FNS40815: Loan application preparation - Certificate IV in Finance and Mortgage Broking - Accounting and Finance Assignment Answer
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Task 1: Case Study – Loan application preparation
You will notice that there are two options of Case Study within this assessment – the first (A) is more specifically for Mortgage Brokers, the second (B) for brokers in
the Plant & Equipment and Motor Vehicle field. Please complete only the stream relevant to you and indicate this on the assessment cover sheet.
Choosing one of the case studies presented below, prepare a loan file from contact with the clients to preparing the loan application for lodgement with the client’s lender of choice.
In completing this task, you need to demonstrate to your assessor that you are competent in the following areas and able to:
? communicate ideas and information
? collect, analyse and organise information
? plan and organise activities
? work with others in a team
? use mathematical ideas and techniques
? solve problems by providing solutions
? use technology.
To do this you will need to compile a report (Client Needs Review/Fact Find) indicating your thoughts and processes on different aspects of your application. These may include, but are not limited to:
? the choice of loan product for your client and the information about the loan product that you presented to them. Where you located the product information. Remember there is no right/wrong answer to this area, it is always subjective.
? the use of technology to compare the product/fees, find information on the products etc.
? how you would work in a team situation with your co-workers, lenders, real estate agents, mentor etc. In areas where you do not have copies of actual supporting documentation, insert a page with the name of the document you would include e.g. copy of driver’s licence for the client.
There are a number of templates in the Member’s Area under ‘Useful Resources’ that you could use in your submission.
Remember there is no right or wrong answer as each client you see presents a new challenge and if you can provide solutions for those challenges you will be well regarded and successful in this industry.
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