Course Title: Comply with financial planning practice ethical and operational guidelines and regulations
Part B: Course Detail
Teaching Period: Term1 2007
Course Code: BAFI5130C
Course ID: 039006
Course Title: Comply with financial planning practice ethical and operational guidelines and regulations
School: 650T TAFE Business
Program Code: C5179 - Diploma of Financial Services
Course Contact : Craig Kingsley
Course Contact Phone: 61 3 9925 5456
Course Contact Email: craig.kingsley@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
The unit identifies the skills and knowledge associated with complying with ethical and operation guidelines in the preparation of a financial plan and where there is a responsibility to provide guidance to others on the application of regulatory ethical and organisational guideline requirements.
This course aims to draw together knowledge and skills acquired from earlier studies within the Diploma.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSFPLN501A Comply with financial planning practice ethical and operational guidelines and regulations |
Element: |
Apply standards of ethical behaviour |
Performance Criteria: |
• Standards of ethical behaviours are identified from training, peers, industry codes of practice and organisation guidelines |
Element: |
Identify and comply with industry codes of practice |
Performance Criteria: |
• Industry codes of practice are identified and applied to own work |
Element: |
Identify and comply with legislative and regulatory requirements |
Performance Criteria: |
• Sources of information on legislative, regulatory and industry codes of practice requirements are identified and complied with |
Element: |
Identify and comply with organisational operation guidelines |
Performance Criteria: |
• Operation guidelines are identified and applied to own work |
Learning Outcomes
As per the performance elements above.
Overview of Learning Activities
Details of Learning Activities
In this course students will undertake a range of learning activities, which will include:
An initial introduction to topics and techniques via teacher directed learning, tutorial-based discussion groups, role-plays to explore individual reactions to particular situations, a group project (case-study, tutorial exercises in order to develop competency including underpinning skills and knowledge.
Teaching Schedule
This program is intended as a guide only. It is subject to variation. Any changes will be communicated to students.
Weekly Schedule | ||
Week beginning | Topics | Tutorial/class work |
Week 1 – 12 Feb | Review of Financial Services Industry | An overview of the financial services industry and the economic environment in with it operates. |
Week 2 – 19 Feb | Review of Financial Services Industry | An overview of the financial services industry and the economic environment in with it operates. |
Week 3 – 26 Feb | Test on Financial Services Industry | Multiple Choice Test. |
Week 4 – 5 Mar | Manage Client Services | Consulting with Clients and Determining Client needs. |
Week 5 – 12 Mar | Manage Client Services | Preparing Statements of Advice |
Week 6 – 19 Mar | Test on Manage Client Services | Multiple Choice Test. |
Week 7 – 26 Mar | Superannuation. | Overview of the Superannuation Industry in Australia. |
Week 8 – 2 April | Superannuation | The Regulatory Framework for Superannuation in Australia |
Mid Semester Break (Student Vacation) – 5th to 11th April |
||
Week 8 – 9 April | Superannuation | The Regulatory Framework for Superannuation in Australia |
Week 9 – 16 April | Superannuation. | Contributions to and withdrawals from superannuation funds. |
Week 10 – 23 April | Superannuation. | Self managed Superannuation Funds. |
Week 11 – 30 April | Test on Superannuation. | Multiple Choice Test. |
Week 12 – 7 May | Managed Investments. | Overview of Managed Investments. |
Week 13 – 14 May | Managed Investments. | The Regulatory Framework for Managed Investments. |
Week 14 – 21 May | Test on Managed Investments. | Multiple Choice Test. |
Week 15 – 28 May | Securities and Derivatives. | Overview of the Securities and Derivatives Industry in Australia. |
Week 16 – 4 June | Test on Securities and Derivatives. | Multiple Choice Test. |
Week 17 – 11 June | Financial Planning Industry | Overview of the Financial Planning Industry in Australia. |
Week 18 – 18 June | Test on Financial Planning Industry. | Multiple Choice Test. |
Overview of Learning Resources
Learning Resources
Prescribed Texts
References
Recommended readings for this course include: |
|
Gitman LJ, Morrison DS and Joehnk MD, Personal Financial Planning – an Australian Perspective, Thomson, 1st Edition. |
Other Resources
• Print-based resources
Students will be provided with a learner’s guide that will include tutorial discussion questions, short answer questions and problem sets, self-directed exercises, some solutions and core notes for each topic.
• On-line resources
Students will be provided with on-line resources in the learning hub that include lectures and self-directed exercises, on-line feedback exercises and relevant URL’s.
• Other prescribed requirements:
You will be required to have access to a financial calculator within the course. Questions in the examination may be based on your having access to a financial calculator to perform financial calculations.
Students must be very familiar with the course material and its entire contents. Additional reading is required from contemporary sources. Students are required to undertake their own reading and research of the course independently and to properly acknowledge sources of information used for assignment work.
Overview of Assessment
Assessment will incorporate a variety of methods including tests, a group assignment and exam.
Tests comprise multiple choice and short answer questions will assess performance element one relating to the regulatory compliance requirements.
The assignment may consist of an investigation and report on the impact of legislation on the conduct of financial advisers.
Exam will be closed book test consisting of multiple-choice questions, a case study and some short answer questions.
You will receive ongoing feedback on your progress in the course. Feedback on assessment will be given in a timely manner. You will be informed about how to improve your performance in the competency/course and what you need to do to be deemed competent or to gain a pass in the assessment.
Assessment Tasks
The assessment will consist of:
1. A series of Tests comprising multiple choice questions. These are designed to assess each performance element and to meet ASIC’s requirements for Tier 1 accreditation.
Assessment weighting for this course takes the following form:
Test 1 – Financial Services Industry 10%
Test 2 – Manage Client Services 10%
Test 3 – Superannuation 20%
Test 4 – Managed Investments 20%
Test 5 – Securities and Derivatives 20%
Test 5 – Financial Planning 20%
The final mark is based on all assessment components. To receive a pass for this course a student must achieve an overall mark of 50%.
Course Overview: Access Course Overview