Ethics

For trainer/assessor: For the simulated environment

· The trainer/assessor or supervisor must ensure that the student is made familiar with the existing workplace practices used in the workplace.

· The trainer/assessor must ensure that the student has access to the following in the simulated workplace scenario:

· Office equipment, technology, software and consumables

· Computer

· Internet

· MS Word

· Printer or e-printer

· Team members

· BrokerEngine

· Contact software system and data

· Clients as mentioned in the case scenarios

· Organisational products and information

· Organisational policies and procedures documentation.

· The trainer/assessor will take on the role of the lender.

· The trainer/assessor must ensure that the student has access to the internal stakeholders of the training organisation.

· The trainer/assessor will assign the role of the client for case scenario 2 to the staff member of the training organisation.

· The trainer/assessor must brief the staff member regarding case scenarios provided above.

· The staff member must discuss the information requested by the student/broker based on the case scenarios and the scripts provided.

· The trainer/assessor must assess the student using the performance checklist provided.

Steps

Place a tick mark, once completed

Step 1: Determine the client's goals, objectives, and confidentiality requirements.

· Analyse the information given in case scenario 2.

· Determine the client goals and objectives related to the loan and document using Template 2.

· Identify the confidentiality requirements requirement and document using Template 2.

·

Step 2: Obtain client’s financial and personal information.

· Consult with the client and obtain the following financial and personal information:

· Total cost of property.

· Total saving

· Work details

· Dependants

· Total expenses

· Loans and credit details

· Document the identified information using Template 2.

Client to discuss the following:

· Total home cost: $550,000.00

· Combined income details:

· $7,200 per month before tax.

· Dependants: 0

· Total expenses: $1,500/per month

· Credit scenario:

· Credit card: $2,000

· Car loan: $450/month

· Existing saving: $60,000

·

Step 3: Determine the information needed to support a loan application in accordance with codes of practice, legislative, and regulatory requirements.

Document the information needed to support a loan application using Template 2.

·

Step 4: Gather the necessary documents and signatures for the loan application.

· Request the client to provide the following details.

· Bank statements

· Copies of tax forms

· Request the client to sign the loan application document.

Trainer/assessor to provide the following documents to the student:

· Sample of bank statements and tax forms

· Loan application form

·

Step 5: Inform the client about the loan preparation and presentation process.

· Discuss with the client regarding the loan preparation and presentation process.

· Clarify the information requirements of the student.

· Document the loan preparation and presentation process discussed with the client using Template 2.

·

Step 6: Verify loan requirements and review supporting documentation for accuracy and readability.

· Verify loan requirements requirement with the client.

· Review supporting documentation for accuracy and readability.

· Bank statements

· Copies of tax forms

· Further, document the following using Template 2.

· Loan requirements

· Checks conducted on supporting documents to ensure accuracy and readability.

·

Step 7: Provide documentation that accurately reflects the client's financial situation and personal information in accordance with the lender's requirements and guidelines to the lender (Trainer/assessor).

· Go over documents with the client and confirm information.

· Complete document execution in accordance with organisational procedures as needed.

· Complete the home loan form provided along with the assessment. Ensure the documentation accurately reflects the client's financial situation and personal information.

·

Step 8: Comply with client confidentiality requirements when submitting documents to the lender or approving officer.

Further, document the client confidentiality requirements complied with when submitting documents using Template 2.

·

Step 9: Obtain lender or approving officer decision and notify client of loan offer or non-offer in accordance with organisational policies and procedures.

Discuss in the e-mail how to proceed following the lender’s decision on the non-offer.

Lender (Trainer/assessor) to discuss that the loan is rejected due to bad credit history.

·

Sign off:

Supervisor’s signature:

Sign-off date:

Client loan application for case scenario 2

Confidentiality requirements requirement

Client’s financial and personal information

Total cost of property.

Total saving

Work details

Dependants

Total expenses

Loans and credit details

Information needed to support a loan application

Loan preparation and presentation process

Loan requirements

Checks conducted on supporting documents to ensure accuracy and readability

Confidentiality requirements complied with when submitting document