Course Title: Conduct product research to support recommendations
Part B: Course Detail
Teaching Period: Term2 2016
Course Code: MKTG7921C
Course Title: Conduct product research to support recommendations
School: 650T Vocational Business Education
Campus: City Campus
Program: C5343 - Diploma of Financial Planning
Course Contact: Callie Harvey
Course Contact Phone: +61 3 9925 5772
Course Contact Email: callie.harvey@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 80
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 skills and knowledge required to carry out research by interpreting available information, and analysing and reviewing research findings and activities to enable the determination of financial investment strategies and options.
It applies to individuals who work in a range of financial services job roles involving research functions.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSINC501 Conduct product research to support recommendations |
Element: |
1. Interpret available information and conduct research |
Performance Criteria: |
1.1 Establish timelines to meet research deadlines 1.2 Identify relevant sources of information accurately and consistently, and source and retrieve required information readily and promptly 1.3 Constantly review sources of research information and documentation to ensure currency and accuracy 1.4 Prepare research findings that logically flow from interpretation of information available in detailed, clear and accurate format, and in timely manner |
Element: |
2. Analyse and review research findings and activities |
Performance Criteria: |
2.1 Carry out research activities and outcomes in accordance with organisational policy and guidelines, confidentiality requirements, and relevant legislation or industry codes of practice 2.2 Analyse and review research findings and activities to ensure accuracy and thoroughness 2.3 Review statutory disclosures to maintain consistency and compliance 2.4 Seek feedback regularly to monitor effectiveness and appropriateness of research activities |
Element: |
3. Document research and distribute to relevant parties |
Performance Criteria: |
3.1 Check research to ensure compliance with organisational policy and guidelines, and with relevant legislation or industry codes of practice, and ensure it is authorised before release 3.2 Distribute research to all relevant parties as required in timely manner 3.3 Obtain confirmation of receipt of research information where relevant to complete organisational records of compliance |
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
Induction Session
Prior to training commencement a program level induction session will be conducted that comprises the following:
- Program overview and requirements
- MyRMIT/Blackboard
- Overview of assessment requirements
- Pre-Training Review including:
- Recognition of Prior Learning and Credit Transfers
- Assessment of current skills and knowledge
- Competency/Grading Criteria
- Plagiarism
- Appeals
- Extensions
- Feedback
- Privacy
- Submission requirements
- Resubmission policy
- Where to get support
- Student responsibilities
The Teaching Schedule for this course is as follows but please note that it is subject to change.
Week No. |
Date Week Begins |
Topic: |
Activities and tasks |
1 |
04/07/16 |
Introduction to the course including:
|
Resources on Learning Hub
Topic 1 – Superannuation
Course Workbook – Conduct Research Analysis Chapter 1 – Overview of the Superannuation in Australia Chapter 2 – Structure & Operation of Superannuation Funds Chapter 3 – The Regulatory Framework Chapter 4 - Contributions to Superannuation Funds Chapter 5 – Withdrawals from Superannuation Chapter 9 – Self Managed Superannuation Funds
Web pages: http://www.superguide.com.au/comparing-super-funds/list-of-all-superannuation-funds https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/choosing-a-super-fund/types-of-super-funds https://www.ato.gov.au/Rates/Key-superannuation-rates-and-thresholds/?page=23 |
2 |
11/07/16 |
Superannuation: Part 1 – Superannuation, Part 2 - Regulating Superannuation Self –paced activities (Power points and Workbooks) |
Topic 1 - Superannuation
Course Workbook – Superannuation and Retirement Planning
Chapter 1 – Overview of the Superannuation in Australia Chapter 2 – Structure & Operation of Superannuation Funds Chapter 3 – The Regulatory Framework Chapter 4 - Contributions to Superannuation Funds Chapter 5 – Withdrawals from Superannuation Chapter 9 – Self Managed Superannuation Funds
Web pages: http://www.superguide.com.au/comparing-super-funds/list-of-all-superannuation-funds https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/choosing-a-super-fund/types-of-super-funds https://www.ato.gov.au/Rates/Key-superannuation-rates-and-thresholds/?page=23
|
3 |
18/07/16 |
Superannuation: Part 3 - Types of Funds, Part 4 - Superannuation and Retirement Preservation Standards Self –paced activities (Power points and Workbooks) |
Topic 1 - Superannuation
Course Workbook – Superannuation and Retirement Planning
Chapter 1 – Overview of the Superannuation in Australia Chapter 2 – Structure & Operation of Superannuation Funds Chapter 3 – The Regulatory Framework Chapter 4 - Contributions to Superannuation Funds Chapter 5 – Withdrawals from Superannuation Chapter 9 – Self Managed Superannuation Funds
Web pages: http://www.superguide.com.au/comparing-super-funds/list-of-all-superannuation-funds https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/choosing-a-super-fund/types-of-super-funds https://www.ato.gov.au/Rates/Key-superannuation-rates-and-thresholds/?page=23 |
4 |
25/07/16 |
Superannuation: Part 5 – Investing in Superannuation, Part 6 - Contributing to Superannuation Self –paced activities (Power points and Workbooks) |
Topic 1 - Superannuation
Course Workbook – Superannuation and Retirement Planning
Chapter 1 – Overview of the Superannuation in Australia Chapter 2 – Structure & Operation of Superannuation Funds Chapter 3 – The Regulatory Framework Chapter 4 - Contributions to Superannuation Funds Chapter 5 – Withdrawals from Superannuation Chapter 9 – Self Managed Superannuation Funds
Web pages: http://www.superguide.com.au/comparing-super-funds/list-of-all-superannuation-funds https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/choosing-a-super-fund/types-of-super-funds https://www.ato.gov.au/Rates/Key-superannuation-rates-and-thresholds/?page=23
|
5 |
01/08/16 |
Superannuation: Part 7 - What is a SMSF? Self –paced activities (Power points and Workbooks)
|
Topic 1 - Superannuation
Course Workbook – Superannuation and Retirement Planning
Chapter 1 – Overview of the Superannuation in Australia Chapter 2 – Structure & Operation of Superannuation Funds Chapter 3 – The Regulatory Framework Chapter 4 - Contributions to Superannuation Funds Chapter 5 – Withdrawals from Superannuation Chapter 9 – Self Managed Superannuation Funds
Web pages: http://www.superguide.com.au/comparing-super-funds/list-of-all-superannuation-funds https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/choosing-a-super-fund/types-of-super-funds https://www.ato.gov.au/Rates/Key-superannuation-rates-and-thresholds/?page=23
Task 1- Supervised Assessment |
6 |
8/08/16 |
Retirement: Part 1 – Introduction to Retirement, Part 2 - Superannuation Components Self –paced activities (Power points and Workbooks) |
Topic 2 – Retirement
Chapter 5 – Withdrawals from Superannuation Chapter 6 – Death Benefits and Estate and Retirement Planning Issues Chapter 7 – Payment of Superannuation Benefits as Income Stream
Web pages: file:///C:/Users/colbeckr/Downloads/Tax%20and%20super.pdf |
7 |
15/08/16 |
Retirement: Part 3 - Sources of Income Streams in Retirement Social Security: Part 1- Social Security Introduction |
Topic 2 – Retirement
Chapter 5 – Withdrawals from Superannuation Chapter 6 – Death Benefits and Estate and Retirement Planning Issues Chapter 7 – Payment of Superannuation Benefits as Income Stream
Web pages: file:///C:/Users/colbeckr/Downloads/Tax%20and%20super.pdf
|
Mid-Semester Break 29/08/16 – 4/9/2016 | |||
8 |
22/08/16 |
Social Security: Part 2 - Types of Pensions, Part 3 - Aged Care System Self –paced activities (Power points and Workbooks) |
Topic 3 – Social Security
Chapter 7 – Payment of Superannuation Benefits as Income Stream Chapter 8 – Social Security
Web pages: http://www.humanservices.gov.au/customer/dhs/centrelink
Task 2 – Check Point |
9 |
5/09/16 |
Client Research and Analysis: Part 1 – Client Research and Analysis – Introduction, Part 2 - The Financial Statements Self –paced activities (Power points and Workbooks) |
Topic 4 – Client Product Research and Analysis
Course Workbook – Financial Planning Chapter 1 – Introduction to Financial Planning Chapter 3 - Taxation Planning |
10 |
12/09/16 |
Client Research and Analysis: Part 3 – Use of Financial Information Statement Develop Strategies and Solutions: Part 1 – Develop Strategies and Solutions Introduction Self –paced activities (Power points and Workbooks) |
Topic 4 – Client Product Research and Analysis
Course Workbook – Financial Planning Chapter 1 – Introduction to Financial Planning Chapter 3 - Taxation Planning
Task 2 – Check Point |
11 |
19/09/16 |
Develop Strategies and Solutions: Part 2 – Current Financial Position, Part 3 - Developing strategies Self –paced activities (Power points and Workbooks) |
Topic 5 – Develop Strategies and Solutions
Course Workbook – Financial Planning Chapter 1 – Introduction to Financial Planning Chapter 4 – The Investment Planning Process
Course Workbook – Managing Client Relationships Chapter 3 - Identifying needs and collecting data |
12 |
26/09/16 |
Part 3 - Developing strategies Self –paced activities (Power points and Workbooks) |
Topic 5 – Develop Strategies and Solutions
Course Workbook – Financial Planning Chapter 1 – Introduction to Financial Planning Chapter 4 – The Investment Planning Process
Course Workbook – Managing Client Relationships Chapter 3 - Identifying needs and collecting data Task 2 – Check Point |
13 |
03/10/16 |
Develop Strategies and Solutions: Part 4 – Selecting Products Self –paced activities (Power points and Workbooks) |
Topic 5 – Develop Strategies and Solutions
Course Workbook – Financial Planning Chapter 1 – Introduction to Financial Planning Chapter 4 – The Investment Planning Process
Course Workbook – Managing Client Relationships Chapter 3 - Identifying needs and collecting data
Task 2- Simulated Workplace Project |
14 |
10/10/16 |
Develop Strategies and Solutions: Part 4 – Selecting Products Self –paced activities (Power points and Workbooks) |
Topic 5 – Develop Strategies and Solutions
Course Workbook – Financial Planning Chapter 1 – Introduction to Financial Planning Chapter 4 – The Investment Planning Process
Course Workbook – Managing Client Relationships Chapter 3 - Identifying needs and collecting data |
15 |
17/10/16 |
Revision |
Task 3 – Supervised Assessment |
16 |
24/10/16 |
Revision Feedback for Task 2 |
Revision – Course Workbook Summaries |
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.
Learning Resources
Prescribed Texts
References
Other Resources
Online learning materials can be accessed by going into the RMIT web sites Online Learning Hub.
The online learning materials listed include:
- Course outlines
- Power point Presentations
- Course Workbooks
- Supporting Reading material
- Industry relevant articles
- Activities
Overview of Assessment
In order to achieve competency in this unit, you must provide:
Performance Evidence
Evidence of the ability to:
- establish and meet required research deadlines
- accurately interpret and comply with relevant legislative requirements
- access and interpret available information accurately and comprehensively
- comply with statutory disclosure requirements
- document research findings concisely and clearly for distribution purposes.
Knowledge Evidence
To complete the unit requirements safely and effectively, you must:
- identify sources and parties that provide relevant information for research on financial products
- describe the current economic climate and forecasted outlook for relevant financial products
- explain financial forecasting techniques and tools to be used to assess the market for financial products
- identify and outline local and international financial markets and investment outlook for financial products
- describe organisational policy, procedures and requirements relevant to products and research
- identify and describe key features of industry legislation and codes of practice relevant to product research, and protocols to be followed
- describe techniques and tools for evaluation and interpretation of research data.
Assessment conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the industry capability field and include access to:
- common office equipment, technology, software and consumables
- financial services product information.
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.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.
Assessment Tasks
Overview of Assessment
This course is co-delivered and co-assessed with the following competencies:
FNSFPL502 Conduct financial analysis and research
FNSASICU503 Provide advice in superannuation
Critical Aspects of assessment are described above in the performance evidence for this course.
The assessments for this course have been designed to allow participants apply their learning to particular simulated work scenarios and demonstrate their competence in a variety of ways.
Task 1 - Supervised Assessment (Week 5)
For this Assessment Task you are required to demonstrate your knowledge by completing an open book in class supervised assessment comprised of a series of multiple choice questions on Superannuation Parts 1 to 6
The assessment comprises 25 multiple-choice theory style questions. The purpose of this task is to assess your understanding of the concepts and issues included in the topics from weeks 2 to 4. The duration of the assessment is one hour. This assessment will take place during your normal scheduled class time.
Task 2 – Simulated Workplace Project (Due Date: Week 13)
The assessment will be in the form of a written presentation.
The purpose of the assessment is to enable you to demonstrate a breadth of understanding across all of the course material at an independent level. It assesses the knowledge you have obtained through undertaking the topic, your communication skills in presenting that knowledge and your problem-solving skills in answering the questions posed.
The assessment will be available on Blackboard in Week 3 and your teacher will provide you with guidance. You will have the opportunity to seek advice from your teacher on a number of check points throughout the semester.
TASK 3 - Supervised Assessment (Week 15)
For this Assessment Task you are required to demonstrate your knowledge by completing an open book in class supervised assessment comprised of a series of theoretical and practical questions including short answer and a mini case study. The purpose of this task is to assess your understanding of the concepts and issues included in the topics from this course. This assessment will take place during your normal scheduled class time.
You must successfully complete all assessment tasks to achieve competency.
Assessment Matrix
Assessment Task |
Grading |
Due Date |
Assessment Task 1 – In-class assessment |
Grading will be applied once you have been deemed competent in the course. |
Week 5 |
Assessment Task 2 – Project |
Grading will be applied once you have been deemed competent in the course. |
Week 13 |
Assessment Task 3 – In- class assessment |
Grading will be applied once you have been deemed competent in the course. |
Week 15 |
Assessment Tasks |
FNSFPL502 - Conduct financial planning analysis and research |
FNSINC501 Conduct product research to support recommendations |
FNSASICU503 -Provide advice in superannuation |
BSBITU402 -Develop and use complex spreadsheets |
Assessment Task 1 – In-class assessment |
|
|
X |
|
Assessment Task 2 – Project |
X |
X |
X |
X |
Assessment Task 3 – In- class assessment |
X |
X |
X |
|
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, Callie Harvey, 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. <check links are still current>
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. <check links are still current>
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: <check link is still current>
More Information: 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