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4 Dec
2019

FNSFMB504 Implement complex loan structures – NO PLAGIARISM

RIO NameRIO LogoRIO NoStudent Assessment TasksFNSFMB504 Implement complex loan structuresTable of ContentsTable of Contents 2Assessment Information 3Assessment Instructions 5Student Assessment Agreement 6Assessment Task 1 Cover Sheet 7Assessment Task 1: Written Questions 8Assessment Task 1 Instructions 10Assessment Task 1 Checklist 12Assessment Task 2 Cover Sheet 13Assessment Task 2: Loan qualification activities project 14Assessment Task 2 Instructions 16Assessment Task 2 Checklist 2112/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 3/14Assessment InformationThe assessment tasks for FNSFMB504 Implement complex loan structures are included in this StudentAssessment Tasks booklet and outlined in the assessment plan below.To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily.Assessment PlanAssessment Task Overview1. Written questions You must correctly answer all questions.2. Loan qualification activities project You are required to assist a client to qualify for a residentialinvestment loan. This includes planning the actions that should be undertaken and co-ordinating theprocess.Assessment PreparationPlease read through this assessment thoroughly before beginning any tasks. Ask your assessor forclarification if you have any questions at all.When you have read and understood this unit’s assessment tasks, print out the Student AssessmentAgreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.Assessment appealsIf you do not agree with an assessment decision, you can make an assessment appeal as per your RTO’sassessment appeals process.You have the right to appeal the outcome of assessment decisions if they feel they have been dealt withunfairly or have other appropriate grounds for an appeal.Naming electronic documentsIt is important that you name the documents that you create for this Assessment Task in a logical manner.Each should include:· Course identification code· Assessment Task number· Document title (if appropriate)· Student name· Date it was createdFor example, FNSFMB504 AT2 Implementation Report Joan Smith 20/10/18Additional ResourcesYou will be provided with the following resources before you begin Assessment Task 2.· Client Information· Fees and Charges· Implementation Report Template· Agreement to Proceed Template· Loan Fees and Charges Template· House PlansAssessment InstructionsEach assessment task in this booklet consists of the following: Assessment Task Cover SheetThis must be filled out, signed and submitted together with your assessment responses.If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission.If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this andsubmit the file.The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which willbe satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, yourassessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Yourassessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 4/14your RTO’s re-assessment policy.Depending on the task, this may include· resubmitting incorrect answers to questions (such as short answer questions and case studies)· resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task· redoing a role play after being provided with appropriate feedback about your performance· being observed a second (or third time) undertaking any tasks/activities that were not satisfactorilycompleted the first time, after being provided with appropriate feedback.Assessment Task InformationThis gives you:· a summary of the assessment task· information on the resources to be used· submission requirements· re-submission opportunities if requiredAssessment Task InstructionsThese give questions to answer or tasks which are to be completed.Your answers need to be typed up using software as indicated in the Assessment Task Instructions.Copy and paste each task’s instructions into a new document and use this as the basis for your assessmenttask submission. Include this document’s header and footer.If you are submitting electronically, give the document a file name that includes the unit identificationnumber, the task number, your name and the date.ChecklistThis will be used by your assessor to mark your assessment. Read through this as part of your preparationbefore beginning the assessment task. It will give you a good idea of what your assessor will be lookingfor when marking your responses.Student Assessment AgreementMake sure you read through the assessments in this booklet before you fill out and sign the agreementbelow.If there is anything that you are unsure of, consult your assessor prior to signing this agreement.Have you read the assessment requirements for this unit? El Yes El NoDo you understand the requirements of the assessments for this unit? El Yes El NoDo you agree to the way in which you are being assessed? El Yes El NoDo you have any specific needs that should be considered? El Yes El NoIf so, explain these in the space below.Do you understand your rights to re-assessment? El Yes El NoDo you understand your right to appeal the decisions made in an assessment? El Yes El NoStudent nameStudent numberStudent signatureDateAssessor nameAssessor signatureDateAssessment Task 1 Cover SheetStudent DeclarationTo be filled out and submitted with assessment responsesfl I declare that this task is all my own work and I have not cheated or plagiarised the work or colludedwith any other student(s).fl I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken againstme according to the process explained to me.fl I have correctly referenced all resources and reference texts throughout these assessment tasks.12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 5/14Assessor declarationfl I hereby certify that this student has been assessed by me and that the assessment has been carried outaccording to the required assessment procedures.Assessor nameAssessor signatureDateAssessment outcome S NS DNS Resubmission Y NFeedbackStudent result responsefl My performance in this assessment task has been discussed and explained to me. fl I would like toappeal this assessment decision.Student signatureDateA copy of this page must be supplied to the office and kept in the student’s file with the evidence.Assessment Task 1: Written QuestionsTask summaryThis is an open book test, to be completed in the classroom.A time limit of 1.5 hours to answer the questions is provided.You need to answer all of the written questions correctly.Your answers must be word processed and sent to the assessor as an email attachment.Required• Access to textbooks/other learning materials • Computer and Microsoft Office• Access to the internetTimingYour assessor will advise you of the due date of this assessment.Submit• Answers to all questionsAssessment criteriaAll questions must be answered correctly in order for you to be assessed as having completed the tasksatisfactorily.Re-submission opportunitiesYou will be provided feedback on their performance by the Assessor. The feedback will indicate if youhave satisfactorily addressed the requirements of each part of this task.If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide youwritten feedback along with guidance on what you must undertake to demonstrate satisfactoryperformance. Re-assessment attempt(s) will be arranged at a later time and date.You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt withunfairly or have other appropriate grounds for an appeal.You are encouraged to consult with the assessor prior to attempting this task if you do not understand anypart of this task or if you have any learning issues or needs that may hinder you when attempting any partof the assessment.Written answer question guidanceThe following written questions use a range of “instructional words” such as “identify” or “explain”,which tell you how you should answer the question. Use the definitions below to assist you to provide thetype of response expected.Note that the following guidance is the minimum level of response required.Analyse – when a question asks you to analyse something, you should do so in in detail, and identifyimportant points and key features. Generally, you are expected to write a response one or two paragraphslong.12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 6/14Compare – when a question asks you to compare something, you will need to show how two or morethings are similar, ensuring that you also indicate the relevance of the consequences. Generally, you areexpected to write a response one or two paragraphs long.Contrast – when a question asks you to contrast something, you will need to show how two or more thingsare different, ensuring you indicate the relevance or the consequences. Generally, you are expected towrite a response one or two paragraphs long.Discuss – when a question asks you to discuss something, you are required to point out important issues orfeatures and express some form of critical judgement. Generally, you are expected to write a response oneor two paragraphs long.Describe – when a question asks you to describe something, you should state the most noticeable qualitiesor features. Generally, you are expected to write a response two or three sentences long.Evaluate – when a question asks you to evaluate something, you should do so putting forward argumentsfor and against something. Generally, you are expected to write a response one or two paragraphs long.Examine – when a question asks you to examine something, this is similar to “analyse”, where you shouldprovide a detailed response with key points and features and provide critical analysis. Generally, you areexpected to write a response one or two paragraphs long.Explain – when a question asks you to explain something, you should make clear how or why somethinghappened or the way it is. Generally, you are expected to write a response two or three sentences long.Identify – when a question asks you to identify something, this means that you are asked to brieflydescribe the required information. Generally, you are expected to write a response two or three sentenceslong.List – when a question asks you to list something, this means that you are asked to briefly stateinformation in a list format.Outline – when a question asks you to outline something, this means giving only the main points,Generally, you are expected to write a response a few sentences long.Summarise – when a question asks you to summarise something, this means (like “outline”) only givingthe main points. Generally, you are expected to write a response a few sentences long.Assessment Task 1 InstructionsProvide answers to all of the questions below:1. Explain the key features of commercial loans.2. Explain the key features of chattel leases3. What rights are given by The Native Title Act 1993 to Indigenous Australians who hold native titlerights or who have made a native title claim?4. Identify and explain the key features of heritage issues in mortgage broking.5. Identify and explain the key features of loans for contaminated sites or properties near noxiousindustries6. Explain the implications of borrowing against leased premises.7. Explain the implications of clients using multiple securities of differing kinds8. Explain the implications of clients borrowing against rural land9. Explain the implications of specialised securities such as hotels10. Identify the forms of security to be taken for the assignment of rental income to the lender11. Identify the forms of security to be taken for joint and several personal or related company guaranteesFNSFMB504 Implement complex loan structures Student Assessment Tasks12. Identify forms of security to be taken for multiple mortgages13. Identify forms of security to be taken for registered company charges14. Identify forms of security to be taken for second mortgages15. Identify forms of security to be taken for the involvement of unit or family trusts as either borrowersor guarantors16. Discuss the document requirements for disclaimers12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 7/1417. Discuss the document requirements for disclosures18. Discuss the document requirements for insurance policies19. If a client comes to a mortgage broker with a prospectus to borrow money to invest, what should thebroker’s response be?20. For what is a Receipt of Deposit receipt required?21. Give three important features of written advice given to a client by a mortgage broker22. Outline the key features of relevant legislation including state and territory legislation, charges andtaxes23. Discuss time management techniques and tools to support implementation process.Assessment Task 1 ChecklistStudent’s name:Did the student provide a sufficient and clear answer that addresses the suggested answer for thefollowing? Completed successfully CommentsYes NoQuestion 1Question 2Question 3Question 4Question 5Question 6Question 7Question 8Question 9Question 10Question 11Question 12Question 13Question 14Question 15Question 16Question 17Question 18Question 19Question 20Question 21Question 22Question 23Task Outcome: Satisfactory • Not Satisfactory •Assessor signatureAssessor nameDateAssessment Task 2 Cover SheetStudent DeclarationTo be filled out and submitted with assessment responsesfl I declare that this task is all my own work and I have not cheated or plagiarised the work or colludedwith any other student(s).fl I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken againstme according to the process explained to me.fl I have correctly referenced all resources and reference texts throughout these assessment tasks.Assessor declaration12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 8/14fl I hereby certify that this student has been assessed by me and that the assessment has been carried outaccording to the required assessment procedures.Assessor nameAssessor signatureDateAssessment outcome S NS DNS Resubmission Y NFeedbackStudent result responsefl My performance in this assessment task has been discussed and explained to me. fl I would like toappeal this assessment decision.Student signatureDateA copy of this page must be supplied to the office and kept in the student’s file with the evidence.Assessment Task 2: Loan qualification activities projectTask summaryStudents are required to assist a client to qualify for a construction loan. This includes planning the actionsthat should be undertaken and co-ordinating the process.This assessment is to be completed in the simulated work environment in the RTO.Required· Access to textbooks/other learning materials· Computer with Microsoft Office and internet access· Client Information· Fees and Charges· Implementation Report Template· Agreement to Proceed Template· Loan Fees and Charges Template· House PlansTimingYour assessor will advise you of the due date of these submissions.Submit· Email with Construction Loan Implementation Report and Agreement to Proceed attached· Email with signed Agreement to Proceed attached· Email requesting notification when the Development Application has been approved.· Email with the House Plans attached· Email with the House Plans attached· Email with the following attached:o Development Application Approvalo House Planso Fixed Price Building Contract· Email summarising the actions that will have to be undertaken next· Email requesting notification when the settlement has taken place· Email requesting that the client notifies the building company to begin the first stage of construction.· Email giving information on loan changesAssessment criteriaFor your performance to be deemed satisfactory in this assessment task, you must satisfactorily address allof the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to completefurther assessment to demonstrate competence.Re-submission opportunitiesYou will be provided feedback on their performance by the Assessor. The feedback will indicate if you12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 9/14have satisfactorily addressed the requirements of each part of this task.If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide youwritten feedback along with guidance on what you must undertake to demonstrate satisfactoryperformance. Re-assessment attempt(s) will be arranged at a later time and date.You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt withunfairly or have other appropriate grounds for an appeal.You are encouraged to consult with the assessor prior to attempting this task if you do not understand anypart of this task or if you have any learning issues or needs that may hinder you when attempting any partof the assessment.FNSFMB504 Implement complex loan structures Student Assessment TasksAssessment Task 2 InstructionsCarefully read the following:Cheryl and Anthony Weber are taking out a construction loan, so they can build their new home. Theyhave found the block of land and they’ve had an initial conversation with two different builders. Theyhave never built it is all new to them. They are happy to receive as much support in the process aspossible.They are both busy with their work and have decided that whichever builder they use, they will getassistance from the building company to assist with project management.The land is going to cost $200 000 and the build will cost $250 000. They have a deposit of $180 000which is partly from savings and assisted by a non-repayable parental gift.They are confident they can afford the repayments as they will be only slightly dearer than their currentrental costs.Their loan application for an ANZ Residential Investment Land Loan with Breakfree discounts has beensubmitted, and they are coming to a meeting with you to look at what happens next.They already have a plan for the building and have submitted a Development Application to the council.Complete the following activities:1. Prepare for the meeting with the clientsTo ensure that you are ready to answer all of the clients’ questions, you are required to write aConstruction Loan Implementation ReportStart by reviewing the special and complex features of construction loans.Review the clients’ situation and what implications that will have on the loan’s implementation.Summarise the implementation actions that are to be carried out. For each action, give an approximatetiming.If any actions require a higher priority that the others, make a note of this. If each action is dependent onthe preceding action, then this should be noted.Establish monitoring procedures that will ensure that implementation timing and priorities are adhered to.Use the Implementation Report Template to guide your work.2. Obtain and calculate fees and charges.Calculate how much the fees and charges are, who they are payable to, what they are for, and a what stageof the process they are due.Use the Loan Fees and Charges Template to guide your work.FNSFMB504 Implement complex loan structures Student Assessment Tasks3. Prepare the agreement to proceed.Using the Agreement to Proceed Template, prepare the agreement so that the client can sign it at the endof the meeting. Use your Construction Loan Implementation Report to guide this. It should list the actionsthat the broker will be carrying out for the client.Print out a copy of the agreement to take to the meeting with you.4. Send an email to your assessor.The text of the email should be in grammatically correct English, written in an appropriate (polite,12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 10/14business-like) style.It should introduce and summarise the contents of the attachment and ask for the place, date and time ofthe meeting with the clients.Attach your Construction Loan Implementation Report and Agreement to Proceed to the email.5. Meet with the clientsAfter introducing yourself, you are required to review the steps involved in building a house witha construction loan. Confirm that the activities are consistent with the clients’ needs.Clearly explain the implementation actions that the client will be required to perform. Describe theinterdependency of the actions, and how long they can be expected to take. Explain how the timing of thebuilding stages payments maximises the client’s advantage.Describe how the actions will be monitored and where you will be providing assistance.Explain the fees and charges as set out in your Loan Fees and Charges document, ensuring that the clientunderstands what is to be paid when.During the meeting, you are required to demonstrate effective communication skills including:• Speaking clearly and concisely• Using non-verbal communication to assist with understanding• Asking questions to identify required information• Responding to questions as required• Using active listening techniques to confirm understandingBefore concluding the meeting, you are required to obtain the clients’ written agreement to theimplementation actions. Ask them to sign your Agreement to Proceed.6. Send an email to the Branch Manager (your assessor).Morgan Mortgages’ organisational procedures state that a copy of all reports and agreements to proceedshould be sent to the Branch Manager for record keeping purposes.The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.It should introduce and summarise the contents of the attachments.Attach your signed Agreement to Proceed to the email.FNSFMB504 Implement complex loan structures Student Assessment TasksYou receive notification from the lender that conditional approval has been given for the loan.Final approval is dependent on the receipt of a valuer report on the land to be purchased and a fixed pricebuilding contract from the building company.7. Send an email to the clients (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.It should introduce and summarise the actions that they are required to undertake. Come back with the DA8. Send an email to the land valuer (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.It should introduce and summarise the actions that they are required to undertake. Attach the House Plansto the email.9. Send an email to the building company (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.It should introduce and summarise the actions that they are required to undertake. Attach the House Plansto the email.10. Send an email to the lender (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.It should introduce and summarise the contents of the attachments and ask to be notified when final12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 11/14approval has been given.Attach the following to the email:• Approved Development Application• House Plans• Fixed Price Building Contract• Valuation ReportYou receive notification from the lender that they have received your submissions and approval has beengiven for the loan.11. Send an email to the clients (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.The email text should summarise the actions that will have to be undertaken in the next stage of theproject.12. Send an email to the solicitor (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.It should give confirmation of the loan approval amount and request that they organise settlement of theland with lender.You should ask to be contacted when the settlement has taken place.13. Send an email to the client (your assessor).When you have received notification of settlement from the solicitor, requesting that the clients notify thebuilding company and request that they begin Stage 1.The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.FNSFMB504 Implement complex loan structures Student Assessment TasksIt is four months later, and the house has been completed. The clients will be moving in over the nextweekend.You receive the following email from the clients Hi Mortgage Broker.Thank you for all your help during the construction of our investment property. We couldn’t have done itwithout you.I have one concern, which I am sure that you can clear up. Now that the house has been built and everyonehas been paid their fees, I am not sure that we are paying the lowest possible rate. Can we change our loanover to another one with the same lender now?Please check that and come back to me with any suggestions. Regards,Mr. and Mrs. Weber14. Research whether the client’s loan can be changed.Use the internet (you may use the chat function on the ANZ website) to determine whether the clients canchange their loan to another with lower interest payments.Then find a loan from the same lender that would have cheaper repayments that the construction loan thatthey have had until now.Calculate what those monthly repayments would be and compare this to the repayments that the client has.15. Send an email to the client (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite,business-like) style.The text of the email should give them the information that they have requestedAssessment Task 2 ChecklistStudent’s name:Did the student: Completed successfully Comments12/4/2019 52523 – RIO NameRIO LogoRIO NoStudent Assessmenthttps://www.australiabesttutors.com/Recent_Question/52523/RIO-NameRIO-LogoRIO-NoStudent-Assessment-TasksFNSFMB504 12/14Yes NoReview special or complex features of the clients’ situation that may have implications for theimplementation activities?Prioritise implementation actions if required and give an approximate timing for each action?Establish monitoring procedures for critical implementation activities timing and dependencies?Complete internal and external documentation requirements?During the meeting, confirm that the implementation activities are consistent with the clients’ needs?During the meeting, explain implementation actions to the client clearly?During the meeting, obtain the clients’ written agreement to perform the actions?During the meeting, demonstrate effective communication skills including:• Speaking clearly and concisely• Using non-verbal communication to assist withunderstanding• Asking questions to identify required information• Responding to questions as required• Using active listening techniques to confirmunderstandingIssue instructions to internal personnel as required?Implement actions that maximise advantages for the clients?Identify and brief personnel to implement each action for the construction loan process?Debrief the client after some actions had been implemented and address any concerns?Coordinate implementation actions that involve actions by other professionals?Maintain consultation and monitoring with other professionals where joint implementation action isrequired?Check and follow up on lodgement of documentation to ensure that plan timings are met?Calculate the fees and charges that will apply to the selected loan?Task Outcome: Satisfactory • Not Satisfactory •Assessor signatureAssessor name

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