Course Outline (Undergraduate):

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1 Course Outline (Undergraduate): Course Title Introduction to Financial Planning Course Code FIN210 Faculty of Business Semester 1, 2007 DISABILITY AND LEARNING SUPPORT SERVICES The University offers a range of services and supports for students with a disability and it is important that these are negotiated early in the semester. Students who require alternative arrangements such as Special Exam Arrangements and assessment or study support should discuss their needs with the Disability Services Officer and/or the Course Coordinator as soon as possible. The university offers a range of academic skills services to assist students with the development of writing and study skills. s on topics such as critical thinking, clearer writing and essay writing are held most weeks throughout the semester. Learning fact sheets are also readily available on the intranet ( Students can also make an appointment with an academic skills adviser at Student Services for one-on-one assistance with study and academic writing skills.

2 Course Outline (Undergraduate): FIN210 Introduction to Financial Planning Page 2 FIELD OF EDUCATION FUNDING CLUSTER 2 WORK EXPERIENCE IN INDUSTRY Indicate whether this course involves work experience in industry by ticking () one of the following boxes: This course involves work experience in industry. This course does not involve work experience in industry. If the course involves work experience in industry, indicate the basis on which this occurs by ticking () one of the following boxes: Learning and performance is directed by USC or persons engaged by USC. Learning and performance is supported by USC or persons engaged by USC. No support is provided for learning and performance by USC or persons engaged by USC. PROGRAM(S) Bachelor of Business Bachelor of Business (Financial Planning) MAJORS AND MINORS Financial Planning Major Financial Planning Minor REQUIRED COURSE IN PROGRAM Bachelor of Business (Financial Planning) CONTACT HOURS : 3 Hours per week PRE-REQUISITES Nil MODE Internal: Students who undertake all courses in which they are enrolled through attendance on campus, either in Australia or at an offshore location. UNITS 12 credit points ENROLMENT RESTRICTIONS Nil

3 Course Outline (Undergraduate): FIN210 Introduction to Financial Planning Page 3 COURSE COORDINATOR Ms Gennie Wilson Office: K1.06 Telephone: (07) GWilson1@usc.edu.au Consultation Times: Thursdays and Fridays by appointment only COURSE MODERATOR Dr John Teale Office: K1.43 Telephone: JTeale@usc.edu.au Consultation Times: By appointment only COURSE DESCRIPTION TO BE USED FOR STUDENT HANDBOOK This course examines the financial planning process. The material that is presented each week is included as part of this financial planning process. Topics include the regulation of the financial planning profession and decisions on investments, superannuation, taxation, insurance and risk management, estate planning and social security. Each of these topics could be the basis of a whole course or several courses. Other courses in the Bachelor of Business (Financial Planning) expand on the material covered in this course and provide much greater detail and depth. This course does not endeavour to produce experts in all these aspects of financial advising as the purpose is to explain and examine the process. LEARNING OUTCOMES USC Graduate Attributes To understand To have relevant, disciplinebased knowledge, skills and values To be able to apply and evaluate knowledge To think To value and respect reason To be able to reason competently To communicate To speak, listen and write competently To be competent users of information and communication technologies To value To have self-respect and a sense of personal agency To have a sense of personal and social responsibility To understand and apply ethical professional practices Learning Objectives On completion of this course students should be able to: Acquire relevant disciplined based knowledge on investments, insurance, taxation, estate planning and superannuation in order to understand the decisions facing clients. Appreciate the effect of current reforms and legislative changes on financial and investment decisions and be thoughtful as to the effect these changes have on client outcomes. Identify with the components of the financial and investment planning process and apply this process to effectively preparing financial plans and communicating strategies to clients. Discuss the impact of professional responsibilities and regulatory requirements on the financial planning process and identify the need to involve other professionals such as solicitors and accountants in the planning process. Learning/Assessment Tasks (eg. essay; project) Case study: client data collection and risk profiling issues Case study report Examination

4 Course Outline (Undergraduate): FIN210 Introduction to Financial Planning Page 4 LEARNING/ASSESSMENT DETAILS Learning/Assessment Tasks List of learning/assessment tasks to be completed by students including essays, exams, assignments, research projects, tests etc. 1. In class interview, submission of four handouts on client data collection and risk profiles and essay Submission via Hard Copy Safe Assignment essay only Due Date 4.30pm 2 April 2. Part A - Report 4.30pm 25 May 2. Part B Strategy Presentation In class week Examination Examination period early June Word Length Assessment Weighting % words + 4 data handouts % words 15 mins 5% N/A 40% Safe Assignment is used by universities for preventing plagiarism and ensuring that all students are fairly assessed on their own learning achievements. Learning/Assessment Tasks ticked above in the Safe Assignment column are to be submitted electronically to Safe Assignment via Blackboard. LEARNING/ASSESSMENT TASKS Learning/Assessment Task 1: Interview; Form completion; Essay Due: Monday 2 April Weight: 20% Length: 500 word essay plus submission of four data handouts Description This task requires completion of client questionnaires and risk profiling exercises in order to meet Corporations Act requirements of knowing your client. This is based on a partially completed case study that will be made available to you. An opportunity will be created in the form of a simulated client interview in order to assess the skill requirements of ASIC Policy Statement PS146. An essay is also required on the following topic: Critically discuss if the gathering of client data is necessary to the financial planning process Assessment criteria In-class interview to be assessed by client and marks reviewed by co-ordinator. 5% Submission of four fully completed data forms accurately reflecting client data and risks. 5% Essay completed to the standard in Summers and Smith (2006). 10% Submitting essays and four data handouts Hand in a hard copy, typed in word-for-windows. To avoid disagreements, always keep an electronic copy as a backup, in case your essay is misplaced. Penalties Interviewee assessments will be marked to zero (for both client and adviser) where any collaboration or inappropriate marking is observed. Late assignments will be penalised at 20% of the assigned mark per working day late and will include assignments submitted after 4.30pm on the stated due date. Incomplete cover sheets, incorrect layout and presentation of the essay will incur deductions.

5 Course Outline (Undergraduate): FIN210 Introduction to Financial Planning Page 5 Learning/Assessment Task 2: Client presentation; Report Due: Friday 25 May Weight: 40% Length: 2,000 words Description This task requires the presentation of a financial planning strategy based on the case study that you received in task 1. An opportunity will be available to present aspects of the strategy in a face to face client\ adviser situation in order to develop and assess strategy presentation skills. This will occur towards the end of the semester. The task will also involve the development of a written strategy in report format. Assessment criteria In-class presentation to be assessed by client and marks reviewed by co-ordinator. 5% Report completed to standard in Summers and Smith (2006). 35% Submitting report The report is to be submitted via Safe Assignment as well as in hard copy. Hand in a hard copy, typed in word-for-windows. To avoid disagreements, always keep an electronic copy as a backup, in case your report is misplaced. Penalties Interviewee assessments will be marked to zero (for both client and adviser) where any collaboration or inappropriate marking is observed. Late assignments will be penalised at 20% of the assigned mark per working day late and will include assignments submitted after 4.30pm on the stated due date. Incomplete cover sheets, incorrect layout and presentation of the report will incur deductions. Learning/Assessment Task 3: Examination of all topics Due: Examination period at end of semester (Early June - Date TBA) Weight: 40% Length: 3 hours Description A three-hour exam worth 40% of overall marks for this Course will be held during the exam period. The closed book exam will consist of multiple choice questions on all content addressed throughout the course. Additional information will be provided in the final lecture. Assessment criteria: Marks for this Learning / Assessment Task will be allocated on the basis of relevance and completeness of answer. The maximum marks for each question will be included in the exam paper. ANY ADDITIONAL ASSESSMENT REQUIREMENTS To achieve a pass in this course, students must: 1. Perform satisfactorily in all items of assessment; 2. Achieve at least a Pass level in the exam; 3. Achieve at least a Pass level overall; and 4. Submit specified assessment items via Safe Assignment.

6 Course Outline (Undergraduate): FIN210 Introduction to Financial Planning Page 6 COURSE SCHEDULE Chapters from the prescribed text are to be read in advance of each workshop. Questions, exercises and activities (as shown in the Learning/Teaching Activities column) are discussed during that teaching week. Students are to prepare answers ready for discussion. Week Commencing Teaching Week Content Focus of Week 19 February 1 The financial planning profession and personal finance Learning/Teaching Activities Intro Lecture and 26 February 2 Personal financial decisions * PAQ: 2.1, 2.4 and 2.6 * PAE: 3.1 and March & 12 March 19 March (Census Week) 3 & 4 Home ownership, Gearing, Consumer Credit and Investment decisions 5 Gathering and presenting financial strategies PAQ: 8.5, 8.6, 10.5 and 11.1 PAE: 8.1 and 10.4 PAQ: 15.1, 15.2 & 15.7 PAE: 15.1 Resources Ch. 1 and 2 Ch. 3 Ch. 8, 10 and 11 Ch March 6 Gathering client data Practical Assignment 1 due 2 April 2 April 7# Investments PAQ: 5.1 PAE: 5.1 Ch. 5 9 April Mid Semester Break 16 April 8 Managed funds and Analysis of investment 23 April & 30 April 9 & 10 Superannuation and Taxation consequences in investment decisions 7 May 11 Managing risk and protecting your assets PAQ: 6.1 and 7.1 PAE: 6.1 Activity Sheet: New Contribution Rules New Payment Rules New Pension Rules PAQ: 9.3 PAE: 9.4 Ch. 6 and 7 Ch. 4 and 12 (Note updates to Chapters 4 & 12 Ch May 12 Presentation of strategy Practical Assignment 2 due 25 May 21 May 13 An introduction to estate planning and social security issues 29 May 30 th May Study Break 31 st May 17 Jun Exams Activity Sheet: Age Pension changes Super Death Benefits 18 Jun 15 July Inter Semester Break commences Ch. 13 and 14 (Note updates to Chapter 13) Legend * PAQ = Professional Application Questions (end of chapter) * PAE = Professional Application Exercises (end of chapter) # Note changes to class venue and time for Class 1076 in teaching week 7. The new Class Timetable is shown over the page.

7 Course Outline (Undergraduate): FIN210 Introduction to Financial Planning Page 7 CLASS TIMETABLE Class Number Activity day In Room Starting at Ending at 1075 Thursday LT pm 6.00 pm 1076 Friday LT am noon 1076 Substitute PRESCRIBED TEXT(S) As Good Friday (6 th April) is a Public Holiday, a substitute workshop will be run on Thursday 5 th April LT am 2.00 pm Beal, D. & McKeown, W. 2006, Personal Finance, Third Edition, John Wiley and Sons, Brisbane, Qld ISBN X. This Australian text is essential reading. At the end of most chapters in Beal & McKeown (2006) is an extensive range of further reading that you may find useful as an additional source of information for assignment preparation. Due to the recent legislative changes, Beal & McKeown have released updates, which form part of the prescribed text and are essential reading. The updates to Beal & McKeown Personal Finance 3e are available for download on the book's website - no password required. The UR is: There are also practice tests and a word game here - again no password required. Summers, J & Smith, B 2006, Communication Skills Handbook: how to succeed in written and oral communication, 2 nd edn, John Wiley & Sons, Brisbane, Qld. An earlier edition of this text is acceptable. This handbook is essential for completing assignments. Deductions apply to work that is incorrectly presented. RECOMMENDED READINGS 2006/2007 Australian Master Financial Planning Guide, 9 th edn, CCH. This reference work is revised each year. You would find an earlier version useful as a reference. You are not expected to purchase this text. WWW sites Note the extensive range of websites listed in the appendix of your text Personal Finance. The list starts on page 495 of the text. You may find these useful for assignment preparation. In particular note the ASIC, APRA, ATO and FPA sites. RESOURCES Calculator a good financial or business calculator is necessary during the course. Using a Sharp EL-735 (preferred) or a Casio FC-100 calculator is sufficient. Please ensure you read the instructions and undertake the various exercises in the calculator s instruction manual and during the course. That approach will enhance competence in quickly calculating outcomes for analysis.

8 Course Outline (Undergraduate): FIN210 Introduction to Financial Planning Page 8 ASSESSMENT CONDITIONS (Faculty of Business Undergraduate Standard) Faculty of Business guidelines and information relating to the administration of courses are located on the Student Intranet as follows: Student Assessment Items - Guidelines sment_items_guidelines.doc Faculty of Business Assessment Item Cover Sheet em_cover_sheet.doc. Do not make up your own assessment item cover sheet. Variations to Assessment - Guidelines Assessment_Guidelines.doc Plagiarism Where specified in the Learning/Assessment Details, submit assessment items through Safe Assignment via Blackboard: Brief step-by-step instructions at: Hard copies of the above guidelines and information are also available from the Faculty of Business Reception and Administration Office. Grade Levels Grades shall be awarded on the following basis: HIGH DISTINCTION where a student achieves an exceptionally high level of performance and / or competence plus the production of original work and demonstrated awareness of all significant elements of the course. DISTINCTION CREDIT PASS FAIL where a student achieves a high level of performance and / or competence plus the production of original work and demonstrated awareness of all significant elements of the course. where a student achieves a level of performance and / or competence substantially above the minimum requirements of the course. where a student achieves a level of performance and / or competence which satisfies the minimum requirements of the course. where a student has not satisfied the minimum requirements of the course.