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

Part B: Course Detail

Teaching Period: Term2 2014

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

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

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

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.

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

A range of learning activities are planned for this course including self-paced and collaborative classroom based activities. The self-paced activities will be delivered thought various technology platforms and include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.

We expect you to participate and contribute in all scheduled learning activities.
 


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.

 

<thead> <th scope="col">Week</th> <th scope="col">Week Commencing </th> <th scope="col"> Topics                                                                                                                      </th> <th scope="col">Assessment                                                                </th> </thead>
17th of July
 
 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
 
 
214th of July
 
 Spreadsheet exercises
Financial Services Industry – Module 1- Chapter 1
 
Students are to obtain a copy of an (FSG) Financial Services Guide and a (PDS) Product Disclosure Statement. This will be a point of discussion for the adviser skills assessment
321st of July Financial Services Industry – Module 1- Chapter 2 
428th of July Financial Services Industry – Module 1- Chapter 2
continued 
 Task 1 - due
Excel Activity Questions Grading (CA/NYC)
54th of August

 Financial Services Industry – Module 1- Chapter 3

 
611th of August
 
 Financial Services Industry – Module 1- Chapter 3
continued
 

Task 2 - due
Excel Spreadsheets Assignment Due CA/NYC)

718th of August Financial Services Industry – Module 1- Chapter 4

Task 3 - In class Assessment

825th of August Financial Services Industry – Module 1- Chapter 4
Continued
Financial Services Industry – Manage Client Services- Chapter 1

 Final FSG/PDS Role Play Assessment Presentation Discussion

 Mid Semester Break Mid semester Break 1st Sept to 7th Sept. 
98th of September Financial Services Industry – Manage Client Services- Chapter 2Task 4 - FSG/PDS Role Play Assessment
1015th of September Financial Services Industry – Manage Client Services- Chapter 3Task 4 - FSG/PDS Role Play Assessment
1122nd of September Financial Services Industry – Manage Client Services- Chapter 4 
1229th of September Financial Services Industry – Manage Client Services- Chapter 5Task 5 -  Case Study Role Plays
136th of October Financial Services Industry – Manage Client Services- Chapter 5

 Task 5 - Case Study Role Plays

1413th of OctoberFrom Topics covered in Weeks 3 to Weeks 13

 Task 6 In class Assessment

1520th of October Re-submissions if required 
1627th of October  Feedback 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

Co-delivered courses:

This course is co-delivered with the following courses:

BAFI5187C Determine client requirements and expectations

MKTG6074C Determine client requirements and expectations

MKTG6076C Record and implement client instructions

COSC 5946C Develop and use complex spreadsheets

Critical aspects of assessment

Evidence of the following is essential:

  • maintain knowledge of, and comply with, relevant legislative requirements and industry codes of practice and interpret and meet organisational operational guidelines
  • apply standards of ethical behaviour and use knowledge of the financial planning industry, industry regulations and codes of practice in work activities.
  •  

You are required to complete 6 tasks.

You must successfully complete all 6 tasks to be deemed competent in this unit.
 

TASK 1 - Excel Activity (Due date: End of week 4)
For this assessment task you are required to review all the course materials for topics covered in weeks 1 and 2 and complete an Excel Activity.
Excel Activity Questions - Grading (CA/NYC)

TASK 2 - Excel Spreadsheets Assignment (Due date: End of Week 6 )
For this assessment task you are required to answer a series of questions using an excel spreadsheet.
Excel Spreadsheets Assignment - Grading (CA/NYC)
 

TASK 3 - In class Assessment Task (Due date: End of Week 7)
For this assessment task you will undertake an open book in class assessment requiring you to answer a series of questions in week 7 - during normal class time for the duration of one hour.
The in- class assessment will cover topics from the module financial services regulations
In class activity – Grading (CA/NYC)
 

TASK 4 - Role plays (Weeks 9 - 10)
For this assessment task you will participate in role plays to demonstrate your skills and knowledge in Financial Services Guide and Product Disclosure Statement
Role plays – Grading (CA/NYC)
 

TASK 5 - Case study role plays (Weeks 12 - 13)
For this assessment task you will participate in case study role plays to demonstrate your presentation skills and knowledge in analysing a case study and making appropriate strategic recommendations.
Case study role plays – Grading (CA/NYC)

TASK 6 In class Assessment Task (Due date: End of Week 14)
For this assessment task you will undertake an open book in class assessment requiring you to answer a series of questions in week 14, during normal class time for the duration of 2 hours. The topics that will be covered are: Module Financial Services Regulations and Manage client Services. All resources will be posted on Blackboard. The in- class assessment will cover topics from weeks 3 - 13.
In class activity – Grading (CA/NYC)


Assessment Matrix

Other Information

Submission Requirements

You should:

Ensure that you submit assessments on or before the due date.
Always retain a copy of your assessment tasks. (hard copy and soft copy)
When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on blackboard.
Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf


Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
 

Resubmissions (VET Programs):

If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.
 

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
 

Adjustments to Assessment


In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website: http://rmit.edu.au/browse;ID=7usdbki1fjf31


Marking Guide (Competency):

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:
 

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