You must write only one policy number in the For Office Use only section, even if the client has taken more than one policy.

When completing Section 5: You have to confirm that you have given the client a copy of the Financial needs analysis and Record of advice.

When completing Section 3: Financial Position and Income, you use the clients gross salary when calculating the 15% allowable amount for assurance?

The ... and ... is a very important document and may never be partially completed or left blank.

The client has more cover than required.

The client will have to carefully consider the recommendation and assess whether the product meets their needs.

It explains and records the advice and the reasons for the advice as well as to how the advice will be used and applied.

People purchase insurance products to meet different needs, whether they are to meet long or short term ....

The client has lower cover or savings than required.

As part of the needs analysis process, a representative will gather as much information on the client’s overall financial situation, financial product experience and goals as possible.

Without a proper financial needs analysis a financial adviser cannot determine the client’s financial needs nor make appropriate financial recommendations.

A financial needs analysis is used to determine a client’s financial situation and future goals.

Reasons for the recommended product comments have to include why that specific product was recommended to the client.