Course Title: Implement financial plan

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: BAFI5192C

Course Title: Implement financial plan

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: 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 prepare and provide financial planning advice, which may include products, services and strategies. It encompasses establishing actions, timings and priorities needed to implement a financial plan, and procedures for implementation monitoring or supervising implementation of financial plan actions.


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:

FNSFPL504A Implement financial plan

Element:

3. Undertake and/or supervise implementation of financial plan actions
3.1. Authorised representative ensures client has information on actions they must undertake and assistance is provided where needed
3.2. Authorised representative ensures instructions are issued to internal and external personnel as per plan requirements
3.3. Checks and follow-ups are made on lodgement of documentation to ensure plan timings are met
3.4. Authorised representative ensures fees and charges are obtained and processed according to organisation and legislative requirements
3.5.Client is debriefed and any concerns addressed promptly and effectively
 

Performance Criteria:

3.1. Authorised representative ensures client has information on actions they must undertake and assistance is provided where needed
3.2. Authorised representative ensures instructions are issued to internal and external personnel as per plan requirements
3.3. Checks and follow-ups are made on lodgement of documentation to ensure plan timings are met
3.4. Authorised representative ensures fees and charges are obtained and processed according to organisation and legislative requirements
3.5.Client is debriefed and any concerns addressed promptly and effectively
 

Element:

1. Establish actions, timings and priorities needed to implement financial plan
1.1. Implementation actions are established which are consistent with client needs and specifications
1.2. Individual implementation actions including timing and priorities designed to maximise advantage to the client are established
1.3. Implementation actions are clearly identified and written agreement to actions from the client is obtained
1.4.Implementation diaries and other appropriate records are established and entered
 

Performance Criteria:

1.1. Implementation actions are established which are consistent with client needs and specifications
1.2. Individual implementation actions including timing and priorities designed to maximise advantage to the client are established
1.3. Implementation actions are clearly identified and written agreement to actions from the client is obtained
1.4.Implementation diaries and other appropriate records are established and entered
 

Element:

2. Establish procedures for implementation of financial plan
2.1. Personnel to implement each action in the plan are identified and briefed
2.2. Internal and external documentation requirements are identified and followed and audit trails are established
2.3.Monitoring procedures are established for critical timings and priorities
 

Performance Criteria:

2.1. Personnel to implement each action in the plan are identified and briefed
2.2. Internal and external documentation requirements are identified and followed and audit trails are established
2.3.Monitoring procedures are established for critical timings and priorities
 


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
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 an assessment consisting of short answer questions. 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