Henderson MCQ Guide & Assessment
Student’s name: |
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. A maximum of five (5) attachments (maximum 20MB each) can be uploaded for this assessment. Please see the step-by-step instructions in your Member Area on how to upload assessments.
Once your assessment has been uploaded it will be pending review with your nominated course assessor and marked within 5-10 working days. You will receive an email advising that you have been marked as “satisfactory” or “additional information required”.
I certify that this work is my own, that I have not duplicated the information from another source. I also state that I have referenced appropriately all information that I have gathered from other sources.
I understand that plagiarism is a form of cheating. It is taking and using someone else’s thoughts, writings or inventions and representing them as my own. I also understand that plagiarism is a serious act and may result in a student’s exclusion from a module or a course.
Checklist of attachments:
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☐ Task 1 – PART 1: SOCA document – Questions 1 and 2 |
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☐ Task 2 – PART 1: File Notes – Questions 1 and 2 |
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☐ Task 3 – Completed loan application |
Please indicate style of course undertaken:
☐ Online ☐ Virtual Class
If you have queries relating specifically to your assessment please log an ‘Assessment Query’ under the HELP tab on your Members Area dashboard and a Student Support officer will respond.
Alternatively, if you have an administration query please go to ‘Admin Query’. For example: I am having trouble with uploading my assessments and require assistance – can you please help me with this?
If you need to speak to someone during office hours, please contact us by:
Phone | +61 (03) 9391 3643 or +61 (0)8 9344 4088
Email | [email protected]
CREDIT TRANSFERYou may be able to claim credit transfer for a unit/s of competency that you have previously completed with AAMC Training or another RTO. If you have been awarded a record of result or statement of attainment for any of the units detailed below then please go to the Credit Transfer tab in your Learning Centre and follow the prompts. This assessment relates to the following units of competency: FNSFMB411 Prepare loan applications on behalf of clients FNSFMB412 Identify client needs and present broking options FNSINC412 Apply and maintain knowledge of financial products and services FNSCRD401 Assess credit applications (Certificate IV students only) FNSFMB511 Implement credit contracts in preparation for settlement (Certificate IV students only) FNSSAM413 Identify and provide initial information to potential new clients (Certificate IV students only) Please refer to AAMC Training’s full Recognition Policy for further details. |
This assessment is to be completed in three parts and submitted as one assessment.
Task 1 – Statement of Credit Assistance (SOCA)
This SOCA has been designed for training purposes only. A SOCA found in many workplaces will be more comprehensive. There are two parts to the SOCA.
Part 1 has two questions to answer within this document and upload along with Tasks 2 & 3.
Part 2 is laid out like a SOCA but the 30 questions are completed online in the Henderson SOCA MCQs multi-choice assessment system in your Learning Centre. There is no time limit in completing the multi-choice assessment.
Open the embedded Henderson Case Study Scenario on Cheryl Ann Henderson and Alan Jacob Henderson. We strongly advise you have this document open and alongside whilst answering the Henderson SOCA MCQ questions. On some occasions we will refer you to certain areas of this document and/or the Learning Guide.
If you are unable to open the embedded documents in this assessment, go to your Resources tab in the Learning Centre where you will find all assessment resources.
Part 1 – SOCA
Question 1 – Fees and Charges
Referring to the fees and charges table in the Henderson Case Study Scenario, select the correct fees and charges payable by the client.
Statement of Credit Assistance for Cheryl Ann Henderson and Alan Jacob Henderson |
Credit Proposal Disclosure |
Category |
Amount |
Application Fee |
☐ $600☐ $500☐ $300 |
Settlement Fees |
☐ $0☐ $150☐ $300 |
Establishment Fees |
$0 |
Valuation Fees |
$0 |
Other Upfront Fees |
$0 |
Government Fees (payable at settlement)Stamp dutyGovt. Mortgage registrationGovt Transfer fee |
Govt. Mortgage registration☐ $3,000☐ $147.70Govt Transfer fee☐ $56.70☐ $147.70 |
Estimated Legal Fees |
$ 1,197.39 |
Lender Custom Fee |
$0 |
Lenders Mortgage Insurance |
$7,150.31 |
Broker Fee |
$0.00 |
Total Fees (Payable by client) |
$9,093.10 |
Total Fees (Payable from Loan) |
☐ $7,150.31☐ $9,895.71☐ $6,350.35 |
Question 2 – Loans for Construction
Refer to the Case Study, ‘Research provided by the broker’ and ‘How do progress payments work’.
You would provide the Hendersons with information of the progress payment stages.
Put the construction progress payment stages in the correct order. 1 is the first stage, 2 is the second stage and so on.
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Information shared by the credit representative |
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Loans for construction |
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Order Number |
The correct order of the building stage |
Communicate and follow up with the Henderson’s |
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Frame stage |
When the builder has completed the frame. |
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Fit out or fixings stage |
When the builder has completed the fit out or fixing. |
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Slab or base stage |
When the builder has completed the base stage. |
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Completion stage |
When the builder has completed the build. |
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Lockup stage |
When the builder has completed the lock up stage. |
Part 2 – Multi-Choice Assessment
Using the Henderson Case Study Scenario you used in Part 1, complete the Henderson SOCA MCQs assessment in your Learning Centre. Use the following information to understand the context of the questions and see the flow of information used in a SOCA. Where the instruction says ‘Answer…’ you need to go to the question in the multi-choice assessment and complete it. There are also places where it says, ‘Information Only’, these areas are not being assessed but support the structure and the flow of the SOCA.
Statement of Credit Assistance for Cheryl Ann Henderson and Alan Jacob Henderson |
Information about the credit required |
Answer multi-choice questions 1 and 2 |
Henderson’s circumstances, goals and priorities |
Answer multi-choice question 3 |
Henderson’s financial awareness and habits |
Information Only |
As a broker you would feel comfortable knowing that the Hendersons have a good level of financial awareness so this is the point where you would be asking them to explain to you what they understand so far in the process. |
Foreseeable material changes |
Answer multi-choice question 4 |
Financial information |
Answer multi-choice questions 5 – 10 |
Maintaining updated information |
Information Only |
You must use the latest version of your broker software and compliance documents to ensure you are constantly up to date to ensure you are offering your clients the best product options you can. |
Product comparison report |
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Comparison between the product and features The Product Comparison Report in the Henderson Case Study Scenario has been produced using current industry software for the Hendersons’ circumstances, requirements, goals, objectives and the features relevant to them. The Hendersons will need to choose their desired product before the broker can complete the SOCA. The broker cannot complete the loan application until the clients have signed the SOCA (ensure the clients sign and date the SOCA). |
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RecommendationBased on the Hendersons’ circumstances, requirements, objectives and the features relevant to their goals and objectives, we recommend that they apply for the credit product(s) below. Refer to the Product Comparison Report to answer some of the following questions. |
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Answer multi-choice questions 11 and 12 |
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Reasons for recommendation |
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Answer multi-choice question 13 |
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Interest rate |
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Information only |
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You would provide an explanation of why the other lender options’ interest rates wouldn’t meet their needs. |
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Loan amount |
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Use this table to answer Q14 |
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Capacity |
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Answer multi-choice question 15 |
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Loan structure |
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Answer multi-choice question 16 |
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Specialist advice |
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Answer multi-choice question 17 |
Preferred Loan Features |
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This is a summary of the specific loan features the Hendersons have requested. Please ensure you have read and understood the characteristics associated with each feature. |
Answer multi-choice questions 18 – 21 |
Information Only |
Before making your final recommendation to your clients you would have reasoning as to why the other products in the Product Comparison Report are not suitable for their needs and priorities. |
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Commissions |
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Answer multi–choice question 22 |
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Signing and acknowledgements |
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Information Only |
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In this part of the SOCA you would also be checking that the Hendersons’ names and signatures match their I.D. |
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Answer multi–choice question 23 |
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Answer multi–choice question 24 |
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Credit assistance provider details |
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Information only |
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In this section of the SOCA you would also be providing your client with your company’s and your own details e.g. name, credit representative number, contact details, ABN/ACN, licensee name and number and lender accreditations. |
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Answer multi–choice question 25 |
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Information shared by the credit representative – Construction loans |
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Answer multi–choice question 26 |
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Answer multi–choice question 27 |
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Answer multi–choice question 28 |
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General Questions |
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Answer multi–choice question 29 – Refer to the BID Report in the Henderson Case Study Scenario |
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Answer multi–choice question 30 |
Task 2: File Notes
The following File Notes task is to be completed in two parts.
Part 1 consists of two questions to be answered within this document and uploaded along with Tasks 1 & 3.
Part 2 is completed in the multi-choice assessment system in your Learning Centre (Henderson File Notes MCQ) and is made up of 19 questions. There is no time limit in completing the multi-choice assessment.
Open the embedded Henderson Case Study Scenario on Cheryl Ann Henderson and Alan Jacob Henderson. We strongly advise you to have this document open alongside your assessments so that you can answer the following Henderson File Note MCQ questions.
We will refer you to particular areas of this document and/or the Learning Guide on occasion.
If you are unable to open the embedded documents in this assessment, go to your Resources tab in the Learning Centre where you will find all assessment resources.
PART 1
Answer questions 1 and 2 following the instructions within the questions and upload within this document.
Question 1 – Servicing estimator
File Notes |
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7/6/20XX |
Supporting documents collected and serviceability checked. Please open the Helia Servicing Estimator web page link below. This should open in your browser. Scroll down the servicing estimator page to Applicant Details. You will see fields under the heading of Applicant details and Loan Commitment Details. Please enter the correct information into each of the fields: Applicant details Total annual gross income ($) – Add both applicants’ joint income For the purposes of this servicability question only, Cheryl has been promoted to Senior Solicitor at her firm, which increased her gross income to $170,000.00. Alan is on the same salary as in the scenario. Number of applicants Number of dependents Loan and commitment details Loan amount ($) Loan term – enter 30 years Total monthly commitments (ensure you add the declared monthly expenses to the monthly car payment found in the assets and liabilities statement and add estimated Virgin credit card expense of the $221.00)
Total monthly commitments Declared monthly expenses $Click here to enter amount + monthly car payment $Click here to enter amount + Virgin credit card expense $221.00 = Total monthly commitments $Click here to enter amount Tick the box “I have read and agree with the Privacy Policy and Disclaimer” and then click calculate to produce your report. Once the report is on your screen take a screen shot and insert below OR right click and select print – select save as image and insert below. |
Question 2
File Notes |
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14/6/20XX |
Lender chosen and reason given Refer to the Henderson Case Study Scenario. Provide four features and the reasons they met the Henderson’s needs using professional language, in the file notes below. Remember, file notes can be used in Court so must always be written to present a professional determination. |
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Example: The Henderson’s approved the Virgin product because LMI is available on construction loans. |
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1. |
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2. |
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3. |
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4. |
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Part 2 – Multi-Choice Assessment
Using the Henderson Case Study Scenario you used in Part 1, complete the Henderson File Notes MCQ in your Learning Centre. Use the following information to understand the context of the questions. Also, this file notes template has been designed to show you the dated order of tasks to be completed from beginning to end and to highlight that you would put supporting notes in these sections. The greyed out rows are not being assessed but are there for your information only.
Date |
File Notes |
01/06/20XX |
Cold Calling |
Once a week you allow two hours of cold calling in your day-to-day operation, as DNZ Financial Services Pty Ltd purchased a database to allow their credit representatives to prospect for new clients. Before calling you check the client is not on a do not call register and that you are calling during a working day. In order to gain Mr Alan Henderson as a client and prospect for any financial opportunity in relation to products and services you undertook a cold call to him. |
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Answer multi–choice question 1 |
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Answer multi–choice question 2 |
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Answer multi–choice question 3 |
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Answer multi–choice question 4 |
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03/06/20XX |
Initial interview – Privacy and Credit guide |
The initial interview with the Hendersons requires you to explain your background, qualification/s, role and the complaint handling and resolution procedure.This has been covered in a conversation with the Hendersons. The conversation will be followed up with an email outlining what was said. The credit guide and the privacy form will be attached to the email. |
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Answer multi–choice question 5 |
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03/06/20XX |
Client Needs Review |
Answer multi–choice question 6 |
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07/06/20XX |
Supporting documents collected and serviceability checked |
Answer multi–choice question 7 |
07/06/20XX |
Costing sheet completed |
09/06/20XX |
Product Comparison Report sent to client |
14/06/20XX |
Lender chosen and reason given |
Answer multi–choice question 8 |
14/06/20XX |
Lender Chosen and reason given – also assessed in File Notes Part 1 Q2 |
14/06/20XX |
SOCA – Preliminary credit assessment sent to client |
14/06/20XX |
SOCA – Credit Proposal/Disclosure |
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Date |
File Notes |
14/06/20XX |
Conflicts of interest |
Answer multi–choice question 9 |
14/06/20XX |
SOCA – Best Interests Duty (BID) met and any educational materials provided to clients. |
14/06/20XX |
Serviceability calculator completed and printed for file |
16/06/20XX |
Valuation ordered |
Answer multi–choice question 10 |
18/06/20XX |
Valuation report back $600,000 |
22/06/20XX |
Application form completed |
23/06/20XX |
Loan submitted and supporting docs faxed or emailed |
27/06/20XX |
Conditional and formal approvals and notifications |
Answer multi–choice question 11 |
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Answer multi–choice question 12 |
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Answer multi–choice question 13 |
12/07/20XX |
Solicitor advised |
16/07/20XX |
Mortgage documents |
Answer multi–choice question 14 |
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Answer multi–choice question 15 |
20/07/20XX |
Mortgage docs returned |
22/07/20XX |
File certified |
Answer multi–choice question 16 |
23/07/20XX |
Settlement booked |
24/07/20XX |
Settlement figures reconciled |
Answer multi–choice question 17 |
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Answer multi–choice question 18 |
24/7/20XX |
Settled (Land) |
16/09/20XX05/10/20XX30/10/20XX 20/11/20XX Final 16/12/20XX |
Construction drawdowns |
16/12/20XX |
Survey / gift sent |
20/01/20XY |
File archived |
“At DNZ Financial Service Pty Ltd files are to be archived and ready for audit. The file audit checking process for DNZ Financial Service Pty Ltd is as follows:Completion of all required paperworkClient’s data gathering, requirements and objectives were satisfiedAppropriate lending options were provided in line with client requirements and lending policyLending options negotiated with duty of careSufficient and orderly file notes in chronological orderAdequate notes to the lender supporting the loan and mitigating any concerns All documents signed and dated correctlyAll supporting evidence correctly checked and verifiedArchive all NCCP documents uploaded to the system, along with all the supporting documents, loan application and notes to the lender and stored in the system for a minimum of 7 years.All files are to be cleansed, returning any original documents to the clients.Hard copy files to be shredded after internal audit checks are done.” |
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Answer multi–choice question 19 |
Task 3 – Henderson Loan Application
STUDENT INSTRUCTIONS – HOW TO COMPLETE THIS ‘LOAN APPLICATION’
This loan application is an assessment tool but has been designed to resemble a real-world application form. The Henderson Case Study Scenario provides you with all the details required to accurately complete this Loan Application. The greyed-out sections have been pre-populated as you will have already provided this information in either the Statement of Credit Advice (SOCA) and the Serviceability Calculator.
The following questions/sections (in blue) require the information to be filled in or boxes checked. These will be subject to assessment and will require 100% correct responses to achieve a Satisfactory outcome.
To help you find the questions/sections of the loan you need to complete, it is recommended you come back to the table below and tick the check box under the DONE column as you complete it to make sure you have addressed everything prior to submitting your assessment.
When marking, the Assessor will only highlight the ‘NO’ column under ‘IS IT CORRECT?’ if the answer is incorrect and return this form to you for you to resubmit your correct response/s.
Example of what the request for resubmission will look like:
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DONE |
NO. |
QUESTION |
IS IT CORRECT? |
☐ |
1 |
Tick the Personal Identification required |
NO |
If you don’t tick the boxes in the DONE column, this is not an error as the Assessor is not assessing this; it is just a support for you to remember where you are up to and to make sure you don’t miss a section.
Henderson Loan Application
Questions 1 – 4
Select the correct information required for this loan application based on the Henderson case study scenario.
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1. Select three forms of identification required |
2. Select the two options for this loan. |
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☐ Birth certificate☐ Driver’s licence☐ Photo ID card
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☐ Purchase established property ☐ Land ☐ Construction☐ An investment ☐ Owner occupied |
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3. Select the correct option for FHOG. |
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Are you eligible for the First Home Owners Grant (FHOG)? ☐ Yes ☐ No |
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4. Select the one which applies to the requirements of this loan. |
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☐ Registered builderPlans and specifications (e.g., council approval plan, building permit)Signed fixed price building contractCopy of builder’s insurance |
☐ Owner builder/subcontractorPlans, permits and licences (e.g., council approved plan, building permit)Work timing scheduleExpenditure budgetBuilding and indemnity insuranceQuotations and estimatesSoil test and quantity survey |
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Financial objectives for seeking credit |
To obtain a loan to fund purchasing a block of land and construction costs. Property Address is 47 Queen Street, CANLEY HEIGHTS, NSW, 2166. |
You also require loan facilities such as 100% offset account, redraw, internet banking, ability to make additional repayments, standard variable interest rate, monthly loan repayments. |
Apply for FHOG, LMI to be capitalised. |
5. Complete the Costings as provided in the case study scenario.
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Land & construction costs |
*Est cost of legal fees, stamp duty etc. |
Total Cost |
Personal contribution + FHOG |
TOTAL Amount of loan |
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$ |
Enter amount |
+ |
$ |
Enter amount |
= |
$ |
Enter amount |
– |
$ |
Enter amount |
= |
$ |
Enter amount |
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*You can calculate the Stamp Duty and other costs of buying your home by using the financial calculators |
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☐ *To refinance from which financial institution? |
Current Balance/Limit |
$ |
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☐ To increase my existing home loan |
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☐ Consolidation |
Account number |
by |
$ |
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☒ Other (specify type) |
To obtain a new loan |
Amount |
$ |
522,150 |
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Details about You (read only, designed and pre-populated for authenticity)
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Applicant/ Borrower 1 |
Applicant/ Borrower 2 |
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☒ Mr ☐ Mrs ☐ Miss ☐ Ms ☐ Other |
☐ Mr ☒ Mrs ☐ Miss ☐ Ms ☐ Other |
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Surname |
Henderson |
Surname |
Henderson |
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Given name/s |
Alan Jacob |
Given name/s |
Cheryl Ann |
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Date of birth |
04/01/19xx |
Date of birth |
03/03/19xx |
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Driver’s licence number |
AAA1234 |
Driver’s licence number |
BBB12234 |
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Permanent Australian resident ☒ Yes ☐ No |
Permanent Australian resident ☒ Yes ☐ No |
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Are you an Australian resident for tax purposes? |
Are you an Australian resident for tax purposes? |
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Marital status |
Marital status |
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☒ Married ☐ De facto ☐ Single ☐ Other |
☒ Married ☐ De facto ☐ Single ☐ Other |
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Number of financial dependants |
2 |
Number of financial dependants |
2 |
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Contact details |
Contact details |
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We may use your contact details to communicate the progress of your application to you |
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Home telephone number |
02 8764 3210 |
Home telephone number |
02 87643210 |
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Email address |
Email address |
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Work telephone number |
87643210 |
Work telephone number |
65432101 |
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Mobile number |
0419 999 999 |
Mobile number |
0416 667 901 |
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Home address |
17 Capital Court, Canley Heights, NSW, 2166 |
Home address |
17 Capital Court, Canley Heights, NSW, 2166 |
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Postal address – if different to above |
Postal address – if different to above |
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Residential details |
Residential details |
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☐ Owner with mortgage ☐ Owner no mortgage ☐ Boarding ☐ Supplied by employer ☐ Living with relatives ☒ Renting |
☐ Owner with mortgage ☐ Owner no mortgage ☐ Boarding ☐ Supplied by employer ☐ Living with relatives ☒ Renting |
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Name of owner/agent |
Flying High Estate Agents |
Name of owner/agent |
Flying High Estate Agents |
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When did you move to the above address? |
4 yrs. ago |
When did you move to the above address? |
4 yrs. ago |
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Previous home address – if under 3 years at present home |
Previous home address – if under 3 years at present home |
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Employment |
Employment |
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☒ Full-time ☐ Part-time ☐ Self-employed ☐ Casual ☐ Other |
☒ Full-time ☐ Part-time ☐ Self-employed ☐ Casual ☐ Other |
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Employer name |
Hi-Temp Gas |
Employer name |
Smiths Legal |
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Employer address |
21 Alwyn Street, Canley Heights, NSW, 2166 |
Employer address |
Suite 14, 12 Flinders Street, Canley Heights, NSW, 2166 |
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Employer telephone number |
87643210 |
Employer telephone number |
65432101 |
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Occupation/Job title |
Marketing Manager – National Clients |
Occupation/Job title |
Solicitor |
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Date commenced with this employer |
6 years ago |
Date commenced with this employer |
6 years ago |
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If Self-employed, please provide Accountant’s details |
If Self-employed, please provide Accountant’s details |
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Accounting firm |
Accounting firm |
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Contact name |
Contact name |
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Telephone number ( ) |
Telephone number ( ) |
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Previous employment if under three (3) years with present employer |
Previous employment if under three (3) years with present employer |
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☐ Full-time ☐ Part-time ☐ Self-employed ☐ Casual ☐ Other Worked there years months |
☐ Full-time ☐ Part-time ☐ Self-employed ☐ Casual ☐ Other |
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Employer name |
Employer name |
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Work telephone number |
Work telephone number |
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Occupation/Job title |
Occupation/Job title |
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6. Complete this section based on the information provided in the case study scenario.
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Applicant 1 – Closest relative NOT living with you |
Applicant 2 – Closest relative NOT living with you |
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Name |
Click and type name |
Name |
xxxxxx |
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Relationship |
Click and type relationship |
Relationship |
xxxxxx |
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Address |
Click and type address |
Address |
xxxxxx |
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Telephone number |
Click and type telephone number |
Telephone number |
xxxxxx |
Solicitor/Conveyancer
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Contact name |
Louise Stratton |
Company name |
Lightning Settlements |
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Address |
Suite 3, 4 Business Ave, Canley Heights |
Telephone number |
1000 4000 |
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7. Select the correct answers from the information provided in the case study scenario.
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Your Financial History |
Your Financial History |
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Applicant / Borrower 1 |
Applicant / Borrower 2 |
Has there ever been or are there now any financial judgments, bankruptcy notices, attachments or legal proceedings against any applicant? |
Has there ever been or are there now any financial judgments, bankruptcy notices, attachments or legal proceedings against any applicant? |
☐ No ☐ Yes ☐ N/A ☐ No information provided |
☐ No ☐ Yes ☐ N/A ☐ No information provided |
Have you had any difficulties in making your loan repayments in the past 2 years? |
Have you had any difficulties in making your loan repayments in the past 2 years? |
☐ No ☐ Yes ☐ N/A ☐ No information provided |
☐ No ☐ Yes ☐ N/A ☐ No information provided |
Do you foresee any major change to your employment, income &/or expenses over the next 12 months that will make it difficult for you to meet your financial commitments? |
Do you foresee any major change to your employment, income &/or expenses over the next 12 months that will make it difficult for you to meet your financial commitments? |
☐ No ☐ Yes ☐ N/A ☐ No information provided |
☐ No ☐ Yes ☐ N/A ☐ No information provided |
Security Details
8. Select the correct security details in tables (A), (B), (C), (D) and (E) based on the case study scenario.
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(A) BUILDING DETAILS |
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Walls: ☐ Brick ☐ Timber ☐ Fibro ☐ Other |
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Roof: ☐ Tile ☐ Aluminium ☐ Steel ☐ Other – Click to type detail |
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Levels: ☐ 1 ☐ 2 ☐ 3 ☐ Other |
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Bedrooms |
Type here |
Land area (m2) |
Type here |
Garage/car space |
Type here |
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Bathrooms |
Type here |
Dwelling (m2) |
Type here |
Driveway |
Type here |
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Family/living rooms |
1 |
Perimeter fence (m2) |
XXXXX |
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(B) LEGAL NAMES TO BE REGISTERED ON TITLE |
(C) ENTER THE ADDRESS OF THE PROPERTY BEING PURCHASED |
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Type legal names |
Type address |
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Estimated market value $ 600,000 |
Purchase price $600,000 |
Purchase date |
Type date |
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Settlement date |
Type date |
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Proposed occupants ☒ Self ☐ Tenants |
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(D) SELECT THE APPROPRIATE SECURITY TO BE USED FOR THIS LOAN |
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☐ House ☐ Townhouse ☐ Unit ☐ *Serviced apartment ☐ Student Accommodation ☐ Apartment – is the apartment one of six (6) or less? ☐ Other – Click to type detail |
(E) ENTER THE SECURITY ADDRESS |
Type address of security property |
Assets & Liabilities
9. Select the four forms of evidence required for this loan application based on the case study scenario.
|
☐ Recent council rate notices |
☐ Details of Superannuation |
|
☐ Recent PAYG slips |
☐ Receipt of deposit paid |
|
☐ Most recent transaction/savings account statements |
☐ Current vehicle registrations |
|
☐ Most recent credit card/ loan statements |
☐ Proof of any other assets listed |
|
Accounts (Bank, Credit Union, Building Soc., etc.) |
||||||||
|
App 1 |
App 2 |
Joint |
Other (Specify) |
Financial Institution name |
Balance |
|||
|
☒ |
☒ |
☐ |
☐ |
NAB |
$ 944 |
|||
|
☒ |
☒ |
☐ |
☐ |
Bankwest |
||||
|
☐ |
☐ |
☐ |
☐ |
$ |
||||
|
Motor Vehicle/Boat/Caravan |
||||||||
|
Make |
Model |
Year of Manufacture |
Present Value |
|||||
|
1 Mitsubishi (Alan) |
Outlander |
20xx |
$ 27,000 |
|||||
|
2 |
$ |
|||||||
|
3 |
$ |
|||||||
|
All other assets – Shares, Managed Investments etc. (except usual home contents) |
Present Value |
|||||||
|
1 Shares (Cheryl) |
$ 25,000 |
|||||||
|
2 Collectibles (Alan) |
$ 40,000 |
|||||||
|
3 |
$ |
|||||||
|
Total value of your assets |
$ 144,944 |
|||||||
|
Sundry assets – do not add into total assets |
||||||||
|
Home contents (Insured value) |
$ 95,000 |
|||||||
|
Superannuation (Estimate your current payout) |
$ 267,001 |
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|
Personal Loan |
||||||
|
App 1 |
App 2 |
Financial Institution |
Purpose |
*Current limit/original loan amount |
Amount now owing |
|
|
☒ |
☐ |
ANZ |
Car Loan |
$ 27,000 |
$ 21,000 |
|
|
Credit/Store card/s (include even if balance is nil) |
||||||
|
App 1 |
App 2 |
Financial Institution |
Current type |
Credit limit |
Amount now owing |
|
|
1 ☒ |
☐ |
NAB |
VISA |
$ 5,000 |
$ 0 |
|
|
2 ☐ |
☐ |
$ |
$ |
|||
*Current limit is the amount now owing plus any available redraw
Monthly Budget
|
MONTHLY INCOME |
MONTHLY EXPENDITURE |
||||||||||
|
Salary |
Gross salary |
After tax salary |
Loan repayments/proposed |
Pre loan |
Post loan |
||||||
|
App 1 income |
$ 9,250 |
$ 6,677 |
Proposed home loan |
$ 0.00 |
$ 2,313.92 |
||||||
|
App 2 (if joint loan) |
$ 10,000 |
$ 7,134 |
ANZ Car Loan |
$ 539.88 |
$ 539.88 |
||||||
|
Overtime |
$ 0 |
$ 0 |
|||||||||
|
Credit/Store card/s |
|||||||||||
|
Self-employed applicants |
NAB VISA |
$ 221.00 |
$ 221.00 |
||||||||
|
Income |
Previous fin. year Net profit |
After tax profit |
Previous fin. Year Net profit |
||||||||
|
App 1 |
/ |
$ |
$ |
Total loan repayments (B) |
$ 730.88 |
$ 2,853.80 |
|||||
|
App 2 (if joint loan) |
/ |
$ |
$ |
Rent Expenses (C) |
$ 2,058.33 |
$ 0.00 |
|||||
|
Total net income/mth |
(A) |
$ 13,811 |
MONTHLY LIVING EXPENSES |
||||||||
|
Basic Housing & Property |
$ |
$ |
|||||||||
|
Utilities |
$ 500 |
$ 500 |
|||||||||
|
Communications & Media |
$ 300 |
$ 300 |
|||||||||
|
Food & Groceries |
$ 1,500 |
$ 1,500 |
|||||||||
|
Recreation & Entertainment |
$ 500 |
$ 500 |
|||||||||
|
Clothing & Personal Care |
$ 300 |
$ 300 |
|||||||||
|
Medical & Health |
$ 100 |
$ 100 |
|||||||||
|
Transport |
$ 450 |
$ 450 |
|||||||||
|
Education & Childcare |
$ 310 |
$ 310 |
|||||||||
|
Insurance |
$ 500 |
$ 500 |
|||||||||
|
Other |
$ |
$ |
|||||||||
|
Total monthly living expenses (D) |
$ 6,518.33 |
$ 4,460.00 |
|||||||||
|
Funds (A – B – C – D) = $ |
$ 7,292.67 |
$ 6,497.20 |
|||||||||
Home and contents insurance
10a. Select the appropriate response based on the case study scenario.
Would you like an obligation free quote for home and contents insurance? * ☐ Yes ☐ No ☐ N/A
Personal insurance
10b. Select the appropriate responses based on the case study scenario.
Would you like an obligation free quote from a Financial Planner for personal insurance to pay your loan repayments in the event that you become disabled, unemployed or pass away? *
Applicant 1 ☐ Yes ☐ No ☐ Ask me again in 6 months
Applicant 2 ☐ Yes ☐ No ☐ Ask me again in 6 months
* Specific events covered and the conditions and exclusions applicable are set out in the Product Disclosure Statement (PDS) of the personal protection products offered. The relevant PDS is available.
Specialist Advice
10c. Select the appropriate responses based on the case study scenario.
Would you be interested in speaking to a specialist or would you like information about any other products or services?
☐ Specialist Advice Applicant 1 ☐ Yes ☐ No Applicant 2 ☐ Yes ☐ No
☐ Other: Applicant 1 ☐ Yes ☐ No Applicant 2 ☐ Yes ☐ No
Account Opening
10d. Select the appropriate responses based on the case study scenario.
Would you be interested in opening a 100% offset account?
Applicant 1 ☐ Yes ☐ No Applicant 2 ☐ Yes ☐ No
Select the type of account: ☐ 100% offset account, with fees ☐ 100% offset account, with no fees
Sharing and handling your personal information
10e. Select the appropriate responses based on the case study scenario.
If you go ahead with this application, we can either correct and/or give some of your personal information to:
Select the one correct option where your personal information could be both corrected and/or provided to a third party.
☐ Credit reporting bodies
☐ Land titles office
☐ Local council
☐ Australian Taxation Office
☐ Your employer
Marketing Information
11. Select the correct response based on the case study scenario.
If you tick the box you consent to receiving marketing offers on new products and services available to you or other businesses with whom we have a relationship. Your consent to our providing this information will be implied unless you notify us that you do not wish to receive this information.
Do not mark if the client wants to receive marketing material.
☐ I/we do not wish to receive marketing information.
Acknowledgment and consent
By signing below, I acknowledge and agree as follows:
THE BANK may obtain personal information about me from a credit reporting body
THE BANK may exchange personal information about me with other credit providers
The Bank may exchange personal information about me with joint package holders/joint borrowers/joint applicants
THE BANK may give personal information about me to others to check information
THE BANK may give information about me to my representatives
THE BANK may give information about me to THE BANK’s service providers
THE BANK may give personal information about me to THE BANK’s related companies
THE BANK may provide information about me to THE BANK’S related companies
General
By signing below, you agree with the following statements:
Contents of the Loan Application
I have read through this application and am sure that the information in it is complete and accurate before signing. THE BANK will rely on this information to assess this application for a loan or loan increase. If I do not understand anything in this document, I will ask The Bank before signing.
Insolvency, bankruptcy
Other than disclosed above, I have never been insolvent or committed any act of bankruptcy or entered into any composition or arrangement for the benefit of creditors.
Application for a Credit Card account
THE BANK may collect and use the information in my application and do any of the things set out in this section of the application form, to assess any credit card application (including any additional cards) made by me or any other person named in this application form.
Declaration of Tax Residency
I undertake to advise THE BANK within 30 days of any change in circumstances that affects my tax residency status and to provide THE BANK with an updated self-certification within 30 days of such change in circumstances.
Signature of Applicant 1 Signature of Applicant 2
Alan J Henderson Cheryl Henderson
Date: 22/06/XX Date 22/06/XX
Authority to Disclose Information to THE BANK
To be completed by all applicants authorising THE BANK to contact your employer and/or Rental Provider for confirmation details specified in the form.
To whom it may concern
I/We
Alan Jacob Henderson and Cheryl Ann Henderson (insert customer name/s)
hereby give consent for The Bank to contact representative/s of the parties named below, who are referred to in my/our application
12. Based on the case study scenario:
a. Provide the name and contact details of person/s to authorise disclosure of personal details.
b. Choose the correct reason for disclosure for each applicant.
c. Provide name and address of landlord/agent
(a) Applicant 1 |
(a) Applicant 2 |
|
Click and type Employer name and contact details |
Click and type Employer name and contact details |
(b) Applicant 1 – Select one correct option |
(b) Applicant 2 – Select one correct option |
|
☐ to confirm my/our employment details (including salary amount, length of employment etc.) |
☐ to confirm my/our employment details (including salary amount, length of employment etc.) |
|
☐ to confirm details of my/our income and financial position |
☐ to confirm details of my/our income and financial position |
(C) Name and address of landlord/agent |
|
|
Click and type name and address |
|
|
Name and address of Accountant – if self employed |
Name and address of Accountant – if self employed |
|
N/A |
N/A |
And I/we consent to them providing the information requested to The Bank providing them with a copy of this authority.
Alan Jacob Henderson and Cheryl Ann Henderson (insert name/s)
Signature and Signature
Alan J Henderson Cheryl Henderson
Date 22/06/XX Date 22/06/XX
13. Write clear notes to the lender about the clients to support their application.
Lender Notes |
|
|
Loan amount |
Click and type loan amount |
|
Term of the loan |
Click and type loan term |
|
Product name (refer to the SOCA to use the correct product name) |
Click and type product name |
|
Provide two reasons why the loan can be serviced (refer to the servicing estimator in File notes) |
Click and type reason 1 |
|
Click and type reason 2 |
|
|
LVR percentage – % |
Click and type LRV percentage |
|
Provide a minimum of 2 additional features that support loan product recommendation |
Click and type additional feature 1 |
|
Click and type additional feature 2 |
|
14. Have the clients signed and dated the following sections?
|
Privacy ☐ Yes ☐ No |
Authority to Disclose ☐ Yes ☐ No |
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