CHCFIN008 — Apply professional standards in financial counselling

Generate a complete, audit-ready assessment tool for this unit in minutes: candidate assessment, assessor guide with model answers, and a coverage matrix mapped to every component below. Reviewed and approved by your qualified person, exported under your branding.

Generate CHCFIN008 free See a real sample

Every new account includes a free credit — no card, no subscription.

What an assessment for CHCFIN008 must cover

40 assessable components: 4 elements (21 performance criteria), 2 performance evidence and 11 knowledge evidence requirements, plus 6 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.

Elements & performance criteria

1 Establish context for financial counselling work.

1.1Apply understanding of national professional supervision requirements.
1.2Apply understanding of professional development activities required to meet State peak body and organisational requirements.
1.3Maintain knowledge of current industry information and best practice in financial counselling and use in professional practice.
1.4Maintain currency and completeness of available resources.
1.5Interpret and implement the Australian Financial Counselling Code of Ethical Practice and the Agency Practice Standards.
1.6Identify the role of financial counselling peak bodies.

2 Review client progress.

2.1Undertake regular reviews of all aspects of the client case plan including contact with and response from creditors.
2.2Undertake research into issues arising from case work as needed, including legal frameworks, industry policies and complex client needs.
2.3Write letters for representation and advocacy.
2.4Use financial counselling sector resources.

3 Maintain accurate client records.

3.1Review structure and function of a client case file and associated requirements.
3.2Ensure all written documentation produced is in line with financial counselling sector standards and practices.
3.3Create case notes for each client and creditor interaction, taking into account professional and legal requirements.
3.4Use record keeping processes to monitor creditor response times and other key dates, such as limitation periods.
3.5Maintain confidentiality of records in accordance with professional and legal requirements.
3.6Prepare and maintain statistical records.
3.7Maintain and document regular contact with the client to ensure the client remains informed about progress.
3.8Document potential structural or systemic issues based on client experiences.

4 Close client case file.

4.1Work with the client to devise an exit strategy.
4.2Terminate the financial counselling process in line with organisational procedures and professional role requirements.
4.3Secure client records for storage, archiving and destruction as per organisation and privacy requirements.

Performance evidence

review five different client case files presenting with multiple and complex needs to: - document the client journey through case notes - review and follow organisational checklists and check statistical records - document all interaction with stakeholders and the client - confirm action plan is complete - close the file
perform the activities outlined in the performance criteria of this unit during a period of 220 hours of work in a financial counselling agency that has met the requirements for the Australian Securities and Investments Commission (ASIC) exemptions from holding a financial services or credit licence or in an appropriate simulated environment. These 220 hours may be applied collectively across all units of competency that include the requirement for workplace hours for the purposes of assessment.

Knowledge evidence

national standards including: - national and state supervision policies - national and state guides to continuing professional development - National Standards for Membership and Accreditation - Australian financial counselling code of ethical practice - National Agency Practice Standards
key sources of information and resources including: - websites recommended by the financial counselling sector - state peak body resources - structure and role of peak bodies in the financial counselling sector
principles of writing case notes, including: - when to make a case note - what information should be included - professional standards and practices for case notes - case review
documentation associated with casework including: - client case notes - open file checklists - income and expenses statement/s - advocacy letters - action plans - close file checklists - file closure letters
National, State or Territory legislation, codes of practice and guidelines including but not limited to: - consumer protection laws, regulatory guidance and industry codes affecting consumers and small business - National Consumer Credit Protection Act 2009 (particularly Schedule 1, National Credit Code and the provisions relating to responsible lending, hardship requirements) - Competition and Consumer Act 2010 (particularly Schedule 2, The Australian Consumer Law) - State or Territory Fair trading acts - Social security law - Taxation law - Privacy Act (and credit reporting code) - Bankruptcy Act 1966 - ASIC regulatory guides, ASIC/ACCC debt collection guidelines - Banking Code of Practice, Customer Owned Banking Code of Practice, Telecommunications Consumer Protection Code, energy codes, Buy Now, Pay later (BNPL) Code - Open data and the consumer data right
general principles in the law in relation to confidentiality and privacy and any agency policies that may interact with these
use and purpose of electronic databases, including: - communicating with colleagues - facilitating smooth hand over between financial counsellors - as the basis for reporting to funders
rights and responsibilities of workers, employers and clients
indicators of the presence of systemic issues, including: - unfair outcomes permitted by existing systems - poor outcomes associated with one creditor or industry - poor outcomes for clients associated with new products
terminating the financial counselling process, including: - by agreement with the client - terminating the engagement before matter is concluded when: - client no longer engaging with the process - matter becomes too complicated or risky - a conflict of interest has arisen - the client is abusive of manipulative - the matter has become a legal matter and requires legal advice
content of a file closure letter or email, including: - the date the file was closed - notice that all original documents have been returned or there is none held - notice that the file may be destroyed after 7 years - details of any settlement and provide relevant documents to the client - any next steps or actions for the client to undertake including relevant referrals - time limits that may apply and where to get legal advice if applicable - feedback survey if applicable.

Foundation skills

Reading skills to:: source and interpret information from a range of complex documents.
Writing skills to:: produce written materials in the required format, style, structure according to the intended audience and purpose of correspondence.
Oral communication skills to:: participate in a variety of spoken exchanges with others using clear and direct language to convey, request and confirm understanding of information.
Numeracy skills to:: access required information from familiar and unfamiliar financial reports.
Problem-solving skills to:: identify and analyse discrepancies in information gathered.
Technology skills to:: use main features and functions of technology and software programs to complete work tasks.

Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.

See what you get before you start

Real, unedited Auditori output (RIIHAN201E shown), branded for a sample RTO:

Questions about assessing CHCFIN008

What does an assessment tool for CHCFIN008 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for CHCFIN008 needs to address all 40 unit components: 4 elements with 21 performance criteria, 2 performance evidence requirements, 11 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.

How does Auditori generate an assessment tool for CHCFIN008?

Auditori pulls the current release of CHCFIN008 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.

Is the first assessment tool really free?

Yes. Every new account includes one free credit — enough to generate the complete assessment tool for CHCFIN008 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing CHCFIN008 assessment instead of generating a new one?

Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of CHCFIN008, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.

Related units

Your CHCFIN008 assessment tool, in minutes.

First unit free. No card, no RTO registration, no subscription.

Generate CHCFIN008 free