NZQA Expiring unit standard
24765 version 2
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Title
Match financial products and/or services to customer needs in the
financial services industry
Level
4
Purpose
Credits
3
This unit standard covers matching financial products and/or
services to customer needs appropriately, without customer
contact.
People credited with this unit standard are able to, in the
financial services industry:
– access the information needed to determine the fit between
the financial product and/or service and the customer; and
– determine suitable financial products and/or services to
meet customer needs and expectations.
Classification
Financial Services > Financial Advice
Available grade
Achieved
Explanatory notes
1
This unit standard has been based on the Australian unit of competency
FNSICPRO402B, Match financial products to customer needs available at
http://ntis.gov.au. This is supported and endorsed by the Australian standard setting
body Innovation and Business Services Australia and ETITO (ElectroTechnology
Industry Training Organisation).
2
Assessment against this unit standard may be on job, or off job in a simulated work
environment or a combination of these within the financial services industry context.
3
References
New Zealand Bill of Rights Act 1990;
Commerce Act 1986;
Companies Act 1993;
Consumer Guarantees Act 1993;
Credit Contracts and Consumer Finance Act 2003;
Electronic Transactions Act 2002;
Fair Trading Act 1986;
Financial Reporting Act 1993;
Financial Transactions Reporting Act 1996;
Health and Safety in Employment Act 1992;
Human Rights Act 1993;
Income Tax Act 2007;
KiwiSaver Act 2006;
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24765 version 2
Page 2 of 3
NZ IFRS (New Zealand equivalent to International Financial Reporting Standards)
available from http://www.nzica.com;
Privacy Act 1993;
Securities Act 1978;
Superannuation Schemes Act 1989;
industry codes of practice;
and all subsequent amendments and replacements.
4
All activities must comply with any policies, procedures, and requirements of the
organisations involved; the standards of relevant professional bodies including codes
of ethics; and any relevant legislative and/or regulatory requirements.
5
Definition
Financial product and/or service – such as savings, investment, loans,
superannuation, insurance, banking, other financial products and/or services.
6
Range – evidence relating to a minimum of three customers is required to cover a
representative range of needs and products.
Outcomes and evidence requirements
Outcome 1
Access the information needed to determine the fit between the financial product and/or
service and the customer in the financial services industry.
Evidence requirements
1.1
All information required to determine the eligibility of the customer for the
financial product and/or service is obtained in accordance with industry codes of
practice and organisational procedures.
Range
1.2
may include – personal details, financial status, previous history,
with the company or other companies, business records.
A range of possible financial products and/or services are identified and
evaluated, based on customer stated requirements in terms of features,
benefits, terms and conditions, and other factors.
Range
may include – financial products and/or services developed and
offered by the organisation; financial products and/or services
developed by other vendors, lenders, and organisations that are
used by/or contracted out by the organisation.
Outcome 2
Determine suitable financial products and/or services to meet customer needs and
expectations in the financial services industry.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24765 version 2
Page 3 of 3
Evidence requirements
2.1
A suitable financial product and/or service, or a number of options, are
determined in accordance with customer needs and expectations and
documented for discussion with customer in accordance with industry codes of
practice.
2.2
Customer negotiation periods are established and documented in accordance
with organisational policy and relevant legislation.
Range
2.3
cooling off periods, application valid period, negotiation period.
Option/s are explained and reviewed with manager or other appropriate
personnel in accordance with personal authorities.
This unit standard is expiring. Assessment against the standard must take place by
the last date for assessment set out below.
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
20 June 2008
31 December 2017
Review
2
18 June 2014
31 December 2017
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016