Certificate 4 in finance and mortgage broking
Foundations of Financial Planning Written Assignment Certificate IV in Finance and Mortgage Broking (CIVMB_AS_v5A2) Student identification (student to complete) Please complete the fields shaded grey. Student number Written assignment overall result (assessor to complete) First submission Not yet demonstrated Resubmission (if applicable) Not applicable Result summary (assessor to complete) Section 1: Case study 1 — Philip and Jennifer Brown First submission Resubmission (if required) Task 1 — Key terms, gathering and documenting client information Not yet demonstrated Not applicable Task 2 — Assessing the clients’ situation Not yet demonstrated Not applicable Task 3 — Borrowing options Not yet demonstrated Not applicable Task 4 — Reasonable enquiries Not yet demonstrated Not applicable Task 5 — First Home Owners Grant and home buyer assistance schemes Not yet demonstrated Not applicable Task 6 — Professional network and loan settlement process Not yet demonstrated Not applicable Task 7 — Interest rates Not yet demonstrated Not applicable Section 2: Case study 2 — Richard and Pauline Jackson Task 8 — Establishing level of financial knowledge Not yet demonstrated Not applicable Task 9 — Responsible lending obligations Not yet demonstrated Not applicable Task 10 — Self-employed special considerations Not yet demonstrated Not applicable Task 11 — Advising on strategies Not yet demonstrated Not applicable Task 12 — Impact of credit history Not yet demonstrated Not applicable Task 13 — Dispute resolution Not yet demonstrated Not applicable Task 14 — Effective access to files Not yet demonstrated Not applicable Section 3: Case study 3 — Mary Jane Smith Task 15 — Prepare and check a loan application Not yet demonstrated Not applicable Section 4: Working in financial services Task 16 — Financial services legislation and industry codes of practice Not yet demonstrated Not applicable Task 17 — Design a document Not yet demonstrated Not applicable Task 18 — Applying principles of professional practice to work in the financial services industry Not yet demonstrated Not applicable Task 19 — Develop and maintain in-depth knowledge of products and services used by an organisation Not yet demonstrated Not applicable Please note: To pass this written assignment, you will need to be assessed as DEMONSTRATED in either your first submission or your resubmission in all tasks above. Task feedback Please refer to the assessor’s detailed feedback found at the end of each task so that you know what to do for any tasks you need to resubmit. Before you begin Read everything in this document before you start your written assignment for Certificate IV in Finance and Mortgage Broking (CIVMB_ASMG_v5A2). About this document This document is the written assignment — half of the overall Written and Oral Assignment. This document includes the following parts: •Instructions for completing and submitting this assignment •Section 1: Case study 1 — Philip and Jennifer Brown A case study with a series of short-answer questions: –Task 1 — Key terms, gathering and documenting client information –Task 2 — Assessing the clients’ situation –Task 3 — Borrowing options –Task 4 — Reasonable enquiries –Task 5 — First Home Owners Grant and home buyer assistance schemes –Task 6 —Professional network and loan settlement process –Task 7 — Interest rates •Section 2: Case study 2 — Richard and Pauline Jackson A case study and a series of short-answer questions: –Task 8 — Establishing level of financial knowledge –Task 9 — Responsible lending obligations –Task 10 — Self-employed special considerations –Task 11 — Advising on strategies –Task 12 — Impact of credit history –Task 13 — Dispute resolution –Task 14 — Effective access to files •Section 3: Case study 3 — Mary Jane Smith A case study and a series of short-answer questions: –Task 15 — Prepare and check a loan application •Section 4: Working in financial services –Task 16 — Financial services legislation and industry codes of practice –Task 17 — Design a document –Task 18 — Applying principles of professional practice to work in the financial services industry –Task 19 — Develop and maintain in depth knowledge of products and services used by an organisation •Appendix 1: Key terms •Appendix 2: Client information collection tool/Fact finder •Appendix 3: Loan application. How to use the study plan We recommend that you use the study plan for this subject to help you manage your time to complete the written assignment within your enrolment period. Your study plan is in the KapLearn Certificate IV in Finance and Mortgage Broking (CIVMBv5) subject room. Instructions for completing and submitting the written assignment Completing the written assignment Saving your work Download this document to your desktop, type your answers in the spaces provided and save your work regularly. •Use the template provided, as other formats will not be accepted for these assignments. •Name your file as follows: Studentnumber_SubjectCode_Assignment_versionnumber_Submissionnumber (e.g. 12345678_CIVMB_AS_v5A2_Submission1). •Include your student ID on the first page of the assignment. Before you submit your work, please do a spell check and proofread your work to ensure that everything is clear and unambiguous. Word count The word count shown with each question is indicative only. You will not be penalised for exceeding the suggested word count. Please do not include additional information which is outside the scope of the question. Additional research When completing the ‘Client information collection tool’ in Appendix 2, assumptions are permitted, although they must not be in conflict with the information provided in the Case study. Throughout the assignment you will also be required to research additional information from other organisations in the finance industry to find the right products or services to meet your client’s requirements or to calculate any service fees that may be applicable. Submitting the written assignment Only Microsoft Office compatible written assignments submitted in the template file will be accepted for marking by Kaplan Professional Education. You need to save and submit this entire document. Do not remove any sections of the document. Do not save your completed assignment as a PDF. The written assignment must be completed before submitting it to Kaplan Professional Education. Incomplete written assignments will be returned to you unmarked. The written assignment must be submitted together with the oral assignment. If you do not submit both completed assignments at the one time it will be returned to you unmarked. The maximum file size is 20MB for the written and oral assignment. Once you submit your written assignment for marking you will be unable to make any further changes to it. Once you submit your written assignment for marking you will be unable to make any further changes to it. You are able to submit both assignments earlier than the deadline if you are confident you have completed all parts and have prepared a quality submission. Please refer to the Assignment submission/resubmission videos in the Assessment section of KapLearn under your ‘Assignment Enrolment’ for details on how to submit/resubmit your written assignment. Your Written Assignment and Oral Assignment must be submitted together on or before your due date. Please check KapLearn for the due date. The written assignment marking process You have 26 weeks from the date of your enrolment in this subject to submit your completed assignment. If you reach the end of your initial enrolment period and have been deemed ‘Not yet demonstrated’ in one or more assessment items, then an additional four (4) weeks will be granted, provided you attempted all assessment tasks during the initial enrolment period. Your assessor will mark your written and oral assignment and return it to you in the Certificate IV in Finance and Mortgage Broking (CIVMBv5) subject room in KapLearn under the ‘Assessment’ tab. Make a reasonable attempt You must demonstrate that you have made a reasonable attempt to answer all of the questions in your written assignment. Failure to do so will mean that your assignment will not be accepted for marking; therefore you will not receive the benefit of feedback on your submission. If you do not meet these requirements, you will be notified. You will then have until your submission deadline to submit your completed written and oral assignment. How your written assignment is graded Assignment tasks are used to determine your ‘competence’ in demonstrating the required knowledge and/or skills for each subject. As a result, you will be graded as either Demonstrated or Not yet demonstrated. Your assessor will follow the below process when marking your assignment: •Assess your responses to each question, and sub-parts if applicable, and then determine whether you have demonstrated competence in each question. •Determine if, on a holistic basis, your responses to the questions have demonstrated overall competence. You must be deemed to be demonstrated in all assessment items in order to be awarded the units of competency in this subject, including: •all of the exam questions •the written and oral assignment. ‘Not yet demonstrated’ and resubmissions Should sections of your assignment be marked as ‘not yet demonstrated’ you will be given an additional opportunity to amend your responses so that you can demonstrate your competency to the required level. You must address the assessor’s feedback in your amended responses. You only need amend those sections where the assessor has determined you are ‘not yet demonstrated’. Make changes to your original submission. Use a different text colour for your resubmission. Your assessor will be in a better position to gauge the quality and nature of your changes. Ensure you leave your first assessor’s comments in your assignment, so your second assessor can see the instructions that were originally provided for you. Do not change any comments made by a Kaplan assessor. Units of competency This written assignment is your opportunity to demonstrate your competency against these units: FNSCRD301 Process applications for credit FNSFMB401 Prepare a loan application on behalf of finance or mortgage broking clients FNSFMB402 Identify client needs for broking services FNSFMB403 Present broking options to client FNSFMK505 Comply with financial services legislation and industry codes of practice FNSINC401 Apply principles of professional practice to work in the financial services industry FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector BSBITU306 Design and produce business documents BSBCUS301 Deliver and monitor a services to customers BSBCUS402 Address customer needs FNSSAM403 Prospect for new clients FNSFMB501 Settle applications and loan arrangements in the finance and mortgage broking industry Note that the written and oral assignment is one of two assessments required to meet the requirements of the units of competency. We are here to help If you have any questions about this written assignment you can post your query at the ‘Ask your Tutor’ forum in your subject room. You can expect an answer within 24 hours of your posting from one of our technical advisers or student support staff. Section 1:Case study 1 — Philip and Jennifer Brown Background Philip and Jennifer Brown are a young couple about to buy their first home. They have been married for five years and during that time have rented an apartment while saving for their own home. Following a personal referral from Glenn Brown, Philip’s brother you have already had a first meeting with Philip and Jennifer to discuss their objectives and needs. They admitted they have little time to do much research of lenders, have limited knowledge of the loan products available and have approached you to guide them through the process as they are confused. During (and subsequent) to your first meeting, Philip and Jennifer have provided the basic information documents — pay slips, tax returns, bank statements, property details for review/verification