Client Needs Identify and explain the scope of three external dispute resolution schemes approved by ASIC for the financial services sector. What are the main differences, from a purchaser’s point of view, of acquiring a property through private sale and through an auction? Explain how the mortgage franchisee system operates in Australia. Explain why age is an important determinant in approving home loans. Explain how a reverse mortgage works, including assessing some of the risks. Finance and mortgage brokers are required to take reasonable steps to verify information provided by a client. What does reasonable mean in this context? What sort of records must a finance/mortgage broker keep with regard to personal advice provided to clients? How must personal information be stored to comply with the requirements of the Privacy Act?

Client Needs
Identify and explain the scope of three external dispute resolution schemes approved by ASIC for the
financial services sector.

What are the main differences, from a purchaser’s point of view, of acquiring a property through
private sale and through an auction?

Explain how the mortgage franchisee system operates in Australia.

Explain why age is an important determinant in approving home loans.
Explain how a reverse mortgage works, including assessing some of the risks.
Finance and mortgage brokers are required to take reasonable steps to verify information provided
by a client. What does reasonable mean in this context?

What sort of records must a finance/mortgage broker keep with regard to personal advice provided
to clients?

How must personal information be stored to comply with the requirements of the Privacy Act?

Reference no: EM132069492

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