The most important thing in competency-based application forms (I do a lot of sifting for Grade 7 and below roles) is to give specific examples of having met those competencies. (I'm not saying this in response to what you've quoted but as general advice.)
So avoid generalities like 'I manage stakeholders in my day to day job' and instead give specific examples of times when you've managed stakeholders - the more difficult and complex the better - and ideally two rather than one.
Sifters have to mark applications on how much evidence they've been given, so something like 3 (lots of evidence), 2 (good evidence), 1 (some evidence), 0 (no evidence). They can't use much latitude as if there's an appeal, all the sift material has to stand up, and there can't be any suggestion that someone was treated favourably or unfavourably. It's incredibly frustrating to get a form from someone who is clearly good and experienced but hasn't given you the evidence you need.
It's by no means a perfect system. It is designed to let people's experience show and minimise bias on who people are, where they studied, who they know, but of course it has its own flaws, not least that it rewards people who are really good at forms and interviews.
Our G7 ads have an essential either a degree OR relevant work experience, but obviously expect the experience regardless!