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 theSuperannuation 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 Superannuation in accordance withASIC regulations.

Industry Capability- ASIC Advisory Units

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 2a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 3b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Operation and Management of the Superannuation Industry

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 3a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 14

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Managing Conflicts of Interest Q1-20

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 2c

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 2c

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

2.3 Product risk profile of the client is identified

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 7a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation 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

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 2c

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 4a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 5b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 10

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

3.4 Product risk profile of the client is assessed and agreed

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 7a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

Also see all questions listed under Skills and Knowledge Requirements

All 10 assignments a00s102t33L01-10: Superannuation: Client 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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 8a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

4.2 Relevant research, analysis and product modelling is conducted

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 8a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 6c

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 8b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Operation and Management of the Superannuation Industry and Small Funds

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 9b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Operation and Management of the Superannuation Industry and Small Funds

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 9b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Operation and Management of the Superannuation Industry and Small FUnds

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 9c

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 9e

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 11b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 11a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 9a

See also assessment Items (Questions) Listed under Specialist Knowledge Requirements: Operation and Management of the Superannuation Industry

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 9b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 11b

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

8.2 Copies of appropriate documentation and the signed agreement are exchanged

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 11b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 11a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 9a

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

9.3 Ongoing service is provided as required.

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 12c

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

ability to perform completed needs analysis

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 12c

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

analytical skills

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

Also see all questions listed under Knowledge Requirements

presentation skills

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 6c,8b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

customer negotiation skills

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 , Q 9a-e,11a, 11b

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

Also see all questions listed under Knowledge Requirements

effective interpersonal and communication skills

All 10 assignments a00s102t33L01-10: Superannuation: Client 1-10 Q 6, 8

a00S103t09L01PT: Superannuation Test 1 Q -

a00S103t09L02PT: Superannuation Test 2 Q -

a00S103t09L03PT: Superannuation Test 3 Q -

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

A25s008t01l00: Superannuation Q1-na

A25s008t01l01: Advantages And Disadvantages Q1-10

A25s008t01l02: Types Of Funds Q1-10

A25s008t01l03: Tax Concessions Q1-10

A25s008t01l04: Superannuation Contributions Surcharge Q1-10

A25s008t01l05: Access To Benefits Q1-10

A25s008t01l06: Tax On Lump Sum Withdrawals Q1-10

A25s008t01l07: Rolling Over Q1-10

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: Superannuation 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: ASICs 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 (eg Corporations Act, Financial Services Reform Act (FSRA), Trade Practices Act etc.), the relationship between ethics and regulatory requirements (eg 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: ASICs 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

characteristics and structure of a superannuation product

A14s001t01l00: Operation Of Superannuation Markets

A14s001t01l03: Role Of Regulators Q1-11

A14s001t01l09: Disclosure And Compliance

A14s001t01l10: Alternative Dispute Resolution Q1-12

A14s001t01l11: Superannuation Update Q1-20

a14s001t02L00: Management Of Superannuation Markets

roles played by intermediaries and issuers

A14s001t01l06: Roles Played By Intermediaries And Issuers Q1-10

types of superannuation products

a14s001t04L00: Types Of Products Used Q1-na

a14s001t04L01: Allocated Pensions Q1-10

a14s001t04L02: Advantages And Disadvantages Q1-10

a14s001t04L03: Annual Payments Q1-10

a14s001t04L04: Summary Of Rules Applying To Allocated Pension Q1-10

a14s001t04L05: Lifetime Complying Pensions Q1-12

a14s001t04L06: Term Complying Pensions Q1-17

a14s001t04L07: Rules For Complying Products Q1-20

fee structures/administration and management costs

A14s001t01l05: Characteristics And Structure Of A Superannuation Fund Q1-12

A14s001t01l07: Types Of Superannuation Funds Q1-10

A14s001t01l08: Adviser Fees And Commissions Q1-10

types of contribution

a14s001t03L00: Contributions Q1-na

a14s001t03L01: Superannuation Guarantee Q1-10

a14s001t03L02: Small Superannuation Amounts

a14s001t03L03: Personal Contributions Q1-10

a14s001t03L04: Etps Q1-

a14s001t03L05: Choice Of Fund Q1-10

a14s001t03L06: Splitting Superannuation On Divorce Q1-10

a14s001t03L07: Reasonable Benefits Limit Q1-10

a14s001t03L08: Contributions Surcharges Q1-10

a14s001t03L09: Spouse Contributions Q1-10

annuities/pensions, allocated pensions and income stream products

a14s001t04L00: Types Of Products Used Q1-na

a14s001t04L01: Allocated Pensions Q1-10

a14s001t04L02: Advantages And Disadvantages Q1-10

a14s001t04L03: Annual Payments Q1-10

a14s001t04L04: Summary Of Rules Applying To Allocated Pension Q1-10

a14s001t04L05: Lifetime Complying Pensions Q1-12

a14s001t04L06: Term Complying Pensions Q1-17

a14s001t04L07: Rules For Complying Products Q1-20

associated risks

a14s001t02L01: Associated Risks Q1-10

trustees appointment, duties and responsibilities

A14s001t01l04: Trustee Rules Q1-

structure of superannuation plans management and administration of superannuation

products

a14s001t02L02: Structure Of Superannuation Plans Management And Administration Of Superannuation Funds Q1-10

preservation rules

a14s001t02L03: Preservation Rules Q1-11

investment strategies within superannuation funds (ie investment concepts and strategies)

a14s001t02L04: Investment Strategies Within Superannuation Funds, I.E. Investment Concepts And Strategies Q1-12

a25s001t05L00: Portfolio Management Q1-na

A25s001t05l04: Diversification And Portfolio Risk Q1-7

a25s001t05L05: Diversification, International, Investment Types, Sectors Q1-10

A25s001t05l07: Portfolio  Valuation Q1-12

A25s001t05l10: Hedging Q1-12

A25s001t05l11: Dollar Cost Averaging Q1-11

A13s001t05l00: Portfolio Management Q1-na

A13s001t05l01: Rational For Portfolio Diversification Q1-10

A13s001t05l02: CAPM Model Q1-10

A13s001t05l03: Active And Passive Portfolio Management Q1-10

A13s001t05l04: Portfolio Construction Q1-10

A13s001t05l05: Risk Adjusted Performance Measures Q1-10

A13s001t05l06: Problems With Performance Measurement Q1-10

A13s001t05l07: Assessing The Contribution Of Management Q1-10

a15s006t02L00: Securities Portfolios Q1-na

A15s006t02l01: Range Of Securities/Futures Products Q1-10

A15s006t02l02: Investment Options Using Securities Products Q1-

A15s006t02l03: Portfolio Risk Q1-10

A15s006t02l04: Risk Tolerance And Asset Allocation Q1-10

A15s006t02l05: Diversification And Portfolio Risk Q1-10

A15s006t02l06: Optimally Risky Portfolios Q1-10

A15s006t02l07: Hedging With Options Q1-10

A15s006t02l08: Hedging With Futures Q1-10

A15s006t02l09: Passive Portfolio Management Q1-10

A15s006t02l10: Active Portfolio Management Q1-10

restrictions on investment strategies

a14s001t02L05: Restrictions On Investment Strategies Q1-12

Retirement Saving Act (RSA) 1997

A14s001t01l01: Superannuation Guarantee (Administration) Act 1992 Q1-12

detailed knowledge of the SIS Act 1993

A14s001t01l02: Superannuation Industry (Supervision) Act 1993 Q1-12

Superannuation Guarantee Act 1991, and other relevant legislation

A14s001t01l01: Superannuation Guarantee (Administration) Act 1992 Q1-12

Superannuation Contribution Tax (Assessment and Collection) Act 1997

a04s007t02L02: Employer And Employee Contributions Q1-29

Income Tax Assessment Act 1936

impact on investment earnings

a04s007t02L00: Superannuation Taxation

a04s007t02L01: Impact On Investment Earnings Q1-30

employer and employee contributions

a04s007t02L02: Employer And Employee Contributions Q1-29

benefit payments and expenses

a04s007t02L03: Benefit Payments And Expenses Q1-30

tax deductions

a04s007t02L04: Tax Deductions Q1-25

capital gains tax treatment

a04s007t02L05: Capital Gains Tax Treatment Q1-30

roll-overs

a04s007t02L06: Roll-overs Q1-30

reasonable benefit limits

a04s007t02L07: Reasonable Benefit Limits

superannuation surcharge

a04s007t02L08: Superannuation Surcharge Q1-30

social security pension eligibility

a04s007t02L09: Social Security Pension Eligibility Q1-29

retirement planning

a04s007t02L10: Retirement Planning Q1-

death benefits

a04s007t02L11: Death Benefits Q1-30

franking credits

a04s007t02L12: Franking Credits Q1-30

the role of the representative/adviser

a40s104t01L10: Competency Compliance: ASICs 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 (eg Corporations Act, ASIC Act, Privacy Amendment (Private Sector) Act)

A14s001t01l01: Superannuation Guarantee (Administration) Act 1992 Q1-12

A14s001t01l02: Superannuation Industry (Supervision) Act 1993 Q1-12

A14s001t01l03: Role Of Regulators Q1-11

A14s001t01l11: Superannuation Update Q1-20

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: ASICs 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 (eg 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

A14s001t01l09: Disclosure And Compliance

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: ASICs 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)

A

A14s001t01l10: Alternative Dispute Resolution Q1-12 40s104t01L14: Dispute resolution Q1-20

characteristics of Self Managed Super Funds and Small APRA Funds

establishment of Self Managed Super Funds

special investment rules

associated risks

roles played by advisers

trustee appointment/ duties/ responsibilities

fee structure/ administration/ management costs

income streams

Self Managed Super Funds relationship with ATO

_{in specie contribution}

• 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:

• range of communication and interpersonal skills to establish the knowledge level of the client
• knowledge of products and services available and relevant fee and charging methodologies
• ability to explain the role adviser
• ability to explain licensee/principal's responsibility for the advisers conduct
• ability to identify clients objectives, needs and financial situation
• knowledge of how to construct a risk profile for a client
• ability to analyse client objectives, needs, financial situation and risk profile
• knowledge of ASIC's identified generic and specialist knowledge requirements
• ability to develop appropriate strategies and solutions for clients financial needs
• ability to present appropriate strategies and solutions to clients
• ability to negotiate financial plan/policy/transaction
• understanding of supporting documentation and client confirmation requirements
• ability to coordinate the implementation of the agreed plan/policy/transaction
• ability to complete and maintain statutory and transactional documentation
• demonstrated 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 client's financial requirements for the specific products offered
• for insurance products, competence in this unit is subject to the staff members' approval/authority to accept the transfer of risk

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 a00s102t33 Superannuation 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.)