Course Title: Comply with financial planning practice ethical and operational guidelines and regulations
Part B: Course Detail
Teaching Period: Term1 2015
Course Code: BAFI5193C
Course Title: Comply with financial planning practice ethical and operational guidelines and regulations
School: 650T Vocational Business Education
Campus: City Campus
Program: C5317 - Diploma of Financial Planning
Course Contact : Michael Elliot
Course Contact Phone: +61 3 9925 5519
Course Contact Email:firstname.lastname@example.org
Name and Contact Details of All Other Relevant Staff
E-mail - email@example.com
Phone: (03) 99255464
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
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
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
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
3. Identify and comply with organisational operation guidelines.
3.1. Operation guidelines are identified and applied to own work with updates checked regularly
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
Prior to training commencement a program level induction session will be conducted that comprises the following:
• Program overview and requirements
• Overview of assessment requirements
• Pre-training Review including: Recognition of Prior Learning and Credit Transfers and Assessment of current skills and knowledge
• Competency/grading criteria
• Submission Requirements
• Resubmission policy
• Where to get support
• Student responsibilities
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.
|1||9th Feb|| Introduction to the Course including:|
• Course requirements
• Course support documents Course Blackboard access
• Accuracy of enrolment
• Assessment requirements/cover sheets including RPF & credit
• Reminder re Plagiarism
• Reminder re Appeals
• Extensions and Resubmissions
• Feedback in the course
• Reminder re re submission requirements
• Getting help
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|
Financial Services Industry – Module 1- Chapter 2
|4||2 March||Financial Services Industry – Module 1- Chapter 2|
Financial Services Industry – Module 1- Chapter 3
|6||16 March||Financial Services Industry – Module 1- Chapter 3|
|7||23 March||Financial Services Industry – Module 1- Chapter 4||
|8||30 March||Financial Services Industry – Module 1- Chapter 4|
Financial Services Industry – Manage Client Services- Chapter 1
|Mid Semester Break||Mid semester Break : 2 April - 8 April|
|9||13 April||Financial Services Industry – Manage Client Services- Chapter 2||Project 1 Due|
|10||20 April||Financial Services Industry – Manage Client Services- Chapter 3|
|11||27 April||Financial Services Industry – Manage Client Services- Chapter 4|
|12||4 May||Financial Services Industry – Manage Client Services- Chapter 5|
|13||11 May||Financial Services Industry – Manage Client Services- Chapter 5||
|15||25 May||Re-submissions if required|
Students will be provided with feedback throughout the semester.
Student resources will be placed on Blackboard and will be used when directed so by your teacher.
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
Co-delivered and co-assessed courses:
This course is co-delivered and co-assessed with the following courses:
BAFI5187C Determine client requirements and expectations
MKTG6074C Determine client requirements and expectations
MKTG6076C Record and implement client instructions
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 two tasks.
You must successfully complete all two tasks to be deemed competent in this unit.
TASK 1 - Project 1 date: End of week 9)
For this project you will assume you are working as a financial adviser either in your own business or as part of a larger organisation.
You will be required to produce a Financial Services Guide for a new staff member who is commencing work at your organisation in a financial role but who has little understanding of the industry. The Guide has 3 sections. All sections must be successfully completed to demonstrate competence in this part of the program.
TASK 2 - Project 2 (Due date: End of Week 14)
This project requires you to devise strategies and techniques to determine the financial situation and requirements of a simulated client to enable the development of an appropriate plan to meet their needs.
There are two parts to this project. Both parts must be successfully completed to demonstrate competency in this section of the program.
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