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FNSFMB411 - Prepare loan applications on behalf of clients (Release 1) Written Questions Written Questions Page | 1 of 15 © Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022
FNSFMB411 - Prepare loan applications on behalf of clients (Release 1) Written Questions What you need to do: Answer the questions below by writing in the space provided. You are required to answer all questions correctly. If correct, you will see 'Satisfactory' or if incorrect you will see 'Not Satisfactory' in your grades section of your learner portal next to the assessment name. The assessor will provide feedback and a Record of Results in the assessment task once graded. You will be required to resubmit your work for any 'Not Satisfactory' assessment tasks. What you will need: Use the learner material provided in your online student portal as well as research materials such as books, internet, magazines, workplace documentation etc. to assist you in gaining the knowledge required to answer the questions. Remember that the assessment task is self-paced and open book. You are able to use whichever resources you have to answer the questions. What you need to submit: Your completed Written Questions How to Submit your Assessment: Upload your completed document into the "FNSFMB411 - Written Questions" Online Assessment in your learner portal. You can drag and drop the file into the window or use the add file icon in the top left of the submission window and select the file you wish to upload by using the browse/choose file option. Click on the finish attempt to submit it for grading. Page | 2 of 15 © Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022
FNSFMB411 - Prepare loan applications on behalf of clients (Release 1) Written Questions Question 1 How must personal information be secured to comply with the requirements of the Commonwealth Privacy Act 1988? (APP) Click or tap here to enter text. As stated within the learning resource - securing personal information must include collection, use, storage and disclosure of personal information, and access to and correction of that information. As mortgage brokers, they hold a responsibility to maintain and ensure that information provided to them by clients will be used accordingly to their application request and stored securely within files. A mortgage broker holds a responsibility to advise the client with a privacy disclosure agreement post application request but pre lender/product selection. The privacy disclosure agreement binds the mortgage broker/credit provider with the liability of holding the documents privately and securely. Page | 3 of 15 © Real Estate Academy Australia RTO 32436 Version 1.1 - January 2022
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