Assessment 2:Client information

Appointment date:

Appointment time:

Applicant 1

Applicant 2

Surname

Other names

Contact details

Address

Phone (W)

Phone (H)

Mobile

Email

Employment

How long?

Previous employer (if less than two years)

How long?

Employment type

(FT/PT/Casual/Self-employed)

Gross income (p.a.)

Number of dependants

Motor vehicles

Loan purpose

Purchase price/Valuation

Deposit on property

Loan amount

Borrowing capacity (using Genworth serviceability calculation)

Assets and liabilities

Assets

Liabilities

Details

Market value

Details

Monthly payments

Amount owing

Owner Occupied Property at:

Mortgage with:

Investment Property at:

Mortgage with:

Cash at bank

(includes fixed deposits)

Car leasing

Other cash

(includes offset accounts)

Personal loans

1.

2.

Deposit paid on property

Overdraft

Motor vehicles:

1. Holden Commodore

2. Suzuki Sport 2015

Other loans:

1.

2.

Personal effects

Credit card limit:

$

Business value (if self employed)

Credit card limit:

$

Shares and investments

Other:

Superannuation

Other:

Other assets (give details)

Other:

Total assets

Total liabilities

Surplus/deficiency:

CURRENT MONTHLY LIVING EXPENSES (Provide a breakdown of the total amount listed in the case study use your discretion)

Food/housekeeping

Insurance (e.g. motor vehicles, home contents/ building, medical, life/income protection)

Utilities (e.g. rates, gas, electricity, transport)

Transport (e.g. public transport, petrol, registration, repairs)

Education (e.g. school, college, university)

Dependents support (e.g. childcare, child maintenance)

Entertainment

Other (detail below:

MONTHLY LIVING EXPENSES

Needs analysis

1

Name of your current lender?

2

What type of mortgage loan do you have?

3

Why did you choose this particular loan and lender?

4

What is the interest rate?

5

What are your payments?

Amount

6

Frequency

7

Do you know the fees and charges?

8

What is your proposed purpose for the loan you are applying for?

9

Branch access available with current lender

10

Internet banking available with current lender

11

Phone banking available with current lender

12

Lenders not to be considered

13

Type of loan sought

14

Preferred Interest rate range

15

Payment frequency

16

Redraw

17

Offset

18

Salary crediting

19

Low fees and charges

Notes

NB: Providing substantive notes here is a compulsory part of your assessment.

Anticipated fees and charges

Anticipated purchase price

Deposit on property

Loan amount

LVR

Purchase costs

Stamp duty on transfer (include transfer fee)

Solicitor/conveyancer (estimate)

Rates and land taxes (estimate)

Pest inspection (estimate)

Building Inspection (estimate)

Borrowing costs

Application/establishment fee

Valuation fee

Security admin fee

Mortgage stamp duty

LMI

Registration of mortgage

Release of mortgage

Search fees

Other

Total of purchase costs

Funds to complete

PURCHASE AND LOAN COSTS:

AVAILABLE FUNDS:

Purchase price:

Deposit if paid

Lender application / valuation fees:

Cash savings:

Transfer stamp duty

Sale proceeds:

Solicitor fees:

Gift:

Other fees and charges

FHOG:

Other:

LMI:

1. $

2.Add to Loan? Yes/No

TOTAL COSTS (A):

TOTAL OWN FUNDS (D):

LOAN AMOUNT REQUESTED(B):

OWN FUNDS REQUIRED(A-B) = C:

OWN FUNDS REQUIRED (A-B) = C

SURPLUS/SHORTFALL (D-C)

Loan interview diary

Name(s) of client(s) present at interview

Date of interview

Location of interview

Indicate all clients who were interviewed in person

Do all of the clients appear to clearly understand English?Y/N

If not, have the services of an interpreter been recommended?Y/N

Do all of the clients clearly benefit from taking out this loan?Y/N

If not, what inquiries have been made to ascertain the level of benefit to each party of the loan?

Are any clients acting as though they are under duress or other disability?Y/N

Are any clients acting as though they are unsure of anything about the loan?Y/N

Are any of the clients acting as though they are unable to comprehend their obligations?Y/N

Are there any guarantors?Y/N

If yes is answered to any of the above questions, have the clients been advised to seek

the services of a lawyer or financial adviser?Y/N

Provide details of other pertinent information obtained during the loan interview which may be of interest or of any unusual circumstances you may wish to record.

I am attaching for that assessment

Role play

You will participate in a role play for a maximum of 10 minutes. It is recommend that you do you role play in sections this will ensure you are able to load your files into the learning portal for assessor grading.

All role plays must be VIDEO and AUDIO recordings, please ensure you get the permission of your friend or colleague to be videoed as a part of your learning. Please ensure your role plays are recorded in MP4 format this will help with size and the ability to upload a file size no greater than 150mb.

The following FREEfile compression programs may be of assistance to you www.cloudconvert.com or www.clipchamp.com

The role play will include you and a friend or colleague

Your friend or colleague needs to understand that this is part of your assessment. Please note, that you will not be assessed on your acting ability, however you will be assessed on the criteria listed below the task under assessor feedback.

Role play case study Tim and Tina Chee

Note: Tim and Tina Chee case study is also used in the written assignment as part of this course. It is recommended that you complete the Written Assignment prior to undertaking the role play, as this will assist you in assessing the clients' needs and potential loan structure that you can use for this role play activity. Alternatively, in preparation for the role play, use the tools available to you (e.g.loan calculators) to prepare your presentation to the clients.

Background

Tim and Tina Chee are a young couple about to buy their first home. They have beenmarried for fiveyears and during that time have rented an apartment while saving for their own home.

Following a personal referral from Thomas (Tim's brother), you have already had a first meeting with Tim and Tina to discuss their objectives and needs. They admitted they have little time to do much research on lenders; have limited knowledge of the loan products available and basically are not sure what is right for them.

During (and subsequent) to your first meeting, Tim and Tina have provided the basic information documents pay slips, tax returns, bank statements, property details for review/verification. You have now undertaken your preliminary assessment and need to discuss and present to them the proposal covering the options and your recommendations. It is important to get the proposal moving quickly, as the agent has indicated other parties are interested in the property.

They have been looking at properties for the past three months and have found a 10-year-old established apartment that has really caught their eye; although they have some concern over the kitchen, whichrequires a little work.

They have not paid a deposit at this stage, but the real estate agent has provided some guidance on additional fees and charges.

Following is a summary of the details of the property they wish to purchase, the couple's financial and employment details, and the loan features they require.

The property

Address

Unit 1, 92 Seaside Lane Edgartown (Your state)

Purchase price

$490,000

Description

2 bedroom, 2 bathroom, Strata Title apartment

Agent details

Stephanie Jones

Landline

8123 1113

Mobile

0412 880 088

The couple

Current address

Unit 12, 22 Singapore Lane, Baldhills, (Your state)

Tim and Tina have lived there since March 2012

Home phone

9123 2121

Funds position

Purchase price

$490,000

Client's estimate of costs

$25,000

Total required

$515,000

Loan

$440,000 + LMI

Client's own contribution

$75,000

Use fees and charges applicable to your state. If the servicing calculator you are using requires a postcode, select one (1) that would represent a reasonable suburb/location in your city or state.

Assets

Capital Bank savings account (joint)

$78,000

Capital Bank cheque account (joint)

$1,600

Holden Commodore SS 2007 (Tim)

$25,000

Kia Cerato Sport 2015 (Tina)

$9,000

Superannuation Capital Bank (Tim)

$28,000

Superannuation Capital Bank (Tina)

$62,000

Household effects (insured value)

$40,000

Liabilities

Capital Bank personal loan (Tim)

$5,600 (repayments $180 p.m.)

Capital Bank Visa card (Tim)

$200 (limit $4,000)

Capital Bank Visa card (Tina)

$1,600 (limit $5,000)

Payments have always been met on time and any prior loans repaid in terms of contracts. The minimum monthly commitment on each of the credit cards should be calculated at 3% of the credit limit.

Living expenses

Annual expenditure for living expenses $33,000.

Employment and income

Tim (date of birth 21/2/87)

Position

Team Leader (full time)

Employer

ACE Pty Ltd, 101 City Rd, Westside (Your state)

Phone

9800 1111

Income (gross)

$58,000 p.a. monthly gross income: $4,833

Employer contact

Dwayne Johnson, HR Manager

Length of service

Since October 2005

Driver's l..c@ace.com.au

Tina (date of birth 8/10/88)

Position

Accountant (full time)

Employer

Tech City, 804 High Street, City East (Your state)

Phone

9910 2033

Income (gross)

$95,000 p.a. monthly gross income: $7,917

Employer contact

Bruce Wayne, HR Manager

Length of service

Since March 2006

Driver's l..e@techcity.com.au

Solicitor's details

Jones and Co

22 High Street, City East (Your state)

Phone: 82811382

Email: jonesandco.net.au

The solicitor has quoted a fee of $1,500 for the conveyance.

The loan requirements

30-year term

Premium option home loan features

variable interest rate (for this case use 4.5% p.a.)

LMI to be capitalised

proposed settlement date six weeks from exchange of contracts

ability to make additional payments from time to time without penalty

fortnightly repayment option

redraw facility

funds access via card.

Other information

Tina has asked if there are any professional package benefits available because she is an accountant.

Tina previously owned and lived in an apartment with her two older sisters when they attended university but they sold this before she married they did not make a lot from the sale.

The couple do not plan to have children within the next 5 years.

However, they do have plans to take a major overseas trip within 5 years.

Tim is hoping for a promotion within the next 12 months upon possible retirement of a long-term employee where he works.

Task Role play

You are required to complete the 'role play oral assessment' which should take a maximum of 10 minutes.

To set the scene for this role play:

You are required to present your analysis and recommendations to your client (friend or colleague).

Due to the need to get an approval so contracts can be signed, an appointment has been made but unfortunately one of them (this will depend on which role your volunteer plays Tim or Tina) cannot be present as he/she has had to go interstate urgently to visit a sick relative.

Your clients do not wish to delay this meeting as they are keen to hear what you have to present information can be passed to the other over the phone, when needed.

This oral presentation should focus on presenting your analysis of the couple's current position, loanprospects as well as your recommendation, covering the following essential points:

-a summary of your understanding of the clients' needs (this could be an outline summary of their proposed loan structure)

-a summary of their current financial position (use information from the case study)

-the product options you have considered that meet their needs (you should have researched at least two lenders) and details of the loan features; use the internet or if working in industry, internalsoftware to do this

-the option you recommend and the reasons for the recommendation explain how the recommended product meets the clients' needs (refer to the case study and explain why you are recommending this lender)

-confirm the key disclosures that have already been supplied to clients in the Credit Guide

-invite questions from the client and respond accordingly.

There are no rules regarding the format of your presentation, however it must be presented so that it is succinct and easily understood by clients. Please use the format that best suits you this could include covering the detail you have prepared in a written proposal document.

The role play requires your friend or colleague to ask at least three (3) questions with suggested questions the volunteer can ask other 'unrehearsed' questions if they wish. Remember, you are not being judged on your acting ability. Your assessment is about how you communicate and interact with the customer. You may need to adjust your presentation of the proposal, depending on the time that the questions are asked. However; to manage time, you may ask your friend or colleague to keep their questions until you have finished presenting your recommendations.

The assessment criteria you will be assessed on includes the following:

appropriate introduction and building rapport

explore solutions that meet clients' goals and objectives

present broker solution to clients' request

explain relative fees and charges

collaborate on risk identification

response to questions, record customer feedback and actions taken.

This is how you will be assessed Role play

Assessor checklist completed after observing the audio recording of the roleplay

Demonstrated or Notyetdemonstrated

1

Uses appropriate introduction and builds rapport

Not yet demonstrated

2

Explores solutions that meet clients' goals and objectives

Not yet demonstrated

3

Presents appropriate broker solution to clients' request

Not yet demonstrated

4

Explains relative fees and charges

Not yet demonstrated

5

Collaborates on risk identification

Not yet demonstrated

6

Responds to questions, records customer feedback and actions taken

Not yet demonstrated

Student resubmission response (if required by assessor):

i jst want informations and i ll do my own

its tim and Tina CHee case study

you can find in course hero process of credit application