Course Title: Comply with financial planning practice ethical and operational guidelines and regulations

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: BAFI5193C

Course Title: Comply with financial planning practice ethical and operational guidelines and regulations

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

Michael Elliot

+61 3 9925 5519

michael.elliot@rmit.edu.au

Building 80, Level 5

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 comply with ethical and operation guidelines in one’s own work.
It does not include responsibility to provide guidance to others on the application of regulatory ethical and organisational guideline requirements.
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:

FNSFPL501A Comply with financial planning practice ethical and operational guidelines and regulations

Element:

1. Identify and comply with legislative and regulatory requirements
1.1. Sources of information on legislative, regulatory and industry codes of practice requirements are identified and complied with
1.2. Compliance requirements for the financial planning role are identified with complied with
1.3. Sources of relevant information are accessed regularly including updated memorandums, web pages and journals
1.4.Experts within the practice and external regulatory advisory services are identified and accessed for advice and guidance when required
 

Performance Criteria:

1.1. Sources of information on legislative, regulatory and industry codes of practice requirements are identified and complied with
1.2. Compliance requirements for the financial planning role are identified with complied with
1.3. Sources of relevant information are accessed regularly including updated memorandums, web pages and journals
1.4. Experts within the practice and external regulatory advisory services are identified and accessed for advice and guidance when required
 

Element:

2. Apply standards of ethical behaviour
2.1. Principles and standards of ethical behaviours are identified from training, peers, industry codes of practice and organisation guidelines
2.2. Work is continually monitored to ensure it meets ethical standards
2.3.Tasks to be completed that may raise doubt regarding their propriety are checked and cleared with an expert source
 

Performance Criteria:

2.1. Principles and standards of ethical behaviours are identified from training, peers, industry codes of practice and organisation guidelines
2.2. Work is continually monitored to ensure it meets ethical standards
2.3. Tasks to be completed that may raise doubt regarding their propriety are checked and cleared with an expert source
 

Element:

3. Identify and comply with organisational operation guidelines
3.1. Operation guidelines are identified and applied to own work with updates checked regularly
3.2. Experts within the organisation responsible for guidelines interpretation and assistance are identified and contacted when needed
3.3. A personal monitoring system including checklists and peer review mechanisms is established to ensure compliance
3.4.Opportunities for professional development are identified and acted on
 

Performance Criteria:

3.1. Operation guidelines are identified and applied to own work with updates checked regularly
3.2. Experts within the organisation responsible for guidelines interpretation and assistance are identified and contacted when needed
3.3. A personal monitoring system including checklists and peer review mechanisms is established to ensure compliance
3.4. Opportunities for professional development are identified and acted on
 


Learning Outcomes



Details of Learning Activities

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


Teaching Schedule

Teaching Schedule
The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
 
Week                       Week                                                      Commencing                                                                                                    Topics                                                                   Assessment
111th Feb                                               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
 Financial Services  Industry – Module 1- Chapter 1
Spreadsheet exercises
 
 
218th FebSpreadsheet exercises
Financial Services Industry – Module 1- Chapter 1
 
 
325th FebFinancial Services Industry – Module 1- Chapter 2Assessment on Topics from weeks 1 and 2
Excel Activity Questions Grading (CA/NYC)
 
44th MarchFinancial Services Industry – Module 1- Chapter 2
continued
 
 
511th MarchFinancial Services Industry – Module 1- Chapter 3 
618th MarchFinancial Services Industry – Module 1- Chapter 3
continued
 
 
725th MarchFinancial Services Industry – Module 1- Chapter 427th (Wednesday)last day of teaching before Easter break. Classes resume Thursday 4th of April
  Mid semester break (28th March to 3rd April) 
88th AprilFinancial Services Industry – Module 1- Chapter 4
Continued
Financial Services Industry – Manage Client Services- Chapter 1
 
 
915th AprilFinancial Services Industry – Manage Client Services- Chapter 2 
1022nd AprilFinancial Services Industry – Manage Client Services- Chapter 3 
1129th AprilFinancial Services Industry – Manage Client Services- Chapter 4 
126th MayFinancial Services Industry – Manage Client Services- Chapter 5
Introduction to Role Plays (This is outlining the assessment)
 
Final Role Play Assessment discussion
With teacher
 
1313th MayIntroduction to Role Plays (This is outlining the assessment)Final Role Play Assessment Practice
With teacher
 
1420th MayCompletion of role Plays and Final assessment review and DiscussionContinued as per above
(CA/NYC)
 
1527th MayAssessment 3 – (CA/NYC)
(From Topics covered in Weeks 3 to Weeks 14)
 
(CA/NYC)
163rd JuneRe-submissions if required 
1710th JuneFeedback 


Learning Resources

Prescribed Texts


References


Other Resources

Lecture and tutorial notes are on blackboard and various readings if applicable.


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

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 be developing an excel spreadsheet. CA/NYC

TASK 2 CA/NYC
A Role Play as a client/adviser assessment on risk management.

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


Assessment Matrix

Other Information

This competency is co delivered with:
BSBITU402A: Develop and use Complex Spreadsheets
FNSFPL506A: Determine requirements and expectations
FNSCUS505A: Determine requirements and expectations
FNSCUS506A: Record and Implement client instructions
 

Course Overview: Access Course Overview