Are You Looking Help For FNS40815 Certificate IV In Finance And Mortgage Broking Exercixe 4?

Question 1

Five important points that used to deliver on the customer needs, priorities and expectations are listed below:

?       More personalization: There are many business and personal interactions that are made for the customers to interact with some personalized experiences. The basic expectation from a company is to put the products and information in the right place (Lemon and Verhoef, 2016).

?       Customer satisfaction: The section of competition will usually compared with different crucial offerings that are made in the market. It is an improving service where the focus is made on the demand of the customers.

?       Constant contact: Huge numbers of customers are not interested in advertising and promotions. The expectation of the few customers are the follow up efforts that are needed to be filled with the customer experience.

?       Listen closely and respond quickly: There are most of the customers that usually don’t find any kind of interest in the surveys taken and the feedback obtained from the customers are stored in a data form.

?       Provide front-liners more control: The front-liner services are more experienced to handle the customers. The authority needs to handle the customers and meets the all requirements of the customers. Most of the customers need to solve their issues and fix their problems.

Question 2

Behavioural competencies required to deliver outstanding customer experience

The customer service is mainly focussed on the process of examining the customer interaction process which is required for the customers (Kandampully et al. 2018). Providing excellent customer service also indicates the people with their needs and expectations which is to be dealt with different capabilities. The increasing number of competition is also determined with vital options to develop a competitive edge for a specific pouint of difference. The Mortgage brokers can considered with same lenders and products. It is very necessary to be constantly improve all the services provided. The internal and external customers are also seeking up to provide high quality products.   (Jain et al. 2017).

Question 3

Deliver and monitor services to customers

The organization present in the market used the “competitive environment” for collecting all types of data. The customer service system should not be different from any kind of measurement system. The process of reviewing and assessing the customer services with making further improvements. It will also help to map out the customer service indicators (KPIs) and used to enhance the service or product quality. The factor of customer loyalty is also increased with the remaining amount of cases present with the customers. (Stein and Ramaseshan, 2016). Many of the organization also manages to monitor the functions and also create some of the additional insights made from different channels of emails and “social networking sites”.

Question 4

There are different legal means that are mostly used to protect the business interest. It will also help to protect the rule of law that will provide a framework for operating and acting in a specific way. There are few types of predictable rules that are made for the rule of law to maintain stability and consistency for the business. If the business fails to comply with any of the “federal and state guidelines” also may create some of the specific consequences of the business (Bolton et al. 2018). The membership applications for the MFAA must be undertaken by the MFAA website. It has certified copy of “National Criminal Record” which has been approved by external dispute resolution.


Question 5

?       Identification of customer needs and expectations: The need of the customers is related with the quality of services provided with promises or guarantees. The effective relationship build is required with good interpersonal skills. There are some expectations made for the customer service provision.  

?       Assess the basic “urgency of request”: The needs of the customers are also to be focussed on with importance and give priorities to the service delivery. As the expectation of the customer needs is high it needs to determine all the needs.

?       Determination of priorities provided for service delivery: It must consider all types of goals and objectives that are needed to be fulfilled with the creation of a “to-do” list. The establishment of monitoring is also required where it is needed and helps to manage monitoring systems. 

?       Inform the Customer with the best possible choices: It is the duty of the management of the company to inform about the consequences of the best choices that will be provided to them (Melero et al. 2016). The right option will be selected by the customers which is considered to be a sensible decision.

?       Assist in the selection of specific appropriate options: The selection of correct options is very important for any kind of job analysis. It also involved the hiring process for identifying different levels of competencies which will be required to perform well in this specific option.

?       Unable to satisfy the needs of the customers: The specific “complaints and problems” are needed to be listened carefully and trying to solve it in the right manner (McColl-Kennedy et al. 2019). Therefore the process of fixing the body language will also help to communicate better with the customers.

?       Provide correct assistance should be provided for the need: The broker present in the market must quickly assess the product which the client may require it. The client is also interested on fees, duties and grants. Mortgage brokers are usually measured on the basic quality of their submissions.

?       Provide prompt service to customers: The listening process to the customer’s complaint is very important as it is considered to be very easier. The response made to the customers was also made with some definite offers which provide directions to the customers.

?       Maintaining and establishing rapport with customers: To maintain the rapport with the customers must match with their styles and will be able to prefer further communication for getting it in the right step. It also helps to build the trust rapport for maintaining the trust level with the customers.

?       Specific actions to be taken if there is any complaint: The first step will be listening to the complaint and if it is found valid then it is recorded. It is also discussed with the management to fix the issues and try to keep all the promises (Chheda et al. 2017)

?       Provide assistance to specific needs: The basic needs of the customer are needed expert advice to gain the requirement of the customers. It also helps to support them in finding their right choices.

?       Apparent cross selling opportunities: The “cross-selling” opportunities generally take place at the end of the sales cycle, where every type of purchase is made by the customers. It also integrates the upselling process which is converted into the entire customer experience.

?       Seek customer Feedback: The feedback is very useful for bringing any changes that are demanded by the customers. It will help to know the demand of the customers. It is mainly done through “dedicated customer feedback forms”.

?       Reviewing customer satisfaction level: The basic process of reviewing the customer satisfaction level is a good indicator of success and various types of surveys are taken to review the basic view of the customers. It can also be measured through the C.S.A.T. scores where 80% is considered to be a good score.

?       The use of feedback to improve the “customer service”: Customer information is also considered to be used in customer services by improving their products or services. It also helps to improve the process of reaching out to the customers and break all the barriers.

Question 6

The improvement in the service delivery present in a highly competitive market is very difficult. It also has the opportunity to present the all system details that helps to foster any kind of “strong relationships”. Therefore the amount of communication required to clear the various abilities of quality that needed to be answered. It is considered to be very important for the culture of the organization and its success (McLean and Wilson, 2016). Here excellent customer service is the factor where everyone is seeking for it. Therefore the competitors will also have the opportunity of providing a better service in order to attract more customers.

Question 7

Three types of objections deals before mortgage broker attempts are

?       Sincere Concern: It is a basic concern which is believed to be valid. There are various concerns present in this competitive market.

?       Insincere concern: This type of concern is considered to be not valid as it may be apparent in different situations. It helps to demonstrate the concern where it is developed for more rapport.

?       Hidden concern: It is the prospect that is kind of obvious where it needs to be refined with the “value proposition”. It is also collected from different other sources for redirecting the concern with the “discount mortgage brokers”.

Question 8

There are basic four main types of mortgage broker to be dealt with are discussed below:

Dominant: This type of personality is usually described to dominate the person either mentally or physically. There are few facts where the decision is made to make up the mind very quickly to make it easy for sale (Conlon, 2018).

Influencing: They are usually considered to be talkers where oftenly the brokers are drawn away from the indefinite subject. It also helps to track and be focussed on and also ensures to be focussed on. 

Controlling: This type does not require to control any other people for their own situation. It usually means to provide some of the misunderstanding that has been created for controlling the deal with the entire document.

Supportive: Here every person is very supportive with the social workers and helps to volunteer by everyone. It does not hurt anyone’s feelings and is able to control the whole sale. [Referred to Appendix 1]

Question 9

Establishment of networking methods

Listing existing network: This step complies all the list of people who all are using the existing network. It is referred to the names, email and letters for contacting the person

Develop a “hit list”: The process of compiling a list of people which would be a part of the network system. It will be performed effectively in various “Mortgage industry”.

Identifying networking opportunities: In this process there should be a target group which has the full potential for contacting the “hit list”. It will make direct contact to the “hit list”.

Attend networking functions and trial meetings: There are few groups that are allowed to attend few of the meetings or functions for the basic benefit of the groups. It is also considered to be an ongoing relationship established to discuss a “hit list”. ( 2020)

Commit to regular attendance: There are various types of relationships that exist with relations of members that are associated with “networking groups”. It also has a negative effect for the members of the group and also has a lack of commitment. 

Question 10

The four sectors of financial services industry are

?       Banks

?       Investment funds

?       Insurance companies

?       Real estate firms

Question 11

Strategies made for making the future business more environmentally sustainable are

?       Strategy of Thinking outside the box

?       Target for zero waste to landfill

?       Become Voluntarily certified

?       Availability of work from home facility

?       Smart with paper works

Question 12

List of ten documents that are required for an A.C.L. application are listed below

?       Compliance Plan

?       Risk Management system

?       Financial Resources Policy

?       Human Resources Policy

?        Information Technology Resources Policy

?       Conflicts Management Arrangement and Systems

?       Outsourcing Process

?       Supervision and Training Arrangements

?       Complaints Resolution

?       Compensation Arrangements

Question 13

Loan product and its key features are

Westpac uses Cash Credit: It is considered to be a short term source of financing a specific company and also enables to withdraw money from “bank accounts”.

NBA uses Bills discounting: This type of loan Bank takes the specific bill that is drawn by the borrower.

ANZ Bank uses Packing Credit: It is considered to be a “pre shipment finance” where it procures raw materials by the bank. 

CBA Bank uses Term Loans: It is part of a mandatory loan which is set over a fixed period.

Question 14


Interest Rate



Qualifying rate



Loan Period

25 years


Gross annum



Mr X




Mrs X




Personal loan



Borrowing Capacity





Total Borrowing Capacity



Table 1: Borrowing Capacity

(Source: Self-created)

Question 15

Communication: The communication is very important to communicate with each other and their ideas. It is a very important skill that is very essential for delivering and understanding all types of information very effectively

Teamwork: Teamwork is needed to do the work together for completing the task and meet the objectives. It helps improve the decision making process and enhance the effectiveness of problem solving skills.

Problem Solving: Important to solve the queries of every employee and enhance the skill by solving it faster

Initiative and Enterprise: It helps the employees to find new opportunities and able to put the idea into the practise

Planning and Organizing: The process of planning the task before starting it is very important. The organizing of the task helps to complete the work faster.

Self-Management: This type of skills also help the employee to feel comfortable in the workplace and become more productive.

Learning: This skill helps to learn new ideas and problem solving. It will help to manage all the issues very quickly.

Technology: The basic technical skills are normally used to perform all types of information that are related to specific tasks.

Reference list


Lemon, K.N. and Verhoef, P.C., 2016. Understanding customer experience throughout the customer journey. Journal of marketing80(6), pp.69-96.

Kandampully, J., Zhang, T.C. and Jaakkola, E., 2018. Customer experience management in hospitality. International Journal of Contemporary Hospitality Management.

Jain, R., Aagja, J. and Bagdare, S., 2017. Customer experience–a review and research agenda. Journal of Service Theory and Practice.

Stein, A. and Ramaseshan, B., 2016. Towards the identification of customer experience touch point elements. Journal of Retailing and Consumer Services30, pp.8-19.

Bolton, R.N., McColl-Kennedy, J.R., Cheung, L., Gallan, A., Orsingher, C., Witell, L. and Zaki, M., 2018. Customer experience challenges: bringing together digital, physical and social realms. Journal of Service Management.

Melero, I., Sese, F.J. and Verhoef, P.C., 2016. Recasting the customer experience in today’s omni-channel environment. Universia Business Review, (50), pp.18-37.

McColl-Kennedy, J.R., Zaki, M., Lemon, K.N., Urmetzer, F. and Neely, A., 2019. Gaining customer experience insights that matter. Journal of Service Research22(1), pp.8-26.

Chheda, S., Duncan, E. and Roggenhofer, S., 2017. Putting customer experience at the heart of next-generation operating models. Digital McKinsey, March.

Witell, L., Kowalkowski, C., Perks, H., Raddats, C., Schwabe, M., Benedettini, O. and Burton, J., 2019. Characterizing customer experience management in business markets. Journal of Business Research.

McLean, G. and Wilson, A., 2016. Evolving the online customer experience… is there a role for online customer support?. Computers in Human Behavior60, pp.602-610.

Conlon, K., 2018. An examination of the factors which influence a positive customer experience within the Irish hospitality industry (Doctoral dissertation, Dublin, National College of Ireland).

Online articles (2020), customer experience, Available at: [Accessed on: 01/01/2020]


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