Mortgage Brokering Diploma

| August 30, 2015

Mortgage Brokering Diploma

Assessment cover sheet
In order for your assessment to be marked you must complete and upload all tasks and this cover sheet via the AAMC Training Group portal. Your assessment tasks must be uploaded in an electronic format i.e. Word, Excel, PDF or Scan. Please see the step-by-step instructions in your Member Area on how to upload assessments.
Student details

:
Current occupation:
Industry:    Length of service in industry:
When you upload your assessment you will be asked to confirm that your assessment submission to AAMC Training is your own work and NOT the result of plagiarism or excessive collaboration, and that all material used from any third party has been identified and referenced appropriately. AAMC Training may conduct independent evaluation checks and contact your supervisor to discuss your assessment.
Checklist of attachments:
0 Task 1 – Short Answer Activity
0 Task 2 – Marketing Plan Project

Please indicate style of course undertaken:
0 Correspondence     0 Online 0 Face to face      Trainer’s name:
Once your assessment has been successfully uploaded it will be pending review with your nominated course assessor.  Your assessor will mark your assessment and you will receive an email advising you if you have been assessed as satisfactory. If you are marked as not yet satisfactory you will be contacted and asked to provide additional information or re-visit the assessment and re-upload your amended case study or written tasks.

ASSESSMENT TASKS
IMPORTANT INSTRUCTIONS
•    Your answers to each of the tasks are to be typed into this document or supplied electronically and uploaded.
•    No assessment word count has been specified although you are expected to provide good quality answers to each of the questions.
•    Although some general discussion between students covering the assessment is allowed your responses to each of the questions must be an individual effort.
•    PLEASE NOTE: AAMC Training only wants to see your own work. Please do not upload parts of the learning guide or instructions on how to complete. When this extra information is uploaded it presents unnecessary work for the assessors and in turn delays our assessment responses.
Task 1 – Short answer activity
1.    What benefit to your business will a well compiled marketing strategy be?

2.    List five areas you must include in your marketing research.





3.    What are three questions may you also ask yourself as part of evaluating your strategies performance?



4.    What are five areas that you should cover in your evaluation of strategies when marketing finance?





5.    Market segmentation can best be described as?

6.    Describe at least five strategies that you would employ from your EXISTING clients that would help you grow your practice.





a.    Rank these strategies in order of effectiveness. Justify these rankings and state the criteria by which you have developed the rankings.





b.    How would you implement these strategies in the form of a plan? Make sure you mention the role of other stakeholders who you may consult and collaborate with in developing the plan.

c.    List all indicators that you would use as a benchmark to evaluate the success of the plan.

d.    Describe some of the problems you may encounter once you start implementing the plan.

e.    Would you stick with the plan or would you change it as circumstances change? Why?

7.    Who would you need to consult to develop a marketing plan?

In the template provided, complete the tasks below to create a Marketing Plan. You will be required to provide detailed information within the template.
An example of a completed marketing plan is available in the Appendices section of the Learning Guide.
Task 2    Marketing Plan Project
Choose a financial services business you are interested in. It can be an already established business or it can be one you would like to create. You are going to create a marketing plan based on the objectives to add new clients and increase sales. Research using any resources available to you such as: internet, learner material or people that are involved in business. You need to encompass the following:
1.    When you have completed all other tasks below complete the Executive Summary detailing your findings of objectives, target markets and competitor analysis.
2.    Develop a vision and mission statement clearly listing your objectives.
3.    Explain who your target market is and why, and what your customer profile would be as well as how you researched this information.
4.    Perform a competitor analysis.
5.    Explain what your key marketing objectives are for your business.
6.    Describe what financial services or products you are promoting.
7.    Indicate how you are going to promote these items to include any banding that you have to assist you with promoting your business.
8.    Indicate how you plan to add new clients.
9.    Indicate how you plan to increase sales.
10.    Indicate how you plan to implement this growth.
11.    Indicate timeframes for when would be appropriate for this growth to take place.
12.    Indicate staff requirements and staff procedures need to be implemented to encompass this growth.
13.    Indicate how you will monitor/measure when you have reached your marketing objectives and your growth objectives.
14.    Advise what your contingency plans which may assist if things don’t go as planned.

The marketing plan summary is a snapshot of your more detailed answers from your marketing plan. It should be easy to read and simple to follow. ]

Your Business
Business name: [What’s your business registered business name? If you haven’t registered a business name, add your proposed business name here.]
Business structure: [What’s the formal structure of your business? Are you a sole trader, in a partnership, a trust or company?]
ABN: [What’s your registered Australian Business Number.]
ACN: [What’s your registered Australian Company Number, if applicable.]
Business location: [Where does your business operate from?]
Date established: [When did you begin trading?]
Business owner(s): [Who are the owners of the business?]
Owner/s experience: [Create a brief summary of your (and other owner’s) experience in the industry and any major achievements/awards.]
Products or Services: [What products and/or services do you sell?]

Market Overview
Target market:
[In one or two sentences, summarise the key statistics for your target market. This may include the size and growth potential of your market, as well as key demographics such as age, gender, income level etc.]
Customer profile:
[What’s the profile of an ideal customer for your business? In one or two sentences, clearly define your ideal customer – their needs, buying patterns and motivations for buying.]
Competitor profile:
[What’s the profile of a typical competitor for your business? What marketing mix do they use? Have you identified any gaps in their marketing strategy?]

Marketing Objectives
Goals/objectives:
[In one or two sentences, summarise the key marketing objectives for your business. Your objectives may be financial, with a goal to increase sales, or marketing focused to build awareness of your product or service.]

Marketing Strategy
Your strategy and marketing mix:
[Use this section to summarise the overall strategy. Whatever your strategy, you goal should be to differentiate yourself from your competitors to encourage customers to choose your business first.]

Action Steps
Top 10 Action Steps:
[Create a list of the Top 10 action steps that will bring your theoretical objectives (your marketing strategy and objectives) to life. E.g. Finish S.W.O.T. Activity Sheet, complete marketing budget]

Background Analysis

The background analysis should give a snapshot of where you are right now, where you have been and where you want to go. Undertaking this process will help you to define your business’s capabilities and find opportunities within your particular market. Finally, defining your core business elements will ensure that your marketing plan and overall business strategy work together seamlessly.

Business overview
[The overview should cover the nuts and bolts of your business including:

•    The name, structure and date of establishment
•    Details about the owners (their names, roles and levels of experience etc.)
•    What your business is about (your business mission, vision and values)
•    The key business objectives you would like to achieve
•    An outline of the main products and services sold
•    A financial analysis of your business including sales and profitability
•    A S.W.O.T. analysis of your business to set a line in the sand]
Business name: [What’s your business registered business name? If you haven’t registered a business name, add your proposed business name here.]
Business structure: [What’s the formal structure of your business? Are you a sole trader, in a partnership, a trust or company?]
ABN: [What’s your registered Australian Business Number.]
ACN: [What’s your registered Australian Company Number, if applicable.]
Business location: [Where does your business operate from?]
Date established: [When did you begin trading?]
Business owner(s): [Who are the owners of the business?]
Owner/s experience: [Create a brief summary of your (and other owner’s) experience in the industry and any major achievements/awards.]
Vision statement: [A Vision statement should describe WHERE you want your business to be in the future. It should communicate both the PURPOSE and VALUES of your business and answer the question, “Why are we here?”]
Mission statement: [A Mission statement should outline HOW you will get to where you want your business to be in the future (Your Vision). It should define the PURPOSE and PRIMARY OBJECTIVES of your business and answer the question, “What do we do?”]

Business objectives: [What are your short and long term goals for your business?]

Short Term: [What are three primary short-term goals for your business (6 Months)?]

Goal/Objective    Description    By when
[Goal/Objective name]    [Brief goal/objective description]    [Date of completion]

Long Term: [What are three primary long-term goals for your business (1-3 Years)?]

Goal/Objective    Description    By when
[Goal/Objective name]    [Brief goal/objective description]    [Date of completion]

Products: [What products and/or services do you sell?]

Product/Service    Description    Price
[Product/service name]    [Brief product/service description]    [Unit price including GST]

The Market Overview
Gathering information and identifying the key characteristics of your target market will help you to find the most effective way to reach your target customers. The Market Overview should provide an analysis of the market in which your business operates, including your customers, competitors and the market as a whole. Revisit this process regularly to ensure that your strategy remains relevant and targeted.
Your Market
Target market: [Summarise the key statistics for your target market. This may include the size and growth potential of your market, as well as key demographics such as age, gender, income level etc.]

Market research and environmental/industry analysis: [What research have you completed to help analyse your market? Did you utilise a survey/questionnaire? If so, you may like to attach a copy of your survey/questionnaire and findings to the back of this plan. In this section, detail the results of the market research you have performed. Consider questions such as:

•    Is the area experiencing population growth or decline?
•    Does the region where you operate have a stable economy?
•    Are there any seasonal variations that might affect sales?
•    What is the size of the market?
•    What recent trends have emerged in the market?
•    Is there potential for growth in the market? How will you be able to capitalise on any opportunities?
•    How will your entrance affect the market/customers?
•    What external factors will affect your customers?

Click here for more information on DIY Market Research
]

Your Customers

Target customers: [Who are your target customers and how do they behave? Include specific demographics such as age, social status, education and gender. What are your customers’ lifestyles, activities, values, needs, interests or opinions? Where are they located? Please adjust the column headings as required.]

Customer    Age    Gender    Ethnicity    Education    Location    Lifestyle    Values    Interests
[Target customer – choose a name]    [Customer’s Age]    [Customer’s Gender]    [Customer’s ethnic background]    [Customer’s education level]    [Customer’s location]    [Customer’s lifestyle]    [Customer’s values]    [Customer’s interests]

Customer profile: [What’s the profile of an ideal customer for your business? In a paragraph or two, clearly define your ideal customer – their needs, buying patterns and motivations for buying. This process will help you to develop a mental image of your ideal customer (often referred to as a customer avatar).]

Your Competitors
Competitor analysis: [Use the table below to analyse at least 5 competitors.]

Competitor    Established date    Size    Market share (%)    Value offered to customers    Strengths    Weaknesses
[Competitor’s name]    [When was their business established?]    [Number of staff and/or turnover]    [Estimated percentage of market share]    [Unique value to customers, e.g. quality, price or customer service?]    [What are your competitor’s main strengths?]    [What are your competitor’s main weaknesses?]

Competitor profile: [What’s the profile of a typical competitor for your business? In a paragraph or two, clearly define a typical competitor – their size, market share, unique value proposition, strengths and weaknesses. This process will help you to develop a mental image of your typical competitor.]

Your Marketing

Marketing Objectives: [Summarise the key marketing objectives for your business. Your objectives may be financial, with a goal to increase sales, or marketing focused, to build awareness of your product or service. An effective (and accountable) way to define your marketing objectives is to follow the ‘SMART’ acronym (Specific, Measurable, Achievable, Realistic and Timely) .

Examples of SMART marketing objectives

?    To achieve a 20% return on capital employed by April 2014 (Profitability Objective)
?    To gain 15% of the market for sports socks by November 2018 (Market Share Objective)
?    To make X brand of juice the preferred brand of 21-29 year old females in Australia by August 2019 (Branding Objective)

Detail your SMART marketing objectives in the table below:]

Objective    Specific    Measurable    Achievable    Realistic    Timely
[Your specific marketing objective]    [Is your objective specific?]    [Can your objective be measured?]    [Is your objective achievable?]     [Is your objective realistic?]    [Have you set a specific date for your objective to be achieved?]

Marketing Strategy: [Use this section to detail the overall strategy you will use to position yourself within the market to meet your customers’ needs. Whatever your strategy, you goal should be to differentiate yourself from your competitors to encourage customers to choose your business first. The specific elements that make up your marketing strategy are typically referred to as the marketing mix. Each element can be varied to broaden the appeal of products and services, and will therefore have a direct impact on sales.

The 8 P’s of marketing

1    Your PRODUCT (or SERVICE)
2    The PRICING of your product or service
3    Your POSITION (place) in the marketplace
4    The PROMOTION of your product of service
5    The PEOPLE in your business (salespeople, staff etc.) [link]
6    The PROCESS represents the buying experience [link]
7    The PHYSICAL environment where the good/services are presented [link]
8    PRODUCTIVITY and Quality is an essential part of meeting customer needs [link]

Click any of the links above to find out more about a specific element and how it can be applied.]

1.    Your PRODUCT (or SERVICE)

[Here you should describe your long-term product strategy in detail. If you are providing a service then you should consider your service(s) as your product(s).
You will need to consider:
•    What features and benefits do you offer?
•    The unique selling position – what makes your product/service different from your competitors’?
•    Potential spin-off products or services?]

Product or Service    Features    Benefits    Unique Selling Position    Support    Spin Offs
[What is your product or service?]    [What are the features of your product or service?    [What are the customer benefits of your product or service?]    [What makes your product or service unique?]     [What additional support do you offer? E.g. warranty, money back etc.]    [Are there any potential spin-off products or services you can offer?]

The PROMOTION of your product or service
[State how you currently promote and market your business now (or intend to). Compare (where applicable) what your competitors do for promotion, noting what does and doesn’t work for them as well as yourself. Regardless of how good your business is, if you don’t promote it and tell people you exist, it’s unlikely you will make many sales.
Promotion is more than selling and advertising your business. It’s about attracting the right people to use and reuse your business. There are a number of techniques to use and they can be combined in various ways to create the most cost effective strategy for your needs.
Detail your promotion techniques into six categories:
•    online
•    public relations
•    advertising
•    promotion
•    packaging or personal selling
•    branding
•    direct marketing is often added to the marketing mix despite being part of advertising rather than marketing.]

Product or Service    Online    Public Relations    Advertising    Promotion    Packaging    Branding
[What is your product or service?]    [What online strategies are you using?]    [What PR strategies are you using?    [What advertising strategies are you using?]     [What promotion strategies are you using?]    [What packaging strategies are you using?]    [What branding strategies are you using?]

2.    The PEOPLE in your business (salespeople, staff etc.)

[Every employee in your business (if you have them) can influence the marketing of your products and services. Knowledgeable and friendly staff can contribute to creating satisfied customers, and can provide the unique selling experience that an organisation is often seeking. If an outstanding team provides a competitive advantage, then the quality of recruitment and training becomes essential to achieving your marketing objectives.

Some questions to consider when assessing your team members:

•    Are they prepared to talk with clients in detail about your products and services?
•    Do you have training in place to drive constant improvement?
•    Do your team understand the process for handling client interactions?
•    Are staff members empowered to make decisions (and act) on the business’s behalf?
•    Do they have the communication skills to be effective?
•    Do staff members ‘live’ your brand when they are at work?]

Name    Job Title    Department    Responsibilities
[Mr Chris Brantley]
[e.g. Marketing/ Sales Manager]    [e.g. Sales]    [What are the main responsibilities of this position?]

Marketing Activity

[Once you have defined your marketing mix, the next step is to detail the specific activities that you will undertake to achieve your marketing objectives. As you create these activities, keep referring back to your marketing mix – it will help you to assess which activities are worth the time and effort to implement.

What steps or activities will you undertake to achieve your marketing objectives?]

Marketing activity/milestone    Person responsible    Date of expected completion    Cost ($)    Success indicator
[Print advertising, online advertising, mail-out, giveaway, media release, event, website, blog/social media, public relations, branding and artwork, or publications and catalogues.]    [Who is responsible for completing this task?]    [When do you expect to complete the marketing activity?]    [Estimated cost of activity.]    [What indicator/ measurement result will need to be met before this activity is considered a success?]

Organisational Implications

[Organisational implications are often overlooked when business owners tackle a marketing plan. For example, if your goal is to increase your customer base by 15% and therefore your staff by 10% – will you be able to house them in your current offices? Could you outsource some tasks? It’s important to consider and document these decisions in your plan.

Use the space below to outline any organisational implications, which you feel may affect the implementation of your marketing plan.]

Contingencies

[All plans in business should remain flexible (and adjustable) as you are often working with assumptions. The more planning you do, the better you will become at predicting. However, as you are learning the needs of your market – it is fair to say that some of your assumptions are going to fall short of expectation.

Use the space below to outline any contingencies (alternative options) which may assist if things don’t go as planned.]

Monitoring/measurement activities

[Reviewing the impact of your marketing should be a periodic activity. List the details of each review in the table below.]

Marketing activity    Date of review    Monitoring methods    Review outcomes
[Print advertising, online advertising, mail-outs, giveaways, media releases, events, website, blog/social media, public relations, branding and artwork, or publications and catalogues.]    [e.g. Month/Year]    [What tools did you use to measure/monitor the impact of your marketing activities?]    [e.g. What were the results for the promotional period? What were your sales/profit figures? How many new/repeat customers did you receive? How many customers visited your website? Etc.]

13.

BSBRSK401A ASSESSMENT;

IMPORTANT INSTRUCTIONS
•    Your answers to each of the tasks are to be typed into this document or supplied electronically and uploaded.
•    No assessment word count has been specified although you are expected to provide good quality answers to each of the questions.
•    Although some general discussion between students covering the assessment is allowed your responses to each of the questions must be an individual effort.
•    PLEASE NOTE: AAMC Training only wants to see your own work. Please do not upload parts of the learning guide or instructions on how to complete. When this extra information is uploaded it presents unnecessary work for the assessors and in turn delays our assessment responses.
Task 1 – Written activities
1.    Name the two categories of risk.


2.    Pure risk or speculative risk—which one can usually be mitigated by transferring the risk to another party i.e. insurance company?

3.    What are the four steps in the risk management process?




4.    In assessing credit risk from a single borrower, a lender must consider what three issues?



5.    The five Cs analysis frame work is the most common of all expert systems. It involves examining the borrower using the five key principles in lending; list them.





6.    What are the more common types of security?

7.    What does the PARSER analysis method consider?

Task 2 – Project
a.    Using the table below, make a list (minimum of two) on what you perceive to be risks for each of the key risk areas for Finance/Mortgage Industry representatives AND list who would be the internal and external stakeholders in the risk identification process.
Financial and Economic    Stakeholder/ s    Manage Safety & Health     Stakeholder/s

Regulatory/Legal     Stakeholder/ s    Professionalism and Reputation    Stakeholder/s

Sales documentation    Stakeholder/s

a.    Once completed; provide a brief commentary on your understanding of the Australian Standard AS/NZS ISO 31000:2009 Risk management — Principles and guidelines, i.e. definition and how it affects you as a Finance/Mortgage Industry representative.

Task 3 – Case study
Clients are expanding their business operations into a franchise opportunity and while they have not had their financials prepared by their accountant for the last two years they want to use their family home as security and obtain a loan. The clients also inform you that they have a fair bit of cash available to assist in meeting the repayments if required.
You are just about to meet these clients for the first time. Use the risk register below to identify and describe three potential risks to your organisation, and three potential risks to the client arising from this proposal. Remember, when identifying risk, you need to consider both what can go wrong and how it can go wrong.
Risk    L    C    Risk rating
(LxC)    Comments
Your organisation’s risks

Client risks

Task 4 – Report
Select a risk from the risk register that you developed in Task 2, and develop a risk action plan for this risk.
Risk Item no         Describe risk item
Responsible area
Initial assessment     Likelihood –
Consequence –
Rating –

PREVENTATIVE ACTIONS
Training
Operational
Managerial
Resource requirements
Responsibilities
CORRECTIVE ACTIONS
Training
Operational
Managerial
Resource requirements
Responsibilities
MONITORING & REVIEW ACTIONS

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