FNSFMB504 Implement Complex Loan Structures Assessment Answer

pages Pages: 4word Words: 890

Question :

FNSFMB504 IMPLEMENT COMPLEX LOAN STRUCTURES

ASSESSMENT INFORMATION 

Throughout your training we are committed to your learning by providing a training and assessment framework that ensures the knowledge gained through training is translated into practical on the job improvements. 

You are going to be assessed for: 

  • Your skills and knowledge using written and observation activities that apply to the workplace.
  • Your ability to apply your learning.
  • Your ability to recognise common principles and actively use these on the job.

All of your assessment and training is provided as a positive learning tool. Your assessor will guide your learning and provide feedback on your responses to the assessment materials until you have been deemed competent in this unit.

written activity 

Relevant Legislation. 

Identify and outline the key features of the legislation relevant to the implementation of complex loan structures, including all relevant state and territory legislation, charges and taxes. 

This task must be completed within 30 minutes.  

Complex Features of a Client Situation and Needs.

Explain each of the following types of complex features that you may encounter in a client’s situation or needs:

  1. Commercial loans.
  2. Chattel leases.
  3. Native title rights.
  4. Heritage issues.
  5. Contaminated sites or properties near noxious industries.

This task must be completed within 30 minutes.

Complex Nature of Securities to Be Taken. 

Explain the complex nature of the following:

  1. The implications of borrowing against leased premises.
  2. Multiple securities of differing kinds.
  3. Rural land.
  4. Specialised securities (such as hotels).

This task must be completed within 30 minutes.

Forms of Security to Be Taken For Complex Loan Structures. 

Explain the following forms of security that are to be taken for complex loan structures:

  1. The assignment of rental income to the lender.
  2. Joint and several personal or related company guarantees.
  3. Multiple mortgages.
  4. Registered company charges.
  5. Second mortgages.
  6. The involvement of unit or family trusts as either borrowers or guarantors.

This task must be completed within 30 minutes.  

Third Party Report

Supervisor Instructions:

For this assessment, the student must complete the activity. 

The practical activity is a stand-alone activity that will allow the student to display the required knowledge and skills that are essential when deciding overall competency. Please sign and date this checklist to evidence the student having completed the task.

Student Instructions:

Arrange a time to complete the activity and have your supervisor observe you undertaking the activity. You should submit the completed and signed checklist with your assessment for this 

unit of competency.

The following task must be demonstrated in conditions that are safe and replicate the workplace. Noise levels, production flow, interruptions and time variances must be typical of those experienced in the tax (financial) advice services field of work and include access to:

  • Office equipment, technology, software and consumables
  • Relevant legislation, regulations and codes of practice

For this task you are to complete the following steps The following task must be completed in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the finance and mortgage broking field of work and include access to:

  • Office equipment, technology, software and consumables.
  • Financial services product information.
  • Specialist software and data.

For this task you are to complete the following steps to implement a complex loan structure on at least 1 occasion.

Complete the following steps to organise the implementation actions:

  1. Review the special or complex features of at least one clients situation for any implementation implications, including any high asset, income or expenditure requirements, any complex taxation, the nature and forms of securities to be taken, as well as any other legal or complex issues. Provide a copy of you review for this activity.
  2. Prioritise the implementation actions, planning the timing for each action and confirming that the activities are consistent with the needs and specifications of the client, and with legislation, industry regulations, organisational requirements and codes of practice. Provide a copy of the implementation plan and the method used to confirm the plan with your client.
  3. Clearly explain the implementation actions required by the client,  and obtain written agreement from the client to proceed with the actions and establish the implementation records. Provide a copy of the written agreement.
  4. Implement the actions, using timing and priority to maximise the advantage for the client.

Perform the following steps to establish the appropriate procedures for implementation:

  1. Identify the relevant personnel, and brief them on the implementation of each action for loan structure, and on the completion of all internal and external documentation requirements. Provide a written outline of the information provided to relevant personnel.
  2. Effectively coordinate the implementation actions that depend on or involve actions by other professionals. Outline any professionals involved in the process.
  3. Establish the monitoring procedures that will be used for monitoring the critical implementation timing and priorities. Outline the monitoring methods used in the process.

Complete the following steps to undertake and/or supervise implementation:

  1. Brief the client on the actions that are to be undertaken, and, where needed, provide assistance.
  2. As per the loan structure, issue instructions to internal and external personnel. Include the instructions provided.
  3. Where joint implementation is required, maintain consultation and monitoring with the other professionals, and check and follow up on the lodgement of documentation to ensure that the planned timings are met. Outline whether joint implementation was required.
  4. Obtain and process the fees and charges, in accordance with all organisational and legislative requirements. Outline the fees and charges required.
  5. Post-implementation, debrief the client and address any concerns that are raised. Provide a brief outline of the items discussed in the debriefing.

After you have successfully completed the above steps to implement a complex loan structure, you will need to sit down with your assessor and discuss:

  1. Any of the following complex features of the client situation:
    1. Commercial loans.
    2. Chattel leases.
    3. Native title rights.
    4. Heritage issues.
    5. Contaminated sites or properties near noxious industries.
  2. Any of the following forms of security taken for complex loan structures:
    1. Assignment of rental income to the lender.
    2. Joint and several personal or related company guarantees.
    3. Multiple mortgages.
    4. Registered company charges.
    5. Second mortgages.
    6. The involvement of unit or family trusts as either borrowers or guarantors.
  3. The key features of the legislation relevant to the task completed, including state and territory legislation, charges and taxes.
  4. Time management techniques and tools used to support the implementation process.

Research Task and Written/Oral Questions

Short Answers are required which is approximately 4 typed lines = 50 words, or 5 lines of handwritten text.

Your assessor will take down dot points as a minimum if you choose to answer them verbally.

Answer the following questions either verbally with your assessor or in writing.

To complete this task, you are to research the special or complex features of client situations, the information that you might use, planning techniques for manageing complex client situations and internal and external documentation management and recording and answer the following questions. 

  1. What are the special or complex features of client’s situation that will need to be identified for their implementation implications?
  2. What information might you use to prioritise you implementation actions? 
  3. What information do you need to consider when you are planning the timing for each action in your implementation plan so that they are consistent with the needs and specifications of the client? 
  4. What information must you consider and include when you are clearly explaining to the client the implementation actions required? 
  5. Outline the requirements for obtaining written agreement from the client. 
  6. Briefly discuss how timing and priority can be used throughout the implementation of actions to maximise advantage for the client. 
  7. What information will you need to include in a brief for identified individuals for the implementation actions for the loan structure?
  8. What are the internal documentation requirements that may need to be completed for the complex loan structure implementation process?
  9. Discuss the external document requirements that may need to be completed for a complex loan structure implementation process.
  10. Why is it essential to coordinate any implementation actions that depend on or involve actions by other professionals?
  11. Identify and briefly discuss 3 of the time management techniques and tools that are suitable to use to support the implementation process. 
  12. Why is it important to establish monitoring procedures for the critical implementation timing and priorities? 
  13. List 5 of the actions that may need to be taken for the implementation, and that you would need to fully brief a client about. 
  14. What assistance might you need to provide to the client throughout the implementation? 
  15. List 6 of the internal and external personnel you may need to issue instructions to, as per the loan structure. 
  16. In what circumstance will you need to maintain consultation and monitoring with other professionals?
  17. What types of documentation might you need to follow up on the lodgement of? 
  18. What types of fees and charges will you need to obtain and process, according to the organisational and legislative requirements? 
  19. What range of factors will need to be discussed with the client during the post-implementation debrief? 
  20. Outline a process that could be followed to address and respond to client concerns. 
  21. Briefly discuss the documentation requirements relating to the following:
    1. Disclaimers.
    2. Disclosures.
    3. Insurance policies.
    4. Prospectuses.
    5. Receipts.
    6. Written advice.
Show More

Answer :

For solution, connect with our online professionals.