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Explaining a financial product to a customer

Telling a customer in plain words how a financial product works, what it costs and what the risks are.

Good work shows: States fees and charges in plain figures; explains risks as well as benefits; checks the customer has understood.

Explaining a financial product to a customer is one of the banking and insurance skills on FinderK.

The job simulations and Skill Paths below include work that is checked for this skill. You do the work in an original fictional company and get feedback on it.

Job simulations

Price the cold store renewal

Commercial property underwriter at Harrowby Mutual Insurance

About 75 minutes. Included in Plus.

A loyal cold store client wants to renew at last year's price with its sprinkler discount, but the survey found burning foam panels in the roof and the backup sprinkler pump has failed. Rate it by the guide, refer it, and hold firm terms with a broker who says a rival is waiting.

Skills: Rate a property risk by the underwriting guide; Recognise when a risk must be referred and why; Set conditions that address the main hazards; Hold terms with a broker while keeping the relationship; Explain a price change by the features of the risk

Skill Paths

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