Course Title: Conduct financial planning analysis and research

Part B: Course Detail

Teaching Period: Term2 2013

Course Code: BAFI5190C

Course Title: Conduct financial planning analysis and research

School: 650T TAFE Business

Campus: City Campus

Program: C5317 - Diploma of Financial Planning

Course Contact : Sam Tabit

Course Contact Phone: +61 3 9925 1466

Course Contact Email:sam.tabit@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Michael Elliot- Teacher:  michael.elliot@rmit.edu.au or 9925 5519

 John Calabro- Teacher : <font size="3" face="Calibri">Contact only on </font><font color="#0000ff" size="3" face="Calibri">john.calabro@rmit.edu.au</font><font size="3" face="Calibri"> </font>

Nominal Hours: 50

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 undertake financial planning analysis and research. It encompasses evaluating a client’s current situation and identifying issues, research requirements and parameters for extracting and analysing information, and summarising research information.
This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSFPL502A Conduct financial planning analysis and research

Element:

Extract and analyse information according to research requirements and parameters

Performance Criteria:

3.1. Data extraction criteria are established that are relevant to intended use and client requirements
3.2. Trends are identified to provide meaningful information on performance of possible strategies, products and markets
3.3. Risk assessment is made of strategies and products identified through the research
3.4. Financial products are analysed within appropriate timeframes to ensure currency of decision making
3.5. Obtained information is prioritised according to client requirements and expectations
3.6. Issues that require specialist research or advice are identified and appropriate advice obtained
 

Element:

Identify research requriements and parameters

Performance Criteria:

2.1. Aims and objectives of research including strategy, product and performance parameters are established against client requirements and expectations with all issues identified
2.2. A wide range of relevant internal and external information resources required for the research are identified and accessed
2.3. Timeframes are established and requests for information prioritised to ensure milestones are met
 

Element:

Evaluate the client's current situation and identify any issues

Performance Criteria:

1.1. Analysis of the integrity of information provided by the client is undertaken
1.2. The client objectives are identified and quantified and tested for viability
1.3. The basis for strategy development is established based on confirmed objectives
 

Element:

Summarise research information

Performance Criteria:

4.1. Information on financial strategies and products is collated and checked against research specification
4.2. Written performance, trend and risk analyses are prepared and checked against research specification
4.3. Any qualifications or issues for further research are documented
 


Learning Outcomes



Details of Learning Activities

Completion To achieve the learning outcomes of the course students are required to participate in the
learning activities listed below:

• Reading of and note taking from the prescribed textbook and other references;
• Completion of tutorial exercises prior to each workshop. Tutorial exercises consist of practical
problems, short answer questions, multiple choice, case studies and extension exercises;
• Attendance, participation and discussion in class (tutorials);
• Optional consultation with academic staff and
Completions of three (3) assessment tasks as indicated below.
 


Teaching Schedule

 

 

wkcommenceTopicsAssessement
18th Jul 2013Overview of Superannuation Industry
• The Development of Superannuation in Australia
• Member Choice , • Participants in the
Superannuation Industry, • Long Term Growth Impact , • Asset Allocation , • Risk and Return Trade Off , • Investment Performance ,
• Investment Strategy/Restrictions
 
 
215th Jul 2013The Regulatory Framework •Superannuation Industry (Supervision) Act 1993
•Australian Prudential Regulatory ‘ Authority
•Australian Securities & Investments ,Commission
•The Australian Taxation Office ,•Authorised Representatives
 
 
322nd Jul 2013The Regulatory Framework
•Superannuation Industry (Supervision)
Act 1993
•Australian Prudential Regulatory
Authority
•Australian Securities & Investments
Commission
•The Australian Taxation Office
•Authorised Representatives
 
 
429th Jul 2013Contributions to Superannuation
Funds
• Why Contribute to a Superannuation Fund
• Who can contribute?
• Types of Contributions
• Government Superannuation Co contribution for Low Income Earners
 

 

55th Aug 2013Contributions to Superannuation Funds
• SGC the Rules
• Tax Treatment of Contributions
• Share dividend Imputation and
• Spouse Contribution Splitting
• Spouse Contributions
 
 
612th Aug 2013Withdrawals from Superannuation
• Payments Made as a Consequence of Termination of Employment
• Preservation ,• Access to Superannuation
• Conditions of Release of Superannuation Benefits • What is the Meaning of ‘Retirement’
• Employer Eligible Termination,Payments ETP’S
 
 
719th Aug 2013Withdrawals from Superannuation
•Superannuation Benefits ,•Taxation of superannuation pension ,benefits
•Untaxed Superannuation Schemes,•Disability Payments ,•Transition to Retirement
 
 
8 26th Aug 2013Death Benefits, Estate &
Retirement Planning Issues
• Superannuation Death Benefits
• Death Benefit Nomination – The
Options ,• Taxation of death benefit
• Child Allocated Pensions (CAP)
• Superannuation and Marriage
Breakdown ,• Valid superannuation agreement
• Anti Detriment Payment
 
 
  MID-SEMESTER BREAK (2nd Sep – 8th Sep 2013) 
99th Sep 2013Payment of Superannuation Benefits as Income Stream
Income Streams
• Planning for Retirement
• Government key objectives in
retirement planning
• Retirement Income stream products
• Account based income streams
• Non Account Based Income streams
• Term certain annuities & pensions
• Lifetime pensions annuities
• Account-based pensions & annuities
 
 
1016th Sep 2013Payment of Superannuation Benefits as Income Stream
• Term allocated income streams
• Transition to Retirement Income
Streams Comparison of different types
of Income Steam Products
• Income rules for account-based
pensions and Annuities ,• Calculating income requirement for
Products Prior 1 July 2007 & Post 1
July 2007,• Determining taxable component of
pensions & relevant tax offset
• Re-contribution strategy,• Social Security Assessment of Income
Streams
 
 
1123th Sep 2013Social Security
• Treatment of Superannuation and
Rollover Investments,• Withdrawals from a Superannuation,Investment?
• Accessing Superannuation Money,before Retirement
 
 
1230th Sep 2013         <font size="3" face="Times New Roman"> </font>

Social Security <o:p></o:p>

&#61623; Treatment of Superannuation and <o:p></o:p>

Rollover Investments,&#61623; Withdrawals from a Superannuation,Investment? <o:p></o:p>

&#61623; Accessing Superannuation Money,before Retirement              
 
137th Oct 2013&#61607;<font size="3" face="Times New Roman"> </font>

Self Managed Superannuation Fund <o:p></o:p>

&#61623; Background to SMSFs <o:p></o:p>

&#61623; What is an SMSF? <o:p></o:p>

&#61623; Single Member Funds <o:p></o:p>

&#61623; Small APRA Funds <o:p></o:p>

&#61623; Who can establish an SMSF?
 
 
1414th Oct 2013

&#61607;Self Managed Superannuation Funds <o:p></o:p>

&#61607; Advantages of SMSFs <o:p></o:p>

&#61607;Where can an SMSF Invest <o:p></o:p>

&#61607;Considerations in Planning for an SMSF <o:p></o:p>

&#61607; Establishing a SMSF <o:p></o:p>

&#61607;Risk Management Statement <o:p></o:p>

&#61607;Investment Strategy
 
1521st Oct 2013Revision 
1628th Oct 2013Final Assessment 
    


Learning Resources

Prescribed Texts

RMIT Superannuation and Retirement Planning module: Access online via Blackboard


References


Other Resources

Online sources such as asx, FPA, RBA.


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 (Due Date: In class week 3)
For this Assessment Task you are required to sit a demonstrate knowledge of the financial planning
industry by completing a number of short answer and multiple choice questions. This task will be Class based on Writing activity.

TASK 2 (Due Date: End of Week 13)

For this assessment task you are required to research and develop strategies based on a case study
covering topics covered in all subject areas, financial planning, insurance, superannuation and invesments. This is a group assessment.

TASK 3 (Due Date: End of Week 16)

For this assessment task you need to undertake a open book class based assessments based on all
material covered and element in this unit
 


Assessment Matrix

Further information regarding the application of the grading criteria will be provided by your teacher.

Other Information

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 (Due Date: In class week 3)
For this Assessment Task you are required to sit a demonstrate knowledge of the financial planning
industry by completing a number of short answer and multiple choice questions. This task will be Class based on Writing activity.

TASK 2 (Due Date: End of Week 13)

For this assessment task you are required to research and develop strategies based on a case study
covering topics covered in all subject areas, financial planning, insurance, superannuation and invesments. This is a group assessment.

TASK 3 (Due Date: End of Week 16)

For this assessment task you need to undertake a open book class based assessments based on all
material covered and element in this unit.

 Submission Requirements

Assessment tasks must be submitted via the course Blackboard and though Tunitin, a plagiarism checking tool. Turnitin will assess your work in approximately one minute, and return a colour coded response for the originality of the text. For information on Turnitin see:

Student FAQ, http://www.rmit.edu.au/academicintegrity/studentfaq
Student procedures and account setup (pdf),
http://www.rmit.edu.au/academicintegrity/studentprocedures
Turnitin student information page, https://www.turnitin.com/static/training/student.php

• Always retain a copy of your assessment tasks (hard and soft copy)
• Ensure that you submit assessments on or before the due date. If your performance is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz .
• When submitting any individual or group work for assessment at RMIT University you must complete, sign and submit a cover sheet in which sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet is available on blackboard.
• Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, s324567, Task 2, MKTG6077C Sell financial products, Page 1 of 10.
Please note that to confirm your competency you may be questioned on any aspect of an assignment you submitted, either as an individual or as part of a group. In the case of a group assignment you may be questioned about any aspect of the assignment, even parts of it you may not have directly prepared.

Marking Guide (competency):

Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp of the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will state whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

 

 

 


Marking Guide (Grading)

After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognised against industry standards and employability skills.

The grading is according to the following criteria:

1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK
Demonstrates a high level of ability to complete all tasks independently as per the specifications, a high level of initiative in interacting with a customer and selling a financial product.

2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING
Demonstrates depth of understanding of the key concepts and knowledge required in interacting with a customer and selling a financial product.

3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
Shows understanding of the kinds of problems that can arise in interacting with a customer and selling a financial product. and how these may be addressed.

4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
Demonstrates effective planning, manage and organise time through appropriately using a diary, submitting their assessments within deadlines.

5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
Contribute constructively and clearly to relevant group and class discussions, also demonstrate good techniques in collecting and providing information to appropriately sell products within the employer’s guidelines.

Final Grades Table:

CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment

Further information regarding the application of the grading criteria will be provided by your teacher.
 

Course Overview: Access Course Overview