Activity 1: Prepare a client loan application for case scenario 1
\nThis activity requires you to prepare a client loan application for case scenario 1.
\nTo do so, you are required to follow the steps given in Checklist 1 and complete the templates associated with each step.
\nThe supervisor or trainer\/assessor will:
\n\u2022\tSupervise and observe the student performing this activity.
\n\u2022\tPlace a tick mark against each step given in the checklist after the student performs\/implements the step.
\n\u2022\tSign off the checklist and ask the student for the submission of templates associated with each step.<\/p>\n
For trainer\/assessor: For the simulated environment
\n\u2022\tThe trainer\/assessor or supervisor must ensure that the student is made familiar with the existing workplace practices used in the workplace.
\n\u2022\tThe trainer\/assessor must ensure that the student has access to the following in the simulated workplace scenario:
\no\tOffice equipment, technology, software and consumables
\n\uf0a7\tComputer
\n\uf0a7\tInternet
\n\uf0a7\tMS Word
\n\uf0a7\tPrinter or e-printer
\n\uf0a7\tTeam members
\n\uf0a7\tBrokerEngine
\n\uf0a7\tContact software system and data
\no\tClients as mentioned in the case scenarios
\no\tOrganisational products and information
\no\tOrganisational policies and procedures documentation.
\n\u2022\tThe trainer\/assessor will take on the role of the lender.
\n\u2022\tThe trainer\/assessor must ensure that the student has access to the internal stakeholders of the training organisation.
\n\u2022\tThe trainer\/assessor will assign the role of the client for case scenario 1 to the staff member of the training organisation.
\n\u2022\tThe trainer\/assessor must brief the staff member regarding case scenarios provided above.
\n\u2022\tThe staff member must discuss the information requested by the student\/broker based on the case scenarios and the scripts provided.
\n\u2022\tThe trainer\/assessor must assess the student using the performance checklist provided.<\/p>\n
Checklist 1: Prepare a client loan application for case scenario 1
\nSteps\tPlace a tick mark, once completed
\nStep 1: Determine the client’s goals, objectives, and confidentiality requirements.
\n\u25cf\tAnalyse the information given in case scenario 1.
\n\u25cf\tDetermine the client goals and objectives related to the loan and document using Template 1.
\n\u25cf\tIdentify the confidentiality requirements requirement and document using Template 1.
\n\uf071
\nStep 2: Obtain client\u2019s financial and personal information.
\n\u25cf\tConsult with the client and obtain the following financial and personal information:
\n\u25cb\tTotal cost of property.
\n\u25cb\tTotal saving
\n\u25cb\tWork details
\n\u25cb\tDependants
\n\u25cb\tTotal expenses
\n\u25cb\tLoans and credit details
\n\u25cf\tDocument the identified information using Template 1.
\nClient to discuss the following:
\n\u2022\tTotal home cost: $600,000
\n\u2022\tTotal saving: $120,000.
\n\u2022\tWork details:
\no\tAnna:
\n\uf0a7\tFull-time nurse for past 3 years
\n\uf0a7\tSalary package: $80,000
\no\tLarry:
\n\uf0a7\tSelf-employed \u2013 Electrician
\n\uf0a7\tGross income: $90,000
\n\u2022\tDependants: 1
\n\u2022\tTotal expenses: 3,500\/per month
\n\u2022\tCredit scenario:
\no\tLoans and credit cards: $5,000
\no\tCredit history: Clean \t\uf071
\nStep 3: Determine the information needed to support a loan application in accordance with codes of practice, legislative, and regulatory requirements.
\nDocument the information needed to support a loan application using Template 1.
\n\uf071
\nStep 4: Gather the necessary documents and signatures for the loan application.
\n\u25cf\tRequest the client to provide the following details.
\n\u25cb\tBank statements
\n\u25cb\tCopies of tax forms
\n\u25cf\tRequest the client to sign the loan application document.
\nTrainer\/assessor to provide the following documents to the student:
\n\u2022\tSample of bank statements and tax forms
\n\u2022\tLoan application form\t\uf071
\nStep 5: Inform the client about the loan preparation and presentation process.
\n\u25cf\tDiscuss with the client regarding the loan preparation and presentation process.
\n\u25cf\tClarify the information requirements of the student.
\n\u25cf\tDocument the loan preparation and presentation process discussed with the client using Template 1.
\n\uf071
\nStep 6: Verify loan requirements and review supporting documentation for accuracy and readability.
\n\u25cf\tVerify loan requirements requirement with the client.
\n\u25cf\tReview supporting documentation for accuracy and readability.
\n\u25cb\tBank statements
\n\u25cb\tCopies of tax forms
\n\u25cf\tFurther, document the following using Template 1.
\n\u25cb\tLoan requirements
\n\u25cb\tChecks conducted on supporting documents to ensure accuracy and readability.
\n\uf071
\nStep 7: Provide documentation that accurately reflects the client’s financial situation and personal information in accordance with the lender’s requirements and guidelines to the lender (Trainer\/assessor).
\n\u25cf\tGo over documents with the client and confirm information.
\n\u25cf\tComplete document execution in accordance with organisational procedures as needed.
\n\u25cb\tComplete the home loan form provided along with the assessment. Ensure the documentation accurately reflects the client’s financial situation and personal information.
\n\uf071
\nStep 8: Comply with client confidentiality requirements when submitting documents to the lender or approving officer.
\nFurther, document the client confidentiality requirements complied with when submitting documents using Template 1.
\n\uf071
\nStep 9: Obtain lender or approving officer decision and notify client of loan offer or non-offer in accordance with organisational policies and procedures.
\nLender (trainer\/assessor) to discuss the following with the broker:
\n\u2022\tAdditional information is required to complete the application. This includes:
\no\tLength of job.
\no\tHow old is the ABN number for sole trading?\t\uf071
\nStep 10: Gather any additional information requested by the lender to support the loan application.
\n\u2022\tGather necessary information requested by the lender from the client.
\n\u2022\tDocument the identified additional information using Template 1.
\nClient to discuss the following:
\n\u2022\tLength of job: 3 years
\n\u2022\tHow old is the ABN number for sole trading? 18 months. \t\uf071
\nLender (Trainer\/assessor) to discuss that the loan is approved.
\nStep 11: Provide the necessary information to the client if the loan application is rejected via e-mail.
\nDiscuss in the e-mail how to proceed following the lender\u2019s decision on the offer.
\nTake a screenshot of the e-mail and submit to the trainer\/assessor.
\n\uf071
\nSign off:
\nSupervisor\u2019s signature:
\nSign-off date:<\/p>\n
Template 1: Client loan application for case scenario 1
\nClient loan application for case scenario 1
\nConfidentiality requirements requirement<\/p>\n
Client\u2019s financial and personal information
\nTotal cost of property.<\/p>\n
Total saving<\/p>\n
Work details<\/p>\n
Dependants<\/p>\n
Total expenses<\/p>\n
Loans and credit details<\/p>\n
Information needed to support a loan application<\/p>\n
Loan preparation and presentation process<\/p>\n
Loan requirements<\/p>\n
Checks conducted on supporting documents to ensure accuracy and readability<\/p>\n
Confidentiality requirements complied with when submitting document<\/p>\n
Additional information requested by the lender<\/p>\n","protected":false},"excerpt":{"rendered":"
Activity 1: Prepare a client loan application for case scenario 1 This activity requires you to prepare a client loan application for case scenario 1.\u2026<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7316,7318,7317,7315,7319,7321],"tags":[642,618,8825,576,116,631,19,643,473,633,630,628,450,597,594,626,635,574,622,624,620,621,619,623,617,625,627,634,629,632,644,645,42,66],"class_list":["post-112665","post","type-post","status-publish","format-standard","hentry","category-best-dissertation-writers-uk","category-british-dissertation-writers","category-dissertation-help-online","category-dissertation-writing-services-uk","category-help-with-dissertation-writing","category-uk-dissertation-help","tag-apps-that-write-essays-for-you-free","tag-assignment-writing-services-in-usa","tag-bes","tag-best-dissertation-writing-services","tag-best-essay-writing-service","tag-best-paper-writing-services","tag-best-research-paper-writing-services-in-usa","tag-best-website-to-write-my-essay","tag-cheap-essay-writing-service","tag-cheap-research-paper-writing-service","tag-college-paper-writing-service","tag-dissertation-help-online","tag-dissertation-writing-services","tag-dissertation-writing-services-illegal","tag-dissertation-writing-services-near-me","tag-dissertation-writing-services-usa","tag-essay-writing-service","tag-free-dissertation-writing-services","tag-homework-essay-writer","tag-homework-essay-writer-free","tag-homework-help-global","tag-homework-help-services","tag-homework-help-usa","tag-homework-writing-help","tag-homework-writing-service","tag-legit-research-paper-writing-services","tag-legitimate-dissertation-writing-services","tag-research-paper-writer-online-free","tag-research-paper-writing-services-online","tag-research-paper-writing-websites","tag-write-my-essay-for-me-cheap","tag-write-my-essay-for-me-tik-tok","tag-write-my-essay-free","tag-write-my-paper"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/112665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/comments?post=112665"}],"version-history":[{"count":0,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/112665\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=112665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=112665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=112665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}