FIN1106 Personal Financial Planning

Subject Cat-nbr Class Term Mode Description Units Campus
FIN 1106 86091 1, 2009 ONC Personal Financial Planning 1.00 Toowoomba

Academic group: FOBUS
Academic org: FOB008
Student contribution band: 3A
ASCED code: 081101


Contents



STAFFING

Examiner: Lujer Santacruz
Moderator: Boyd Scheuber



OTHER REQUISITES

Students are required to have access to a personal computer, e-mail capabilities and Internet access to USQConnect. Current details of computer requirements can be found at <http://www.usq.edu.au/ict/students/standards/default.htm>.



RATIONALE

Personal financial planning, or the development and implementation of total coordinated plans for the achievement of one's overall financial objectives, is becoming more and more important both to individuals and professionals offering their services. Governments are emphasising self-reliance among individuals, so long-term financial well-being is everyone's responsibility. Individuals will have more comfortable lives if they plan and manage their finances skilfully. From being provided by a multitude of different professionals, advising in the area of personal financial planning has developed into a discrete discipline that requires formal training. Personal financial planning has also become an integral part of the business of financial product providers (for example, banks, insurance companies) and financial service providers (for example, accountants).




SYNOPSIS

In this course, students will be exposed to the personal financial planning environment and process. The environment covers the regulatory framework within which financial planners operate as well as their responsibilities. The process covers the various components of personal financial planning (for example, taxation, investments, credit, superannuation and retirement, insurance, social security and estate planning). These concepts are integrated through the study of financial plan construction and the actual preparation of a financial plan. Taxation Law, Managed Investments, Superannuation and Retirement Planning and Insurance Markets and Products are offered in specific courses if students wish to pursue those issues in more detail.




OBJECTIVES

On successful completion of this course, students should be able to:

1.
describe an overview of the personal financial planning profession
2.
discuss the regulatory framework within which financial planners operate as well as their responsibilities
3.
apply relevant financial reporting, taxation and mathematical concepts useful in personal financial planning
4.
compare the various direct investment vehicles available to Australian investors
5.
explain the role and scope of managed funds in personal investing
6.
explain the various types of loans and credit and the issues relating to home ownership
7.
discuss the operation of superannuation and retirement planning in Australia
8.
discuss personal insurance protection
9.
discuss general insurance protection
10.
discuss how the social security system operates in Australia and the various benefits available
11.
identify estate planning and asset protection issues that apply in Australia
12.
apply the process of obtaining information from clients and preparing financial plans for them and in so doing, demonstrate both the information literacy and communication skills required of a financial planner.



TOPICS


Description Weighting (%)
1. Overview of the financial planning profession
5.00
2. Compliance and ethics
10.00
3. Financial reports and taxation
10.00
4. Direct investments
10.00
5. Managed funds
5.00
6. Credit and home ownership
10.00
7. Superannuation and retirement planning
10.00
8. Financial plan construction
10.00
9. Personal insurance
5.00
10. General insurance
5.00
11. Social security
10.00
12. Estate planning
10.00


TEXT and MATERIALS required to be PURCHASED or accessed

ALL textbooks and materials are available for purchase from USQ BOOKSHOP (unless otherwise stated). Orders may be placed via secure internet, free fax 1800642453, phone 07 46312742 (within Australia), or mail. Overseas students should fax +61 7 46311743, or phone +61 7 46312742. For costs, further details, and internet ordering, use the 'Textbook Search' facility at http://bookshop.usq.edu.au click 'Semester', then enter your 'Course Code' (no spaces).

FIN1106 study package available from the USQ Bookshop.

Taylor, S, Juchau, R, Houterman, B & McDonald, T 2008, Financial planning in Australia, 3rd edn, LexisNexis Butterworths, Chatswood, New South Wales.




REFERENCE MATERIALS

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.

Shirlow, D (ed) 2008, 2008/2009 Australian master financial planning guide, CCH Australia, North Ryde, New South Wales.




STUDENT WORKLOAD REQUIREMENTS

ACTIVITY HOURS
Assessments 25.00
Directed Study 50.00
Private Study 90.00



ASSESSMENT DETAILS

Description Marks out of Wtg(%) Due date Objectives assessed Graduate skill Level assessed Notes
ONLINE QUIZZES 100.00 10.00 02 Mar 2009 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 U3 1 (see note 1)
ASSIGNMENT 100.00 30.00 15 May 2009 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 U3, U4 1, 1  
EXAM A (MULTIPLE-CHOICE) 20.00 12.00 END S1 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 U3 1 (see note 2)
EXAM B (SHORT ANS/PRAC PROB) 80.00 48.00 END S1 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 U3 1  
NOTES
1.
These quizzes are to be administered throughout the semester and are to be completed online through the Study Desk. Refer to the Introductory Book for details.
2.
The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date for Exam (A and B) after the timetable has been finalised. The total working time for Exam (A and B) is 2 hours.


GRADUATE QUALITIES AND SKILLS

Elements of the following Graduate Skills are associated with the successful completion of this course.

Graduate skill assessed

Level assessed

Academic & Professional Literacy (Skill U3) Introductory (Level 1)
Written & Oral Communication (Skill U4) Introductory (Level 1)

IMPORTANT ASSESSMENT INFORMATION

  1. Attendance requirements:
    It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.
  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)
  3. Penalties for late submission of required work:
    If students submit assignments after the due date without prior approval of the examiner, then a penalty of 5% of the total marks gained by the student for the assignment may apply for each working day late up to ten working days at which time a mark of zero may be recorded.
  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.
  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.
  6. Examination information:
    This is a restricted examination. Candidates are allowed access to specific materials during the examination. The only materials that candidates may use in the restricted examination for this course are: writing and drawing instruments; calculators which cannot hold textual information (students must indicate on their examination paper the make and model of any calculator(s) they use during the examination); English translation dictionaries (but not technical dictionaries).
  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.
  8. University Regulations:
    Students should read USQ Regulations 5.1 Definitions, 5.6 Assessment, and 5.10 Student Academic Misconduct for further information and to avoid actions which might contravene university regulations. These regulations can be found at http://www.usq.edu.au/corporateservices/calendar/part5.htm. Students should also read the Faculty of Business Policies and Procedures which can be found at http://www.usq.edu.au/business/aboutfob.htm.

ASSESSMENT NOTES

1. Assignments: (i) The due date for an assignment is the date by which a student must submit the assignment to the USQ. (ii) Students must retain a copy of each item submitted for assessment. This must be produced within 24 hours if required by the examiner. (iii) In accordance with university policy, the examiner may grant an extension of the due date of an assignment in extenuating circumstances. If students submit assignments after the due date and wish to claim extenuating circumstances then they shall provide validated documentary evidence with the assignment, explaining the circumstances. The examiner shall consider the statement accompanying a late assignment and decide on the outcome. (iv) Assignments are to be submitted with the appropriate assignment cover. (v) The examiner will normally only accept assessments that have been written, typed or printed on paper-based media. (vi) The examiner will not accept submission of assignments by facsimile. (vii) In the event that a due date for an assignment falls on a local public holiday in their area, such as a show holiday, the due date for the assignment will be the next day. Students are to note on the assignment cover the date of the public holiday for the examiner's convenience.
2. Referencing in assignments: Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The USQ library provides advice on how to format information sources using this system. Details can be found at <http://www.usq.edu.au/library/help/ehelp/ref_guides/harvard.htm> and <http://www.usq.edu.au/library/help/ehelp/ref_guides/harvardonline.htm>.
3. Course weightings: Course weightings of topics should not be interpreted as applying to the number of marks allocated to questions testing those topics in an examination paper. The examination may test material already tested in assignments.
4. Deferred work: Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded: IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).
5. Dishonest actions: (i) Any student who is alleged to have performed a dishonest action relating to any assessment in the course will have a course of action taken against him/her as outlined in the academic regulations. (ii) Pieces of assessment should be the work of individual students. Joint pieces of assessment are not permitted unless written approval has been obtained from the examiner. (iii) Dishonest action in relation to assessment includes: copying or attempting to copy the work of others; use of or attempting to use information prohibited from use in that form of assessment; submitting the work of another as your own; consciously committing acts of plagiarism, that is, taking and using another's thoughts or writings as one's own with intent to deceive, which occurs when paragraphs, sentences, a single sentence or significant parts of a sentence which are copied directly, are not enclosed in quotation marks and appropriately footnoted or referenced in the text; direct quotations are not used, but text is paraphrased or summarised, and the source of the material is not acknowledged by footnoting or other reference in the text.

OTHER REQUIREMENTS

  1. Computer, e-mail and Internet access: Students are required to have access to a personal computer, e-mail capabilities and Internet access to USQConnect. Current details of computer requirements can be found at <http://www.usq.edu.au/ict/students/standards/default.htm>.


This version produced 11 Dec 2009.