ASSESSMENT TASKS - EXERCISE 4 Page 2 EXERCISE 4 BUSINESS / MARKETING PLAN There are 2 Tasks to this Exercise: Type your answer as a Word document or equivalent. Task 1 - 5 questions = 30 Marks Task 2 1 Plan = 20 Marks [Total 50 marks] Scenario Assume you are now a mortgage broker and you are either working as an independent contractor, or are self-employed or about to open a franchise. Alternatively, you may be a broker who has just joined a business as an employee. If you have not started working in the financial services industry, you will need to anticipate your role as you would see it in the future ie. a simulated workplace environment. In every situation you need a plan to succeed. As part of your assessment, you must assume you have 2 other staff members working with you (their roles are your choice). Your plan to ensure you are successful as a broker will include your recognition that attracting and retaining clients will be critical to the business's short and long term viability. You need to have strategies in mind, techniques you will use, software support ideas, thoughts about your advertising budget and goals to achieve from your commissions. Your goal around the income you desire is a good motivation, so think about how you will achieve that income goal. You and your team will also have \"Continuous Professional Development\" requirement hours once you start, so outline this in your plan as it will have time and funding commitments as well as being a compliance necessity. The course content will have prepared you for understanding the many requirements, including compliance, that are critical for operating successfully in the financial services industry. Long answers may not necessarily be required for all questions. Unit 12 will be a key source of information and you can utilise the internet as required. Units 9, 10 and 11 will also be helpful. Copyright 2021 The National Finance Institute v.210821 ASSESSMENT TASKS - EXERCISE 4 Page 3 Task 1 [Total Marks 30] Either create your answer as a separate document containing your answers or type your answers into the boxes provided for each of the 5 questions that follow: 1. Dene how you would prepare and conduct research for a business plan including the following: a. The key Acts of legislation relating to business operations that cover the how you need to abide by i) Work health and safety, ii) Equal opportunity iii) Industrial relations d) Environmental b. List 3 methods of conducting market research c. List 2 external resources that could assist you with your business planning Copyright 2021 The National Finance Institute v.210821