Finance Broking in Practice (FBP) - Variable Interest Rate Product - Accounting and Finance Assignment Help

Assignment Task:

Task:

Short Answer Question 1
You had recommended a variable interest rate product with an offset account to your client and they emailed you and said they did not want to take up the product as it was too expensive. A cheaper product exists but you believe it doesn’t meet their needs as it does not have the features they need. Write an email in response (referred to a sales response) designed to overcome their reluctance. Ensure you sign off with your name and provide your mobile phone so they can contact you.

Short Answer Question 2
(a) Which software applications would you use to calculate a client’s financial position?

(b) All brokers are required to pass the So Sweet credit guide to their clients. Devise an item on an audit program to prove she does it.

(c) So Sweet requires all new brokers to email a summary of their efforts each week to their mentor. Devise an internal monitoring program to ensure they do it.

(d) Keeping up with new regulations is vital. Devise a mechanism to ensure the currency of regulatory literature is distributed in a timely fashion in accordance with organisational policy.

(e) How would you ensure operational procedure is updated to reflect changes to regulation and legislation, including the identification of implications for product and services?

(f) Research and calculate the cost of implementing triple bottom line principles in an office with no eco policies.

(g) Via email ask if any staff would like to undertake the triple bottom line implementation process as a business opportunity.

Short Answer Question 3
Under the laws of agency, when can a finance broker act as a limited agent of a credit provider?

Short Answer Question 4

(a) Prospecting is a continuous process of gathering the names of potential buyers who are likely to be interested in purchasing the broker's product. Select one business or professional contact e.g. brokers, business associates and associations and one person from your personal network e.g. friends and family and detail how you will contact them by using a technique from the list below or
other technique:
 advertisements
 databases
 direct mail
 internal company referral systems
 networking groups and events
 referrals
 telemarketing.

(b) You have contacted a person and have spoken to them using one of the techniques above. How would you develop and cultivate the relationship, in order to market to them and benefit the organisation, in an agreed upon timeframe?

(c) How would you cooperate with other professionals and third parties to expand and enhance the reputation of the organisation and to identify new and improved business practices?

(d) Once you get a referral how would you follow them up to secure the new business relationship?

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