FNSFPL617 — Prepare advice in derivatives

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What an assessment for FNSFPL617 must cover

72 assessable components: 5 elements (22 performance criteria), 4 performance evidence and 37 knowledge evidence requirements, plus 9 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.

Elements & performance criteria

1 Analyse client needs and risk profile

1.1Analyse all information gathered from authorised representative taking client product expectations and specific needs into account according to organisational procedures
1.2Consult with authorised representative throughout analysis for further clarification where necessary
1.3Identify need for specialist advice and ensure client is referred to appropriate adviser where required
1.4Assess and confirm client’s product risk profile according to expectations of cash flow and relevant taxation obligations

2 Develop derivatives strategies and solutions that meet client needs and risk profile

2.1Identify legislative, regulatory and code of practice requirements relevant to products being offered
2.2Determine required derivatives strategy based on analysis of derivative products, client risk profile and client’s needs
2.3Conduct required research, analysis and product modelling and apply stress tests for changes in market conditions

3 Provide strategies and solutions to authorised representative

3.1Draft required solution, plan, policy or transaction and provide to authorised representative
3.2Explain proposed solution, plan, policy or transaction to authorised representative
3.3Confirm required details, terms and conditions of product and service
3.4Disclose impacts and possible risks of solution and offer alternative solutions to authorised representative
3.5Prepare supporting written documentation and guide authorised representative through key aspects of documentation
3.6Discuss and clarify concerns and issues regarding proposed solution, plan, policy or transaction with authorised representative
3.7Confirm with authorised representative client’s understanding of proposed solution, plan, policy or transaction

4 Establish agreement and complete documentation process

4.1Obtain authorised representative’s formal agreement and sign-off to proposed solution, plan, policy or transaction
4.2Document fees, cost structures and timeframes for execution and processing
4.3Ensure that proposal and required statutory and transactional documents are completed and signed off by client
4.4Provide draft agreement and other required documentation to authorised representative

5 Agree to arrangements for providing ongoing services

5.1Prepare documentation of fees and costs for ongoing and specifically defined services according to organisational policies and procedures
5.2Agree to type and form of ongoing service to be provided
5.3Provide documented service arrangements to authorised representative for confirmation
5.4Implement procedures for agreed ongoing service according to organisational policies and procedures

Performance evidence

prepare accurate and ethical advice on derivative products and services for at least two different clients.
interpret and comply with industry regulations and codes of practice
analyse client needs, financial situation and risk profile, and prepare appropriate strategies or solutions relating to derivatives
implement the solution, plan, policy or transaction once agreed by the client and complete documentation.

Knowledge evidence

economic environment, including:
characteristics and impact of economic and business cycles
interest rates and exchange rates
inflation
government monetary and fiscal policy
operation of financial markets, including:
roles played by intermediaries and issuers
structure and interrelationships within financial markets
interrelationship between industry sectors
financial products, including:
concept of a financial product: general definition, and specific inclusions and exclusions
types of financial investment products
types of financial risk products
aspects of ongoing service provision, including:
reporting on performance
using effective communication skills
reviewing of solution, plan, policy or transaction.
legal environment, including disclosure and compliance covering:
role of the authorised representative or adviser
relevant legal principles relating to the Corporations Act, Australian Securities and Investments Commission (ASIC) Act, Privacy Amendment (Private Sector) Act, and Competition and Consumer Act
relationship between ethics and regulatory requirements, including good faith, utmost good faith, full disclosure of remuneration and fees, and other conflicts of interest that may influence authorised representative’s recommendation
relevant industry standards and codes of practice
regulatory guidelines
internal and external complaints resolution procedures
ASIC market integrity rules
Australian Securities Exchange (ASX) 24 Operating Rules
elements of the Registered Representatives Examination
operation of derivatives markets, including:
market participants
roles played by intermediaries
structure and interrelationships between the securities and derivatives sectors
characteristics of a range of derivatives, the associated risks and investment options using derivatives products
theories of investment, portfolio management and management of investment and risk, including:
investment concepts and strategies
identification of types of risk
client risk profile
taxation issues in relation to derivatives, financial products and markets in which they operate.

Foundation skills

Learning: Extends knowledge of product features and applications of derivative investments relevant to current role using research and analysis
Numeracy: Interprets financial product information and calculates client costs, risks and returns
Oral communication: Articulates requirements using industry-specific language appropriate to audience and environment Uses active listening and questioning techniques to elicit information and confirm understanding
Reading: Interprets textual information from relevant sources
Writing: Uses industry-related terminology to complete and consolidate workplace documentation
Planning and organising: Takes responsibility for the planning, sequence and priority of tasks within own workload to achieve effective and compliant outcomes
Self-management: Takes personal responsibility for following policies, procedures and protocols to provide advisory services and documentation that comply with legal, statutory and organisational requirements Applies systematic and analytical decision-making processes to determine and implement investment solutions that meet client needs and financial requirements, including referral to specialist personnel as required
Teamwork: Selects and uses the appropriate conventions and protocols when communicating with authorised representatives Seeks and shares information, establishes agreement and maintains ethical service relationships Adapts personal communication style to show respect for the values, beliefs and cultural expectations of others
Technology: Uses the main features and functions of digital tools to complete work tasks

Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.

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Questions about assessing FNSFPL617

What does an assessment tool for FNSFPL617 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for FNSFPL617 needs to address all 72 unit components: 5 elements with 22 performance criteria, 4 performance evidence requirements, 37 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.

How does Auditori generate an assessment tool for FNSFPL617?

Auditori pulls the current release of FNSFPL617 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.

Is the first assessment tool really free?

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Can I check my existing FNSFPL617 assessment instead of generating a new one?

Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of FNSFPL617, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.

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