Viewing Unit History

The information below is relevant from 27/10/2014 to 05/11/2017
Click Here to view current information

FINC11001 - Fundamentals of Personal Financial Planning

General Information

Unit Synopsis

In this unit students will be introduced to the fundamentals of the financial planning process, legal framework and the responsibilities of planners. This unit will also expose students to wealth creation, planning for retirement, estate planning and also family and social security issues.

Details

Level Undergraduate
Unit Level 1
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites There are no pre-requisites for the unit.

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 3 - 2014

Term 2 - 2017 Profile
Distance
Term 2 - 2018 Profile
Distance
Term 2 - 2019 Profile
Online
Term 1 - 2020 Profile
Online
Term 2 - 2020 Profile
Online
Term 1 - 2021 Profile
Online
Term 2 - 2021 Profile
Online
Term 1 - 2022 Profile
Online
Term 2 - 2022 Profile
Online
Term 1 - 2023 Profile
Online
Term 2 - 2023 Profile
Online
Term 1 - 2024 Profile
Online
Term 2 - 2024 Profile
Online

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Assessment Tasks

Assessment Task Weighting
1. Written Assessment 20%
2. Practical and Written Assessment 20%
3. Examination 60%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%).

Consult the University’s Grades and Results Policy for more details of interim results and final grades

Past Exams

To view Past Exams,
please login
Previous Feedback

Term 1 - 2023 : The overall satisfaction for students in the last offering of this course was 81.82% (`Agree` and `Strongly Agree` responses), based on a 39.29% response rate.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Source: Student evaluation
Feedback
Some students found the work integrated learning partially completed Assessment 2 - Statement of Advice (financial plan) assessment template too daunting and one student wanted the template to only include the sections that are required to be filled out.
Recommendation
The request to simplify the assessment by only including sections that the student needs to fill is no longer simulating a simplistic version of the real world or preparing students for the real world of financial advice. However, to further support students cope with the assessment, the unit coordinator will make additional recordings focussing on each section of the Assessment template in more detail.
Action Taken
Additional weekly support and pre-recorded and live workshop recordings were made available to support students deal with what they perceive as a daunting work-integrated assessment.
Source: Student evaluation
Feedback
Some guidelines on how to correctly cite and reference through this specific assignment would have been helpful.
Recommendation
Although the orientation video points out where students are to find resources for their assessments, like the correct citation and referencing style, the unit coordinator will try and improve the design of the Moodle site to make to make it clear where the resources are to be found.
Action Taken
Citation resources are now clearly marked under sub-headings within the Assessment tile.
Source: Student evaluation
Feedback
Content needs to be revised and updated where possible as the students find it leads to unnecessary workloads and confusion
Recommendation
Unit coordinator will revise the content by removing the textbook resource and replace with Study Guides and Overhead slides that can serve as learning resources.
Action Taken
Outdated prescribed textbooks have been removed, and replaced with weekly study notes incorporated into the weekly overhead slides, weekly slide handouts, weekly workbooks and weekly study guides.
Source: Student evaluation
Feedback
Students want a lecture video as well that goes for 30 to 40 minutes.
Recommendation
Unit coordinator will revise how the content is delivered via a video.
Action Taken
Students were provided with a weekly video recording plus weekly live and recorded workshops
Source: Student Evaluations
Feedback
The volume of content and resources can be overwhelming.
Recommendation
Continue to review and reduce the volume of content and resources as far as possible without compromising the integrity of the unit.
Action Taken
Nil.
Source: Student Evaluations
Feedback
More flexibility for people not able to attend live lectures.
Recommendation
Provide students who cannot attend the live online workshops, not only the pre-recorded workshop recordings, but opportunity to do one-on-one Zoom sessions at other times of eh week.
Action Taken
Nil.
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Explain the process of financial planning
  2. Explain the Australian legal framework within which financial planners operate and their legal responsibilities
  3. Assess the universe of assets available to Australians and their performance in the past
  4. Explain the operation of superannuation
  5. Analyse the manipulation of income streams
  6. Analyse estate planning and how social security payments may be affected by different income streams

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5 6
1 - Written Assessment
2 - Practical and Written Assessment
3 - Examination
Alignment of Graduate Attributes to Learning Outcomes
Introductory Level
Intermediate Level
Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4 5 6
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
6 - Information Technology Competence
7 - Cross Cultural Competence
8 - Ethical practice
Alignment of Assessment Tasks to Graduate Attributes
Introductory Level
Intermediate Level
Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10
1 - Written Assessment
2 - Practical and Written Assessment
3 - Examination