NZQA Expiring unit standard
24774 version 2
Page 1 of 4
Title
Implement a financial plan to predetermined guidelines in the
financial services industry
Level
4
Credits
4
Purpose
People credited with this unit standard are able to, in the
financial services industry:
– establish administrative actions needed to implement a
financial plan;
– undertake required actions for implementation of a financial
plan; and
– establish administrative actions needed to review a financial
plan.
Classification
Financial Services > Financial Advice
Available grade
Achieved
Explanatory notes
1
This unit standard has been based on the Australian unit of competency
FNSFPLN403B, Implement financial plan to predetermined 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;
Insurance Law Reform Act 1977;
Insurance Law Reform Act 1985;
KiwiSaver Act 2006;
Life Insurance Act 1908;
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24774 version 2
Page 2 of 4
NZ IFRS (New Zealand equivalent to International Financial Reporting Standards)
available from http://www.nzica.com;
Privacy Act 1993;
Securities Act 1978;
Securities Markets Act 1988;
Trustee Act 1956;
Trustee Amendment Act 1988;
Work and Income policy and regulations;
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
Predetermined guidelines – guidelines developed by product providers and/or
organisations incorporating recommended usage and practice
Outcomes and evidence requirements
Outcome 1
Establish administrative actions needed to implement a financial plan in the financial
services industry.
Range
actions may include – those undertaken by a qualified financial adviser, own
actions, actions delegated or referred to internal or external staff or other
qualified persons.
Evidence requirements
1.1
Financial plan is checked to verify that implementation actions are within
candidate's skills, knowledge and authority.
1.2
Implementation actions are established that are consistent with customer needs
and specifications, and the predetermined guidelines.
1.3
Implementation actions are prioritised, and timings for each implementation
action are established to maximise advantage to customer.
1.4
Implementation diaries and other appropriate records are established in
accordance with predetermined guidelines.
Outcome 2
Undertake required actions for implementation of a financial plan in the financial services
industry.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
24774 version 2
Page 3 of 4
Evidence requirements
2.1
Instructions for implementation are issued to appropriate people in accordance
with plan requirements.
2.2
Lodgement or delivery of documentation is checked and follow-up actions are
recorded to ensure plan timings are met.
documentation may include – computer and manual applications,
written advice, disclaimers, disclosures, insurance policies,
prospectus, receipts.
Range
2.3
Fees and charges are obtained and processed in accordance with
predetermined guidelines, and industry codes of practice.
2.4
Implementation actions are completed in accordance with predetermined
guidelines and industry codes of practice.
Outcome 3
Establish administrative actions needed to review a financial plan in the financial services
industry.
Evidence requirements
3.1
Actions and timeframes for review of the ongoing Performance of the plan are
established and documented, in accordance with predetermined guidelines and
legislative requirements and any special arrangements agreed with the
customer.
3.2
Review actions and timeframes ensure instructions are issued to appropriate
people in accordance with plan requirements.
3.3
Arrangements are made and recorded for checks and follow-up on lodgement
of documentation to ensure plan timeframes are met.
3.4
Review actions and timeframes ensure fees and charges are obtained and
processed in accordance with predetermined guidelines and industry codes of
practice.
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
24774 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