Introduction to Consumer Credit
Introduction to Consumer Credit
Introduction to Consumer Credit is a course for professionals working for an Australian Credit Licensee who provide product information in relation to their credit licensee’s products only or who are new to working in the consumer credit sector.
The course covers a broad range of sector-relevant issues, including an overview of Australia’s consumer credit market; regulation, licensing and responsible lending; general principles for assessing loan serviceability; features, benefits and limitations of typically offered personal loan and mortgage products; the influence of economic and market factors; and customer service best practice.
Who is this Course for?
- Representatives who provide credit assistance only in relation to their licensee’s own credit products, including credit cards, personal loans, buy now pay later solutions (LCCCs), and home loans
- Representatives needing to meet initial training requirements appropriate to their role and industry sector (Table 1 in RG 206.32)
- Onboarding solution for representatives new to the consumer credit sector.
Aligned with initial and ongoing representative training requirements under RG 206 Credit licensing: Competence and training, the course is designed to cover contents prescribed by ASIC in Table 2 of Section C of RG 206, i.e.
- Dealing appropriately with consumers
- Types of loan products and their characteristics
- Economic and market context.
Program Content
Core Topics
- Topic 1: Overview of credit markets and participants
- Topic 2: Consumer credit regulation and licensing
- Topic 3: The NCCP Act and responsible lending
- Topic 4: Credit scoring, benchmarks, and serviceability tools
- Topic 5: Influence of economic and market factors on credit
- Topic 6: Creating a best practice credit process
Elective Topics (Choose one)
- Elective A: Offering secured and unsecured personal loans
- Elective B: Funding property settlement
- Elective C: Providing and advising on consumer leases
Program Content
Learning Outcomes
What you will learn
Who is this course for?
Units of Competency
Pre-requisite
Recognition of Prior Learning
Certification
You will be awarded a Certificate of Attainment, stating that Introduction to Consumer Credit meets initial training requirements for Representatives providing credit assistance in relation to their licensee’s own credit products under RG 206 (RG 206.32, page 11).
