Financial Services Toolbox
Learning Plan: Research and Apply Product Knowledge
This Learning Plan has been prepared to help you to confirm you have completed all the required
learning activities. Print the Learning Plan and tick the boxes as you complete each activity.
Client Interaction 1

What to do
Why do it
Task 1
Read the first section of the team meeting
transcript and your manager’s email in Your
manager.
Your manager’s request will set the
scene for your research task.
Complete the Financial products short course in
Learning opportunities.
You will learn about the different
categories of financial products.
Complete the Client account basics short course
in Learning opportunities.
You will learn the terminology used in
client accounts.
Access the product descriptions in the Product
section of the VFS intranet and read the
descriptions for the Transaction account and the
Savings account.
You will access the details about these
Basic deposit products. You will use this
information in your research task.
Access a competitor website from those listed in
Learning opportunities and identify a product
which is similar to the VFS products you have
researched.
You will have the opportunity to look at a
financial product offered by a real
financial organisation and compare it to
the VFS products.
Go to Your tasks and complete Task 1. This task You will be able to demonstrate your
will require you to identify the three categories of skills in researching and developing
financial products, provide detail on two VFS
product knowledge.
products and on one competitor product and
compare the VFS products with the competitor’s.
Task 2
Go to Learning opportunities and ask a
colleague about Maintaining product knowledge.
You will access advice from a VFS
colleague about maintaining product
knowledge in a busy workplace.
Participate in an discussion in Communication
and discuss one of these topics:
You will be able to share your ideas for
individuals and teams in maintaining
product knowledge. You will also be able
to learn from the experience of others.

List three useful strategies for ensuring
your product knowledge remains up to
date.

List three useful team strategies for
helping a work team to keep its product
knowledge up to date.
Go to Your tasks and complete Task 2. This task
will require you to select three ideas for ensuring
product knowledge is maintained and write each
of them up in the task document.
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You will be able to demonstrate your
ability to identify or develop good ideas
for maintaining product knowledge. The
completed task document will be a useful
reminder of these ideas.
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Financial Services Toolbox
Client Interaction 2

What to do
Why do it
Task 1
Read Tina’s client profile in The client.
You will access a summary of Tina’s
wants and needs which were developed
earlier in an interview with Tina. These
details will help you to select an
appropriate financial product to meet her
needs.
Take the Basic deposit products short course in
Learning opportunities.
You will learn about VFS basic deposit
products and how different types of basic
deposit products suit different clients.
Take the Fixed term deposit products short
course in Learning opportunities.
You will learn about VFS fixed term
deposit products and how different types
of fixed term deposit products suit
different clients.
Consider the products which might meet Tina’s
needs and access the product descriptions of
these Products in the VFS intranet.
You will access details on products which
may meet Tina’s needs as expressed in
the client profile.
Go to Your tasks and complete Task 1. This task
will require you to select a financial product to
meet Tina’s needs and also to select another
financial product which you would recommend if
her needs were slightly different.
You will be able to demonstrate your
ability to select appropriate financial
products for clients of differing financial
needs.
Task 2
Read the conversation with Tina in The client.
You will read or hear an example of how
a conversation with a client in which a
product recommendation is made.
Take the Client solutions short course in
Learning opportunities.
You will learn about the skills required
when presenting client solutions.
Take the FSRA overview short course in
Learning opportunities.
You will learn about the requirements of
the Financial Services Reform Act in
relation to presenting client solutions.
Go to Communication and participate in one of
the following online discussion topics:
You will have an opportunity to discuss
with your colleagues some of the issues
that are relevant to presenting client
solutions or discuss the sales and
service aspects of your role.
It is up to the client to ask questions if they don’t
understand something. If they don’t ask
questions you can assume they understand.
Agree/Disagree? Why?
How is ‘developing and presenting client
solution’s about sales skills, and how is it about
client service skills?
Go to Your tasks and complete Task 2. This task You will have the opportunity to
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Financial Services Toolbox
will require you to identify the communication
techniques used in the conversation with Tina,
whether the appropriate disclosures were made
in relation to terms and conditions and the
documentation that would need to be provided
to Tina.
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demonstrate your ability to identify
effective communication techniques,
make appropriate disclosures and
provide appropriate documentation to
clients.
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Financial Services Toolbox
Client Interaction 3

What to do
Why do it
Task 1
Read the transcript of the conversation with
Ahmed in The client.
You will learn about Ahmed’s situation
and his needs.
Take the Non-cash payment facilities short
course in Learning opportunities.
You will learn about the range of noncash payment facilities available at VFS
and the benefits to clients of each of
these products.
Access the VFS intranet and read the product
descriptions of each of the non-cash payment
facilities.
You will learn details of the various VFS
non-cash payment facilities. This will help
you to identify a product which is suitable
for Ahmed.
Go to Your tasks and complete Task 1. This task
will require you to select a product to meet the
client’s needs, list the key features of this
product and the reason’s you selected it.
You will be able to demonstrate your
ability to select a financial product to
meet a client’s needs and identify the key
features of the product that will benefit
the client.
Task 2
Take the Client solutions short course in
Learning opportunities
You will learn about the skills required
when presenting client solutions.
Ask a colleague about Overcoming objections in
Learning opportunities.
You will access advice from a colleague
about how to respond effectively to
objections from clients when you are
presenting a client solution.
Go to Your tasks and complete Task 2. This task You will be able to demonstrate your
will require you to participate in a simulated
ability to respond to a client objection.
conversation with the client in which you
propose a product to meet his needs and
overcome an objection. You will then record two
communication skills that you used in the
conversation.
Take the Trade Practices Legislation and FTRA
Overview short courses in Learning
opportunities.
You will learn about how the Financial
Transactions Reporting Act and the
Trade Practices Act impact on you when
transacting with clients like Ahmed.
Go to Communication and participate in both the
following online discussion topics:
You will have the opportunity to discuss
what you learned in the two courses in
Learning opportunities with your
colleagues.

Is Ahmed’s transaction a significant or
suspect transaction? Would it need to be
reported to AUSTRAC? Why? Why not?

What mistakes could the CSO make
when assisting Ahmed that may result in
a breach of the Trade Practices Act?
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Financial Services Toolbox
Client Interaction 4

What to do
Why do it
Task 1
Access the conversation with The client.
You will find out about Stephanie’s
request for assistance.
Then go to Learning opportunities and take the
short course Insurance markets.
You will learn about the various players
in the insurance market.
Then go to Learning opportunities and take the
short course Insurance contracts act.
You will learn about the regulations that
govern the provision of insurance
products.
Then go to Learning opportunities and take the
short course Insurance products.
You will learn about the types of
insurance products VFS offers and how
the different types of insurance may
benefit clients.
Go to Your tasks and complete Task 1. This task You will be able to demonstrate your
will require you to answer a series of questions
understanding of insurance markets and
about communication skills, insurance
insurance products.
intermediaries, disclosure and Tier 2 insurance
products
Task 2
Access the conversation with Stephanie and her
partially completed application form in The
client.
You will be able to access the details
Stephanie has already added to her
application.
Go to Your tasks and complete Task 2. This task You will be able to demonstrate your
will require you to complete an insurance
ability to assist a client to complete an
application form based on the transcript of the
application form.
conversation with Stephanie.
Task 3
Access the conversation with Stephanie in The
client.
You will review the content of the
conversation with Stephanie.
Go to Learning opportunities and ask a
colleague about Cross Selling.
You will access hints and tips on how to
cross sell products without offending.
Participate in an online discussion on the
following topic in Communication:
You will be able to share your views on
which products might benefit Stephanie
and how you might uncover her needs.
Based on the conversation, which other VFS
products may be of use to Stephanie and her
partner? What questions could you ask to
uncover these needs?
Go to Your tasks and complete Task 3. This task
will require you to list a number of VFS products
you could offer to Stephanie and her partner and
the questions you would ask Stephanie to
uncover her needs.
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You will be able to demonstrate your
ability to select appropriate products for
cross selling and to uncover the
customer’s need of these products.
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