Part 3: Oral response to questions

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Make a 10 minute recording of yourself answering the following questions. Before you start make
sure you have read the resources in your subject in KapLearn to assist you with your oral assessment
by audio recording. Leave the second column blank so you assessor can record a summary of your
oral responses. You will need to rehearse your responses before the oral assessment, to ensure that
your responses are within the maximum time frame.
(Note: A volunteer is not required to complete these questions.)

Questions Summary of oral response (assessor only)

1. You own a broker business named XYZ Brokers and employ
five staff — two additional brokers and three staff in support
roles. Your support staff assist both you and your additional
two brokers in processing loans. They also liaise with
lenders and other parties on loan matters.
As a business owner, you are concerned that XYZ Brokers is
not achieving the maximum potential it could. You want to
make improvements to the business’s performance to assist
in its growth. This will involve some research and setting out
a plan for the future.
Describe how you would
• gain an understanding of the strengths and opportunities
for your business
• identify the weaknesses and threats to the business
• obtain benchmarking data to assist with your review of
the existing performance of your business
• develop a plan for improvement and growth, and who
you would involve or consult
• implement and monitor the progress.
2. One of the initiatives coming from your review of the
business is to develop and grow additional business and
networking relationships, while always being aware of the
legislative, regulatory and professional codes of practice that
must be followed.
What are some of the actions your team would take to:
• expand your referral network
• build and maintain professional business relationships
• expand and enhance your business’s reputation in the
marketplace while always adhering to client privacy
requirements, governing laws and industry codes of
practice.
3. You have developed concerns lately over your staffs’ ability
to complete work efficiently and effectively. They seem to
put in a lot of hours, but at times you have discovered staff
working on tasks that have already been started or completed
by someone else.
Describe the actions you need to take to improve the
performance of the team, their outputs and, at the same time,
create more team harmony. In your answer you might
consider the following:
 • How would you go about a review of work allocations
and who would you involve in the process?
• What record of job roles would need to be developed and
implemented?
• How would you monitor individual and team
performances?
• How you would reward excellent individual and team
performances?
4. You consider staff development an important part of your
role and you take pride in seeing staff develop and advance
to new roles.
Describe how you would:
• identify development and training needs of staff
• manage a non-performing staff member
• terminate a staff member who is performing poorly, if
their performance does not improve.
5. As a business owner, team leadership is a big part of running
a successful business. Essentially, you are responsible for:
• leading by example
• enhancing the image and profile of the business
• encouraging staff to participate in decision-making for
their own growth
• monitoring business and individual performances.
Describe how you would deal with and prioritise each of the
above responsibilities in your role as a business owner of
XYZ Brokers, in order to build a successful business.
6. Running your own successful business can be rewarding.
But it does come with risk.
All successful businesses identify and manage these risks by
adopting a Risk Management Strategy, as well as processes
to manage these risks. You understand that you will require
help from others in formulating your Risk Management
Strategy.
Describe:
• how you would analyse and document the various risk
exposures in your business
• who will be the key stakeholders that you would involve
in identifying the risks and formulating a Risk
Management Strategy
• how you would effectively liaise and communicate with
stakeholders
• how you will keep these stakeholders informed at each
stage of the process and obtain their commitment to
assist in management of the identified risks.