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You are going to be assessed for:

Your skills and knowledge using written and observation activities that apply to the workplace.

HOW YOU WILL BE ASSESSED

The process we follow is known as competency-based assessment. This means that evidence of your current skills and knowledge will be measured against national standards of best practice, not against the learning you have undertaken either recently or in the past. Some of the assessment will be concerned with how you apply your skills and knowledge in the workplace, and some in the training room as required by each unit.

Our assessment process is designed to answer the question “has the desired learning outcome been achieved yet?” If the answer is “Not yet”, then we work with you to see how we can get there.

In the case that one or more of your assessments has been marked ‘NYC’, your trainer will provide you with the necessary feedback and guidance, in order for you to resubmit your responses.

If you believe you already have the knowledge and skills to be able to demonstrate competence in this unit, speak with your trainer, as you may be able to apply for Recognition of Prior Learning (RPL).

Assessor Responsibilities

When required, request the manager or supervisor to determine that the student is ‘satisfactorily’ demonstrating the requirements for each unit. ‘Satisfactorily’ means consistently meeting the standard expected from an experienced operator.
When required, ensure supervisors and students sign off on third party assessment forms or third party report.

How long should my answers be?

The length of your answers will be guided by the description in each assessment, for example:

How should I reference the sources of information I use in my assessments?

Include a reference list at the end of your work on a separate page. You should reference the sources you have used in your assessments in the Harvard Style. For example:

Assessment Method	Satisfactory Result	Non-Satisfactory Result
You will receive an overall result of Competent or Not Yet Competent for the unit. The assessment process is made up of a number of assessment methods. You are required to achieve a satisfactory result in each of these to be deemed competent overall. Your assessment may include the following assessment types.
Questions	All questions answered correctly	Incorrect answers for one or more questions
Questions	Answers address the question in full; referring to appropriate sources from your workbook and/or workplace	Answers do not address the question in full. Does not refer to appropriate or correct sources.
Third Party Report	Supervisor or manager observes work performance and confirms that you consistently meet the standards expected from an experienced operator	Could not demonstrate consistency. Could not demonstrate the ability to achieve the required standard
Written Activity	The assessor will mark the activity against the detailed guidelines/instructions	Does not follow guidelines/instructions
	Attachments if requested are attached	Requested supplementary items are not attached
	All requirements of the written activity are addressed/covered.	Response does not address the requirements in full; is missing a response for one or more areas.
	Responses must refer to appropriate sources from your workbook and/or workplace	One or more of the requirements are answered incorrectly. Does not refer to or utilise appropriate or correct sources of information
Observation/Demonstration	All elements, criteria, knowledge and performance evidence and critical aspects of evidence, are demonstrated at the appropriate AQF level	Could not demonstrate elements, criteria, knowledge and performance evidence and/or critical aspects of evidence, at the appropriate AQF level
Case Study	All comprehension questions answered correctly; demonstrating an application of knowledge of the topic case study.	Lack of demonstrated comprehension of the underpinning knowledge (remove) required to complete the case study questions correctly. One or more questions are answered incorrectly.
Case Study	Answers address the question in full; referring to appropriate sources from your workbook and/or workplace	Answers do not address the question in full; do not refer to appropriate sources.
Practical Activity		Tasks have not been completed effectively and evidence of completion has not been provided.
Practical Activity	Attachments if requested are attached	Requested supplementary items are not attached

Assessment cover sheet

Result and Feedback
Feedback to Student:
Overall Outcome Competent Not yet Competent
Assessor Signature:		Date:

2. Determine the appropriate risk exposure management strategies
3. Communicate these strategies to relevant staff and intermediaries
1. 1. Insurance Act 1873
  2. Insurance contracts Act 1984
  7. Financial Transaction Reports Act 1988 (Cwlth)
  8. Anti-Money Laundering and counter-Terrorism Financing Act 2006 (Cwlth) (AML/CTF Act)
  13. Australian Prudential Regulation Authority Act 1998
  14. Australian Securities and Investments Commission Act 2001
  19. Australian Corporations Act 2004
  20. Australian Taxation Act
2. 1. 3. Compliance with organisational policies and procedures
    4. Risk mitigation figures
3. 1. Areas that are considered to be low risk will have been assessed to have:
    1. Minimal risk exposure
  2. 2. Financial loss
    3. Loss of market sector
5. Relevant industry hazards
  1. Within the financial industry there are a range of different industry hazards and specific risk exposures that may be related to a range of business activities including:
    5. Marketplace
6. Relevant risk exposures and an evaluation of those risks and hazards (you will need to identify your organisation’s business risk elements and control risk elements)
  1. 4. Public relations
    5. Compliance issues
You will need to consider the known exposure factors and evaluate the risk acceptability factors within the context of mitigating capabilities and organisational requirements.
Once you have done this you will need to:
1. 1. 3. Volatility: The word volatility in relation to financial risk speaks to the level of uncertainty and amount of likelihood to change and by how much the risk is likely to change.
  2. It is essential to ensure that a range of strict terms and conditions are created for the risk acceptance of risk factors that are deemed to be high risk and these may include:
    5. Variables that are not acceptable
    6. Approvals processes
    11. Roles and responsibilities
    12. Accountability practices
3. 1. Policies and procedures change
  2. Change management strategies
2. Guidelines of the strategy
3. Purpose of risk acceptance criteria
8. Information related to how the risk acceptance strategy will be made accountable
9. Resources
14. Review and monitoring structure
Then you will need to get feedback on and finalised the risk acceptance criteria. If you are not in a workplace you will need to ask your trainer/assessor to give you feedback on your work.
4. Organisational and industry risk management documentation

Written Activity Checklist

For this assessment you will need to use the risk management strategy you have developed and think about how you would implement it.

Now it is time to develop an implementation plan. Your will need to include:
1. Project management requirements
2. Assessing Project Risk
7. Budgets and financial management
8. Project schedule and timeline
3. Technological: these are the processes and systems or physical technological items and equipment such as specially designed software and information management systems.
4. Physical: this encompasses all tangible physical assets such as equipment, supplies, buildings and office space.
3. Resource requirements
4. Risk management issues and strategies
The next step is to write a presentation for staff members. This may include:
1. Presentation book

Research Task and Written/Oral Questions

The following questions may be answered verbally with your assessor or you may write down your answers. Please discuss this with your assessor before you commence this task to ascertain if you are to complete this section. Your assessor can be contacted via their email address provided to you on enrolment or via service@mentor.edu.au.

What will risk acceptance and rejection criteria be based on?
What are the eleven principles of risk management?
Identify the relevant legislation and discuss the key pieces of it relating to one of the following:
1. Insurance contracts
What organisational factors impact on organisational requirements within an organisation in relation to risk acceptability factors? Briefly describe each
What organisational information needs to be assessed in order to determine the risk acceptance requirements of an organisation?
What methods might you use to collect feedback?
What is a WBS, and what is it used for?
What is the purpose of evaluating a risk assessment strategy?
What results will need to be documented in relation to reviews and evaluations processes?

Research Task And Written/Oral Questions Checklist
The assessor needs to indicate whether they have conducted the questioning as written questions or as verbal questions by ticking the box below.
Written Questioning		Verbal Questioning

Student’s name:
Assessor’s name:
If questions are answered verbally, the assessor must write detailed answers in the sections provided below. The space below does not indicate the size of the answer anticipated. Keep typing and the space will expand. If answers are recorded separate to this document, they must be attached to the assessment documents.				Satisfactory response
				Yes	No
1	What will risk acceptance and rejection criteria be based on?
1	The level of risk: the likelihood of a negative outcome. Magnitude: more specifically the size and extent of the financial risk to the organisation.
2	What are the eleven principles of risk management?
2	Address uncertainty implicitly Be structured, systematic and timely Be responsive to change and dynamic Facilitate continual improvement within organisations
3	What is actuarial analysis?
3	Actuarial analysis is a type of asset to liability analysis used by financial organisations to ensure they have the funds to pay required liabilities.
4	What tools can be used to measure benchmarks or performance targets? List eight
4	Risk analysis Performance review tools
5	There are a large range of potential business risk elements that may impact on an organisation. List eight
5	3. Relationship with the rest of the group 4. Risk management
6	List and describe four sources of information that you might use when collating accurate, reliable and up-to-date information.
6
7	Identify the relevant legislation and discuss the key pieces of it relating to one of the following: Insurance contracts
7
8	What is “mitigating capabilities”? Give one example
8	The organisations’s capabilities to minimise risks they are exposed to ensure the level of risk or damage that is caused has minimal impact
9	What organisational factors impact on organisational requirements within an organisation in relation to risk acceptability factors? Briefly describe each
9
10	What organisational information needs to be assessed in order to determine the risk acceptance requirements of an organisation?
10
11	Risk acceptability factors vary according to what?
11
12	What are governance structures, and what might they include?
12
13	What terms and conditions are required for the risk acceptance of high risk factors? List five
13
	When documenting the outline of the risk assessment strategy, what will it be necessary to include?

	What methods might you use to collect feedback?

	What is a WBS, and what is it used for?

	Briefly describe the five main categories of resources.

	Action plans should include all of the relevant information required to set out and achieve a goal. What information should be included on an action plan?

	Outline the process for developing an effective communication plan.

	Why is it necessary to monitor a risk acceptance strategy?

	What is the purpose of evaluating a risk assessment strategy?

	What results will need to be documented in relation to reviews and evaluations processes?

Feedback to Student:
Result Satisfactory Not Yet Satisfactory
Assessor’s Signature:			Date: