NZQA Expiring unit standard
24772 version 2
Page 1 of 4
Title
Research specified financial strategies and products to
predetermined guidelines in the financial services industry
Level
4
Credits
5
Purpose
People credited with this unit standard are able to, in the
financial services industry:
– interpret research requirements;
– research financial products and strategies in accordance
with predetermined guidelines; and
– summarise research information and make
recommendations in accordance with predetermined
guidelines.
Classification
Financial Services > Financial Advice
Available grade
Achieved
Explanatory notes
1
This unit standard has been based on the Australian unit of competency
FNSFPLN401B, Extract and analyse information on specified financial strategies and
products to set guidelines 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;
NZ IFRS (New Zealand equivalent to International Financial Reporting Standards)
available from http://www.nzica.com;
Privacy Act 1993;
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24772 version 2
Page 2 of 4
Securities Act 1978;
Securities Markets Act 1988;
Superannuation Schemes Act 1989;
Trustee Act 1956;
Trustee Amendment Act 1988;
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
Definitions
Financial product and/or service – such as savings, investment, loans,
superannuation, insurance, banking, other financial products and/or services.
Predetermined guidelines – guidelines developed by product providers and/or
organisations incorporating recommended usage and practice
Outcomes and evidence requirements
Outcome 1
Interpret research requirements in the financial services industry.
Evidence requirements
1.1
Customer information is reviewed and quantified in terms of financial objectives.
1.2
Research topics are established in accordance with customer information and
objectives.
1.3
Specifications of financial products and/or services to be researched are
confirmed with a qualified financial adviser.
1.4
Aims and objectives of research are clearly established and understood in
accordance with customer needs and expectations.
1.5
Timeframes are established and requests prioritised in accordance with data
availability and organisational requirements.
Range
timeframe considerations may include – market cycles, release
dates, marketing strategy, competitors, procedures revision,
legislative and regulatory requirements.
Outcome 2
Research financial products and strategies in accordance with predetermined guidelines in
the financial services industry.
Range
research studies may be internal or external.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24772 version 2
Page 3 of 4
Evidence requirements
2.1
Data extraction criteria are confirmed as relevant to research specification.
2.2
Trends are identified to provide meaningful information on product performance
and strategies in accordance with predetermined guidelines.
2.3
Risk identification is made of products and strategies in accordance with
predetermined guidelines.
2.4
Financial products and strategies are analysed and documented within
appropriate timeframes to ensure currency of decision making.
2.5
Documentation is reviewed to identify issues that require specialist and/or
independent research or advice.
Outcome 3
Summarise research information and make recommendations in accordance with
predetermined guidelines in the financial services industry.
Evidence requirements
3.1
Information on financial strategies and products is collated, prioritised and
checked against research specification.
information may include factors such as – market, political,
regulatory, economic, environmental, internal comparisons,
industry code of practice, social.
Range
3.2
Research is analysed for completeness and relevant implications of information
gathered are assessed. Written performance, trend and risk analyses are
prepared and checked against research specification.
3.3
Any qualifications or issues for further research are described in accordance
with organisational requirements.
3.4
Recommendations are made and documented in accordance with
predetermined guidelines.
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
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24772 version 2
Page 4 of 4
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