Course Description
Personal Finance II gives the student a broad understanding of personal financial planning issues and techniques. The course will require the student to analyze client financial situations and plans, and give informed advice on moderately complex personal financial planning scenarios. Technical knowledge areas will include debt, insurance, investment, with emphasis on financial analysis, insurance, retirement, estate planning and taxation.
Course Content
1. Financial planning using FP Canada assumptions
2. Financial analysis using TVM calculations
3. Tax planning fundamentals in financial planning
4. Business and family law as it relates to financial planning scenarios
6. Accident and sickness insurance, and group insurance
7. Life insurance for short term and estate planning
8. Investment fundamentals and appropriate investment asset allocation
9. Applications of segregated funds and annuities in retirement planning
10. Application of professional ethics in financial planning
Learning Activities
Lecture, seminar, and online. This course focusses on the development and presentation of professional financial planning advice. It will be interactive and make use of cases, supplementary materials, and class presentations.
Means of Assessment
Assessment will be based on course objectives and will be carried out in accordance with the Douglas College Evaluation Policy.
|
Assignment(s) or case(s)
|
10% - 30%
|
|
Tests or Midterm exams
|
40% - 60%
|
|
Final Exam
|
30% - 40%
|
|
TOTAL
|
100%
|
No single assessment will be worth more than 40%.
Students must achieve a minimum grade of 50% on the combined invigilated components to pass the course.
Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.
Learning Outcomes
Upon completion of the course, a successful student will be able to:
1. Prioritize personal financial goals and prepare statements for moderately complex financial planning scenarios
2. Incorporate life, disability and other risk management strategies in financial planning scenarios
3. Incorporate debt management, asset management, risk management and tax planning strategies that allow investors to reach retirement and estate planning goals in moderately complicated financial planning scenarios
4. Integrate government benefit programs such as CPP, OAS, RRSPs, RESPs, RDSPs and TFSAs as well as pensions and investment planning into moderately complicated retirement and estate planning recommendations
5. Provide advice on personal investment management
6. Explain the role of law and fair and ethical business practices in preparing a personal financial plan
7. Demonstrate application of the Certified Financial Planning Code of Ethics
Textbook Materials
Textbooks and materials to be purchased by students may be chosen from:
Institute of Financial Services Educators (IFSE) LLQP Common Law materials, or
The Canadian Institute of Financial Planning Risk Management and Estate materials or
Retirement and Estate Planning in Canada, Coleen Clarke, Captus Press, Latest Canadian Edition
References:
Madura and Gill, Personal Finance, Latest Canadian Edition, Pearson
KPMG Tax Planning for Canadians, latest edition
All textbooks are subject to change with approval of the department.
Calculator: Texas Instruments BA II Plus or as approved by Department.