FNSCUS501A Assessment 1 v2
Version 2
Business&Finance/Banking&Finance/Bankstown
Last updated Mar 12
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Diploma of Finance and Mortgage
Broking Management
Course 10732
FNS50311
Unit 4 Assessment
FNSCUS501A
Develop and nurture relationships with clients, other professionals and third party referrers
All elements of this unit are covered by this assessment
Name:
Errors
Allowed for AC No of errors Result
AC/NC
PART A
Q1- 2 <2
PART B
Q3-4 <4
PART C
Q5-6 <4
Assessment overall result
This unit is UNGRADED and will be recorded as competent (AC) /not yet competent (NC) on your official transcript
To be assessed as competent in this section of the unit you must achieve 80% in each of Parts A, B and C
ALL questions to be attempted
I accept by uploading this assessment that I am certifying that this is entirely my own work, except where I have given fully documented references to the work of others, and that the content of this assessment has not previously been submitted for assessment in any formal course of study.
Note: Copying information directly from the course notes is plagiarism unless it is properly referenced. In addition it is not a competent answer unless an explanation in your own words is also provided to demonstrate your understanding.
Question 1
Paul Holt has been a client of yours for over 5 years. When you met with him this morning he said that feels his business is not important to you as you have not made contact with him even though he has referred several opportunities to you in the last six months.
Required: List and explain 3 actions you can take to make Paul feel valued and continue to gain future referrals from him?
Action Explanation
1.
2.
3.
Question 2
Last week you attended your first meeting of the local Chamber of Commerce. You were able to hand out 20 of your business cards and received the same number in return.
Required: List and explain 3 actions you are going to take to follow up on these new contacts.
Action Explanation
1.
2.
3.
PART B
Use the following scenario to answer questions in this part.
.
Your goal for next year is to settle $4 million per month in loans. As a broker who has only been in the industry for a few months you understand how important it is to develop a business plan so you can achieve this goal.
In developing your plan you identify the following information:
• 30 existing clients
• 2 existing referrers (who have each provided 2 successful applications)
• MFAA member
• Not a member of any other organisation
Question 3
a) Identify 2 actions you will take to increase your network of referrers
b) Explain how you will implement these methods
c) Detail the timeframe you will need
Action 1
Implementation
Timeframe
Action 2
Implementation
Timeframe
Question 4
a) Identify 2 actions you will take to increase referrals from your existing client base
b) Explain how you will implement these methods
c) Detail the timeframe you will need
Action 1
Implementation
Timeframe
Action 2
Implementation
Timeframe
PART C
Question 5
You have received several referrals from a new third party referrer. None of these referrals were successful and you will need to provide feedback to your referrer to improve the quality of referrals you are receiving.
Required: List and explain 2 actions you will take to educate your referrer on quality referrals
Action Explanation
1.
2.
Question 6
Tom Lane (existing client) has called as he is unhappy that it is two weeks since applying for an increase in their home loan and they have still not heard what is happening. They are concerned as they are renovating their kitchen and need to pay the first progress payment.
John Moss (broker looking after the Lane’s) is out of the office.
Required:
a) Explain in your own words the meaning of the 5 steps in problem solving
b) Using the 5 steps complete the table below for how you would reply to Tom Lane
c) Identify 2 actions you would take to ensure Tom Lane receives a response
a)
Step Explanation
1.Recognise the problem
2.Ascertain the cause/s of the problem
3. Identify alternative solutions
4. Implement an option to resolve the problem
5. Follow up implementation to ensure it is successful
b)
Tom Lane I am not happy as I’ve been waiting for a call from John Moss to find out about my application for a loan increase
You
Tom Lane I applied two weeks ago as we are renovating our kitchen and needed a $25,000 increase
You
Tom Lane If John is not available what can you do for me?
You
Tom Lane Ok then I will expect a call
You
c)
1.______________________________________________________________________
2. ______________________________________________________________________
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