: Salary Packaging Q1-30

a25s002t02L07: Superannuation Q1-30

a25s002t02L08: Fringe Benefits Q1-30

a25s002t02L09: Tax And Fixed Interest Markets Q1-30

a25s002t02L10: Tax And Managed Funds Q1-30

K1.5 generic knowledge about advisory functions, the role of the representative/adviser, participants in the advisory services market, range of services provided, profile and financial information of the client, appropriateness of a risk assessment

A05s031t01l00: Contracts

A05s031t01l01: Contracts Q1-10

A05s031t01l02: Types Of Contracts Q1-11

A05s031t01l03: Terms Of Contracts Q1-10

A05s031t01l04: False And Misleading Information Q1-5

A05s031t01l05: Unfair Contracts Q1-8

A05s031t01l06: Broken Contracts Q1-7

A05s033t01l00: Agency

A05s033t01l01: Principal Q1-12

A05s033t01l02: Agent Q1-9

A05s033t01l03: Creating An Agency Q1-7

A05s033t01l05: Duties Of An Agent Q1-7

A05s033t01l06: Liability Of An Agent Q1-7

A05s033t01l07: Ending An Agency Q1-8

a40s104t01L00: Compliance

a40s104t01L01: An Introduction to Compliance Q1-15

a40s104t01L02: Legislation Overview - Financial Services Reform Act 2001 Q1-20

a40s104t01L03: Legislation Overview - The Corporate Law Q1-20

a40s104t01L04: Economic Reform Program Q1-20

a40s104t01L05: The Australian Stock Exchange (ASX) Q1-20

a40s104t01L06: Regulators - ASIC Q1-20

a40s104t01L07: Regulators - APRA Q1-20

a40s104t01L08: Implementing Compliance Programs AS3806 Q1-20

a40s104t01L09: Industry Codes of Practice Q1-20

a40s104t01L10: Competency Compliance: ASIC's PS146 Q1-15

a40s104t01L11: AFS Licensing Q1-20

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Managing Conflicts of Interest Q1-20

a40s104t01L16: Financial Requirements Q1-19

a40s104t01L17: Authorised Representatives Q1-19

a40s104t01L18: Responsible officers Q1-19

a40s104t01L19: Breach Reporting Q1-20

a40S105t01L01: What is money laundering Q1-10

a40S105t01L02: Existing Laws and the need for change Q1-10

a40S105t01L03: Introduction to the new laws Q1-10

a40S105t01L04: The effect of the new laws Q1-20

a40S105t01L05: Anti-money laundering and counter terrorism financing programs Q1-20

a40S105t01L06: Application of the new laws Q1-20

a40S105t01L07: Verification of the identity of an existing customer Q1-15

a40S105t01L08: Reporting obligations Q1-20

a40S105t01L09: Reporting obligations 2 - transactions and funds transfers Q1-20

a40S105t01L10: Reporting obligations 3 - Compliance reports Q1-15

a40S105t01L11: Electronic Funds Transfer Instructions 1 - Key Concepts Q1-30

a40S105t01L12: Electronic Funds Transfer Instructions 2 - Obligations And Exceptions Q1-30

a40S105t01L13: Record-keeping Requirements Q1-30

K1.6 generic knowledge about the legal environment and disclosure and compliance, the role of the representative/adviser, relevant legal principles (e.g. Corporations Act, Financial Services Reform Act (FSRA), Trade Practices Act etc.), the relationship between ethics and regulatory requirements (e.g. good faith, utmost good faith, full disclosure of remuneration/fees and any other conflicts of interest which may influence the adviser's recommendation)

A05s031t01l00: Contracts

A05s031t01l01: Contracts Q1-10

A05s031t01l02: Types Of Contracts Q1-11

A05s031t01l03: Terms Of Contracts Q1-10

A05s031t01l04: False And Misleading Information Q1-5

A05s031t01l05: Unfair Contracts Q1-8

A05s031t01l06: Broken Contracts Q1-7

A05s033t01l00: Agency

A05s033t01l01: Principal Q1-12

A05s033t01l02: Agent Q1-9

A05s033t01l03: Creating An Agency Q1-7

A05s033t01l05: Duties Of An Agent Q1-7

A05s033t01l06: Liability Of An Agent Q1-7

A05s033t01l07: Ending An Agency Q1-8

K1.7 knowledge of relevant industry codes of practice and conduct

a40s104t01L09: Industry Codes of Practice Q1-20

K1.8 knowledge of complaints resolution procedures (internal and external)

a40s104t01L14: Dispute resolution Q1-20

K1.9 knowledge of regulators guidelines including the requirements of ASIC policy statement 146

a40s104t01L00: Compliance

a40s104t01L01: An Introduction to Compliance Q1-15

a40s104t01L02: Legislation Overview - Financial Services Reform Act 2001 Q1-20

a40s104t01L03: Legislation Overview - The Corporate Law Q1-20

a40s104t01L04: Economic Reform Program Q1-20

a40s104t01L05: The Australian Stock Exchange (ASX) Q1-20

a40s104t01L06: Regulators - ASIC Q1-20

a40s104t01L07: Regulators - APRA Q1-20

a40s104t01L08: Implementing Compliance Programs AS3806 Q1-20

a40s104t01L09: Industry Codes of Practice Q1-20

a40s104t01L10: Competency Compliance: ASIC's PS146 Q1-15

a40s104t01L11: AFS Licensing Q1-20

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Managing Conflicts of Interest Q1-20

a40s104t01L16: Financial Requirements Q1-19

a40s104t01L17: Authorised Representatives Q1-19

a40s104t01L18: Responsible officers Q1-19

a40s104t01L19: Breach Reporting Q1-20

a40S105t01L01: What is money laundering Q1-10

a40S105t01L02: Existing Laws and the need for change Q1-10

a40S105t01L03: Introduction to the new laws Q1-10

a40S105t01L04: The effect of the new laws Q1-20

a40S105t01L05: Anti-money laundering and counter terrorism financing programs Q1-20

a40S105t01L06: Application of the new laws Q1-20

a40S105t01L07: Verification of the identity of an existing customer Q1-15

a40S105t01L08: Reporting obligations Q1-20

a40S105t01L09: Reporting obligations 2 - transactions and funds transfers Q1-20

a40S105t01L10: Reporting obligations 3 - Compliance reports Q1-15

a40S105t01L11: Electronic Funds Transfer Instructions 1 - Key Concepts Q1-30

a40S105t01L12: Electronic Funds Transfer Instructions 2 - Obligations And Exceptions Q1-30

a40S105t01L13: Record-keeping Requirements Q1-30

K2.1 concept of managed investments

A13s001t01l00: Managed Funds

A13s001t01l01: What Is A Managed Investment Q1-10

A13s001t01l02: Advantages And Disadvantages Of Managed Investments Q1-10

A13s001t01l03: Regulatory Environment Q1-10

A13s001t01l04: Types Of Managed Investments Q1-10

A13s001t01l05: Fee Structures Q1-10

A13s001t01l06: Tax And Social Security Implications of managed funds Q1-10

K2.3 specialist knowledge of the range of products offered under managed investment schemes, or a specific product offered under a scheme:

A13s001t02l00: Unit Trusts

A13s001t02l01: Equity Trusts Q1-13

A13s001t02l02: Cash Management Trusts Q1-13

A13s001t02l03: Property Trusts Q1-9

A13s001t02l04: Mortgage Trusts Q1-10

A13s001t02l05: Public Securities (Fixed Interest Trusts) Q1-9

K2.4 property trusts, real estate investment strategies, valuation techniques, property management

A13s001t03l00: Property Trusts;

A13s001t03l01: Concepts Of Collective Rights Q1-10

A13s001t03l02: Real Estate Investment Strategies; Q1-10

A13s001t03l03: Valuation Techniques; Q1-10

A13s001t03l04: Property Management Q1-10

A13s001t03l05: Regulatory And Legal Obligations Q1-10

A13s001t03l06: Taxation Implications Q1-10

K2.5 equity trusts, fixed interest trusts

a13s001t04L00: Other Managed Funds

a13s001t04L01: Equity Trusts, Q1-10

a13s001t04L02: Fixed Interest Trusts Q1-10

K2.6 serviced strata schemes

a13s001t04L03: Serviced Strata Schemes Q1-10

K2.7 primary production schemes

a13s001t04L04: Primary Production Schemes Q1-10

film schemes

a13s001t04L05: Film Schemes Q1-10

time-sharing schemes

a13s001t04L06: Time-sharing Schemes Q1-10

identification of types of risks

A13s001t01l07: Risk And Return Characteristics Of Underlying Investments Q1-10

A13s001t01l08: Risk And Return Characteristics Of Different Types Of Managed Funds Q1-7

A03s001t01l00: Types Of Risk

A03s001t01l01: Mismatch Risk Q1-11

A03s001t01l02: Inflation Q1-9

A03s001t01l03: Interest Rate: Reinvestment, Market Volatility Q1-14

A03s001t01l04: Market Risk Q1-10

A03s001t01l05: Market Timing Q1-10

A03s001t01l06: Lack Of Diversification Q1-10

A03s001t01l07: Currency Q1-10

awareness of relevant taxation issues

a25s002t02L01: Shares Q1-30

a25s002t02L02: Real Estate Q1-30

a25s002t02L03: Interest Bearing Securities Q1-30

a25s002t02L04: Managed Investments Q1-30

a25s002t02L05: Effects Of Taxation On Financial Strategies Of Individuals And Entities Q1-30

a25s002t02L06: Salary Packaging Q1-30

a25s002t02L07: Superannuation Q1-30

a25s002t02L08: Fringe Benefits Q1-30

a25s002t02L09: Tax And Fixed Interest Markets Q1-30

a25s002t02L10: Tax And Managed Funds Q1-30

A13s001t01l06: Tax And Social Security Implications of managed funds Q1-10

the role of the representative/adviser

a40s104t01L10: Competency Compliance: ASIC's PS146 Q1-15

a40s104t01L11: AFS Licensing Q1-20

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Managing Conflicts of Interest Q1-20

a40s104t01L17: Authorised Representatives Q1-19

A03s001t01l01: Mismatch Risk Q1-11

relevant legal principles (e.g. Corporations Act, ASIC Act, Privacy Amendment (Private Sector) Act)

a40s104t01L00: Compliance

a40s104t01L01: An Introduction to Compliance Q1-15

a40s104t01L02: Legislation Overview - Financial Services Reform Act 2001 Q1-20

a40s104t01L03: Legislation Overview - The Corporate Law Q1-20

a40s104t01L04: Economic Reform Program Q1-20

a40s104t01L05: The Australian Stock Exchange (ASX) Q1-20

a40s104t01L06: Regulators - ASIC Q1-20

a40s104t01L07: Regulators - APRA Q1-20

a40s104t01L08: Implementing Compliance Programs AS3806 Q1-20

a40s104t01L10: Competency Compliance: ASIC's PS146 Q1-15

a40s104t01L11: AFS Licensing Q1-20

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L16: Financial Requirements Q1-19

a40s104t01L17: Authorised Representatives Q1-19

a40s104t01L18: Responsible officers Q1-19

a40s104t01L19: Breach Reporting Q1-20

A05s031t01l00: Contracts

A05s031t01l01: Contracts Q1-10

A05s031t01l02: Types Of Contracts Q1-11

A05s031t01l03: Terms Of Contracts Q1-10

A05s031t01l04: False And Misleading Information Q1-5

A05s031t01l05: Unfair Contracts Q1-8

A05s031t01l06: Broken Contracts Q1-7

A05s033t01l00: Agency

A05s033t01l01: Principal Q1-12

A05s033t01l02: Agent Q1-9

A05s033t01l03: Creating An Agency Q1-7

A05s033t01l05: Duties Of An Agent Q1-7

A05s033t01l06: Liability Of An Agent Q1-7

A05s033t01l07: Ending An Agency Q1-8

a40S105t01L01: What is money laundering Q1-10

a40S105t01L02: Existing Laws and the need for change Q1-10

a40S105t01L03: Introduction to the new laws Q1-10

a40S105t01L04: The effect of the new laws Q1-20

a40S105t01L05: Anti-money laundering and counter terrorism financing programs Q1-20

a40S105t01L06: Application of the new laws Q1-20

a40S105t01L07: Verification of the identity of an existing customer Q1-15

a40S105t01L08: Reporting obligations Q1-20

a40S105t01L09: Reporting obligations 2 - transactions and funds transfers Q1-20

a40S105t01L10: Reporting obligations 3 - Compliance reports Q1-15

a40S105t01L11: Electronic Funds Transfer Instructions 1 - Key Concepts Q1-30

a40S105t01L12: Electronic Funds Transfer Instructions 2 - Obligations And Exceptions Q1-30

a40S105t01L13: Record-keeping Requirements Q1-30

the relationship between ethics and regulatory requirements (e.g. good faith, utmost good faith, full disclosure of remuneration/fees and any other conflicts of interest which may influence the adviser)

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Managing Conflicts of Interest Q1-20

a40s104t01L16: Financial Requirements Q1-19

a40s104t01L17: Authorised Representatives Q1-19

a40s104t01L18: Responsible officers Q1-19

a40s104t01L19: Breach Reporting Q1-20

relevant industry standards and codes of conduct

a40s104t01L09: Industry Codes of Practice Q1-20

regulators' guidelines including our requirements in this policy

a40s104t01L00: Compliance

a40s104t01L01: An Introduction to Compliance Q1-15

a40s104t01L02: Legislation Overview - Financial Services Reform Act 2001 Q1-20

a40s104t01L03: Legislation Overview - The Corporate Law Q1-20

a40s104t01L04: Economic Reform Program Q1-20

a40s104t01L05: The Australian Stock Exchange (ASX) Q1-20

a40s104t01L06: Regulators - ASIC Q1-20

a40s104t01L07: Regulators - APRA Q1-20

a40s104t01L08: Implementing Compliance Programs AS3806 Q1-20

a40s104t01L09: Industry Codes of Practice Q1-20

a40s104t01L10: Competency Compliance: ASIC's PS146 Q1-15

a40s104t01L11: AFS Licensing Q1-20

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Managing Conflicts of Interest Q1-20

a40s104t01L16: Financial Requirements Q1-19

a40s104t01L17: Authorised Representatives Q1-19

a40s104t01L18: Responsible officers Q1-19

a40s104t01L19: Breach Reporting Q1-20

complaints resolution procedures (external and, if relevant, internal)

a40s104t01L14: Dispute resolution Q1-20

• any representative of a licensee
• employee or owner
• all natural persons who provide financial product advice to retail clients

• risk factors and return expectations
• volatility of income and capital
• market and sector risks (economic cycle, fixed interest, property, stock market)
• access restrictions on product
• economic
• specific product risk
• borrowing risk/gearing

• beliefs about performance
• security
• conservative
• risk
• fluctuations in income and/or capital
• moderate
• speculator
• passive
• active
• long term or short term investor

• debt position
• security
• expectations of income from this product
• family income
• business needs
• expectations of access to product
• expectations of lifecycle and length of product

• computer and manual applications
• written advice
• disclaimers
• disclosures
• product application forms

• detail of the customer's needs and objectives for income,
• security,liquidity, and the time period the customer is planning for
• details of liabilities and potential liabilities of the customer
• individual investment preferences and aversion or tolerance to risk
• other customer details such as employment security, likely events and their impact on the customer, age and other products they have

Area

Training Package Specification

Gryphon Learning Implementation

To achieve competency in this unit, a person must be able to demonstrate:

• knowledge of industry regulations and codes of practice, financial products and services, financial markets and characteristics, roles of other specialist providers and licensees, as well as the impacts of taxation on the clients financial requirements for the specific products offered

As students use Gryphon Learning's courseware to study, they are presented with approximately 1,800 interactive questions allowing them to self-assess their knowledge and skills in this area. The results of these assessments are stored in Gryphon Learning's database, providing evidence of towards the required competencies and knowledge.

To validate this evidence, students are required to sit three supervised assessments involving assessment items drawn from those listed above. Students who have "cheated" by allowing others to study using their login would be most unlikely to satisfactorily complete the supervised tests.

• Competency is demonstrated by performance of all stated criteria, including the Range Statement applicable to the workplace environment.
• Assessment should cover a representative range of clients (risk profile and needs) and products.

Under ASIC's Licensing rules, students who have not already demonstrated competency in this unit are not permitted to advise clients. Therefore, the assessment must involve a simulated environment.

Students are required to study the Topic a00s102t09 Managed Investment Clients. This involves interaction with 10 simulated clients in a simulated work environment, and over 100 interactive assessment items.

Students are also required to submit 3 emails describing the interpersonal skills appropriate for interacting with the clients.

Prerequisites for this unit have been obtained from standards within the securities industry sector, with generic advice provisions. Customisation of these units should reflect managed investments products. Industry requirements to satisfy Tier 1 requirements are as follows:

• FNSICCUS506B Determine client requirements and expectations
• FNSICADV502B Provide appropriate and timely information and advice to clients
• FNSICPRO502B Conduct research to support recommendations
• FNSICCUS507B Record and implement client instructions.

The assessments for this unit also allow students to demonstrate the competencies, skills and knowledge requirements for the Co-requisite and prerequisite units.

For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Assessment involves emailed essays, a range of interactive assessment items comprising both formative and summative assessment. Some of these summative assessments are supervised.

As part of the assessment, information is provided using Audio, Video, text and graphics. Student responses can involve

• Completion of simulated workplace documentation
• Completion of simulated processes
• Responses to multiple choice questions (e.g. clicking on documents to be given to clients)
• Manipulating and organising items on screen
• Responses to True/False questions
• Pointing to significant areas on charts or graphs

• Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.
• Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.
• Registered Training Organisations (RTOs) need to be mindful of the legislative obligations of licensees, where ASIC have prescribed the opportunities where recognition of current competence can be undertaken for these units.

See assessment items and courseware listed above.

Under ASIC's Licensing rules, students who have not already demonstrated competency in this unit are not permitted to advise clients. Therefore, the assessment must involve a simulated environment.

This unit of Competency is offered as part of a course which is listed on the ASIC Training Register as Meeting the educational requirements for the minimum requirements for Advising on Managed investments.

To obtain a certificate stating students have met ASIC's requirements, students must demonstrate that they currently have these competencies. This complicates RPL. See the discussion of RPL in the Gryphon Learning Training Strategies Manual.

Unless otherwise specified, there are no significant resource implications for assessment of this unit, apart from access to a relevant workplace or closely simulated office environment and the use of a range of office equipment, technology and consumables. These may include standard commercial computer hardware, software, telephones, facsimiles, and other relevant office equipment.

To complete this unit, students need a computer with adequate internet access. For minimum specifications see the Gryphon Learning Training Strategies Manual.

Most students are currently working in the finance industry (including those employed by Gryphon Learning), and therefore have access to a range of relevant resources (including product documentation.)

Others have accessed such resources from a range of sources, including their financial advisors, by subscription, using the internet and, (under some circumstances, from Gryphon Learning.)