Case Study 1: Philip and Jennifer Brown

Written Assignment
Certificate IV in Finance and Mortgage
Broking (CIVMB_AS_v4A1)
Student identification
(student to complete)
Please complete the fields shaded grey.
Student number
Written assignment result
(assessor to complete)
Result — first submission (Details for each activity are shown in the table below)
Parts that must be resubmitted:
Result — resubmission (if applicable)
CIVMB_AS_v4A1

Result summary
(assessor to complete)
First submission Resubmission (if
required)
Section 1: Case study 1 —
Philip and Jennifer Brown
Task 1 — 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
Task 6 — Philip and Jennifer’s professional
network
Task 7 — Interest rates
Section 2: Case study 2 —
Richard and Pauline Jackson 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 — External dispute resolution
Task 14 — Effective access to files
Feedback (assessor to complete)
[insert assessor feedback]
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Before you begin
Read everything in this document before you start your assignment for Certificate IV
in Finance and Mortgage Broking (CIVMB_AS_v4A1).
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 — 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
– Task 6 —Philip and Jennifer’s professional network
– 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 — External dispute resolution
– Task 14 — Effective access to files
• Appendix 1: Client information collection tool/Fact Finder.
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 assignment within your enrolment period. Your study plan is in
the KapLearn Certificate IV in Finance and Mortgage Broking (CIVMBv4) subject room.
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Instructions for completing and
submitting this 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_Submissionnumber
(e.g. 12345678_CIVMB_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 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 that may be applicable.
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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.
When you submit your written and oral assignment in KapLearn, the
File submissions
box will list the maximum size for new files and the maximum number of attachments.
Once you submit your written assignment for marking you will be unable to make any
further changes to it.
You are able to submit your written assignment 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 instructions (pdf) in
the Assessment section of KapLearn for details on how to submit 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 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
Competent in one or more assessment items, then an additional 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 (CIVMBv4) 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 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 assignment.
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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 competent or not yet competent.
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 competent in all assessment items in order to be
awarded your qualification, including demonstrating competency in:
• all of the exam questions
• the written and oral assignment.
‘Not yet competent’ and resubmissions
Should 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 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
competent’.
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
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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.
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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. You have now undertaken your preliminary assessment
and need to discuss and present to them the proposal covering the options and your
recommendations. It is important to get the proposal moving quickly, as the agent has
indicated other parties are interested in the property.
They have been looking at properties for the past three months and have found a 10
year old established apartment that has really caught their eye, although they have
some concern over the kitchen which requires some minor renovations.
They have not paid a deposit at this stage, but the Real Estate Agent has provided
some guidance on additional fees and charges.
Following is a summary of the details of the property they wish to purchase, the
couple’s financial and employment details, and the loan features they require.
The property
Address Unit 1, 92 Seaside Lane Edgartown (Your state)
Purchase price $490,000
Description 2 bedroom, 2 bathroom Strata Title apartment
Agent details Stephanie Jones
Phone [phone]
Mobile [phone]
The couple
Current address Unit 12, 22 Wentworth Lane, Highville, (Your
state)
Philip and Jennifer have lived there since March 2012
Home phone [phone]
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