Process Applications for Credit Agreements Offered in a Retail Environment

Overview

Framework:
RQF
Level:
Level 2
Unit No:
Y/505/2320
Credits:
5
Guided learning hours:
40 hours

Assessment Guidance

Although workplace assessment is not strictly a requirement of this unit, it is strongly advised that, in combination with some classroom-based learning, learners should have access to a real work environment in order to develop and demonstrate the relevant skills.

Unit Learning Outcomes

1

Understand the legal aspects of offering credit agreements.

Assessment Criteria

  • 1.1
    Explain the legal requirements for giving information to customers when offering credit agreements.
2

Understand legal aspects of processing credit agreement applications.

Assessment Criteria

  • 2.1
    Explain the legal requirements relating to credit checks and authorisation.
3

Be able to process applications for credit agreements offered in a retail environment.

Assessment Criteria

  • 3.1
    Explain clearly to the customer the features and conditions of the available credit agreements.
  • 3.2
    Allow sufficient time and opportunities for the customer to ask questions.
  • 3.3
    Ask the customer questions to confirm their credit agreement requirements.
  • 3.4
    Complete required documentation accurately.
  • 3.5
    Carry out credit checks and authorisation procedures required by law and organisational policy.
  • 3.6
    Explain the organisational procedures to follow when dealing with difficulties in processing credit agreement applications.