Course Title: Comply with financial planning practice ethical and operational guidelines and regulations
Part B: Course Detail
Teaching Period: Term1 2009
Course Code: BAFI5144C
Course Title: Comply with financial planning practice ethical and operational guidelines and regulations
School: 650T TAFE Business
Campus: City Campus
Program: C5205 - Diploma of Financial Services
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
Course Co-ordinator
Tel: 61 3 9925 5519
Email: michael.elliot@rmit.edu
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.
If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSFPLN501B Comply with financial planning practice ethical and operational guidelines and regulations |
Element: |
FNSFPLN501B/01 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: |
FNSFPLN501B/02 Apply standards of ethical behaviour |
Performance Criteria: |
· Standards of ethical behaviours are identified from training, peers, industry codes of practice and organisation guidelines |
Element: |
FNSFPLN501B/03 Identify and comply with industry codes of practice |
Performance Criteria: |
· Industry codes of practice are identified and applied to own work |
Element: |
FNSFPLN501B/04 Identify and comply with organisational operation guidelines |
Performance Criteria: |
· Operation guidelines are identified and applied to own work |
Learning Outcomes
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 – 9 Feb | Review of Financial Services Industry | An overview of the financial services industry and the economic environment in with it operates. |
Week 2 – 16 Feb | Review of Financial Services Industry | An overview of the financial services industry and the economic environment in with it operates. |
Week 3 – 23 Feb | Review of Financial Services Industry | An overview of the financial services industry and the economic environment in with it operates. |
Week 4 – 2 Mar | Test on Financial Services Industry | Test. |
Week 5 – 9 Mar | Superannuation. | Overview of the Superannuation Industry in Australia. |
Week 6 – 16 Mar | Superannuation. | The Regulatory Framework for Superannuation in Australia |
Week 7 – 23 Mar | Superannuation | Contributions to and withdrawals from superannuation funds |
Week 8 – 30 Mar | Superannuation | Self managed Superannuation Funds |
Week 9 - 6 April | Test on Superannuation | Test |
Easter Break (9th to 15 April inclusive) | ||
Week 9 – 13 April | Test on Superannuation | Test |
Week 10 – 20 April | Managed Investments | Overview of Managed Investments |
Week 11 – 27 April | Managed Investments | The Regulatory Framework for Managed Investments |
Week 12 – 4 May | Managed Investments | Investment strategies |
Week 13 – 11 May | Test on Managed Investments | Test |
Week 14 – 18 May | Financial Planning | Financial Planning strategies |
Week 15 – 25 May | Financial Planning | Statement of Advice |
Week 16 – 1 June | Test on Financial Planning Industry | Test |
Week 17 – 8 June | Feedback on assessment |
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.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.
Assessment Tasks
The assessment will consist of:
1. A series of Tests comprising multiple choice and strcutured short answer questions. These assess each performance element.
Assessment weighting for this course takes the following form:
Test 1 – Financial Services Industry 20%
Test 2 – Superannuation 25%
Test 3 – Managed Investments 25%
Test 4 – Financial Planning 30%
Students are assessed against all the performance elements of the course and must demonstrate an understanding of all elements to be deemed competent. To receive a pass for this course a student must also achieve 50% overall.
Assessment Matrix
Test 1 | Test 2 | Test 3 | Test 4 | |
Identify and comply with legislative and regulatory requirements | Y | Y | Y | Y |
Apply standards of ethical behaviour | Y | Y | Y | Y |
Identify and comply with industry codes of practice | Y | Y | Y | Y |
Identify and comply with organisational operational guidelines |
Y | Y | Y | Y |
Course Overview: Access Course Overview