Task 1 — Initial disclosures: Following a personal introduction, and before you begin gathering information about the clients’ existing financial situation or needs, there are certain disclosures you are required to make as a finance broker regarding the way you are remunerated and the range and limitation of your services.
Identify and describe three (3) of these disclosures. (200 words)
Task 2 — Gathering and documenting client information
Complete the Client Information Collection Tool using the information provided in the case study, (Appendix 1).
Task 3 — Assessing the clients’ situation
1.Based on the information provided in the case study and using the tools available to you
(e.g. loan calculators, including those available on lenders’ websites), provide an assessment of the clients’ borrowing ability and ability to service the loan they require.
Consider and comment on issues such as:
•borrowing ability in relation to the loan required
•deposit requirements for the loan required
•repayment ability based on the loan required
•likelihood that the clients will be able to meet their financial obligations
•do they require Lenders Mortgage Insurance (LMI), and if so, how much will it cost
•any other issues that may impact, now or in the future, on the clients’ ability to meet their obligations, including any possible risks.
    Provide data to support your comments and conclusions. (750 words

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