"I understand my own skills and experience and how to translate these into successful applications."
This competency is about understanding not just your own skills and experience, but also the employment market and how your skills can be applied and marketed to different employers for the specific need they have.
You then need to be able to craft clear application documents tailored to a prospective employer which demonstrate that you can positively impact their success. Finally, you must know how to prepare for interviews and talk about your achivements and attributes in a profressional manner.
The Careers Service can provide assistance in developing these skills, and your School will also run relevant activities.