FIN 502 Personal Financial Planning - Winter, 2010

Transcription

1 FIN 502 Personal Financial Planning - Winter, 2010 Class Times: Wednesday: 3:00 p.m. 6:00 p.m. Prerequisites: FIN 300 Professor: Michael Chung CFA, CMA Office: TRS Telephone: (ext. 2470) m7chung@ryerson.ca Office Hours: Monday 3:00pm - 5:00pm, Thursday 1:00pm 2:00pm Course Website: Course Description This course introduces a framework of basic principles and the financial planning techniques used in professional practice. Topics include setting goals and budgeting, family life cycle, taxation, insurance, managing credit and debt, home ownership and investment principles and types. Goals Upon completion of this course, students will be able to name and discuss the issues in financial planning and will be able to demonstrate this knowledge by being able to evaluate possible outcomes for various courses of actions. Objectives Upon successful completion of this course, students will be able to: Set realistic financial goals; Manage their own money so as to best achieve these goals. Understand how the basic principles apply to both themselves and others who are potential clients. Method of Evaluation Group Assignment 10 Two Term Tests 50 Final Exam 40 Total 100% The term tests and final exam are closed book with a one-page, 2-sided (8½ x 11) cheat sheet. Students must pass the combination of the term tests and final exam in order to pass the course although the final mark will include the assignment. A penalty of up to 10% will be assigned to any student who engages in behaviour that interferes with the learning environment in the classroom. Regulations concerning conduct during tests and exams are contained in the Code of Student Conduct and the Ryerson Calendar. Students who miss a term test will be given the grade of zero unless a doctor's note is provided, in which case a make-up tests will be given. Students who miss the final exam and provide a doctor's note will write the final exam at a later date. Page 1 of 7

2 Suggestions for Success Ensure that you keep up to date with the course material because the workload is substantial. You should expect to spend a minimum of 9 hours a week outside of class time. Work with other students in the course and try and assist each other in solving problems and discussing the issues raised in the course. If you do not understand some of the material covered in the course, it is your responsibility to ask questions in class ask your instructor. Review weekly the material covered in the course and identify any areas where you lack understanding. Reread and study the appropriate section of the text or supplementary material Methods of Posting Grades Tests and assignments will be given back in class one week after they are handed in. Course Management Every effort will be made to manage the course as stated. However, adjustments may be necessary at the discretion of the instructor. If so, students will be advised and alterations discussed in the class prior to implementation. Any change to the course schedule will also be posted on the course Blackboard site. Philosophy of Teaching Learning involves not only mastering the technical aspects (the definitions and facts) in order to be able to analyse and interpret information but also the ability to evaluate, construct an informed opinion and make appropriate recommendations. Communication by Me Using Blackboard Class notes, assignments and clarifications will be posted on Blackboard. You should check it regularly for updates. Communication by Students Using Ryerson (NOT Blackboard ) Student s will be returned within 48 hours from Monday to Friday. Ryerson is the best way to communicate personal information to me in the event of illness, a death in the family, etc. All students are expected to compose s in a professional manner. Messages using excessive internet abbreviations will not be answered. Short questions about course material can be handled by but, in general, these questions are better handled during class or office hours. It is not appropriate to use to ask about information such as test dates, format of tests and dues date that is provided on this course outline. Page 2 of 7

3 Lecture Wk #, Date Ch # FIN 502 Class Schedule Winter 2010 Chapter name Problems Introduction 1. Jan. 6 1 Introduction 20 Ethics for Personal Financial Planners 20: 4 Planning 2. Jan Time Value of Money 2: 1 to 6, 8, 9,12,16,17; h/o 1, 2 3 Setting Goals and the Financial Planning Process 3: 1 5, 7 3. Jan Measuring and Controlling Personal Finances 4: none 5 Family Law 5: 1, 2 6 The Life Cycle and Financial Intermediation 6: none Taxes and Planning 4. Jan Personal Income Tax 7: 1 3, 5 7, 10, h/o 1 5. Feb. 3 8 Income Tax Planning 8: 1, 2, Feb. 10 Term Test 1 on Ch 1 7, 20 Risk Management 7. Feb Risk Management 9: Life, Health and Disability Insurance 10: 1, 4 6, h/o 1 11 Property, Home and Automobile Insurance 11: 3, 4 8. Mar Credit and Debt Credit Management 12: March Term Test 2 on Ch Investments 10. Mar Buying a Home and Mortgage Financing 13: 1 7, 8, 9, 14, Mar Principles of Investment 14: 4, Mar Types of Investments 15: 1 5, 7, h/o 1 16 Mutual Funds 16: 1, 3, 4, 6, 7 Mar. 31 Group Assignment Due Retirement Overview only 13. Apr Planning for retirement 17 none 18 Retirement, Estate Planning 18 none Method of Instruction: This course will incorporate the following teaching/learning methods: A combination of lectures, discussion and problem solving. Students will be encouraged to think, analyze, evaluate, and problem-solve, not memorize. Students are expected to come to class on time and be prepared for the class, i.e., to have read the assigned readings and cases and to have done the assigned problems. A set of overheads for each chapter, answers to the end of chapter questions and other material will be available on Blackboard. You access Blackboard courses through a web browser. After starting your web browser, type Page 3 of 7

4 into the Address Bar. You can use Blackboard from anywhere that you have access to the Internet. Your Blackboard account Username and Password are the same as your Matrix account. If you experience trouble logging in look for the help page or if on campus see the advisors in room W71A. Course Materials: Personal Financial Planning, Fourth Edition, Ho and Robinson, Captus Press Inc., Required: A financial calculator. Required: Daily reading of The Globe and Mail or The National Post. Policies & Course Practices Course Repeats: Academic Council GPA policy prevents students from taking a course more than three times (i.e., registered initially, repeated once, repeated twice = three registrations). A student who has failed a course for the third time will be assigned an academic standing of Withdrawn, and may be ineligible to continue in the program. For complete GPA policy, see Policy #46 at Accounts Students are required to activate and maintain a Ryerson Matrix account which shall be the official means by which you will receive university communications. See Accommodation of Students with Disabilities In order to facilitate the academic success and access of students with disabilities, these students should register with the Access Centre Students using the Access Centre must submit documentation to the instructor prior to a graded assignment, test or exam, according to the Access Centre Policies and Procedures. For tests/midterm exams, it is the student s responsibility to book an upcoming test at least 7 days prior to the date of writing the test. For final exams, it is the student s responsibility to book an upcoming final exam at least 2 weeks prior to the beginning of the examination period. The student must confirm the date and time with the instructor. For complete details please refer to Accommodation for Religious Observance: Religious Observance requests are to be made formally within the first two weeks of class (see policy on Accommodation of Student Religious Observance Obligations and related form at Other valid reasons must be approved by the instructor in advance. Standard for Written Work Students are expected to use an acceptable standard of business communication for all assignments. You are encouraged to obtain assistance from the Writing Centre ( for help with your written communications as needed. (See the Ryerson Library for APA style guide references Page 4 of 7

5 Use of Turnitin All work submitted for this course must first be submitted to Students who do not want their work submitted to this plagiarism detection service must, by the end of the second week of class, consult with the instructor to make alternative arrangements. The instructor reserves the right to submit any work that is suspected to be plagiarized to at his or her discretion. Maintaining a Professional Learning Environment Laptop computers, cell phones, or other devices should not be used for non-classroom activities, as they are distracting to other students, speakers and your instructor. A student s final grade can be reduced by 10% for each violation of the above policy. Missed Term Work or Examinations: Exemption or deferral of a term test or final examination is not permitted except for a medical or personal emergency. The instructor must be notified by prior to the test and appropriate documentation submitted within one week of the missed test or exam. Failure to provide the documented support will result in a zero for that test or exam. Students must write the final exam. For absence on medical grounds, an official student medical certificate must be provided. This may be downloaded from the Ryerson website at Academic Integrity Students are required to adhere to all relevant University policies, such as the Student Code of Academic Conduct. University regulations concerning unacceptable academic conduct (cheating, plagiarism, impersonation, etc.) will be followed. See the Ryerson University calendar or online versions at and and for more explanation. Plagiarism is a serious academic offence and penalties range from zero in an assignment all the way to expulsion from the university. Students should review the guidelines regarding academic misconduct - visit the Academic Integrity website for more information They should ensure that they understand the conventions for referencing sources, in footnotes and bibliographies. In addition to citing quotations from all sources, whether from written materials, interviews or electronic networks, students must credit with footnotes or in-text references all facts and ideas that are not their own, EVEN IF THEY ARE IN YOUR OWN WORDS. If you do not, it is considered plagiarism. In any academic exercise, plagiarism occurs when one offers as one s own work the words, data, ideas, arguments, calculations, designs or productions of another without appropriate attribution or when one allows one s work to be copied. (See the Ryerson Library for APA style guide references It is assumed that all examinations and work submitted for evaluation and course credit will be the product of individual effort, except in the case of team projects arranged for and approved by the course instructor. Submitting the same work to more than one course, without instructors approval, is also considered plagiarism. Students who have committed academic misconduct will, at a minimum receive a 0 on the work, and an instructor may assign an F in the course. The Academic Integrity Seminar may also be assigned. Students Page 5 of 7

6 will have the notation Disciplinary Notice (DN) placed on their academic record and official transcript. The notation shall remain until the students graduate, or for eight (8) years, whichever comes first. If you receive this in the first half of your program, you may undergo a petition process to have it removed in your last year. Students who commit academic misconduct a second time shall be placed on Disciplinary Suspension (DS) for up to two years, at which time they may apply for reinstatement to a program. The designation DS shall be placed on their permanent academic record and official transcript. The notation shall remain until students graduate, or for eight (8) years, whichever comes first. Disciplinary Withdrawn standing (DW) shall be permanently noted on students academic records and official transcripts. Expulsions shall be permanently noted on students academic records and official transcripts. NOTE: Students may not drop a course when they have been notified of the suspicion of academic misconduct. If a student attempts to drop the course, the Registrar s office will re-register the student in that course until a decision is reached. When an instructor has reason to suspect that an individual piece of work has been plagiarized, the instructor shall be permitted to submit that work to any plagiarism detection service. CHEATING ON AN EXAM OR TEST: Ryerson s Examination Policy requires that all students have a valid student identification card or other photo identification on their desk at all times when taking an examination. If it is suspected that someone is impersonating a student, the photo identification of that person will be checked, and the person will be asked to sign the exam paper for further verification. If it is suspected that the identification is not valid, students may be asked to provide alternate photo identification. Security may be called, if circumstances warrant. Student Responsibilities in Academic Appeal Students should read the Undergraduate Academic Consideration and Appeals policy at ( It is the student s responsibility to notify and consult with either the instructor, or the Chair/Director of the teaching department/school, depending on the situation, as soon as circumstances arise that are likely to affect academic performance. It is also the student s responsibility to attempt to resolve all course related issues with the instructor and then, if necessary, with the Chair/Director of the teaching department/school as soon as they arise. An appeal may be filed only if the issue cannot be resolved appropriately. Failure to deal with a situation as soon as it arises will jeopardize any appeal. Students who believe that an assignment, test, or exam has not been appropriately graded must review their concerns with their instructor within 10 working days of the date when the graded work is returned to the class. Academic Grading Policy Evaluation of student performance will follow established academic grading policy outlined in the Ryerson GPA Policy The grading system is summarized below: Page 6 of 7

7 Definition Letter Grade Grade Point Conversion Range A A Excellent A B B Good B C C Satisfactory C D D Marginal D Unsatisfactory F Page 7 of 7