Assignment
Certificate IV in Finance and Mortgage Broking (CIVMB_AS_v3A3)
Student identification (student to complete)
Please complete the fields shaded grey.
Student numbe
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)
Result summary (assessor to complete)
First submission
Resubmission (if required)
Section 1: Case study 1 —
Clinton and Jennifer Andrews
Task 1 — Initial disclosures
Not yet demonstrated
Not yet demonstrated
Task 2 — Gathering and documenting client information
Not yet demonstrated
Not yet demonstrated
Task 3 — Assessing the clients’ situation
Not yet demonstrated
Not yet demonstrated
Task 4 — Using equity
Not yet demonstrated
Not yet demonstrated
Task 5 — Reasonable enquiries
Not yet demonstrated
Not yet demonstrated
Task 6 — Recommendations
Not yet demonstrated
Not yet demonstrated
Task 7 — Clinton and Jennifer’s professional network
Not yet demonstrated
Not yet demonstrated
Task 8 — Interest rates
Not yet demonstrated
Not yet demonstrated
Task 9 — Settlement
Not yet demonstrated
Not yet demonstrated
Section 2: Case study 2 —
Tony and Lo
aine Denton
Task 10 — Establishing level of financial knowledge
Not yet demonstrated
Not yet demonstrated
Task 11 — Responsible lending obligations
Not yet demonstrated
Not yet demonstrated
Task 12 — Self Employed special considerations
Not yet demonstrated
Not yet demonstrated
Task 13 — Advising on strategies
Not yet demonstrated
Not yet demonstrated
Task 14 — Impact of credit history
Not yet demonstrated
Not yet demonstrated
Task 15 — External dispute resolution
Not yet demonstrated
Not yet demonstrated
Task 16 — Effective access to files
Not yet demonstrated
Not yet demonstrated
Feedback (assessor to complete)
[insert assessor feedback]
Before you begin
Read everything in this document before you start your assignment for Certificate IV in Finance and Mortgage Broking (CIVMB_AS_v3A3).
About this document
This document includes the following parts:
• Part 1: Instructions for completing and submitting this assignment
• Section 1: Case study 1 — Clinton and Jennifer Andrews
– 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 Lo
aine 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 plan
We recommend that you use the study plan for this subject; it will help you manage your time effectively and complete the assignment within your enrolment period. Your study plan is in the KapLearn Certificate IV in Finance and Mortgage Broking (CIVMBv3) subject room.
Part 1: Instructions for completing and submitting this assignment
Completing the 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_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 assignment
This assignment is split into 16 Tasks, over 3 Sections. To finish this assignment, you must complete all 16 tasks.
The information and data needed to complete Sections 1 and 2 is presented in case studies at the beginning of those sections.
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.
Submitting the assignment
You must submit the completed assignment in a compatible Microsoft Word document.
You need to save and submit this entire document.
Do not delete
emove 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. Incomplete assignments will be returned to you unmarked.
The maximum file size is 5MB. Once you submit your assignment for marking you will be unable to make 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 process
You have 26 weeks from the date of your enrolment in this subject to submit your completed assignment.
Should your 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 Certificate IV in Finance and Mortgage Broking (CIVMBv3) 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.
How your 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:
• 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.
‘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 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. This way, 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.
We are here to help
If 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 assignment
If 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 answer guidance. Please ensure that your questions are about clarification of the intent of an assignment question.
After your assignment has been assessed
If you have questions about your assessor’s feedback, please email: < XXXXXXXXXX> and include a copy of your assessed assignment. Never post your assignment answers or assessor comments in the ‘Ask Your Tutor’ forum.
Section 1: Case study 1 — Clinton and Jennifer Andrews
Background
Clinton and Jennifer Andrews live in Sydney with their two school-age children. They bought their home 15 years 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 co
ect leverage to purchase more than one investment property. Consequently, they have decided to bo
ow 90% LVR on the investment property plus the LMI. The deposit, stamp duties and other costs will come from their ‘offset account’ attached to their home loan. They have requested not to use their cu
ent 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 a
ange 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 property
Address:
29 Pacific Drive, Ipswich, Queensland 4305
Purchase price:
$450,000
Description:
4-bedroom
ick veneer home
Rent:
$450.00 per week
Agent details:
Rain and Hall
Phone:
XXXXXXXXXX
Mobile:
XXXXXXXXXX
The bo
ower’s home address
Cu
ent address:
17 Moss Ave, East Hills, NSW 2213
Description:
5-bedroom full
ick home
Value:
$850,000
Mortgage:
$190,000
Monthly repayment:
$1,020.00 per month
Home phone:
XXXXXXXXXX
Clients’ view of funding requirements
Purchase price:
$450,000
Estimated costs:
$20,000
Total required:
$470,000
Loan:
$405,000 + LMI
Own contribution:
$65,000
Assets
Big Bank offset savings account (joint)
$180,000
Little Bank fixed term account (joint)
$10,000
Ford Falcon G6, 8 years old (Clinton)
$15,000
Holden Barina, 10 years old (Jennifer)
$5,000
Superannuation — MPA Insurance (Clinton)
$82,000
Superannuation — CLM Insurance (Jennifer)
$54,000
Household effects (insured value)
$80,000
Liabilities
Big 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 a
angements. In relation to the credit card debt, the minimum monthly commitment for servicing purposes should be calculated at 3% of the credit limit.
Income/employment
Clinton (date of birth 24/5/84)
Position:
Project Manager (full time)
Employer:
ACM Construction
10 Wide Rd, Ryde, NSW
Phone:
XXXXXXXXXX
Income (gross):
$85,000 p.a., gross monthly income of $7,083, net monthly income of $5,476
Employer contact:
Kelly Williams, HR Manage
Length of service:
16 years
Driver’s licence:
8869KL
Email:
XXXXXXXXXX
Jennifer (date of birth 8/10/87)
Position:
Accounts Assistant (full time)
Employer:
Pretty Clothing Pty Ltd
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