Advance Personal Finance 2017 Assessment Booklet 代写

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  • Advance Personal Finance 2017 Assessment Booklet 代写
     
    Advance Personal Finance 2017
    Assessment Booklet
    1.1  Overview
    Table 1.1 – Assessment Schedule
    Task  Participants  Value (%)  Date due
    Assessment 1 – Reflective Journal Student  10  4 Sep
    5pm
    Assessment 2 – Financial Plan  Student  35  24 Oct
    5pm
    Assessment 3 – Plan Presentation  Student
    Practitioner
    10  24 Oct
    5pm
    Final Exam  45  Exam week
    The aim of these assessments is take you through the process of:
    1. Collecting relevant personal and financial information;
    2. researching and formulating solutions; and
    3. presenting the appropriate recommendations.
    Through these exercises, you will gain a better understanding of the steps taken to
    effectively manage your personal finances and appreciate the complexity of skills needed
    for financial planning.
    1.2  Delivery of Unit Content
    With the assistance of Curtin’s Office of Assessment, Teaching and Learning, the
    delivery of the unit’s content has been altered to facilitate discussion and promote
    participation.
    The 3 hours in-class workshop is devoted to exercises, projects and discussions. These
    activities will foster peer interaction, promote responsibility for one's own learning and
    development, sustain intellectual curiosity and provide tools to know how to continue to
    learn as a graduate. There will also be time devoted to answering your questions and
    providing additional guidance on the assessment tasks. This allows for directed
    coaching from your lecturer.
    1.3  Communication
    Written communication is preferred.
    When sending emails to the unit coordinator, please use this format in your subject field:
    PF, <last name>, <first name>, <student ID>, <location>.E.g. PF, Smith, John, 123456A.
    The purpose of the email is written on the first line in the main body of the email. You
    may not receive a prompt reply if you do not follow this format.
    2/11
    1.4 Assessment submission
    All written assessments are to be submitted on Turnitin; no exceptions. They are to be
    professional typed; no handwritten submissions. Your work must be assessable through
    Turnitin. Scanned graphics will not be marked.
    Do not email your assignment or additional attachments to your tutors/lecturer; they will
    not be marked.
    You are responsible to ensure that the assignment submitted is the correct and final
    version. As you are allowed to make multiple submissions prior to the due date, you are
    encouraged to submit your assignment the day before the due date. You would have a
    submission in the system should an unforeseen circumstance occur on the due date.
    1.5 Backing up your work
    Please save your work often. You can consider services like icloud, Google drive,
    Dropbox, Sugarsync, etc. Most providers allow you to control the frequency of the
    automatic syncing. We recommend that you sync on every time your documents saves
    and change your settings on your Microsoft word to auto save every 5 mins.
    The student advisers and tutors are able to give some guidance on this if you need
    assistance.
    A hard drive/computer failure does not warrant an extension;
    1.6  Plagiarism
    Plagiarism (including self-plagiarism) is a serious offence.
    All work above 20% similarity index will be referred to the student disciplinary panel for
    investigation.
    The investigation may take up to two month to finalise. If it is not finalised prior to the
    release of the results, you will receive a F-IN grade.
    If your work is submitted to the student disciplinary panel, you will be notified directly by
    the student advisers via your official Curtin Oasis account.
    You will be given an opportunity to provide an explanation to the disciplinary panel. Your
    unit coordinator will not be involved in the process and will not be able to provide you
    with any assistance in this matter. Interfering with the process will delay the
    outcome of the investigation;
    Please refer to Curtin’s plagiarism guide and utilize the checklist provided below:
    o http://academicintegrity.curtin.edu.au/local/docs/StudentPlagiarismGuide.pdf
    o http://academicintegrity.curtin.edu.au/local/docs/StudentChecklist.pdf
    3/11
    1.7 Assignment extensions
    Do not send your extension requests to your unit coordinator.
    In addition to the necessary paper work, you must also submit your work
    completed to date together with your extension request. This is to show evidence
    that you have started doing your assignment and have followed the recommended time
    frames as described in this document.
    We will accept it in any format; regardless of how incomplete your work is. This will
    enable us to give a better assessment of your case.
    Please note that if you have been granted an extension, the system will not allow you to
    make multiple submissions on Turnitin after the initial due date.
    4/11
    2.1  Assessment 1 (10%) – Personal cash flow statement
    Assessment 1 is an individual assessment that provides a foundational tool in personal
    finance. It also allows you to reflect on your behaviour and provides an opportunity to
    comment on ways to improve. This exercise will cover over four weeks and students are
    encouraged to commence as soon as semester begins.
    Objective: Record personal expenses over four (4) weeks and prepare a cash flow
    statement (for the month) as a tool for reflective assessment of personal spending habits.
    Please refer to chapter 5 of the textbook for background information on cash flow
    statements.
    You are to record your daily expenses over four week in an excel spreadsheet or any
    relevant budgeting application. The categories must include the following:
    Date  Item  Amount  Description Classification
    01/07/2017  Pizza  $6.95  Meals  Variable
    03/07/2017  Telstra $49.95  Phone bill  Fixed
    You should have at least 10 different description categories (e.g. holidays, meals, Petrol,
    etc.) but no more than 20. More categories would provide better insight to your spending
    habits. Your expenses should be presented in a pie chart and summary table as follows
    (example):
    Row Labels  Amt ($)  %
    Travel & Holidays  19,823   33%
    House  9,144   15%
    Insurance  6,536   11%
    Car maintenance  6,251   10%
    Groceries  4,295   7%
    Meals & Alcohol  3,399   6%
    Mobile & Phone  3,169   5%
    Petrol  2,648   4%
    Foxtel & iTunes  1,223   2%
    Internet  1,068   2%
    Work & Education  730   1%
    Dental  708   1%
    Recreation  675   1%
    Taxi  594   1%
    ATM Fees  229   0%
    Grand Total  60,491   
    Discretionary   43%
    Non‐discretionary   57%
    You can use the categories listed above as a guide.
    You are only recording your expenses for the month. However, you may multiply this by
    12 months to give you a projected spending for the year. This may make it easier for you
    to ascertain your surplus/deficit position.
    Bills
    17%
    Council rates
    2%
    Donations
    2%
    Education
    2%
    Entertainment
    12%
    Fuel
    2%
    Home
    10%
    Insurance
    9%
    Medical
    1%
    Mortgage
    15%
    Phone
    1%
    Purchases
    12%
    Sports
    15%
    Summary of expenses
    Bills
    Council rates
    Donations
    Education
    Entertainment
    Fuel
    Home
    Insurance
    Medical
    Mortgage
    5/11
    Do not attach tables from your excel spreadsheet or data collection tool. You will only need
    to submit this if you need to request for an extension.
    Please provide an analysis of your personal cash flow statement (450 words). Your
    analysis should cover a discussion of your surplus/deficit position, nature of your major
    expenses, your experience of the exercise and your strategy for improving your cash flow
    position.
    You do not need to record your income. However, to determine your surplus/deficit
    position, you will need an estimation. For some students, this may be income from your
    job or for others, allowance from parents.
    6/11
    2.2  Assessment 1 - Marking rubrics
    7/11
    3.1 Assessment 2 – Financial plan formation (35%)
    Objective: To formulate appropriate financial solutions tailored to a set of circumstances,
    goals and objectives.
    You are to review the information provided in the case study and with the knowledge
    acquired in this unit, investigate various solutions to formulate a suitable plan to achieve
    the stated goals and objectives.
    You have to use the format provided in 3.4 to complete your financial plan.
    This document will also be used to present your recommendations (Plan Presentation).
    This presentation will occur on week 11. More details regarding the presentation will be
    provided in the next section.
    3.2  Assessment 2 Case study details
    You are to assist Stacey Koh, aged 26, achieve her goal of purchasing her first home.
    Stacey is currently working as a stock broker in a finance company earning annual
    salary of $73,000 (excluding superannuation). On top of her base pay, she receives an
    annual bonus of 2% of total sales for the year. Her last year’s bonus was $26,000. She
    is uncertain if the bonus would be repeated given that she has yet to achieve her sales
    target for the year.
    She is currently renting an apartment near the city, paying a weekly rent of $300. She is
    happy with her living arrangement as she catches a bus (two stops) to work. However,
    her parents have urged her to buy a home so that she can start accumulating wealth.
    They are able to give her $80,000 at the time of purchase to assist her if she needs it. As
    properties in (or near) the city are very expensive, she will have to settle for a suburb in
    the outskirts. The average cost of a small house is $400,000.
    She currently has $20,000 in her bank transaction account and personal effects with an
    estimated value of $10,000. She has 1,000 NAB (National Australia Bank) shares that
    she bought 4 years ago with the inheritance money that she received from her
    grandfather’s estate. She has a credit card with a $10,000 limit that she keeps for
    emergency use. She has a 2001 Honda Civic with an estimate value of $5,000. Her car
    is parked in a secure garage and she only uses it during the weekends. She has
    accumulated $25,000 in her employer sponsored superannuation fund. Excluding her
    rent, her annual expenses is about $20,000.
    She is unsure of the cost and concessions associated with purchasing a property and
    cash flow implications of being a home owner. If possible, she wants to purchase the
    property without her parents’ help. She would be willing to sell her shares if it means that
    she would be able to purchase the house within the 5 years’ timeframe. She would also
    like to buy a new car in the next 2 years as her current one is getting old. The estimated
    cost of a car that she likes is $20,000. She is unsure if she can afford to buy a new car
    and house.
    8/11
    3.3  Assessment 2 Marking rubrics
    9/11
    3.4  Assessment 2 – Additional guidance
    Pages  Title  Details
    1  Front cover 
    •  Your name
    •  Student ID 
    •  Location/mode of study 
    2  Executive
    summary
    •  One page
    •  Statement of present position (1 paragraphs, in words)
    •  Goals and objectives (point form with dollar amounts and time frame)
    •  Strategies and recommendations 
    •  Outcome and projections (addressed how objectives are met,
    projections have supported the outcomes) 
    3  Personal
    Information
    •  Summary of personal background
    •  Goal and objectives (provide motivation, dollar amounts and time
    frame)
     
    3‐4  Financial
    Information
    •  Personal balance sheet and calculate net worth
    •  Investigate how much are the shares worth today 
    ‐  Visit http://www.asx.com.au/ or
    https://au.finance.yahoo.com/ 
    ‐  Record the price of the share today and pick a date four years
    ago to determine the profit or loss if the share were to be sold
    ‐  Check if there are dividends and attached franking credits 
    ‐  Include dividend/interest income in tax calculations (see
    chapter 10)
    ‐  Include Medicare levy in tax calculations
    •  Cash flow statement and calculate surplus position
    5‐6  Initial
    investigation
    •  Calculate how much can be saved each fortnight based on cash flow
    statement. This will provide the maximum loan repayment amount.
    Note that rent is no longer payable when the property is purchased
    •  Investigate the cost and assistance available for first homebuyers
    •  Calculate the future value of the property and deposit needed
    •  Discuss 2 options for purchasing the home (with and without selling  of
    shares)
    •  Discuss the possibility of not obtaining the financial assistance from
    parents
    •  Points to note:
    ‐  Assume the loan to be 80% of the property purchase; lenders
    mortgage insurance is not to be considered 
    ‐  Research http://www.firsthome.gov.au/ for government
    benefits eligibility
    ‐  Research
    http://www.finance.wa.gov.au/cms/content.aspx?id=2011 for
    stamp duty payable and concessions. Do not use non‐
    government websites as the information may be incorrect 
    10/11
    ‐  Research fees and charges for property purchase using a bank
    website (Most Australian banks website will have a calculator
    to ascertain borrowing capacity and a guide to the fees and
    charges)
    ‐  Ascertain how much funds will be needed to complete the
    purchase:
      = 20% of purchase price
      ‐ plus any government assistance
      + fees and charges
    7  Initial
    investigation
    •  Investigate an appropriate residential home loan rate; summarising
    any specific conditions or restrictions 
    •  Discuss between the following loan features:
    ‐  Fixed vs variable rate
    ‐  Offset vs redraw facility
    ‐  Principle and interest and interest only repayment
    ‐  Frequency of repayments (monthly vs fortnightly)
    8  Initial
    investigation
    •  Discuss the options for saving up for the home deposit via direct and
    indirect investments; summarise the advantages and disadvantages of
    each option
    •  Calculate the expected amount that would be accumulated. Explain
    clearly why the investment may be appropriate, assuming that a
    balanced risk profile is used
    •  Clearly state assumptions used in calculations
    9  Strategy
    presentation
    •  Recommend the solution that you feel is most appropriate
    •  Provide reasons to justify your recommendation
    •  Discuss the implications (financial and non‐financial) of purchasing  a
    home (in comparison with renting) 
    •  Discuss the implications of selling investment assets
    •  Suggest an appropriate strategy to pay off the loan quicker
    10  Outcomes  •  Making reasonable assumptions, prepare the cash flow statement
    after the home purchase 
      Important
    notes
    •  You do NOT need to recommend any products. Just concentrate on
    recommending solutions. Any research made is to obtain the interest
    rates and conditions attached to them. All research is to be included in
    the appendix (screenshots are permitted)
    •  Do NOT promote or compare between products. For example, you can
    recommend investing in a managed fund, but not Colonial First State
    •  Past student assignments posted are based on a different case study
    and requirements. They should not be used as a template.
    11/11
    4.1  Assessment 3 - Plan Presentation (10%)
    Objective: To verbally present the recommended strategies in a clear, succinct and
    professional manner.
    After formulating the strategy and documenting it clearly in the financial plan, you are
    now ready to present the plan.
    This is scheduled on week 13. Location and details will be provided later in the
    semester.
    You are given 15 minutes to present your plan and marks are awarded for keeping to the
    allocated time. You are to ensure that you run through your presentation with someone
    else prior to the interview.
    4.2 Assessment 3 Marking Criteria
    Marks will be awarded for their ability to:
      20%  Initiate the conversation and engage
      20%  Summarise the goals
      10%  Present the solution clearly
      40%  Clear, concise and professional presentation
      10%  Time management and overall experience
    4.3 Important notes
      The interview style should be casual but respectful. There is no need to dress up in
    business attire. However, employers have in the past asked students to submit their
    CVs or invite them for a job interview.
      Make eye contact and engage; do not just read off your document.
      Try running through the interview with a friend not doing this unit; they can give you
    some feedback.
      Always pause to check if the listener understood what you said.
      Invite the listener to ask questions; that is the best way to ensure they are engaged.
      Ensure you place tabs at the side of your financial plan to help you locate the
    important areas.
    12/11
    4.4 Assessment 3 – Marking guide
    Student’s
    Name
    Marker’s
    Name
    Personal
    Q1. Introduction No introduction
    Weak introduction  Strong introduction,
    Eye contact,
    Warm smile
    0  0.5  1
    Q2. Engagement No engagement
    Weak attempt to break the
    ice
    Made you feel
    comfortable,
    Showed concern
    0  0.5  1
    Planning
    Q3. Recap goals Did not recap goals
    Partial recap  Mentioned all major goals
    0  0.5  1
    Q4. Establish scope of
    presentation
    Did not establish scope
    Established the scope  Established the scope and
    explained why other areas
    not covered

    Advance Personal Finance 2017 Assessment Booklet 代写
    0  0.5  1
    Q5. Solution Not appropriate
    Incomplete, incoherent  Appropriate solution
    provided, easy to follow
    reasoning
    0  0.5  1
    Presentation
    Q6. Presentation  Unclear
    Hard to follow, disjointed  Clear, concise and easy
    to understand
    0  0.5  1
    Q7. Use of aids  Did not use any graphs or
    charts
    Incorrect usage of aids  Appropriate use of graphs
    and charts
    0  0.5  1
    Q8. Feedback No pause
    Pause but did not invite
    questions
    Pause to allow for
    questions, ensure you
    understood
    0  0.5  1
    Q9. Conclusion No conclusion
    Unclear direction  Good conclusion and
    clear explanation of next
    steps
    0  0.5  1
    Q10. Overall Kept to the allocated time  Engaging,
    Effective
    +0.5  +0.5
    Comments
    Total Score /10
    Advance Personal Finance 2017 Assessment Booklet 代写