Assignment Certificate Iv In Finance And Mortgage Broking
61 Pages15658 Words618 Views
Added on 2020-02-24
Assignment Certificate Iv In Finance And Mortgage Broking
Added on 2020-02-24
ShareRelated Documents
AssignmentCertificate IV in Finance and Mortgage Broking(CIVMB_AS_v3A3)Student identification(student to complete)Please complete the fields shaded grey.Student number10470051Assignment result (assessor to complete)Result — first submission (Details for each activity are shown in the table below)Not Yet Competent Parts that must be resubmitted:1, 2, 3.1, 3.2, 6.1, 7.1,11.3, 11.4, 14.1 and 14.4Result — resubmission (if applicable)CIVMB_AS_v3A3
Result summary(assessor to complete)First submissionResubmission (if required)Section1:Casestudy1—ClintonandJenniferAndrewsTask 1— Initial disclosuresTask 2 — Gathering and documenting client informationTask 3 — Assessing the clients’ situationTask 4 — Using equityTask 5 — Reasonable enquiriesTask 6 — RecommendationsTask 7 — Clinton and Jennifer’s professional networkTask 8 — Interest ratesTask 9— SettlementSection2:Casestudy2—TonyandLorraineDentonTask 10 — Establishing level of financial knowledgeTask 11 — Responsible lending obligationsTask 12 — Self Employed special considerationsTask 13 — Advising on strategiesTask 14 — Impact of credit historyTask 15 — External dispute resolutionTask 16 — Effective access to filesFeedback (assessor to complete)Fair work for the first attempt and to finalise this assignment, please review the feedback for Tasks 1, 2, 3.1,3.2, 6.1, 7.1, 11.3, 11.4, 14.1 & 14.4 and then resubmit for further assessment. You might also like to review the feedback for Tasks 6.2b, 8.3, 11.2 and 12.1 as well but you do not have to resubmit these Tasks.Page 2 of 61
Before you beginRead everything in this document before you start your assignment forCertificate IV in Finance and Mortgage Broking (CIVMB_AS_v3A3).About this documentThis document includes the following parts:•Part 1: Instructions for completing and submitting this assignment•Section 1: Case study 1 — Clinton and JenniferAndrews–Task 1 — Initial disclosures–Task 2 — Gathering and documenting client information–Task 3 — Assessing the clients’ situation–Task 4 — Using equity–Task 5 — Reasonable enquiries–Task 6 — Recommendations–Task 7 — Clinton and Jennifer’s professional network–Task 8 — Interest rates–Task 9 — Settlement•Section 2: Case study 2 — Tony and Lorraine Denton–Task 10 — Establishing level of financial knowledge–Task 11 — Responsible lending obligations–Task 12 — Self Employed special considerations–Task 13 — Advising on strategies–Task 14 — Impact of credit history–Task 15 — External dispute resolution–Task 16 — Effective access to files•Appendix 1:Client information collection tool/Fact Finder.•Appendix 2:Serviceability calculator.How to use the study planWe recommend that you use the study plan for this subject; it will help you manage your time effectivelyand complete theassignment within your enrolment period. Your study plan is in the KapLearnCertificateIV in Finance and Mortgage Broking (CIVMBv3) subjectroom.Page 3 of 61
Part 1: Instructions for completing and submitti ng thisassignmentCompleting the assignmentSaving your workDownload 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_Submissionnumber(e.g. 12345678_CIVMBv3A3_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.The assignmentThis assignment is split into 16 Tasks, over 3 Sections. To finish this assignment, you must complete all16tasks.The information and data needed to complete Sections 1 and 2 is presented in case studies at the beginning of those sections.Word countThe 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 researchWhen completing the Client Information Collection Tool in Appendix 1, assumptions are permitted, although they must not be in conflict with the information provided in the Case Study.You may also be required to source 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 thatmay be applicable.Page 4 of 61
Submitti ng the assignmentYou must submit the completed assignment in acompatible Microsoft Word document.You need to saveand submit this entire document. Do not delete/remove any sections of the document template.Do not save your completed assignment as a PDF.The assignment must be completed before submitting it to Kaplan Professional Education. Incompleteassignments will be returned to you unmarked.The maximum file size is 5MB. Once you submit your assignment for marking you will be unable tomake any further changes to it. You are able to submit your assignment earlier than the deadline if you are confident you have completed all parts and have prepared a quality submission.The assignment marking processYou have 26 weeks from the date of your enrolment in this subject to submit your completedassignment. Shouldyour assignment be deemed ‘not yet competent’ you will be given an additional four (4) weeks to resubmit your assignment.Your assessor will mark your assignment and return it to you in the CertificateIV in Finance and MortgageBroking (CIVMBv3)subject room inKapLearn under the ‘Assessment’ tab.Make a reasonable attemptYou must demonstrate that you have made a reasonable attempt to answer all of the questions in yourassignment. Failure to do so will mean that your assignment will not be accepted for marking; thereforeyou 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 assignment.How your assignment is gradedAssignment 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 competent or not yet competent.Your assessor will follow the below process when marking your assignment:•Assessing your responses to each question (and sub-parts if applicable)then determining whether you have demonstrated competence in each question. •Determining if, on a holistic basis, your responses to the questions have demonstrated overall competence.Page 5 of 61
‘Not yet competent’ and resubmissionsShould sections of your assignment be marked as ‘not yet competent’ you will be given an additional opportunity to amend your responses so that you can demonstrate your competency to the requiredlevel.You must address the assessor’s feedback in your amended responses. You only need to amend those sections where the assessor has determined you are ‘not yet competent’. When making changes to your original submission, use a different text colour for your resubmission.Thisway, yourassessor will be in a better position to gauge the quality and nature of your changes. Ensureyou 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 Kaplanassessor.We are here to helpIf you have any questions about this assignment you can post your query at the ‘Ask your Tutor’ forum in your subject room. Before you submit your assignmentIf you have any queries about the assignment questions, please use the ‘Ask your Tutor’ forum in your subject room. You can expect an answer from your Tutor within 24 hours of posting your question.Remember, your online tutor cannot preview or check your assignment answers, or provide specific answerguidance. Please ensure that your questions are about clarification of the intent of an assignment question.After your assignment has been assessedIf you have questions about your assessor’s feedback, please email:<studentadviser@kaplan.edu.au>andinclude a copy of your assessed assignment. Never post your assignment answers or assessor comments in the ‘Ask Your Tutor’ forum.Page 6 of 61
Section 1: Case study 1 — Clinton and Jennifer AndrewsBackgroundClinton and Jennifer Andrews live in Sydney with their two school-age children. Theybought their home 15years ago. With the rise in its value over time they have generated substantial equity and have decided to purchase an investment property. Recently they went to a real estate seminar where the presenter explained that it is possible with correct leverage to purchase more than one investment property.Consequently,they have decided to borrow 90% LVR on the investment property plus the LMI. Thedeposit, stamp duties and other costs will come from their ‘offset account’ attached to their home loan.Theyhave requested not to use their current lender.After conducting research over the last six months they have decided to purchase a new four-bedroom home in outer Brisbane for $450,000 with a rental income of $450.00 per week. The real estate agent has recommended they contact you to arrange their finance.Their accountant has been providing some advice in relation to negative gearing benefits.The following tables are a summary of the details obtained from the couple during the fact find interview. The details provided include a description of the property they wish to purchase, their financial and employment details and the loan features that they require.The investment propertyAddress:29PacificDrive, Ipswich, Queensland 4305Purchase price:$450,000Description:4-bedroombrick veneer homeRent:$450.00 per weekAgent details:Rain and HallPhone:07 9322 1113Mobile:0412 880 088The borrower’s home addressCurrent address:17 Moss Ave, East Hills, NSW 2213Description:5-bedroom full brick home Value:$850,000Mortgage:$190,000Monthly repayment:$1,020.00 per month Home phone:02 6051 2121Clients’ view of funding requirementsPurchase price:$450,000Estimated costs:$20,000Total required:$470,000Loan:$405,000 + LMIOwn contribution:$65,000Page 7 of 61
AssetsBig Bank offset savings account (joint)$180,000Little Bank fixed term account (joint)$10,000FordFalcon G6, 8 years old (Clinton)$15,000Holden Barina, 10 years old (Jennifer)$5,000Superannuation — MPAInsurance (Clinton)$82,000Superannuation — CLMInsurance (Jennifer)$54,000Household effects (insured value)$80,000LiabilitiesBig Bank standard home loan (Joint)(P&I repayment, variable, no fees)5.0%$190,000(repayments $1,020 p.m.)Big Bank Visa card (Clinton)18.5%$800(limit $5,000) (clears monthly)Little Bank Visa card (Jennifer)12.9%$1,200(limit $3,000) (pays $500 per month)All debts have been repaid according to arrangements. In relation to the credit card debt, theminimum monthly commitment for servicing purposes should be calculated at 3% of the credit limit.Income/employmentClinton (date of birth 24/5/84)Position:Project Manager (full time)Employer:ACM Construction10 Wide Rd, Ryde, NSWPhone:02 7061 2111Income (gross):$85,000 p.a., gross monthly income of $7,083, net monthly income of $5,476Employer contact:KellyWilliams, HR ManagerLength of service:16 yearsDriver’s licence:8869KLEmail:clinta@acm.com.auJennifer (date of birth 8/10/87)Position:Accounts Assistant (full time)Employer:Pretty Clothing Pty Ltd80 High Street, Penrith, NSWPhone:02 9940 3677Income (gross):$74,000 p.a., gross monthly income of $6,166, net monthly income of $4,837Employer contact:JoanCollins, HR ManagerLength of service:7 yearsDriver’s licence:2897HTEmail:Jennya@pc.com.auPage 8 of 61
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Certificate IV in Finance and Mortgage Broking Assignmentlg...
|69
|18731
|128
Certificate IV in Finance and Mortgage Brokinglg...
|57
|13844
|120
Assignment : Certificate IV in Finance and Mortgage Brokinglg...
|59
|15591
|89
Certificate IV in Finance and Mortgage Broking (CIVMB_AS_v3A3) Student Identificationlg...
|58
|14633
|472
Certificate IV in Finance and Mortgage Broking - Assignmentlg...
|57
|15464
|349
Assignment: Certificate IV in Finance and Mortgage Brokinglg...
|60
|16095
|158