Course Title: Provide advice in Derivatives
Part B: Course Detail
Teaching Period: Term1 2014
Course Code: BAFI5202C
Course Title: Provide advice in Derivatives
School: 650T TAFE Business
Campus: City Campus
Program: C5317 - Diploma of Financial Planning
Course Contact : Sam Tabit
Course Contact Phone: +61 3 99254166
Course Contact Email:sam.tabit@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Michael Elliot
michael.elliot@rmit.edu.au
9925 5519
Sam Tabit
sam.tabit@rmit.edu.au
9925 4166
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
Pre-requisites to this course:
FNSFMK502A - Analyse financial market products for client
FNSFMK503A - Advise clients on financial risk
FNSCUS505A - Determine client requirements and expectations
FNSCUS506A - Record and implement client instructions
There are no co-requisites to this course.
Course Description
This unit describes the performance outcomes, skills and knowledge required to satisfy the training requirements of current Australian Securities and Investments Commission (ASIC) Australian Financial Services (AFS) licensing at Tier 1 level in the Derivatives specialist area.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSASICV503A Provide advice in Derivatives |
Element: |
4. Agree the plan, policy or transaction and complete documentation |
Performance Criteria: |
4.1. The client's formal agreement to the proposed plan, policy or transaction is gained |
Element: |
5. Provide ongoing service where requested by client |
Performance Criteria: |
5.1. Type and form of ongoing service including reporting on performance and review of plan, policy or transaction is agreed with the client |
Element: |
1 Establish relationship with client and identify client's objectives, needs and financial situation |
Performance Criteria: |
1.1. The financial products and services knowledge level of the client is established |
Element: |
2. Analyse client's objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions |
Performance Criteria: |
2.1.An assessment of client's needs is undertaken, utilising all information gathered and taking |
Element: |
3.Present appropriate strategies and solutions to client and negotiate a financial plan, policy or transaction. |
Performance Criteria: |
3.1.Product knowledge appropriate for the service or product offered is demonstrated |
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 via Blackboard and access to and use of the internet to collect, analyse and use information on a range of financial products and financial organizations.
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.
You are expected to participate and contribute in all scheduled learning activities including completion of tutorial exercises consisting of practical problems, short answer questions, multiple choice, case studies and extension exercises.
Teaching Schedule
Week | Week Commencing | Topics | Assessment |
1 | 10th Feb 2014 | • Course requirements • Course support documents • Blackboard • Overview of assessment requirements including Recognition of Prior Learning and Credit Transfers • Grading • Plagiarism • Appeals • Extensions • Feedback • Privacy • Submission requirements • Resubmission policy • Where to get support • Student responsibilities • Introduction to Topic 1 |
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2 | 17th Feb 2014 |
Topic 1 The investment setting Students to register in ASX Share market game |
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3 | 24th Feb 2014 | Topic 2 Securities • operation of Securities markets including: • market participants • roles played by intermediaries • range of securities • associated risks • investment options using securities product |
Assessment task 1 distributed to students. |
4 | 3rd Mar 2014 | Topic 2 Securities • operation of Securities markets including: • market participants • roles played by intermediaries • range of securities • associated risks • investment options using securities product |
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5 | 10th Mar 2014 | Topic 2 Securities |
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6 | 17th Mar 2014 | Topic 2 Securities • taxation issues in relation to Derivatives • advisory functions • regulator guidelines including the requirements of ASIC |
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7 | 24th Mar 2014 | Revision for week 8 assessment task 2 |
|
8 |
31st Mar 2014 |
Assessment task 2 | Assessment Task 2 You will receive the feedback in week 11. If required, resubmission for this assessment is due by the end of week 16. |
9 | 7th Apr 2014 | Topic 3 Managed Investments |
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10 | 14th Apr 2014 | Topic 3 Managed Investments • concept of Managed Investments • specialist knowledge of the range of products offered under Managed Investments schemes, or a specific product offered under a scheme: |
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21st Apr 2014 | MID-SEMESTER BREAK (18th Apr- 27th Apr 2014) |
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11 | 28th Apr 2014 | Topic 3 Managed Investments • property trusts, real estate investment strategies, valuation techniques, property management • equity trusts, fixed interest trusts • serviced strata schemes • primary production schemes • film schemes • time-sharing schemes |
Assessment 2 feedback |
12 | 5th May 2014 | Topic 3 Managed Investments • taxation issues in relation to Managed funds • advisory functions • regulator guidelines including the requirements of ASIC |
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13 | 12thMay 2014 | Topic 4 Derivatives • the concept of a financial product • general definition • types of financial investment products • investment options using securities products • associated risks |
Assessment Task 1 Due You will receive the feedback in week 16. If required, resubmission for this assessment is due by the end of week 16. |
14 | 19th May 2014 | Topic 4 Derivatives • taxation issues in relation to Derivatives • advisory functions • regulator guidelines including the requirements of ASIC |
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15 | 26th May 2014 | Assessment task 3 |
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16 | 2nd Jun 2014 | Feedback Assessment 1 & 3 | Assessment 1 feedback |
17 | 9th Jun 2014 | Re-submissions if required and feedback of Assessments |
Learning Resources
Prescribed Texts
none |
References
Other Resources
Learning support materials are made available on the Online Learning Hub from myRMIT
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
Overview of Assessment
Students must demonstrate an understanding of all elements of competency to be deemed competent.
A range of assessment methods are used to assess practical skills and knowledge. Assessment may incorporate a variety of methods including written tests, a group assignment and final assessment.
Tests are closed book and consist of multiple choice, practical exercises and short answer questions.
The group assignment requires students to research the role and function of a financial institution or a major contemporary issue relating to the financial system and of concern to consumers.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.
Critical aspects of assessment
Evidence of the following is essential
• interpret and comply with industry regulations and codes of practice
• analyse client’s needs and advise them ethically and accurately on managed investment products and services
• assess the impacts of taxation on client’s financial requirements for specific products offered.
This unit is co-assessed with
FNSASICW503A Provide advice in Securities
FNSASICV503A Provide advice in Derivatives
FNSASICT503A Provide Advice in Managed Investments
Assessment Tasks
You are required to complete 3 tasks. You must successfully complete all 3 tasks to be deemed competent in this unit.
TASK 1 (Due Date: End of Week 13)
An assignment involving case studies. This is an integrated activity which combines the elements of competency of securities, managed investments and derivatives.
To be deemed competent in this task you must prepare reports that include the following
• Identifying client’s objectives and risk profile
• Develop appropriate strategies
• use of market information and data is in accordance with the relevant legal and ethical constraints
• Clearly stating goals, objectives, plans, systems and processes and documentation of plan
• interpret and comply with industry regulations and codes of practice
The assignment with the cover sheet must be uploaded to RMIT’s blackboard shell under Turnitin link. Students may hand a hard copy it to their lecturer or tutor. Students are advised to retain a copy of their assignment.
TASK 2 (Due Date: End of week 8)
This assessment is an in-class closed book test. This task comprises of multiple choice and problem solving questions. In this Assessment Task you are required to identify a range of securities and associated risks, managed fund. You are also required to demonstrate security investment strategies.
To be deemed competent in this task you must cover the following:
• concept of securities financial products
• operations within securities market
• taxation issues
• participants in the advisory services market
• concept of managed investments
TASK 3 (Due Date: End of Week 15)
This assessment is an in-class closed book test. This assessment task comprises of multiple choice and problem solving questions In this Assessment Task you are required to identify a range of derivatives, range of managed funds and associated risks. You are also required to demonstrate derivatives investment strategies.
To be deemed competent in this task you must cover the following:
• specialist knowledge of the range of products offered under Managed Investments schemes, or a specific product offered under a scheme:
• property trusts, real estate investment strategies, valuation techniques, property management
• equity trusts, fixed interest trusts
• concept of derivatives financial products
• operations within derivatives market
• taxation issues within
Submission Requirements
You should:
• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• 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 work for assessment 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, My-name, 324567, Task 2, ACCT 5239C Analyse financial markets and information, Page 1 of 10.
Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.
You need to demonstrate you are competent in each element of the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.
Please refer to the Final Grades table below.
Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.
The grading is according to the following criteria:
• LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK
You are required to demonstrate a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your access of information required for the assessments tasks, accuracy and quality of information presented to peers and appropriate recommendation using the information you have access, analysed and presented.
• DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING
You need to show a depth of understanding of the key concepts and knowledge of the financial market data and asset classes covered in the assessment tasks, including stocks, bonds, managed funds and derivatives.
• TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
Demonstration of appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. This requires use of ASX website and financial institution web sites to access market and financial data. You will be also required to apply statistical techniques and make elementary probability calculations using EXCEL and calculators.
• WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
You must complete all work requirements as per course requirements and timely submission of all required assessment tasks. You need to collate market data and organize it in a presentable format that meets the requirements of the assessment tasks.
• COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
You are required to work in groups to complete assessment task 3. Communication skills and teamwork is required to collaboratively complete this task. Additionally you need to disseminate accurate market information within groups.
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.
Assessment Matrix
Course Overview: Access Course Overview