Case study 1: Charlie Brown Mortgages Limited You are a financial adviser employed by Charlie Brown Mortgages Limited (CBML) to provide advice on home loans. Key information about you: Youhave worked for CBML for five years

Case Study 1: Task 1

12 15 marks

10 11.5 marks

7.5 9.5 marks

6 7 marks

1 5.5 marks

Write an email to Manaia, in which you:

outline why CDD is required

explain what information you require from Manaia.

For each piece of information required, give two examples of documentation he should bring to the meeting that will be acceptable for you to verify that information.

Clearly explains why CDD

Explains why CDD is

Explains why CDD is

Limited explanation of

Attempts to explain why

is required. Accurately

required. Accurately

required, including

why CDD is required. May

CDD is required but does

identifies information

identifies information

information required in

not accurately identify all

not accurately identify

required in this situation

required in this situation

this situation and two

information required in

information and

and two acceptable

and two acceptable

acceptable examples of

this situation or two

documentation required

examples of

examples of

documentation required

acceptable forms of

in this situation

documentation required

for each piece of information

Language used is accurate and fully appropriate for a client (non-specialist reader)

documentation required

for each piece of information but may omit minor detail OR answer could be improved by being more concise

Language used is mostly accurate and appropriate for a client (e.g., may use some jargon or be informal/formal in places)

for each piece of

information

Further detail would improve answer OR answer includes a small amount of inaccurate / irrelevant detail

Language used may not be fully appropriate for a client (e.g., may use too

much jargon or be too

documentation required

May not be in email format and language may be unclear or inappropriate

Answer may include some material copy/pasted from websites or other materials

May be very brief, and/ or not in email format. Language may be very unclear or inappropriate

Answer may consist of material copy/pasted from websites or other materials

informal/formal) or may

be unclear in places

10 12.5 marks

8.5 9.5 marks

6.5 8 marks

5 6 marks

1 4.5 marks

At the start of the meeting, you give Manaia a copy of your disclosure statement.

Identify the five pieces of information you must disclose at the first meeting to meet your obligations under the Financial Markets Conduct Regulations 2014. Use these as five headings.

Under each heading, write the statement that will

Accurately identifies all

Accurately identifies all

Accurately identifies four

Accurately identifies three pieces of information required in the disclosure statement AND/OR provides statements for headings that are not fully appropriate to the context or use informal language, demonstrating insufficient understanding of the

Accurately identifies

information required in

information required in

pieces of information

fewer than four pieces of

the disclosure statement

the disclosure statement

required in the disclosure

information required in

Provides accurate,

Provides accurate

statement

the disclosure statement

contextually appropriate

statements for each,

Provides statements for

Provides accurate

statements for each,

demonstrating a good

each although they may

statements for fewer

demonstrating a strong

understanding of the

not be fully appropriate

than three headings OR

understanding of the

FMCR requirements in

to the context or may use

statements are not

FMCR requirements in

relation to the case study

informal language in

appropriate to the

relation to the case study

places

context or use informal

language, demonstrating

limited understanding of

the FMCR requirements

appear in your disclosure statement.

FMCR requirements in relation to the case study

in relation to the case study

10 12.5 marks

8.5 9.5 marks

6.5 8 marks

5 6 marks

1 4.5 marks

Identify the specific Information

Accurately identifies all

Accurately identifies

Accurately identifies

Accurately identifies a

Attempts to identify

Privacy Principles (IPPs) that are

relevant IPPs. Provides

relevant IPPs for this

relevant IPPs for this

limited number of the

relevant IPPs but

relevant to this meeting. For each relevant IPP, give an example of how you will ensure compliance with it.

accurate, specific

examples of compliance and their practical

application in this context

context. Provides clear,

relevant examples of compliance for each

context. Provides

satisfactory examples although they may lack

detail and specificity for

relevant IPPs. Provides

vague or incomplete examples of compliance.

May not relate to context

essential information is

omitted.

Only very basic examples

of compliance for one or

for each

this context

two IPPs are correct or

answer does not relate to

context

8 10 marks

6.5 7.5 marks

5 6 marks

4 4.5 marks

1 3.5 marks

i. Answer Manaias question by giving

Gives accurate, relevant

Gives clear and relevant

Gives adequate example

Gives vague or

Attempts to give

him an example of how you will

example of complying

example of complying

of complying all three of

incomplete example of

examples of complying

comply with each of these duties in

with all three of the listed

with all three of the listed

the listed duties

complying with each duty

with duty but these are

your dealings with him:

431I

431K

431L

ii. Identify when you will need to comply with duty 431J in your dealings with Manaia. Give an example of how you will ensure compliance with it.

duties

Examples clearly align with each specific duty and include actionable steps the adviser will take

Accurately identifies when they will need to comply with duty 431J in their dealings with client and provides a comprehensive example

of how they will ensure

duties

Examples align with each specific duty, but may omit minor detail

Identifies when they will need to comply with duty 431J in their dealings with client and provides a practical example of how they will ensure compliance, showing

their knowledge in the

Examples may be somewhat generic and not as tailored to each specific duty but convey the adviser’s intent to comply with each duty.

Identifies when they will need to comply with duty 431J in their dealings with client and provides an example of how they will

ensure compliance,

or one answer is incorrect

Examples may not clearly align with each specific duty or be insufficient in demonstrating compliance.

Does not accurately identify when they will need to comply with duty 431J in their dealings with client and provides an

unclear or incomplete

mostly irrelevant or

incorrect

Does not correctly identify or fails to address when they will need to comply with duty 431J in their dealings with client and does not provide an example of how they will ensure compliance or provides an irrelevant or incorrect example

compliance,

matter

although the example

example of how they will

demonstrating their

may lack detail or clarity

ensure compliance

expertise in the matter

Case Study 2: Task 2

8 10 marks

6.5 7.5 marks

5 6 marks

4 4.5 marks

1 3.5 marks

a. Write an initial response to Katie providing an overview of AALs internal complaints process and information about your dispute resolution process.

Comprehensive and well- structured response, providing a concise overview of the key elements of the internal complaints process and the steps involved

Response includes a clear and thorough explanation of dispute resolution process

Well-organized response, providing a clear overview of internal complaints process and the main steps involved

The response also includes a relevant explanation of dispute resolution process

Adequate response, providing a basic overview of internal complaints process, although some details may be lacking

The response includes a basic explanation of dispute resolution

Limited response, providing an inadequate overview of AAL’s internal complaints process, with missing or unclear information

The explanation of dispute resolution process is incomplete or vague

Response to provide an understandable overview of internal complaints process or does not address it at all

The response does not include any explanation of dispute resolution process or offers irrelevant or incorrect information

12 15 marks

10 11.5 marks

7.5 9.5 marks

6 7 marks

1 5.5 marks

Draft a reply to Katie (for checking and sign-off by the compliance manager), in which, for both the Consumer Guarantees Act and the Human Rights Act, you:

state whether the Act has been breached

give reasons for your decision, including reference to the relevant sections of the Act

If the Act has been breached, recommend one way to remedy the situation, as directed by the Act.

Comprehensive and well-

Well-organized response,

Adequate response

States whether each Act has been breached and offers basic justifications for decision

Recommends a possible remedy if an Act has been breached

Limited response,

Attempts to provide an

structured response,

demonstrating a strong

providing an inadequate

overview of the Acts but

demonstrating

understanding both Acts

overview of both Acts

this is not relevant or

understanding of both

Acts

Clearly states whether each Act has been

Statement of whether each Act has been

clear.

Does not correctly state

Clearly states whether

breached in this context

breached may be unclear,

whether each Act has

each Act has been

and provides relevant

and the any justifications

been breached or offers

breached in this context

justifications, including

lack detail or relevance,

irrelevant or incorrect

and provides well-

explanations of the

with minimal or incorrect

justifications, without any

reasoned justifications,

appropriate sections of

references to the

references to the Acts

including explanations of

the relevant sections of the Acts

the Acts

Recommends a suitable remedy if an Act has been

Recommended remedy is vague or inappropriate if

an Act has been breached

Does not recommend a remedy or provides an

irrelevant or incorrect

Recommends an effective

breached

recommendation if an Act

and appropriate remedy

has been breached

if an Act has been

breached

Case Study 2: Task 2

20 25 marks

16.5 19.5 marks

12.5 16 marks

10 12 marks

1 9.5 marks

Write an email response in which you:

Response is

Response is well-

Response provides an

Response is limited in

Attempts to provide an

a. Summarise, in your own words,

comprehensive and well-

organized and

adequate overview of

providing a coherent

understandable overview

AALs responsibilities under each

structured,

demonstrating an

demonstrates a strong

understanding of

responsibilities under ss

2023 of the Financial

overview of

responsibilities under ss

of responsibilities under

ss 2023 of the Financial

excellent understanding

responsibilities under ss

2023 of the Financial

Markets Conduct Act

of sections 2023 of the Financial Markets Conduct Act (Part 2)

b. For each of sections 2023, give one example of a statement that the team leader should avoid making in her advertisement and explain why.

c. Identify and explain the potential penalties for AAL if it breaches any of sections 2023 of the Financial Markets Conduct Act (Part 2).

of responsibilities under ss 2023 of the Financial Markets Conduct Act (Part 2).

Provides clear, relevant examples of statements to avoid in the advertisement, explaining the reasoning behind each caution.

Expertly identifies and explains potential penalties for breaching ss 2023, demonstrating a strong understanding of the repercussions.

Language used is accurate and fully appropriate for the task.

2023 of the Financial Markets Conduct Act (Part 2).

Offers clear examples of statements to avoid in the advertisement, along with appropriate explanations.

Outlines potential repercussions for breaching ss 2023.

Language used is mostly accurate and appropriate for the task (e.g., may use some jargon or be informal/formal in places)

Markets Conduct Act (Part 2).

Summarises these responsibilities in own words, although the explanations might lack detail or clarity .

Includes basic examples of statements to avoid in the advertisement and offers general explanations for each.

Briefly mentions potential penalties for breaching ss 2023.

Language used may not be fully for the task (e.g., may use too much jargon or be too informal/formal) or may be unclear in places

Markets Conduct Act (Part 2).

Any examples of statements to avoid in the advertisement lack detail or relevance.

Explanation of potential repercussions for breaching ss 2023 is also insufficient or vague.

May not be in email format and language may be unclear or inappropriate.

(Part 2) or does not address them at all.

Does not include any examples of statements to avoid in the advertisement or provides irrelevant or incorrect examples.

May be very brief, and/ or not in email format. Language may be very unclear or inappropriate.

Does not accurately explain any potential repercussions for breaching ss 2023.