Course Title: Advise clients on financial risk

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: ACCT5332C

Course Title: Advise clients on financial risk

School: 650T TAFE Business

Campus: City Campus

Program: C5317 - Diploma of Financial Planning

Course Contact : Michael Elliot

Course Contact Phone: +61 3 9925 5519

Course Contact Email:michael.elliot@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

This unit describes the performance outcomes, skills and knowledge required to determine a client’s financial risk profile, assess risk management options and produce detailed reports to present findings to clients and other relevant people.


This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSFMK503A Advise clients on financial risk

Element:

2. Assess financial risk
2.1. Assessment criteria for measuring the level of potential or existing risk, together with an assessment of consequences are developed in accordance with organisational requirements
2.2. Information collected is assessed using the assessment criteria and appropriate analytical techniques
2.3. Threat, consequences and vulnerability for a range of financial products is compared, in accordance with client and organisational requirements
2.4. Risk management alternatives are developed to include assessment of alternatives and estimation of long and short term effects
2.5.Incidents and factors increasing or diminishing financial performance are identified, analysed and discussed with the client
 

Performance Criteria:

2.1. Assessment criteria for measuring the level of potential or existing risk, together with an assessment of consequences are developed in accordance with organisational requirements
2.2. Information collected is assessed using the assessment criteria and appropriate analytical techniques
2.3. Threat, consequences and vulnerability for a range of financial products is compared, in accordance with client and organisational requirements
2.4. Risk management alternatives are developed to include assessment of alternatives and estimation of long and short term effects
2.5.Incidents and factors increasing or diminishing financial performance are identified, analysed and discussed with the client

 

Element:

1. Determine risk profile
1.1. Interpersonal skills are applied to confirm client's financial needs, expectations and objectives in accordance with organisational requirements
1.2. Valid and relevant information is obtained to determine the complexity of client's needs and their asset and liability management framework is analysed to ensure it matches their broader strategic direction and risk profile
1.3.The context for assessing risk is based on an understanding of the client's personal situation, operating environment or core business
 

Performance Criteria:

1.1. Interpersonal skills are applied to confirm client's financial needs, expectations and objectives in accordance with organisational requirements
1.2. Valid and relevant information is obtained to determine the complexity of client's needs and their asset and liability management framework is analysed to ensure it matches their broader strategic direction and risk profile
1.3.The context for assessing risk is based on an understanding of the client's personal situation, operating environment or core business

 

Element:

3. Report findings
3.1. Risk management alternatives are documented in accordance with organisational requirements and relevant legislation
3.2. Retail client disclosure documents outlining client responsibilities are prepared and explained to the client
3.3. Client information is updated, modified and accurately maintained in accordance with organisational requirements
3.4. Risk analysis documentation is prepared and filed in accordance with organisational and legislative requirements
3.5.All information is handed safely and securely with due regard to client confidentiality and legislative and organisational requirements
 

Performance Criteria:

3.1. Risk management alternatives are documented in accordance with organisational requirements and relevant legislation
3.2. Retail client disclosure documents outlining client responsibilities are prepared and explained to the client
3.3. Client information is updated, modified and accurately maintained in accordance with organisational requirements
3.4. Risk analysis documentation is prepared and filed in accordance with organisational and legislative requirements
3.5.All information is handed safely and securely with due regard to client confidentiality and legislative and organisational requirements
 


Learning Outcomes



Details of Learning Activities

This unit is delivered using a blend of classroom based and self -paced learning activities.


Teaching Schedule

Week                                                                                                                  Week Comm                                                                                                  Topics                                                                                                                    Assessment
1 Pre-training review:
• RPL /LLN
Familiarisation with:
• Program
• Services/facilities
• Other students
• Teacher(s)
• Where to get support
• Student responsibilities
• Course requirements
• Course support documents
• Pre-reading
• Blackboard
• Overview of assessment requirements
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
 
 
2 Chapter 1
Diploma of Financial Planning
Insurance Planning Module
 
 
3 Chapter 1
Diploma of Financial Planning
Insurance Planning Module
 
Assessment on Topics from weeks 1 and 2
Short Answer Questions Grading (CA/NYC)
 
4 Finalise Chapter 1
Diploma of Financial Planning
Insurance Planning Module
Assessment 1 feedback
 
 
5 Chapter 2
Diploma of Financial Planning
Insurance Planning Module
 
 
6 Chapter 2 (continued)
Diploma of Financial Planning
Insurance Planning Module
 
 
7 Chapter 2 (continued)
Diploma of Financial Planning
Insurance Planning Module
 
27th (Wednesday)last day of teaching before Easter break. Classes resume Thursday 4th of April
                                                                                                                            Mid semester break (28th March to 3rd April)
8 Finalise Chapter 2
Diploma of Financial Planning
Insurance Planning Module
 
Assignment Handed out including discussion on assessment requirements.
9 Chapter 3
Diploma of Financial Planning
Insurance Planning Module
 
 
10 Chapter 3
Diploma of Financial Planning
Insurance Planning Module
 
 
11 Finalise Chapter 3
Diploma of Financial Planning
Insurance Planning Module
 
Electronic Draft of assignment to be submitted to teacher in class.
12 Chapter 4
Diploma of Financial Planning
Insurance Planning Module
 
Final Assignment discussion
With teacher
 
13 Chapter 4
Diploma of Financial Planning
Insurance Planning Module
 
Final Assignment discussion
With teacher
 
14 Finalise Chapter 4
Diploma of Financial Planning
Insurance Planning Module
 
Continued as per above
Assignment due (CA/NYC)
 
15 Assessment 3 – (CA/NYC)
(From Topics covered in Weeks 3 to Weeks 14)
 
 
16 Re-submissions if required 
17 Feedback 


Learning Resources

Prescribed Texts


References


Other Resources


Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met. You will be provided with feedback throughout the course to check their progress.
 


Assessment Tasks

You are required to complete 3 tasks. You must successfully complete all 3 tasks to be deemed competent in this unit.

TASK 1 ( Week 3)
This will consist of a multiple choice question and short answer assessment. CA/NYC

TASK 2 (Week 13) CA/NYC
An individual assignment requiring students to conduct research into risk management.
The above task will be presented in report format (approx. 300- 500 words per recommendation).

TASK 3 (Week 15) CA/NYC
A two hour open book assessment covering Topics covered in Weeks 3 to Weeks 14


Assessment Matrix

Course Overview: Access Course Overview