Certified Financial Planner Program

Transcription

1 Mount Royal Faculty of Continuing Education & Extension Certified Financial Planner Program Program Information Guide Policies ~ Guidelines ~ Descriptions

2 The Certified Financial Planner Program Earn the mark that is the gold standard in financial planning - the prestigious Certified Financial Planner (CFP ) designation. Mount Royal University, Faculty of Continuing Education and Extension, is proud to offer the CFP education program in association with the Canadian Institute of Financial Planning (CIFP). This program has been developed for individuals who wish to become qualified professional financial planners as well as for those who simply want a better understanding of today s complex financial issues and the ability to effectively structure their own financial affairs. No other program offers more professional, thorough and up-to-date financial training. This information guide outlines the policies and procedures of the CFP Program. As a student in this program, you are expected to thoroughly review and familiarize yourself with the information in this guide as well as the CIFP Academic Calendar, and abide by the stated policies and procedures. Mount Royal University is dedicated to offering programs and services that will prepare you to succeed in these fast-paced, rapidly changing times. We thank you for choosing Mount Royal University to assist you in your personal and professional development, and wish you every success in your studies and future ventures. The Program The Certified Financial Planner Program is comprised of the following four required courses, covering the full spectrum of financial products, services and strategies. Financial Planning 1 - Retirement Planning Become familiar with how financial planning clients plan for retirement, use their financial assets during retirement and make financial decisions related to retirement. This course includes an overview of retirement planning with case studies, followed by a detailed look at pensions. It examines the characteristics of registered retirement savings plans, the taxation of retirement income and tax planning opportunities that are available. Optional Co/Prerequisites: - Personal Financial Planning - Time Value of Money Math Tutorial - highly recommended for anyone not familiar with a financial calculator or financial calculations. It takes you through the steps required to perform time value of money calculations using the Hewlett-Packard HP10b II+ financial calculator (available at the BookStore). Visit for complete course details Financial Planning 1 - Risk Management & Estate Planning Clients look to their personal financial planners to provide expert guidance on the many issues involved in risk management and estate planning. This course provides a detailed look at the risk management process and the insurance products that are available to manage risk. The risks of disability, death and property/liability losses and the legal requirements of insurance policies are addressed. The estate planning process and the main contributions and strategies involved in developing an estate plan are also reviewed. Financial Planning 2 - Income Tax Planning Gain an understanding of how business and financial assets are used to acquire and preserve wealth. This course examines how various business forms are structured and taxed and how they can be used to generate wealth for the owner/manager or the passive investor. It reviews the taxation of employment income and benefits with an emphasis on considering ways to increase an individual s compensation without increasing taxable income. Mount Royal University 2 Revised Sep 2014

3 Financial Planning 2 - Strategic Investment Planning Learn about the investment products that individuals use to achieve wealth accumulation objectives. This course presents the framework of Strategic Investment Planning, which provides the personal financial planner with a method to design or evaluate a client s investment portfolio. Topics include financial securities (treasury bills, bonds, debentures, common/preferred shares, equities), personal use assets, investment theory, financial economics, as well as real estate investments and tax shelters. Each of the four required courses is 42 hours in length and includes unit assessments and a final exam. The pace is very demanding, and students are expected to spend at least the equivalent time in self-study. Courses may be taken in any order. The CIFP Program Review & Evaluation is also a required component of the program, and includes 2 online assessments and a final 4-hour proctored exam. This will assist students in assessing and improving their level of preparedness for the CFP examinations administered by Financial Planning Standards Council (FPSC). Only students who have successfully completed all 4 required courses in the program are eligible to write the final program exam/assessments. CIFP Online Registration & Course Materials As part of your registration in the CFP Program at Mount Royal, a generic student account has been created under your name on You will be assigned a seven digit CIFP Student ID number. On the first night of class you will receive instructions to update your account information and to access the online course materials on the CIFP website. Please refer to the Enrolment Instructions provided by your instructor for further information. All materials for the courses including exams and graded assignments have been published and/or authorized for use by CIFP. Optional CIFP printed materials are available for purchase at the MRU Bookstore (back counter). As sales are restricted to registered students, please ensure you bring your Confirmation of Registration letter. Financial Calculator - A financial calculator with the ability to calculate internal rate of return for uneven cash flows is required for this course. Your financial calculator must not have an alphabetic keyboard. Although the University or the Institute does not recommend any specific calculator, the HP10b II+ is demonstrated in your course materials. These calculators are available for purchase at the BookStore and at various office supply stores in Calgary. Completion Requirements The program consists of four required courses plus the Final Program Review & Evaluation. It is recommended by CIFP that students complete all required courses in this program within a 5-year period. Financial Planning Standards Council requires that candidates for the Level 1 Examination attempt this exam within 4 years of their core curriculum program completion date. Mount Royal University 3 Revised Sep 2014

4 Course Policies 1. Attendance You are expected to attend all class sessions. If, on occasion, you are unable to attend your weekly scheduled class, please advise your instructor that you will not be in attendance. 2. Course Load Students should expect to spend an average of hours per course. The course offers many opportunities for you to apply and test your understanding of the content. There are different types of exercises and feedback built into this course that are designed to allow you to practice your skills in as realistic and memorable fashion as possible. These range from simple matching exercises, to calculations, to more complex case studies that will require analysis and problem solving. 3. Online Assessments Throughout each required course, at the end of each unit you will find a formal online assessment consisting of 20 questions. The assessments provide a series of multiple-choice questions that allow you to test your mastery of the content you have covered. These assessments are graded and are due the date of the final exam, as published on the course outline. Incomplete assessments are subject to full penalty and will be awarded a 0 grade. The combined total mark you receive on these assessments accounts for 30% of your final course grade. Please direct any queries you have regarding your assessments to your Instructor. If you encounter problems accessing your assignments, please use the Help button to take you through the possible solutions for Web difficulties. DUE TO THE NATURE OF THE INTERNET & WEB-BASED TRAINING, PLEASE ENSURE YOU ALLOW SUFFICIENT TIME TO ACCESS AND SUBMIT YOUR ASSESSMENTS IN ADVANCE OF THE FINAL EXAM DATE. IF YOU ARE UNABLE TO SUBMIT AN ASSIGNMENT DUE TO A TECHNICAL PROBLEM, YOU WILL NOT BE ENTITLED TO AN EXTENSION. 4. Final Examination The final exam for each required course is worth 70% of your final grade. It is comprised of 100 multiple-choice questions. The exam is in hard copy (paper) format and written in class on the final night of the course. Three hours are allotted for the exam and reference material is not allowed in the examination room. A nonprogrammable calculator is required for the final exam. NOTE: STUDENTS MUST WRITE THEIR EXAMINATION ON THE SCHEDULED CLASS DAY AS PUBLISHED ON THE COURSE OUTLINE. ANY STUDENT WHO FAILS TO APPEAR AT THE EXAM SITTING WILL FORFEIT ONE EXAM ATTEMPT. Only under exceptional circumstances will exam deferrals be permitted. Special consideration may be given to students who are ill on the day of the regularly scheduled exam. A letter from a physician must accompany requests for deferral of an exam due to health reasons. The medical statement must indicate the specific Mount Royal University 4 Revised Sep 2014

5 date and time the student was attended to and must specify that the nature of the illness supports deferment of the examination. Please note that a special examination sitting fee may be assessed to re-schedule an exam. Any student who fails to appear at a scheduled special exam sitting without notifying Mount Royal University prior to the exam date will forfeit one exam attempt. 5. Passing Grade To pass the course an overall combined mark of 60% must be achieved with a minimum of 60% on the final exam. 6. Exam Rewrites If you are unsuccessful on your first examination attempt, you will be permitted one rewrite attempt that must be completed within one year from the course start date. A rewrite fee will be assessed at the time of exam registration. Please note that if you are unsuccessful on the rewrite exam, you must repeat the course. 7. Final Program Review and Evaluation Only students who have successfully completed all four required courses in the program are eligible to write the final program exam/assessments. To be registered in the next scheduled exam sitting (administered in March, April, June, September & December), students are required to complete the attached Application to Write Program Review and Evaluation/Final Program Exam. Once registered, students will be provided with access to the online Program Review & Evaluation module which is comprised of two formal assessments similar in content and style to the final program exam. Students must submit the two 100-question assessments at least 14 days prior to the first attempt at the program exam. Assessments submitted after this date are subject to full penalty and will be given a grade of zero. Students must then successfully complete the 4-hour CIFP Final Program Exam. The final course grade will be based on a 15% weighting for assessments and a 85% weighting for the final program examination. A passing grade is an overall grade of 60% with a minimum examination grade of 60%. Upon successful completion of the Final Program Review and Evaluation, graduates have satisfied the education requirement necessary for sitting FPSC s Level 1 Examination. Course Evaluations Course evaluations are conducted at the end of each course. Students are encouraged at any time to discuss any aspect of the course with their instructor or the Program Coordinator. Your feedback allows Mount Royal to make continuous improvements to the program curriculum and delivery. Mount Royal University 5 Revised Sep 2014

6 Course Cancellation Mount Royal reserves the right to cancel any course in which a minimum required registration is not achieved. Students will be notified by telephone if a cancellation occurs. Program Policies 1. Withdrawals i. Withdrawal (from a course 4 business days prior to the start date) Withdrawals must be submitted in writing and may be submitted by ceregservices@mtroyal.ca fax: ; mail or in person: Registration Services, Room A101, Kerby Hall, 4825 Mount Royal Gate SW, Calgary, AB, T3E 6K6. Please quote: student ID number, CRN (Course Reference Number), course name, course start/end dates, full legal name, date of birth, address and phone number. All withdrawal refunds are subject to an administration fee of 10% of course tuition (max. $50). Refunds may take up to two weeks to process. 2. Accessibility It is a student's responsibility to request academic accommodation. If you are a student with a disability who may require academic accommodation and have not registered with Accessibility Services, please contact their office at You must be registered with Accessibility Services to access academic accommodations. Transcripts and Forwarding Grades to Financial Planning Standards Council Marks will be posted directly on the CIFP website under your Student Profile. Official transcripts will be issued from CIFP within 90 days of writing the exam. Absolutely no marks will be released over the phone or via . Once you have been granted successful completion in the program, in order for CIFP to release a copy of your transcript to FPSC to qualify to write the Financial Planning Examinations, you must complete and return a copy of the FPSC Mark Waiver form to CIFP. This form can be downloaded from the main page of CIFP.ca. The CFP examinations are held twice yearly in June and November. For information on registering for the CFP exams and application deadlines, please visit FPSC s website at Mount Royal University does not enroll students for these examinations. Earning Your CFP Designation Successful completion of the CIFP CFP Program is one of four steps to becoming a Certified Financial Planner : Education, Examinations, Experience and Ethics. Upon completion of the CFP Program, you are eligible to write the FPSC Level 1 Examination. To earn the internationallyrecognized CFP /Certified Financial Planner designation, you must then write and pass the Level 1 Examination, complete an FPSC-approved Capstone Course, write and pass the FPSC s CFP Examination and fulfill all of FPSC s additional pre-certification (including 3-year work experience requirement) and annual licensing requirements. Visit for complete details. Mount Royal University 6 Revised Sep 2014

7 In association with the Canadian Institute of Financial Planning, Mount Royal University is pleased to offer a CFP Examination Preparatory Training Programs for those who are preparing to write FPSC s exams. For details on upcoming sessions, please call or visit our website at CIFP FPSC-approved Capstone Course Successful completion of all CIFP CFP courses plus the final program review/exam qualifies you for a discounted tuition of $99 on CIFP's online Capstone course ($120+GST case study/administration fee will apply.) Visit for full details on this course. Registered Retirement Consultant - RRC Designation By successfully completing both Financial Planning 1 courses in the CFP Program as well as the online RRC online practice module and examination, you can earn the industry-standard RRC designation from the CIFP Retirement Institute on your way to becoming a Certified Financial Planner. Additional requirements to obtain the designation apply. Visit for more information. Awards/Recognition The CIFP recognizes academic excellence annually by bestowing an award to the Mount Royal University CIFP graduate with the highest overall program grade. Students can receive prior learning recognition of CFP courses which are directly transferable into Mount Royal University s Bachelor of Business Administration offered by the Bissett School of Business, provided students meet the entrance requirements for the degree and earn admission to the program. For more information on this program, visit MRU Learning Skills Centre As a student of Mount Royal University, there are many services available to you from the Learning Skills Centre that are designed to help you enhance your academic success and preparedness. Workshops are available each fall and winter semester on topics such as preparing for exams, exam taking strategies, study skills, time management, etc. For the schedule of upcoming workshops and a complete listing of services, please visit their website at or call Student Expectations and the Student Code of Conduct IMPORTANT NOTE: PROGRAMS LEADING TO A PROFESSIONAL CERTIFICATION OR DESIGNATION ARE SUBJECT TO THE GRADING POLICIES AND APPEAL OF GRADE PROCEDURES OF THE RESPECTIVE ORGANIZATION /PROFESSIONAL ASSOCIATION RELATED TO THE PROGRAM. Mount Royal University 7 Revised Sep 2014

8 Please review the CIFP Academic Calendar at for the Examination, Plagiarism & Cheating and Student Dispute & Resolution Policies that apply to this program. Students are expected to familiarize themselves with the information contained on the following web pages: The Continuing Education FAQs webpage contains policies that are common to all credit-free students and covers topics such as: Privacy Final Grade Appeal Policy/Procedure Grades and unofficial transcripts Graduating Tax receipts (T2202A) The Code of Student Conduct is a comprehensive account of the University s expectations of its students with respect to academic dishonesty and non-academic misconduct. It also guarantees the University s obligations to its students and provides a detailed account of the rights of students under the Code. Finally, it describes the procedures for conducting hearings and appeals and the sanctions related to infractions of the Code. Academic Dishonesty Mount Royal is committed to the principle of academic integrity, which, as described by the Center for Academic Integrity, is grounded in the belief in the fundamental values of honesty, trust, fairness, respect and responsibility. From these values flow principles of behaviour that enable academic communities to translate ideals into action 1. The University expects that all of its members will honour these principles in maintaining the academic standards and integrity of the University community. can be accesses through the Library link located under the Information section of the Blackboard site. Library: Cite Sources: MRU Guide to APA Documentation in Research Papers Plagiarism refers to a form of academic dishonesty occurring when an individual claims that a piece of work has been authored by him or herself when indeed the work has been created by another individual. There are sanctions for plagiarism. Learn more in the Guide to Avoiding Plagiarism. Non-Academic Misconduct Mount Royal expects that its students will behave in a manner, which does not seriously disrupt or adversely affect Mount Royal or its educational mission. Behaviour which is subject to disciplinary action under the Code includes violations of established civil and criminal statutes; conduct that threatens the safety or well-being of members of the University community; and any other behaviour that seriously and adversely affects the University s students or employees, its property or its reputation. The Code of Student Conduct is available through the Office of the Dean, Faculty of Continuing Education and Extension. HARASSMENT OR DISCRIMINATION Sexual harassment and other forms of discrimination are unacceptable at Mount Royal. In cases of harassment or discrimination or for information about the Mount Royal s Individual Rights Policy, you are advised to contact the Human Rights Advisors in Room U216C. APA Formatting/Avoiding Plagiarism All students are expected to follow American Psychological Association (APA) Publication Manual for referencing and formatting of their assignments. The 6th edition of APA standards must be used when completing all assignments for this course. APA guidelines Mount Royal University 8 Revised Sep 2014

9 Application to Write Program Review and Evaluation Final Program Exam 4825 Mount Royal Gate SW, Calgary AB T3E 6K6 T: F: E: W: Certified Financial Planner Program CIFP Student ID Number Last Name First Name Middle Name Personal Information Address City Province Postal Code Telephone Home ( ) Fax ( ) Business ( ) Address Cell ( ) Program Information Date of Final Course Completion I acknowledge that I have successfully completed all of the four required CFP courses and am now eligible to access the Program Review & Evaluation assessments and write the Canadian Institute of Financial Planning (CIFP) CFP Final Program Exam. Student Signature Date Freedom of Information and Protection of Privacy The information that you provide to Mount Royal University when you register for Continuing Education courses is collected under the authority of the Post-Secondary Learning Act and Freedom of Information and Protection of Privacy Act in the Province of Alberta, Section 33(c). This information will be used for academic administration, the administration of Mount Royal support services, scholarship and financial aid awards, marketing and recruitment activities. Your personal information is protected and can be reviewed upon request. The complete statement and further contact information is available at conted.mtroyal.ca/cefoip. Final Program Exams are administered by CIFP in March, April, June, September and December. Upon receipt of your application, you will be registered to write at the next scheduled exam sitting. An confirming the date of the exam as well as instructions on how to access the online Program Review & Evaluation module on the CIFP website will be sent to you shortly. Note: If you are unable to write the exam on the scheduled date, an administration fee will apply to arrange a special exam sitting for you. NOTE: The formal assessments in the Program Review & Evaluation are graded and will count towards 15% of your final course grade for the Program Review & Evaluation. The final program exam will count towards 85% of your final course grade. The assessments must be submitted at least 14 days prior to the first attempt at the program exam. Assessments submitted after this date are subject to full penalty and will be given a grade of zero. A passing grade is an overall grade of 60% with a minimum exam grade of 60%. Please note that any student who fails to appear at a scheduled exam sitting without notifying Mount Royal University prior to the exam date will forfeit one exam attempt. Please mail or fax your completed form to: Christine Pepper Mount Royal University Faculty of Continuing Education and Extension 4825 Mount Royal Gate SW Calgary, AB T3E 6K6 Fax: Phone: Office Use Only Scheduled Exam Date Exam Completed