HSC Financial Services (VET) cheat sheet

The HSC VET course is delivered as a Board Endorsed Course in Financial Services and is structured around industry competency units drawn from the FNS Financial Services Training Package.

Assessment in a VET course has two components: competency (achieved/not yet achieved) for each unit, and an HSC mark derived from the mandatory exam and school-based assessment.

Employability skills embedded in every unit are communication, teamwork, problem solving, initiative and enterprise, planning and organising, self-management, learning, and technology.

Work health and safety duties are governed by WHS legislation: a PCBU must ensure health and safety so far as reasonably practicable, and workers must take reasonable care for themselves and others.

Privacy obligations follow the Australian Privacy Principles, which regulate collection, use, disclosure, security and access/correction of personal and sensitive information.

Anti-money-laundering duties under the AML/CTF Act require reporting entities to conduct customer identification (KYC), monitor transactions and report suspicious matters to AUSTRAC.

The Australian Financial Services (AFS) licence regime under the Corporations Act requires licensees to act efficiently, honestly and fairly and to manage conflicts of interest.

Consumer credit is regulated by the National Consumer Credit Protection Act, which imposes responsible lending obligations, licensing and disclosure requirements.

A unit of competency comprises elements, performance criteria, performance evidence, knowledge evidence and assessment conditions; competence requires evidence across all components.

Assessment must satisfy the principles of validity, reliability, flexibility and fairness, and judgements must be based on sufficient, current and authentic evidence.

Common financial services units cover customer service, processing financial transactions, WHS, privacy, anti-money laundering, credit applications and working in the industry.

Recording financial transactions requires accurate entry to journals and ledgers; the accounting equation is Assets = Liabilities + Equity, and debits must equal credits.

A bank reconciliation explains the difference between the cash book and the bank statement using outstanding deposits, unpresented cheques, bank fees and direct entries.

Cash handling controls include dual counting, sequential receipting, float reconciliation, secure storage and immediate recording of discrepancies.

Customer complaints and disputes are handled by acknowledging, investigating, resolving within authority and escalating where settlement exceeds delegated limits.

Confidentiality obligations continue after employment ends; customer information may only be accessed and disclosed for authorised business purposes.

The HSC VET course is delivered as a Board Endorsed Course in Financial Services and is structured around industry competency units drawn from the FNS Financial Services Training Package.

Assessment in a VET course has two components: competency (achieved/not yet achieved) for each unit, and an HSC mark derived from the mandatory exam and school-based assessment.

Employability skills embedded in every unit are communication, teamwork, problem solving, initiative and enterprise, planning and organising, self-management, learning, and technology.

Work health and safety duties are governed by WHS legislation: a PCBU must ensure health and safety so far as reasonably practicable, and workers must take reasonable care for themselves and others.

Privacy obligations follow the Australian Privacy Principles, which regulate collection, use, disclosure, security and access/correction of personal and sensitive information.

Anti-money-laundering duties under the AML/CTF Act require reporting entities to conduct customer identification (KYC), monitor transactions and report suspicious matters to AUSTRAC.

The Australian Financial Services (AFS) licence regime under the Corporations Act requires licensees to act efficiently, honestly and fairly and to manage conflicts of interest.

Consumer credit is regulated by the National Consumer Credit Protection Act, which imposes responsible lending obligations, licensing and disclosure requirements.

A unit of competency comprises elements, performance criteria, performance evidence, knowledge evidence and assessment conditions; competence requires evidence across all components.

Assessment must satisfy the principles of validity, reliability, flexibility and fairness, and judgements must be based on sufficient, current and authentic evidence.

Common financial services units cover customer service, processing financial transactions, WHS, privacy, anti-money laundering, credit applications and working in the industry.

Recording financial transactions requires accurate entry to journals and ledgers; the accounting equation is Assets = Liabilities + Equity, and debits must equal credits.

A bank reconciliation explains the difference between the cash book and the bank statement using outstanding deposits, unpresented cheques, bank fees and direct entries.

Cash handling controls include dual counting, sequential receipting, float reconciliation, secure storage and immediate recording of discrepancies.

Customer complaints and disputes are handled by acknowledging, investigating, resolving within authority and escalating where settlement exceeds delegated limits.

Confidentiality obligations continue after employment ends; customer information may only be accessed and disclosed for authorised business purposes.