Advance Personal Finance 2017 Assessment Booklet 代写.
Advance Personal Finance 2017 Assessment Booklet 代写
Advance Personal Finance 2017Assessment Booklet1.1 OverviewTable 1.1 – Assessment ScheduleTask Participants Value (%) Date dueAssessment 1 – Reflective Journal Student 10 4 Sep5pmAssessment 2 – Financial Plan Student 35 24 Oct5pmAssessment 3 – Plan Presentation StudentPractitioner10 24 Oct5pmFinal Exam 45 Exam weekThe aim of these assessments is take you through the process of:1. Collecting relevant personal and financial information;2. researching and formulating solutions; and3. presenting the appropriate recommendations.Through these exercises, you will gain a better understanding of the steps taken toeffectively manage your personal finances and appreciate the complexity of skills neededfor financial planning.1.2 Delivery of Unit ContentWith the assistance of Curtin’s Office of Assessment, Teaching and Learning, thedelivery of the unit’s content has been altered to facilitate discussion and promoteparticipation.The 3 hours in-class workshop is devoted to exercises, projects and discussions. Theseactivities will foster peer interaction, promote responsibility for one’s own learning anddevelopment, sustain intellectual curiosity and provide tools to know how to continue tolearn as a graduate. There will also be time devoted to answering your questions andproviding additional guidance on the assessment tasks. This allows for directedcoaching from your lecturer.1.3 CommunicationWritten 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. Youmay not receive a prompt reply if you do not follow this format.2/111.4 Assessment submissionAll written assessments are to be submitted on Turnitin; no exceptions. They are to beprofessional typed; no handwritten submissions. Your work must be assessable throughTurnitin. Scanned graphics will not be marked.Do not email your assignment or additional attachments to your tutors/lecturer; they willnot be marked.You are responsible to ensure that the assignment submitted is the correct and finalversion. As you are allowed to make multiple submissions prior to the due date, you areencouraged to submit your assignment the day before the due date. You would have asubmission in the system should an unforeseen circumstance occur on the due date.1.5 Backing up your workPlease save your work often. You can consider services like icloud, Google drive,Dropbox, Sugarsync, etc. Most providers allow you to control the frequency of theautomatic syncing. We recommend that you sync on every time your documents savesand 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 needassistance.A hard drive/computer failure does not warrant an extension;1.6 PlagiarismPlagiarism (including self-plagiarism) is a serious offence.All work above 20% similarity index will be referred to the student disciplinary panel forinvestigation.The investigation may take up to two month to finalise. If it is not finalised prior to therelease 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 bythe student advisers via your official Curtin Oasis account.You will be given an opportunity to provide an explanation to the disciplinary panel. Yourunit coordinator will not be involved in the process and will not be able to provide youwith any assistance in this matter. Interfering with the process will delay theoutcome 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.pdfo http://academicintegrity.curtin.edu.au/local/docs/StudentChecklist.pdf3/111.7 Assignment extensionsDo not send your extension requests to your unit coordinator.In addition to the necessary paper work, you must also submit your workcompleted to date together with your extension request. This is to show evidencethat you have started doing your assignment and have followed the recommended timeframes as described in this document.We will accept it in any format; regardless of how incomplete your work is. This willenable 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 tomake multiple submissions on Turnitin after the initial due date.4/112.1 Assessment 1 (10%) – Personal cash flow statementAssessment 1 is an individual assessment that provides a foundational tool in personalfinance. It also allows you to reflect on your behaviour and provides an opportunity tocomment on ways to improve. This exercise will cover over four weeks and students areencouraged to commence as soon as semester begins.Objective: Record personal expenses over four (4) weeks and prepare a cash flowstatement (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 flowstatements.You are to record your daily expenses over four week in an excel spreadsheet or anyrelevant budgeting application. The categories must include the following:Date Item Amount Description Classification01/07/2017 Pizza $6.95 Meals Variable03/07/2017 Telstra $49.95 Phone bill FixedYou should have at least 10 different description categories (e.g. holidays, meals, Petrol,etc.) but no more than 20. More categories would provide better insight to your spendinghabits. Your expenses should be presented in a pie chart and summary table as follows(example):Row Labels Amt ($) %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 by12 months to give you a projected spending for the year. This may make it easier for youto ascertain your surplus/deficit position.Bills17%Council rates2%Donations2%Education2%Entertainment12%Fuel2%Home10%Insurance9%Medical1%Mortgage15%Phone1%Purchases12%Sports15%Summary of expensesBillsCouncil ratesDonationsEducationEntertainmentFuelHomeInsuranceMedicalMortgage5/11Do not attach tables from your excel spreadsheet or data collection tool. You will only needto submit this if you need to request for an extension.Please provide an analysis of your personal cash flow statement (450 words). Youranalysis should cover a discussion of your surplus/deficit position, nature of your majorexpenses, your experience of the exercise and your strategy for improving your cash flowposition.You do not need to record your income. However, to determine your surplus/deficitposition, you will need an estimation. For some students, this may be income from yourjob or for others, allowance from parents.6/112.2 Assessment 1 – Marking rubrics7/113.1 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 knowledgeacquired in this unit, investigate various solutions to formulate a suitable plan to achievethe 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 beprovided in the next section.3.2 Assessment 2 Case study detailsYou 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 annualsalary of $73,000 (excluding superannuation). On top of her base pay, she receives anannual bonus of 2% of total sales for the year. Her last year’s bonus was $26,000. Sheis uncertain if the bonus would be repeated given that she has yet to achieve her salestarget for the year.She is currently renting an apartment near the city, paying a weekly rent of $300. She ishappy 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. Asproperties in (or near) the city are very expensive, she will have to settle for a suburb inthe 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 anestimated value of $10,000. She has 1,000 NAB (National Australia Bank) shares thatshe bought 4 years ago with the inheritance money that she received from hergrandfather’s estate. She has a credit card with a $10,000 limit that she keeps foremergency use. She has a 2001 Honda Civic with an estimate value of $5,000. Her caris parked in a secure garage and she only uses it during the weekends. She hasaccumulated $25,000 in her employer sponsored superannuation fund. Excluding herrent, her annual expenses is about $20,000.She is unsure of the cost and concessions associated with purchasing a property andcash flow implications of being a home owner. If possible, she wants to purchase theproperty without her parents’ help. She would be willing to sell her shares if it means thatshe would be able to purchase the house within the 5 years’ timeframe. She would alsolike to buy a new car in the next 2 years as her current one is getting old. The estimatedcost of a car that she likes is $20,000. She is unsure if she can afford to buy a new carand house.8/113.3 Assessment 2 Marking rubrics9/113.4 Assessment 2 – Additional guidancePages Title Details1 Front cover • Your name• Student ID • Location/mode of study 2 Executivesummary• 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 PersonalInformation• Summary of personal background• Goal and objectives (provide motivation, dollar amounts and timeframe) 3‐4 FinancialInformation• Personal balance sheet and calculate net worth• Investigate how much are the shares worth today ‐ Visit http://www.asx.com.au/ orhttps://au.finance.yahoo.com/ ‐ Record the price of the share today and pick a date four yearsago 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 (seechapter 10)‐ Include Medicare levy in tax calculations• Cash flow statement and calculate surplus position5‐6 Initialinvestigation• Calculate how much can be saved each fortnight based on cash flowstatement. 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 ofshares)• Discuss the possibility of not obtaining the financial assistance fromparents• Points to note:‐ Assume the loan to be 80% of the property purchase; lendersmortgage insurance is not to be considered ‐ Research http://www.firsthome.gov.au/ for governmentbenefits eligibility‐ Researchhttp://www.finance.wa.gov.au/cms/content.aspx?id=2011 forstamp 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 bankwebsite (Most Australian banks website will have a calculatorto ascertain borrowing capacity and a guide to the fees andcharges)‐ Ascertain how much funds will be needed to complete thepurchase: = 20% of purchase price ‐ plus any government assistance + fees and charges7 Initialinvestigation• Investigate an appropriate residential home loan rate; summarisingany 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 Initialinvestigation• Discuss the options for saving up for the home deposit via direct andindirect investments; summarise the advantages and disadvantages ofeach option• Calculate the expected amount that would be accumulated. Explainclearly why the investment may be appropriate, assuming that abalanced risk profile is used• Clearly state assumptions used in calculations9 Strategypresentation• Recommend the solution that you feel is most appropriate• Provide reasons to justify your recommendation• Discuss the implications (financial and non‐financial) of purchasing ahome (in comparison with renting) • Discuss the implications of selling investment assets• Suggest an appropriate strategy to pay off the loan quicker10 Outcomes • Making reasonable assumptions, prepare the cash flow statementafter the home purchase Importantnotes• You do NOT need to recommend any products. Just concentrate onrecommending solutions. Any research made is to obtain the interestrates and conditions attached to them. All research is to be included inthe appendix (screenshots are permitted)• Do NOT promote or compare between products. For example, you canrecommend investing in a managed fund, but not Colonial First State• Past student assignments posted are based on a different case studyand requirements. They should not be used as a template.11/114.1 Assessment 3 – Plan Presentation (10%)Objective: To verbally present the recommended strategies in a clear, succinct andprofessional manner.After formulating the strategy and documenting it clearly in the financial plan, you arenow ready to present the plan.This is scheduled on week 13. Location and details will be provided later in thesemester.You are given 15 minutes to present your plan and marks are awarded for keeping to theallocated time. You are to ensure that you run through your presentation with someoneelse prior to the interview.4.2 Assessment 3 Marking CriteriaMarks 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 experience4.3 Important notes The interview style should be casual but respectful. There is no need to dress up inbusiness attire. However, employers have in the past asked students to submit theirCVs 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 yousome 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 theimportant areas.12/114.4 Assessment 3 – Marking guideStudent’sNameMarker’sNamePersonalQ1. Introduction No introductionWeak introduction Strong introduction,Eye contact,Warm smile0 0.5 1Q2. Engagement No engagementWeak attempt to break theiceMade you feelcomfortable,Showed concern0 0.5 1PlanningQ3. Recap goals Did not recap goalsPartial recap Mentioned all major goals0 0.5 1Q4. Establish scope ofpresentationDid not establish scopeEstablished the scope Established the scope andexplained why other areasnot covered
Advance Personal Finance 2017 Assessment Booklet 代写0 0.5 1Q5. Solution Not appropriateIncomplete, incoherent Appropriate solutionprovided, easy to followreasoning0 0.5 1PresentationQ6. Presentation UnclearHard to follow, disjointed Clear, concise and easyto understand0 0.5 1Q7. Use of aids Did not use any graphs orchartsIncorrect usage of aids Appropriate use of graphsand charts0 0.5 1Q8. Feedback No pausePause but did not invitequestionsPause to allow forquestions, ensure youunderstood0 0.5 1Q9. Conclusion No conclusionUnclear direction Good conclusion andclear explanation of nextsteps0 0.5 1Q10. Overall Kept to the allocated time Engaging,Effective+0.5 +0.5CommentsTotal Score /10Advance Personal Finance 2017 Assessment Booklet 代写
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