Finance

Practice

(FBP)

Student

Assessment Booklet

Name:

Date:

Manual Version Number:

International Institute of Technology © 1 VR390718

Please note: It is a requirement for students to make their submissions using this electronic assessment booklet. At the facilitator’s discretion any submissions made in another format may not be accepted. If you are completing the course via various computers, please save the one booklet on a USB so you can send the submission in using the one file

Getting Started

Please insert your NAME, DATE and the Manual Version Number on the first page of your Assessment Booklet.

Answering Assessment Questions

Each Assessment Booklet contains blank spaces for following assessment items:

· Short Answer Questions

When submitting Assessment Booklets for marking, please ensure that the entire booklet is completed.

Short Answer Questions

Using the space/s provided, please complete your answers making sure to:

· Please restrict your answers to no more than 300 words per question

· Please include any calculations that you used to reach your answer

Referencing Your Answers

Students undertaking the course must exhibit a range of skills in order to be confirmed as competent in their course. These skills include:

· Understanding a question.

· Possessing knowledge about the issue, which in some assessments includes locating information from references.

· Providing an answer, this shows personal understanding.

Please make sure that all assessments are documented in a way that exhibits your personal study and/or research. To that end would you please acknowledge all material and sources used in the presentation of your assessment whether they are books, articles, reports, Internet searches, or any other document or personal communication. For example if:

· An idea is sourced; reference it e.g. (Bagra 2010).

· You are directly quoting, wrap it in quote marks e.g. “Tom Horner sat in a corner” (Peters 2007 page 7).

· You are quoting from the internet include quote marks and the web reference e.g. “ban on conflicted remuneration structures including commissions” <http://futureofadvice.treasury.gov.au/content/Content.aspx?doc=reforms.htm> accessed on the 28th of December 2012.

Please note that no more than 5% of direct quoting which is referenced is deemed to be acceptable and no amount of direct quoting without referencing is deemed acceptable. Any direct quoting should form only a small portion of any answer and the answer should demonstrate the student understands and can interpret the question and provide an appropriate answer. 

Whilst this will require more work for you I hope you will understand that we are trying to maintain high standards and support your progression into further qualifications.

Document Naming Instructions:

Save this file to your computer and please use the following protocol when naming the file:

SUBMISSION this relates to the number of times the file has been submitted. For example, your first submission would be S1, with any re-submission the file name should be recorded S2.

Note: If you are submitting handwritten assessments all questions must be completed in blue or black pen. If assessments are received in pencil or with illegible handwriting, a resubmission will be required.

Note: It is your responsibility as a student to keep a copy of all assessment submissions. IIT do not take responsibility for the loss of any submissions.

Distance Education Students

Student Declaration

I understand that by completing this form I am bound by the following declaration.

To the best of my knowledge and belief, no part of this assignment for the above unit has been copied from any other student’s work or from any other source except where due acknowledgment is made in the text, or has been written for me by another person.

Name: Date:

FBP: Chapter 1

International Institute of Technology © 10 VR261018

Short Answer Question 1

When you contacted the online job network to enquire about the cost of advertising for a mortgage broker for So Sweet you were offered free advertising for a month if you would write a job description for Sulu Pty. Ltd. who hold an Australian Credit License who are looking for a debt reduction specialist and BPO Financial Institution who are looking for a Mortgage Manager.

Prepare three job descriptions, the first for a mortgage broker, and the second for a debt reduction specialist and the third for a mortgage manager.

Short Answer Question 2

(a) Prepare a business card for yourself as a mortgage broker using the spell check and grammar functions on your computer. Print the business card and scan the document in with your assessment.

(b) Prepare a report on the role that valuer’s play in the mortgage broking industry.

Short Answer Question 3

(a) Responding to your advertisement for a mortgage broker you get a call from a potential candidate that wanted some information on the aggregator that So Sweet uses. They wanted to know what the contractual arrangements regarding who owns the contact with the client that is sourced by them as the mortgage broker if they were to leave So Sweet and is there a length of time that the mortgage broker has to stay with the aggregator? Researching online (which is a form of online help), choose an aggregator and name them and answer the potential candidates questions.

(b) Describe the process of introducing yourself as a mortgage broker including the documentation that needs to be passed over to the client and the timing of the delivery of the documentation.

(c) What should a mortgage broker consider when communicating with clients?

Short Answer Question 4

A new mortgage broker who is the opposite sex to you has been hired and is ready to start. The new mortgage broker has the feminine version of your name if you are male and a masculine version of your name if you are female. As the nominated mentor you write an email:

· detailing the work day which will include sourcing and meeting a client with you;

· explaining how they will be remunerated.

Short Answer Question 5

Your boss Millicent Holmes asks you to induct a new employee, Ying Hsiung. Accordingly, you meet Ying and explain that you will give her a tour of the office facilities and introduce her to key personnel. Within the first fifteen minutes of your introductory tour around the office, Ying burns her hand on the coffee machine, catches her hand woven fair-trade, linen scarf in the shredding machine and cuts her leg on a filing cabinet drawer that was left ajar. Once you return Ying safely to her work station, you report the mishaps to Millicent and return to your desk.

Just as you are about to stop for lunch, Millicent informs you that she has just had a conversation with Ying. Apparently Ying, a hardened university activist, was rather vocal not only about the damage to her Oxfam scarf but also about the office’s carbon footprint and lack of basic recycling protocols. To follow up on the issues Ying raised, Millicent tells you she reviewed all WHS documentation (previously OHS) and noted the office’s lack of policy regarding sustainability.

(a) Write an email to colleagues:

i. Outline the implications of WHS legislation (previously known as OHS), regulations and policies.

ii. Explain how these relate to organisational requirements and work practices.

iii. Include links to helpful documents/websites you have sourced.

iv. Encourage staff efforts and contributions.

(b) Calculate the cost of making the workplace safer in light of the incidents that occurred during Ying’s induction, ensure that you have addressed all the issues that arose. Note: Include some relevant costs in your answer.

(c) In an email provide feedback to Ying on her first day’s work remembering to use communications to show that you encourage, value and reward individual and team efforts and contributions. Ensure you identify and resolve problems which might impede her performance.

(d) You admit to yourself you felt annoyed at Ying when she first started as she wasted a lot of your time not only in the induction but as a result you now have ongoing responsibilities related to workplace health and safety. You realise that she is probably not the sort of person you would choose as a friend. What new way would you introduce to improve work relationships with Ying?

(e) How would you monitor your work relationship with Ying?

(f) What do the following signs means?

i.

ii.