Audio

Oral Assignment

Audio

Certificate IV in Finance and Mortgage Broking (CFMB_OR_Audio_v2)

Student identification (student to complete)

Please complete the fields shaded grey.

Student number Oral assignment result (assessor to complete)

Result first submission Not yet demonstrated

Parts that must be resubmitted Result resubmission (if applicable) Not applicable

Result summary (assessor to complete)

Time First submission Resubmission (if required)

Part 1: Instructions n/a n/a

Oral assessment Part 2: Role Play 1 & 2 20 minutes Not yet demonstrated

Not applicable

Part 3: Role Play 3 10 minutes Not yet demonstrated

Not applicable

Part 4: Role Play 4 5 minutes Not yet demonstrated

Not applicable

Part 5: Role Play 5 & 6 10 minutes Not yet demonstrated

Not applicable

Total time required 45 minutes Feedback (assessor to complete)

[insert assessor feedback]

Before you begin

Read everything in this document before you start your oral assignment by audio recording for CertificateIV in Finance and Mortgage Broking (CFMB_OR_v2).

About this document

This document is the oral assignment half of the overall written and oral assignment.

This document includes the following parts:

Part 1: Instructions for completing and submitting this assignment

Part 2: Role play 1 & 2 (20 minutes)

Part 3: Role play 3 (10 minutes)

Part 4: Role play 4 (5 minutes)

Part 5: Role play 5 & 6 (10 minutes)

How to use the study plan

We recommend that you use the study plan for this subject to help you manage your time to complete theoral assignment within your enrolment period. Your study plan is in the KapLearn CertificateIV in Finance and Mortgage Broking (CFMBv2) subject room.

You will need to start preparing for your oral assignment a few weeks before the written and oralassignment is due.

Part 1: Instructions for completing and submitting thisoral assignment

Completing the oral assignment

For this oral assignment, you are required to complete the following tasks:

Part 2: Case study 1 (available in your subject room)

Role play 1. To be completed by audio recording with a volunteer. Your assessor will complete the checklist.

Role play 2. To be completed by audio recording with a volunteer. Your assessor will complete the checklist.

Part 3: No case study applicable

Role play 3. To be completed by audio recording with a volunteer. Your assessor will complete the checklist.

Part 4: Case Study 3 (available in your subject room)

Role play 4. To be completed by audio recording with a volunteer. Your assessor will complete the checklist.

Part 5: No case study applicable

Role play 5. To be completed by audio recording with a volunteer. Your assessor will complete the checklist.

Role play 6. To be completed by audio recording with a volunteer. Your assessor will complete the checklist.

More information regarding requirements for the oral assignment is provided in the resources in your subject in KapLearn.

Saving your work

Download this document to your desktop, type your answers in the spaces provided and save your workregularly.

Use the template provided, as other formats will not be accepted for these assignments.

Name your file as follows: Studentnumber_Subjectcode_Oral_versionnumber_Submissionnumber(e.g. 12345678_CFMB_OR_v2_Submission1).

Include your student ID on the first page of the assignment.

Before you submit your work, please do a spell check and proofread your work to ensure that everything is clear and unambiguous.

Submitting the oral assignment

Only Microsoft Office compatible oral assignments submitted in the Word template file will be accepted formarking by Kaplan Professional Education. You need to save and submit this entire document. Incompleteoral assignment documents and/or audio recordings will be returned to you unmarked.

Do not remove any sections of the document.

Do not save your completed oral assignment as a PDF.

You will also need to upload an audio recording of your oral assessment.

The oral assignment (in Word) and the audio recording must all be completed before submitting it to Kaplan Professional Education. Incompleteoral assignment documents and/or audio recordings will be returned to you unmarked.

The maximum file size for the written assignment (word document), oral assignment (word document) andaudio recording is 20MB. Once you submit your oral assignment and audio recording for marking, you will be unable tomake any further changes to it.

You are able to submit your written and oral assignment earlier than the deadline if you are confident you have completed all parts and have prepared a quality submission.

Refer to your study guide so you can plan ahead to complete your audio recording before the written and oral assignment is due.

For more information, see the resources in your subject about how to organise and upload your audio recording in KapLearn.

Note: Your written assignment (in Word), oral assignment (in Word) and audio recording must all be submitted together on or before your personal due date. Please check KapLearn for your due date.

The oral assignment marking process

You have 26 weeks from the date of your activation in this subject to submit your completed oralassignment and audio recording.

If you reach the end of your initial enrolment period and have been deemed Not yet demonstrated in one or more assessment items, then an additional four (4) weeks will be granted, provided you attempted all assessment tasks during the initial enrolment period.

Your assessor will mark your assignments and return them to you in the subject room inKapLearn under the Written and Oral Assessment page.

Make a reasonable attempt

You must demonstrate that you have made a reasonable attempt to complete all the parts of your oralassessment. Failure to do so will mean that your oral assignment will not be accepted for marking, therefore,you will not receive the benefit of feedback on your submission.

If you do not meet these requirements, you will be notified. You will then have until your submission deadline to submit your completed written and oral assessment.

How your oral assignment is graded

Oral assignment tasks are used to determine your competence in demonstrating the required knowledge and/or skills for each subject. As a result, you will be graded as either Demonstrated or Not yet demonstrated for this oral assessment.

Your assessor will follow the below process when marking your oral assignment:

Assess your responses in each part of the oral assessment and then determine whether you have demonstrated competence in each question or checklist.

Determine if, on a holistic basis, your responses have demonstrated overall competence.

You must be deemed to be demonstrated in all assessment items in order to be awarded the units ofcompetency in this subject, including:

all of the exam questions

the written and oral assignment.

Not yet demonstrated and resubmissions

Should parts of your oral assignment be marked as not yet demonstrated, you will be given an additional opportunity to amend your responses so that you can demonstrate your competency to the requiredlevel.

You must address the assessors feedback in your amended responses. You only need to amend those sections where the assessor has determined the assessment result is not yet demonstrated.

You may be asked to re-record a part of your audio recording or to answer some written questions in this document. Use a different text colour for any written sections of your resubmission. Yourassessor will be in a better position to gauge the quality and nature of your changes. Ensure you leave your first assessors comments in your oral assignment, so your second assessor can see the instructions that were originally provided for you. Do not change any comments made by a Kaplanassessor.

Units of competency

This oral assignment is your opportunity to demonstrate your competency against these units:

BSBPEF501 Manage personal and professional development

FNSCUS511 Develop and maintain professional relationships in financial services industry

FNSFMB411 Prepare loan application on behalf of clients

FNSFMB412 Identify client needs for and present broking options

FNSFMK515 Comply with financial services regulations and industry codes of practice

FNSINC411 Conduct work according to professional practices in the financial services industry

FNSINC412 Apply and maintain knowledge of financial products and services

BSBPEF402 Develop personal work priorities

FNSSAM403 Prospect for new clients

BSBOPS304 Deliver and monitor a service to customers

BSBOPS404 Implement customer service strategies

Note that the written and oral assignment is one of two assessments required to meet the requirements of the units of competency.We are here to help

If you have any questions, you can do the following steps:

1.Read the resources and watch the video about the oral assignment in your subject in KapLearn.

2.Post your query at the Ask your Tutor forum in your subject room. You can expect an answer within 24hours of your posting from one of our technical advisers or Course Coordinator.

Preparing for the oral assessment

In Parts 2 5 of this assignment, you will act as a broker and interact with a volunteer in a range of scenarios. You will be required to make audiorecordings of your discussions. In preparation for this assessment, it is helpful to prepare a list of resources and equipment you will need for these oral tasks.

Part 2: Case Study 1 Jennifer and Philip Brown

In this Part, you will participate in two role plays for a maximum time of 20 minutes. The role plays will be conducted by audiorecording. You will need a volunteer to assist you in the role plays.

For your volunteer, you need to select an appropriate person who is able to participate in the volunteer role criteria below. The volunteer needs to understand that thisis part of your assessment. Provide a copy of the Volunteer Guide in your KapLearn subject to your volunteer so they understand what they need to do in your assessment.

You will be assessed on the criteria listed below the task under assessor feedback. To demonstrate to your assessor that you meet the criteria, it is important that the interaction you undertake in your roleplay is realistic. Sowhile its recommended that you prepare in advance and follow the guidance provided in the roleplay instructions, please do not script or read your responses rather, allow the interaction to flow naturally.

When starting your role-play recording, ask your volunteer if they give permission to be included in the audio recording. The volunteer needs to agree verbally before the recording may continue.

Your volunteer cannot be a past or current student of this course with Kaplan.

See the Resources in your subject room in KapLearn to assist you in preparing for your role play.

Role play 1 Interviewing the client

In this role play, you will undertake an initial meeting with the new clients, Jennifer and Philip, for a maximum of 10 minutes.

The clients have come to your office to undertake this meeting. The intent of the meeting is to find out the essential information youll require to determine the clients needs and move forward with proposing loan option/s at the next stage of the loan process.

You may find the Fact Find document from the Written assignment (Task 17) helpful in completing this role play.

You will need to do the following during your discussion:

Greet and build rapport with Jennifer and Philip, the clients.

Explain your responsible lending disclosure obligations including providing Jennifer and Philip with the required documentation and explain its contents.

Use a form of technology in your presentation (i.e. refer to a website such as MoneySmart for further information, or make reference to an online calculator etc.).

Inform them of your role in the loan process, and your customer service standards (e.g. turnaround times, frequency of contact with them).

Inform them of your relationship with your primary list of lenders and the range of lending products that may be available to them (dependent on their needs). Include in your comments how you apply best interest duty obligations when considering the choice of lender. Explain to your customer that depending on their approval timeframes that not all lenders may be able to fulfil their requirements and objectives.

Provide Jennifer and Philip with information on broking fees and commissions and how these will be formally disclosed to them. Include in your comments how you put the best interests of the client before commission considerations.

Identify three (3) of their current loan-related needs and objectives, and also their future financial plans

Ask two (2) clarifying questions about their current and future needs to confirm you have understood their needs correctly.

Explain the short and long-term advantages and disadvantages of a fixed interest-rate loan.

Thank the client for bringing in all of the documents you listed in your email (e.g. bank statements, payslips, ID etc.), although the tax returns are not included. You need to ask your client for their tax returns. However, your client is hesitant about providing their tax returns as they are concerned about the lender knowing their tax file number. Help your client to understand why it is required and what protections you will provide to keep their personal data safe.

Conclude the interview appropriately, including advising next steps.

It is important to plan your dialogues, but do not script them word for word.

The assessment criteria you will be assessed on is in the table below.

Assessor checklist: Role play 1 - Interviewing the client

Assessor checklist completed after listening to the audio recording of the roleplay Demonstrated or Notyetdemonstrated

1 Used appropriate introduction and builds rapport Not yet demonstrated

2 Met responsible lending disclosure obligations, and advised clients of these (including explaining required documentation) Not yet demonstrated

3 Explained role of broker in loan process, and related service standards Not yet demonstrated

4 Advised of primary list of lenders and potential product availability to clients Not yet demonstrated

5 Provided information about broking fees and commissions to clients Not yet demonstrated

6 Established and confirm the clients needs, objectives and requirements, including both:

current (minimum of three (3) ascertained) and

future. Not yet demonstrated

7 Asked at least two (2) clarifying questions to confirm clients needs, objectives and requirements Not yet demonstrated

8 Correctly identified and explained advantages and disadvantages of a product feature (fixed interest-rate loan term) Not yet demonstrated

9 Confirmed the accuracy of information and documents provided Not yet demonstrated

10 Managed any client resistance or concerns Not yet demonstrated

11 Closed discussion appropriately, including advising next steps Not yet demonstrated

12 Utilised at least one (1) form of technology throughout discussion Not yet demonstrated

Student resubmission response (if required by assessor):

Assessor feedback Resubmission required?

No

Role play 2 Presenting the loan offer to Jennifer and Philip

In this role play, you will move forward to the next stage of Jennifer and Philips loan process. You will present the loan offer to the clients, Jennifer and Philip, for a maximum of 10 minutes.

The meeting is held in your office and follows on from Role play 1. Refer again to the Fact Find document from the Written assignment (Task 17).

The main objective of this meeting is for you to:

provide Jennifer and Philip with two (2) loan options from two (2) different lenders

make a recommendation on which product you believe meets their needs and objectives

allow the clients to ask questions.

During this meeting, you should focus on presenting your analysis of the couples current position, loanprospects, evaluation of product options, and your recommendation. Ensure you cover the following:

Open the meeting and ensure you maintain your rapport with the clients

In line with the National Credit Code (NCC) provide a brief overview of the following:

your understanding of the clients needs

their funds available to complete the purchase (use information from the Case Study in KapLearn).

Present two (2) different loan product options from two (2) different lenders to the clients

Then present an alternate loan structure to your client from the original proposal (e.g. a split loan).

Present the client with your recommended product from those youve presented and identify:

two (2) features of that product that meet your clients needs (i.e. the reason for your recommendation)

Identify and explain any risks associated with the loan that you think the client should be aware of (i.e. lender mortgage insurance or fixed rate loan).

In line with the National Credit Code (NCC) provide the client with the following information and confirm their understanding:

Loan term

interest rate

loan amount

fees and charges

Ask the client if they feel the product recommended is suitable for their needs, and allow them to ask three (3) questions about it respond to each question and offer a solution, alternative product, and/or a specialist if required.

Obtain agreement to proceed with an agreed loan product and provide the clients with the required terms and conditions and product disclosure statement.

Request additional documents to complete the application assume the client did not provide sufficient documentation (i.e. latest bank statement).

Obtain a signature on the application and privacy consent forms.

Explain the steps taken by the lender upon receipt of the application before formal approval can begranted.

Explain your customer service standards to follow up with the client.

There are no rules regarding the format of your presentation; however, it must be presented so that it is succinct and easily understood by clients. Please use the format that suits you this could include covering the detail you have prepared in a written proposal document. Its important to plan your dialogues, but do not script them word- for-word so that this is a natural delivery and conversation.

Note: As per the points above, the role play requires the volunteer to ask at least three (3) questions with suggested questions provided in the Volunteer Guide. However, the volunteer can ask other unrehearsed questions if they wish. Remember, you are not being judged on your acting ability (do not script your interaction allow the discussion to happen naturally). Your assessment is about how you communicate and interact with the client, and your understanding of the broking process. You may need to adjust your presentation of the proposal, depending on the time that the questions are asked. However, to manage time, you may wish to ask the volunteer to keep their questions until you have finished presenting your recommendations.

The assessment criteria you will be assessed on is in the table below.

Assessor checklist Role play 2 Presenting the loan offer

Assessor checklist completed after listening to the audio recording of the roleplay Demonstrated or Notyetdemonstrated

1 Opened meeting and maintained rapport with the client Not yet demonstrated

2 Provided brief overview of clients needs and current funds available Not yet demonstrated

3 Presented two (2) loan options from two (2) lenders Not yet demonstrated

4 Presented alternate loan structure Not yet demonstrated

5 Explained preferred loan option from those presented, and identified two (2) features which meet the clients needs and any potential risks clients should be aware of Not yet demonstrated

6 Provided the client with appropriate information and explained and confirmed understanding of:

loan term

interest rate

loan amount

fees and charges Not yet demonstrated

7 Confirmed loan suitability with client; responded to three (3) questions and recommended suitable actions Not yet demonstrated8 Obtained approval to proceed Not yet demonstrated9 Requested additional/updated documents Not yet demonstrated10 Obtained signatures on relevant forms Not yet demonstrated11 Explained lender procedures prior to approval Not yet demonstrated12 Explained customer service standards Not yet demonstratedStudent resubmission response (if required by assessor):

Assessor feedback: Resubmission required?

NoPart 3: Wes/Wendy Evans and solicitor (Bill/BelindaMoore)

You will participate in one (1) role play that includes four (4) phone calls for a maximum of 10 minutes intotal. The role play will be conducted by audiorecording. You will need a volunteer to assist you in the roleplay.

For your volunteer, you need to select an appropriate person who is able to participate and meets the volunteer role criteria below. The volunteer needs to understand that thisis part of your assessment. Provide a copy of the Volunteer Guide (located in your KapLearn subject room) to your volunteer so they understand what they need to do in your assessment. Note that your volunteer will play different roles as required throughout the calls.

You will not be assessed on your acting ability. You will be assessed on the criteria listed below in the Assessor feedback table. To demonstrate to your assessor that you meet the criteria, it is important that the interaction you undertake in your roleplay is realistic. Sowhile its recommended that you prepare in advance and follow the guidance provided in the roleplay instructions, please do not script or read your responses rather, allow the interaction to flow naturally.

When starting your role-play recording, ask your volunteer if they give permission to be included in the audio recording. The volunteer needs to agree verbally before the recording may continue.

Your volunteer cannot be a past or current student of this course with Kaplan.

Role play 3 Loan application outcome

You are required, as the broker to call your client, Wes/Wendy Evans (you/your volunteer may choose the name they prefer to use) and provide them with the outcome of their loan application.

Wes/Wendy applied for an investment home loan which was submitted to XYZ bank. You have just received a phone call from XYZ Bank who explained that the loan application has not been approved in its current structure.

Although XYZ was willing to accept the property offered as security, the Lenders Mortgage Insurance provider (separate to XYZ) would not accept due to its location at a loan to value ratio of 90% (LVR).

You are required to call the client and advise them of the non-offer by the lender and the reason why.

You are also required to offer a solution to the client to amend the structure of the application which may be more favourable to the lender.

The client has some equity in their home. Although they were originally reluctant in your previous discussions, you suggest that Wes/Wendy should consider offering their property as additional security for the loan. This will bring the LVR down to 80%, removing the need for Lenders Mortgage Insurance and saving Wes/Wendy approximately $10,000.

Call 1 Advise client of non-offer

Call Wes/Wendy, briefly introduce the reason for your call, then do the following:

Advise the reason for the non-offer on their loan application.

Provide the solution that you think will make the application more favourable.

The call concludes with Wes/Wendy asking you to contact their solicitor with an update on the status of the application.

Call 2 Call solicitor with update

Call your clients solicitor, Belinda/Bill Moore (your volunteer may choose name), introduce yourself, and do the following:

Explain the reason for the non-offer by the lender

Outline the additional actions agreed between you and the client as per Call 1.

Call 3 Advise approval and seek additional information from client

Call the client Wes/Wendy Evans, and do the following:

Advise that their loan has been approved as per the amended loan structure.

Explain that the lender requires further information (a copy of Wes/Wendys building insurance for both properties) and explain that this is a requirement that will be outlined in their credit contract.

Call 4 Advise solicitor of readiness to settle

The loan has progressed, loan contracts have been signed and sent back to the lender. You have gained confirmation from the lender that all documents are now in order.

Call Belinda/Bill Moore again (Wes/Wendys solicitor), and do the following:

advise that all parties are now ready to settle

advise the solicitor that the lender will be in contact to make suitable arrangements for settlement.

The assessment criteria you will be assessed on is in the table below. Its important to develop a plan for your dialogues, but do not script them word-for-word, this is to be delivered naturally as you would in the workplace.

Assessor checklist Role play 3 Loan application outcome

Assessor checklist completed after listening to the audio recording of the roleplay Demonstrated or Notyetdemonstrated

1 Call 1 Notified client of non-offer, including reason Not yet demonstrated

2 Provided solution to make the application more favourable Not yet demonstrated

3 Call 2 Explained the reason for the non-offer by the lender Not yet demonstrated

4 Outlined the additional actions agreed between you and the client as per Call 1 Not yet demonstrated

5 Call 3 Advised that loan has been approved as per the amended loan structure. Not yet demonstrated

6 Explained the further information required and why Not yet demonstrated7 Call 4 Communicate confirmation that all parties are ready to settle to the client and conveyancer/solicitor, and makes arrangements for settlement Not yet demonstratedStudent resubmission response (if required by assessor):

Assessor feedback: Resubmission required?

NoPart 4: Case Study 3 Ravi and Alice Patel

In this Part, you will participate in one (1) role play for a maximum time of 5 minutes. The role play will be conducted by audiorecording. You will need a volunteer to assist you in the role play.

For your volunteer, you need to select an appropriate person who is able to participate in the volunteer role criteria below. The volunteer needs to understand that thisis part of your assessment. Provide a copy of the Volunteer Guide in your KapLearn subject to your volunteer so they understand what they need to do in your assessment.

You will not be assessed on your acting ability. You will be assessed on the criteria listed below the task under assessor feedback. To demonstrate to your assessor that you meet the criteria, it is important that the interaction you undertake in your roleplay is realistic. Sowhile its recommended that you prepare in advance and follow the guidance provided in the roleplay instructions, please do not script or read your responses rather, allow the interaction to flow naturally.

When starting your role-play recording, ask your volunteer if they give permission to be included in the audio recording. The volunteer needs to agree verbally before the recording may continue.

Your volunteer cannot be a past or current student of this course with Kaplan.

See the Resources in your subject room in KapLearn to assist you in preparing for your role play.

Role play 4: Loan process debrief and feedback

In Task 23 of the Written Assignment you provided Ravi and Alice Patel with a loan to purchase a residential investment property.

Following the loan settlement and in keeping with good customer service practice, you are going to call Ravi and Alice to discuss their feedback on you as their broker, and address any questions or concerns they may have. You are also required to ask if theyre satisfied with their loan products.

You will be required to make a proactive call to Ravi and Alice Patel to:

debrief your service throughout the application and settlement process by asking questions, listening and responding appropriately

Ask Ravi and Alice if theyre satisfied with their loan products

explain the post-broking service that you will/can provide to them (e.g. ability to refer them to other specialists, conduct annual review to check the client is still getting competitive rates/fees).

Remember that you can make notes and practice but this is natural conversation and should not be scripted.

The assessment criteria you will be assessed on is in the table below.

Assessor checklist Role play 4: Loan process debrief and feedback

Assessor checklist completed after listening to the audio recording of the role play Demonstrated or Not yet demonstrated

1 Maintained rapport with clients Not yet demonstrated

2 Debriefed with clients post-implementation using suitable communication skills Not yet demonstrated

3 Define post-broking services to be provided and communicate to clients Not yet demonstrated

Student resubmission response (if required by assessor):

Assessor feedback: Resubmission required?

NoPart 5: Communicating with colleagues and stakeholders

You will participate in two (2) short role plays for a maximum of 10 minutes. The role plays must be conducted by audiorecording and include three (3) meetings and two (2) phone calls. You will need a volunteer to assist you in the role-plays.

For your volunteer you need to select an appropriate person who is able to participate in the volunteer role criteria below. The volunteer needs to understand that thisis part of your assessment. Provide a copy of the Volunteer Guide in your KapLearn subject to your volunteer so they understand what they need to do in your assessment.

You will be assessed on the criteria listed below under the student role. To demonstrate to your assessor that you meet the criteria, it is important that the interaction you undertake in your roleplay is realistic. Sowhile its recommended that you prepare in advance and follow the guidance provided in the roleplay instructions, please do not script or read your responses rather, allow the interaction to flow naturally.

Before starting your role-plays, ask your volunteer if they give permission to be included in the audio recording. The volunteer needs to agree verbally before the recording may continue.

Role play 5: Colleague and manager interactions

In your role as a mortgage broker, the ability to work effectively with colleagues is important for the smooth running of a business.

In this role play, you are playing the role of either a loan administrator or a mortgage broker. You will be involved in a range of meetings and phone calls with your manager and colleagues, which your volunteer will play.

Its important to develop a plan for your dialogues, and practice with your volunteer but do not script them word-for-word.

Meeting 1 Manager Meeting

You are to conduct a short meeting with your manager (your volunteer) to discuss the priority of three (3) client files and a report that is due for submission soon.

The purpose of the meeting is for you to prioritise and negotiate your workload with your manager, and how the tasks will be met. You need to show you understand the possible conflicting priorities and negotiate solutions. Note that there is some capacity to discuss delegating work to other colleagues, however, consider what might be reasonable the work is primarily your responsibility as you hold the relationship with the clients.

Workload items:

Client file A is at documentation stage and is due to settle in 15 days.

Client file B is at approval stage and is due to settle in 30 days (you will be on annual leave when this happens).

Client file C has had the initial client meeting and is due to settle in 45 days. A recommendation needs to be prepared and a second meeting with the client is required urgently so as the application process can begin.

Your quarterly Client Prospecting Report is due in two days, and the timeframe is not negotiable.

At the end of the meeting, the following items were discussed and agreed with your manager:

Outcome 1

You and your manager agree that your colleague may be delegated some work (your manager is comfortable for you and your colleague to agree between you what task that may be). You will conduct a meeting with your colleague to discuss what task they might help you with.

Outcome 2

Your manager informed you that the target for the following month has been increased from 8 to 10 home loan applications submitted per credit representative/broker. Your manager is going on leave the following day for two weeks. There is a team meeting scheduled and your manager asked you to conduct that meeting on their behalf to inform the team, and provide some training to the team on a chosen topic.

Meeting 2 Colleague Meeting

Following on from Meeting 1, you are now going to meet with your colleague (your volunteer), also a credit representative/mortgage broker. The purpose of this meeting is to delegate a work task (you agreed this with your manager in Meeting 1 Outcome 1).

Once you have negotiated which work task your colleague will take on, your colleague asks you for some assistance with their role.

Your colleague advises you that they are struggling to achieve the required Continuous Professional Development (CPD) points for the year. They have asked you to provide them with two (2) workshops that you think will assist them to improve in their role, as well as satisfy two (2) CPD points.

Meeting 3 Team meeting

Following on from Meeting 1, now that you have allocated some work to your colleague (addressing Outcome1), you are now going to conduct the team meeting requested by your manager (Outcome 2).

The agenda is as follows:

Item 1 Loan application target for next month

You are to advise the team of the increase in their monthly loan application target for the following month, from 8 to 10 per month. Provide the team with one (1) strategy to achieve this target and encourage one other team member (your volunteer) to provide one (1) strategy. Praise and thank the team member for their idea.

Ask the team if there are any questions and respond appropriately, then move on to the next agenda item.

Item 2 The weekly training topic: Buyer resistance, conflict resolution and persuasion techniques

This topic has been raised several times over the last month and has been chosen for this months training session.

Provide your colleagues with two (2) reasons for resistance they may encounter when closing a sale with clients and one (1) suggestion for overcoming resistance (check the Volunteer guide to ensure you do not provide the same suggestion that is outlined for the Volunteer).

Then seek suggestions from your colleagues. One of your colleagues (your volunteer) will offer a suggestion. If you believe it is correct, acknowledge this and praise them for their response; if not, then you should provide a correct suggestion for overcoming resistance.

Thank the team for their attendance and contribution.

The assessment criteria you will be assessed on is in the table below.

Assessor checklist Role play 5: Colleague and manager interactions

Assessor checklist completed after listening to the audio recording of the roleplay Demonstrated or Notyetdemonstrated

1 Meeting 1 Prioritised and negotiated workload with manager, showing understanding of timing and possible conflicts in workload items, and gained agreement to delegate some work to colleague Not yet demonstrated

2 Meeting 2 Agreed and delegated appropriate work item/s to colleague Not yet demonstrated

3 Provided two (2) workshops worth two (2) CPD points Not yet demonstrated

4 Meeting 3 Advised team of increase in their monthly loan application target Not yet demonstrated

5 Provided the team with one (1) strategy to achieve this target Not yet demonstrated

6 Encouraged team member to provide one (1) strategy and responded appropriately Not yet demonstrated

7 Asked the team if there are any questions and responded appropriately Not yet demonstrated

8 Provided team with two (2) reasons for resistance they may encounter when closing a transaction with clients and one (1) suggestion for overcoming resistance (not the same one as volunteer) Not yet demonstrated

Student resubmission response (if required by assessor):

Assessor feedback: Resubmission required?

NoRole play 6: Other stakeholder interactions

In your role as a mortgage broker, the ability to communicate effectively and stakeholders will play an important role in the success of a business.

In this role play, you are playing the role of either a loan administrator or a mortgage broker. You will be involved in a range of phone calls with other stakeholders common in the broking industry.

To demonstrate to your assessor that you meet the criteria, it is important that the interaction you undertake in your roleplay is realistic. Sowhile its recommended that you prepare in advance and follow the guidance provided in the roleplay instructions, please do not script or read your responses rather, allow the interaction to flow naturally.

Phone Call 1 Real Estate office

You are to make a call to the local real estate office and try to establish a working relationship with the view of gaining client referrals from them.

During the call you are to cover the following:

Introduce yourself and the business you represent

Provide the reason for your call

Discuss how you can work together (Hint: think about the potential benefits your working relationship might provide to the agent, and also the benefits to you what can you do for each other?)

Advise the real estate agent of the following:

the types of products and services that your brokerage firm can assist with

the role your brokers play in assisting the client.

End the call with an agreed follow-up call timeframe (allow your volunteer to advise what this is).

Phone Call 2 New client from referral source

You have just interviewed a client that was referred to you by a new referral source. The meeting went well, and the client has decided to proceed with a loan.

Make a call to the referrer to thank them for the referral, and to develop and nurture the relationship for future client referrals.

You should cover the following during the call:

Introduce yourself and the business you work for.

Continue to build upon the rapport already established with the referrer.

Explain how you would want to develop the referral relationship going forward.

When you thank the referrer for the referral, they ask you whether you think the client will be able to get a loan and how much do you think they can borrow. Respond to the question appropriately, ensuring you maintain client confidentiality.

End the call on a positive note.

The assessment criteria you will be assessed on is in the table below.

Assessor checklist Role play 6: Other stakeholder interactions

Assessor checklist completed after listening to the audio recording of the roleplay Demonstrated or Notyetdemonstrated

1 Call 1 Introduced self and reason for call Not yet demonstrated

2 Discussed potential working relationship Not yet demonstrated

3 Advised the real estate agent of types of products and services that your brokerage firm can assist with, and the role your brokers play in assisting the client. Not yet demonstrated

4 Ended the call with an agreed follow-up timeframe Not yet demonstrated

5 Call 2 Introduced self and business Not yet demonstrated

6 Built on relationship with the existing referrer Not yet demonstrated

7 Discussed further development of the relationship Not yet demonstrated

8 Maintained confidentiality throughout discussion Not yet demonstrated

9 Ended call positively Not yet demonstrated

Student resubmission response (if required by assessor):

Assessor feedback: Resubmission required?

No