This unit describes the functions of recording and implementing client instructions regarding financial investments.

This unit contains employability skills.

This unit requires the application of skills to record and implement client instructions including, execution of instructions, reviewing

and monitoring of implemented instructions and providing additional after sales services.

Clients may include shareholders, members, companies and organisations, stockbrokers, trustees, agents and intermediaries.

Industry Capability- Customer Relationship

1.1 The client is adequately identified and instructions given

in good faith

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

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

1.2 Confirmation from client of instructions and requirements

is sought

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

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

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

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

1.3 Relevant client instructions are recorded and documented promptly and accurately in accordance with company policy and guidelines, confidentiality requirements, and with relevant legislation or industry codes of practice

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

8.2 Copies of appropriate documentation and the signed agreement are exchanged

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

1.4 Client instructions are actioned with relevant personnel/section in accordance with client requirements, company policy and guidelines, confidentiality requirements, and with relevant legislation or industry

codes of practice

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

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

2.1 Terms and conditions of agreed options and investment

strategies are reviewed and monitored for consistency with client instructions

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

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

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

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

2.2 Implementation strategies and actions are regularly monitored and reviewed to ensure compliance with client instructions

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

2.3 Clients are regularly updated on the implementation and administration of their agreed investment strategies and instructions to ensure no breaches of agreement or anomalies occur

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

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

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

2.4 Clients are advised of changes to markets, legislative or company requirements or guidelines where appropriate

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

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

3. Provide additional/after

sales service

3.1 Client documentation, information and histories are

periodically reviewed to determine areas and extent of

additional/after sales service that can be provided

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: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

3.2 Potential areas of additional/after sales service are communicated to clients utilising identified marketing strategies

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

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

3.3 Defined additional/after sales service is agreed with clients and provided as required

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

9.3 Ongoing service is provided as required.

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

3.4 Areas of client dissatisfaction are identified and acted

upon in a prompt, professional and ethical manner, and in accordance with company policy and guidelines, confidentiality requirements, and with relevant legislation

or industry codes of practice

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

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

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

attention to detail

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

telephone techniques

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

letter/report writing and record keeping

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

computer literacy

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

sales and marketing techniques

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

good communication and listening skills

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

relationship building problem solving

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

organisational skills

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

time management

All 10 assignments: a00s102t11L01-10 Derivatives : Clients 1-10, Q

OR All 10 assignments: a00s102t12L01 - 10 Securities : Clients 1-10, Q

OR All 10 assignments: a00s102t09L01 - 10 Managed Investment : Clients 1-10, Q

OR All 10 assignments: a00s102t10L01 - 10 Superannuation : Clients 1-10, Q

sound knowledge of relevant financial associations business rules

A07s002t01l01: Market Rules 7.1 - Disclosure Q1-16

A07s002t01l02: Market Rules 7.3 Trading as Principal Q1-11

A07s002t01l03: Verification of client details Q1-13

A07s002t01l04: Client Instructions and Order Priority Q1-11

a09s030t01L01: Market Manipulation Legislation Q1-10

A09s030t01l02: Fraudulent Manipulation Q1-10

a09s030t01L03: Law regarding market manipulation Q1-10

a09s030t01L04: Short Selling Q1-10

relevant legislation and codes of practice

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: Manging Conflicts of Interest Q1-20

a40s104t01L16: Financial Requirements Q1-19

company policy/procedures/requirements

a40s104t01L12: Disclosure Q1-20

a40s104t01L13: Conduct Q1-20

a40s104t01L14: Dispute resolution Q1-20

a40s104t01L15: Manging Conflicts of Interest Q1-20

product/service terms and conditions

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

knowledge of local and international financial markets and investments

A10s032t16l00 Markets And Securities Q1-15

a15s005t01L00 Securities, Derivatives And Futures Markets

A03s001t01l06 Lack Of Diversification Q1-10

fraud detection and prevention procedures and practices

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: Antimoney 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

business principles and law

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: Manging 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: Antimoney 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

basic tax factors

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 Derivatives Contributions Q1-28

a25s001t01L10: Tax And Derivatives Benefits

a25s002t02L01: Shares Q1-30

a25s002t02L02: Real Estate Q1-30

a25s002t02L03: Interest Bearing Securities Q1-30

a25s002t02L04: Derivatives Q1-30

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

a25s002t02L06: Salary Packaging Q1-30

a25s002t02L07: Derivatives Q1-30

a25s002t02L08: Fringe Benefits Q1-30

a25s002t02L09: Tax And Fixed Interest Markets Q1-30

a25s002t02L10: Tax And Managed Funds Q1-30

economic climate and outlook

A20s000t01l01 Economics Intro, Q1-14

A20s000t01l02 Domestic Economy, Q1-28

A20s000t01l03 The World Economy, Q1-12

A20s000t01l04 Economics At The Industry Level, Q -11

general sales and marketing techniques

a40s104t01L17: Authorised Representatives Q1-19

Area

Training Package Specification

Gryphon Learning Implementation

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

• understanding of legislative requirements
• ability to record and implement client instructions in accordance with company, industry and legislative requirements
• ability to monitor and review implemented strategies against client instructions
• knowledge of potential after sales services
• fraud detection and prevention procedures and practices
• consideration of, and adaptation to, any special needs of customers, including cultural, language, race, religion, ethnic origin, socio-economic status and demographic needs

As students use Gryphon Learning's courseware to study, they are presented with approximately 2,500 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 particular workplace environment and should cover a representative range of investment products and/or services.

As this unit is co-assessed with one of the ASIC competency units assessment is undertaken under the same conditions as for one of these units

This unit may be assessed on its own or it may be

assessed with other units that cover related skills and knowledge.

Evidence is most relevant when provided through an integrated activity, which combines the elements of competency for the unit, or a cluster of units of competency.

This unit will always be coassessed with one of the ASIC competency 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, simulation, 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 in an industry context and against industry defined assessment guidelines.
• Aspects of competency, including attainment of relevant knowledge and skills may be assessed in a simulated work environment or other appropriate means.

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 Derivatives.

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

This unit may involve simulation equipment such as office and computer equipment, facilities for workplace or simulated environment assessment may be required.

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