Business and Economics

Unit Guide

Pension and financial

SYNOPSIS: Topics covered include superannuation economics and demographics, industry
structure and regulation, products available from fund managers, life offices and superannuation
trusts, actuarial mathematics, the mortality table, factors affecting selection, endowments,
assurances, single, joint and longest life annuities, application to comparative evaluation of
commercial retirement products, financial planners and the financial planning function, accreditation,
responsibilities and duties, determination of client objectives and risk profiles, and strategies for
superannuation and social security
Mode of delivery:



This is a six credit point unit with three hours class contact per week over
12 teaching weeks. It is expected that you will spend, on average, nine
hours in self-directed study each week, in addition to the three hours of
class contact. Self-directed study for a particular unit may exceed nine
hours during weeks preceding an in-semester test, submission of a major
assignment or final examination.





Chief examiner:

Professor Phillip Gray




Tony Cusack


Co-ordinating Tutor:

Elizabeth Ooi







Malaysia  South Africa  Italy  India

ACADEMIC OVERVIEW Learning objectives The learning goals associated with this unit are to: 1. securities and managed investments 4. 27 September (Week 9) 25% Final Examination (3 hours) Official Examination Period 70% TOTAL 100% Hurdle requirement There is a hurdle requirement for this unit. If you fail the unit solely because of failure to satisfy the hurdle requirement. critical and creative scholars who: a) produce innovative solutions to problems b) apply research skills to a range of challenges c) communicate perceptively and effectively Assessment summary ASSESSMENT TASK DUE DATE VALUE Mid-semester test Week 6 5% Preparation of a financial plan 5:00pm Friday. financial planning. apply critical thinking. Copyright © Monash University 2013 2 . and legal compliance requirements for financial planners 2. describe financial planning activities. a mark of 48N will be determined by the faculty's Board of Examiners on the recommendation of the unit's Chief Examiner. demonstrate specialist skills required for interaction with financial planning clients 3. problem solving and presentation skills to individual and/or group activities dealing with pension and financial planning and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFC3440. prepare financial plans for clients with different financial objectives 5. together with specialist knowledge in the areas of superannuation. The learning outcomes of this unit require you to demonstrate a comprehensive understanding of the topics covered in the unit. responsible and effective global citizens who: a) engage in an internationalised world b) exhibit cross-cultural competence c) demonstrate ethical values 2. Graduate attributes Monash prepares its graduates to be: 1. Hence the hurdle requirement for this unit requires that you must attain a mark of at least 50% in the final examination. demonstrate generic knowledge of the Australian and global investment environments.

Whereas 48N does not provide any indication of the mark attained in the final examination other than a mark less than 50% was awarded. The following example should make the application of the hurdle requirement clear. While tutorials provide an opportunity for you to demonstrate the application of your knowledge and skills there is also an opportunity for you to ask the tutor to clarify your understanding of the topics and associated concepts covered to Return of final marks for the unit Faculty policy states that ‘the final mark that a student receives for a unit will be determined by the Board of Examiners on the recommendation of the Chief Examiner taking into account all aspects of assessment’. that piece of work will be marked again by a second examiner who will independently evaluate the In Semester The tutorials provide an opportunity for you and your peers to discuss the current topic(s) and to compare your completed assessment tasks with other students’ work and/or model answers. For 2012 your results will be accessible through my. The final mark for this unit will be released on the date nominated in the University's Principal Dates Calendar found at: http://www. Exam viewing Feedback on student performance in examinations and other end-of-semester assessment is required.The outcome from application of the hurdle requirement is often misunderstood by students who are awarded 48N.html. You will not be awarded a fail grade for an assessment task or unit without a second examiner confirming the result. The lectures will not cover every aspect of each topic listed in the Unit Schedule on pages 6 to 9 as you are expected to acquire a comprehensive understanding by undertaking the prescribed and recommended reading and by completing the week-by-week tutorial activities and other in-semester assessment portal at URL: https://my. and consult with the first examiner. Note: Exceptions to this are individual pieces of assessment contributing 10% or less of the final mark. please see the following URL: http://www. in accordance with the University procedures on Unit Assessment. unless the total of such pieces exceeds 30% of the final mark. In general you are expected to spend two to three hours of self-directed study for each hour in class. Learning and teaching approach This unit will be taught as a two-hour lecture and a one-hour tutorial each week for 12 weeks. A student enrolled in this unit might achieve 24 out of 30 for their in-semester assessment and 30 out of 70 for the final examination. 9 December 2013.buseco. Consequently a mark of 48N will be determined by the faculty's Board of Examiners on the recommendation of the unit's Chief Examiner. some students mistakenly believe that 48N means they failed the final examination by two marks and that a second re-mark of their examination paper might find two extra marks. You are expected to attend all lectures and tutorials. The benefit of such discussions will be enhanced if you have completed relevant prescribed and recommended reading and/or started or completed the current assessment task(s). Second marking Where an assessment task is given a fail grade by an examiner. While the overall total of these marks is 54P the final examination mark is five marks below the required 50%. In this unit 30% of the assessment regime is allocated to in-semester assessment and 70% to the final 3-hour examination. Some of this time should be devoted to discussions with other students. For more on Monday. The prescribed and recommended Copyright © Monash University 2013 3 .

monash. These resources will enable you to develop a mastery of the topics covered by the unit.  attempting relevant questions from past final examination papers and in-semester tests. If you wish to view previous Unit Evaluation Reports. and reduction of the amount and modification of the nature of unit material used. and  revision of the semester's work during the SWOT-Vac and prior to the final education and management.policy. At a minimum this should involve:  reading prescribed and selected recommended material prior to attending lectures. Copyright © Monash University 2013 4 . you need to manage your time and studies in a systematic way. One of the key formal ways students have to provide feedback is through Student Evaluation of Teacher and Unit (SETU). which changes continuously. You are encouraged to complete the including: ongoing provision of up-to-date superannuation legislation.readings are listed in this guide and on the unit's Moodle website.  discussions with past and present students. Feedback Our feedback to you Students will be provided with feedback in the following manner:  written comments on the group financial plan  individual and class feedback in tutorials Your feedback to us Monash University's statement of purpose endorses its commitment to excellence in research and The feedback is anonymous and provides the department and faculty with evidence which underlies and enables continuous improvement. The Moodle website provides access to material including past examination papers and model answers.html and for the University's Student Evaluation Policy go to URL: http://www. employers and For Monash University’s statement of purpose go to URL: enabling immediate employment prospects in financial services • it reinforces finance concepts from previous The University’s student evaluation policy requires that every unit is evaluated each year. Student feedback has also contributed to continuous improvements.  completing week-by-week tutorial activities tasks prior to attending tutorials. Previous student evaluations of this unit Student feedback has highlighted the following strengths in this unit: • it gives them an industry accreditation. The University regularly seeks feedback from students. To ensure a high probability of successfully completing this unit. please go to URL: https://emuapps.

Virtual learning environment (VLE): Moodle Material used in class together with other information of importance to you will be published online via the unit’s site on Moodle. However. Calculators Electronic devices (including calculators) are not permitted in tests and examinations in this unit unless identified with an “approved for use” label. These labels are available from:  Caulfield Campus: Accounting and Finance Reception Desk (Building (2012). which is the faculty's student guide for producing quality work on time. CCH.buseco. any serious student of business should read The Australian Financial Review daily. In order to access information about this unit in Moodle you must be enrolled in the unit and have a valid student account with authorised username and The Australian master financial planning guide 2012/13 (15th ed. Q Manual Work submitted for assessment must be consistent with the guidelines set down in the Q Manual. Superannuation legislation changed very significantly during 2007 with consequential changes in superannuation and financial planning strategies in subsequent Earlier editions of the CCH text are not acceptable.). Moodle is accessed through my monash portal at URL: https://my.Required resources Prescribed text available from the University Bookshop Level 10) Recommended resources Recommended texts and readings Additional references will be provided in lectures. Level 3)  Clayton Campus: Accounting and Finance General Office (Building 11. When you log in to It is available at Clayton campus bookshop at portal you access Moodle in the “home page” by clicking on the Moodle 2 link under "Online systems".au/. Copies of this manual can be purchased at the bookshop or accessed online at URL: http://www. Note that only this edition can be taken into the examination. Copyright © Monash University 2013 5 .

Financial planning industry in Australia 4. disclosure 7. Role playing groups formed. Role playing in tutes to commence. retirement) 3. transition to retirement. Assignment details. 2 6 AUG Topic 2: Australia’s private pension scheme: The Superannuation Guarantee Scheme (SGS) 1.UNIT SCHEDULE WEEK BEGIN SYLLABUS WEEKLY ACTIVITIES ORIENTATION WEEK 21 – 26 JULY 1 29 JUL Topic 1: Pension and financial planning in Australia 1. Note that you are expected to understand and recall all abbreviations and acronyms – “customs and usages” – used in the finance industry. tutes 1 and 2. 3 12 AUG Topic 3: Financial plans. Know your client. fair trading. Copyright © Monash University 2013 6 . privacy. Need for a nationally coordinated scheme 2. Advisers and their role 5. know your product 8. Legislative landscape for three phases of super (accumulation. ASIC compliance requirements for financial planners 2. tute 1. skills through roleplaying 3. PDS 9. and assignment requirements 1. compliance issues Read Topic 3 and references therein. Documentation. Taxation of super after ‘Simpler Super’ 4. Nature of financial planning 5. complaints tutes 2 and 3. FSG. Pension plans in other countries Read Topic 1 notes and references therein. Administrative matters including RG 146 compliance details for financial advisers 3. Compliance requirements for advisers Read Topic 2 notes and references therein. Devising a Financial Plan: Assignment 6. Compliance – an overview 4. ethics and professional standards 6. Fiduciary duty. Licensing. Compliance. Introduction to pension schemes 2. SoA.

use of an actuarial basis to price life annuities 7 9 SEP Topic 6: continued Read Topic 6 and references therein. Outline of TTR concept 2. Characteristics and comparative costs of tutes 5 and 6 the different RIS options. Role playing in tutes. 1. portfolio theory. withdrawal of benefits. 4. Economic factors affecting securities markets 3. asset class performance tutes 4 and 5.4 19 AUG Topic 4: Social security. Social security. the age pension and super. Review of investment and portfolio theory. Characteristics and comparative costs of the different RIS options. Funding retirement:  what are retirees doing to fund retirement?  the fixed income market. Read Topic 5 and references therein. Taxation of retirement lump sums and pensions 3. 4. taxation 5 26 AUG Topic 5: Revision of investment concepts. tutes 3 and 4. How is MVE affected by financial market meltdown (‘GFC’)? By current volatility? Topic 6: Transition to retirement. a useful benchmark. & the MVE strategy. age pension and super 1. operation of securities markets 2. and managed funds. Role playing in tutes. retirement Read Topic 6 and references therein. Role playing in tutes. 6 2 SEP Read Topic 4 and references therein. stream options 1. retirement income tutes 5 and 6. 4. Application of MVE (case study) 5. Application of fundamentals to develop new theory for optimal conversion of a lump sum to an income stream: Meanvariance efficient (MVE) strategies. use of an actuarial basis to price life annuities Copyright © Monash University 2013 7 .

trustee duties. SMSFs and SAFs 5. establishing a fund: chores and costs. 7. What it means to be in a couple IN-SEMESTER BREAK 30 SEPTEMBER – 4 OCTOBER Copyright © Monash University 2013 8 . SGS to run in tandem with Centrelink indefinitely 2.8 16 SEP Topic 7: Small Funds: Self Managed Read Topic 7 and references therein. Read Topic 8 and references therein. 3. investment. Government assistance B. Divorce and Family Breakdown 1. Family breakdown tutes 7 and 8. Cost of raising and education of children 3. Devising an investment strategy 9. Planning for the Family Assignment due at the end of this week (by COB Friday. More and more retirees turning to use of their own small funds – what are the perceived benefits? 4. Family Court approach to property settlement 3. Budget planning 2. ATO. Five people who run their own small fund 6. 1. CGT and stamp duty on transfer of assets between divorcing parties 4. Trust deed. Binding financial agreements 5. SISA. Role playing in tutes. Role playing in tutes. 8. A. Effect of Global Financial Crisis on management of small funds 9 23 SEP Topic 8: A. taxation. Complexity of family financial arrangements 2. compared with what is generally available. How retirees survive financially. Superannuation Funds (SMSFs) and Small tutes 6 and 7. Survey results on what is needed for financial adequacy in retirement. Use of a SMSF in Estate planning 10. Child and spouse maintenance 6. Rules governing small funds. 21 September). Planning for the family & B. APRA Funds (SAFs) 1.

Life Insurance 1. With profits policies B. Standard / qualified premiums 5. Miscellaneous. Superannuation and estate planning 8. Changing demand for products 8. Family provision legislation 4. Estate planning vehicles 6. tutes 9 and 10 REVISION REVISION SWOT-VAC: 28 OCTOBER – 1 NOVEMBER OFFICIAL EXAMINATION PERIOD: 4 NOVEMBER – 22 NOVEMBER EXAMINATION RESULTS RELEASED: MONDAY 9 DECEMBER Copyright © Monash University 2013 9 . Control during the client’s lifetime 3. Features of life insurance products. Underwriting – fat and thin tailed risk 8.Topic 9: Estate Planning 1. Aspects of policy ownership. Making a claim 7. 10 7 OCT 11 14 OCT Topic 10: Asset Protection A. Role of Legal Personal Representative 7. ASIC requirements for specialist knowledge in life insurance 2. ASIC requirements for specialist knowledge in general insurance 2. General Insurance 1. Tax implications on death 9. making a claim 6. standard and impaired lives 5. Evolution of new products 12 21 OCT Read Topic 9 and references therein. Estate planning implications for social security recipients 10. Taxation 6. The importance of estate planning 2. tutes 8 and 9 Read Topic 10 and references therein. Intestacy and letters of administration 5. Life underwriting 7. disposal of private companies. Types of general insurance product 3. death trusts. Life insurance markets 4. It’s all about contracts! 4. Business succession planning 11. Asset protection by protecting/affirming ownership 3.

outlining main features of different strategies.  Document 2 (for Task 2) is a Statement of Advice for the clients.  Document 1 (for Task 1) involves answers to questions. while task 3 is a group as explained below and encapsulated in Document 1.  The third task involves Role Playing designed to focus on Planner’s interaction with clients.000 super assets in a Date: Week 6 Assessment Task 2: Investment Concepts and Preparation of Financial Plan Weighting: 25%. You will be assigned to groups in tutes for this purpose. The tasks are specifically designed to meet ASIC RG 146 compliance requirements in the specialist knowledge category of Financial Planning and Skills. You must provide two documents. Due date: 5:00pm Friday. Tasks 1 and 2 are individual assignments. The assets are invested with approximately 50% in dividend producing shares (three banks.buseco. Task details: The assignment has three sub-tasks. a Statement of Advice (SoA). and is conducted in tutes. Penalty for late lodgement Late submissions without an approved extension will not be accepted. A penalty of 100% of the total mark allocated to this assessment task will be deducted if the assignment is not handed in by the due date. However it involves a preliminary TASK (Finance questions and Assignment) Assessment Task 1: Mid-semester test Weighting: 5%. 27 September (Week 9) Extensions of time Applications for an extension of time allocated to an assessment task must be made by completing the application form found at URL http://www. Task 1: 8 marks Document 1: Answering finance questions. Learning objectives assessed: This assignment is designed to test your achievement of learning objectives 1 and 3. 4 and 5. A primary objective of the assignment is to ensure that you are aware of all the compliance issues attaching to any financial plan. You are required to construct a financial plan for clients – that is. A retiree couple both aged 65 have $650. Telstra) and 50% in Comsec’s Cash Copyright © Monash University 2013 10 . The form must be submitted to the Chief Examiner for approval. Learning objectives assessed: This assignment is designed to test your achievement of learning objectives 2.

are financially independent of them. the Age Pension is the principal source of retirement income. Note that all these shares pay fully franked dividends. amount of starting annual annuity) for the following strategy: Spend $600. The couple frequently trade the daily volatility with their bank shares.50 per share  5000 WBC fully paid ordinary shares @ $22. and payable monthly in arrears. On the basis of the couples’ equity holdings (and implied cash flow) can the couple obtain any Age Pension now? If so. The annuity is indexed at 3% p.account (paying 5% p. and (ii) provide evidence for the long-term expected investment yield on the All Ordinaries Accumulation index in order to provide accurate information about this strategy.035 with g = 0. Provide details (cost. and their married children. and consult you for assistance in determining a suitable retirement income stream strategy.00 per share  5000 NAB fully paid ordinary shares @ $24. Explain the meaning of this. son and daughter.000 in lifestyle assets. for about two-thirds of Australian retirees. Give consideration to the notion that this retirement income portfolio (taking the cash holding into account) may be difficult to improve upon! 3. Some retirees use an investment portfolio and take pension by ‘drawdown’. Provide details about use of the following strategy (annuity cost. What might you conclude about this couples’ attitude to risk? 2. have $100. these holdings change frequently as they actively trade the day volatility on the ASX. It has zero residual value. How does use of higher indexation (compare g = 0. What sort of attitude to risk is likely to be associated with such a strategy? 5. how much? Currently.000 is invested in an All Ordinaries Accumulation Index Fund over the guaranteed income years to provide emergency capital or capital in the event the retiree outlives the 30-year annuity. What sort risk profile is implied by use of this strategy? 6. The annuity is indexed at 3% p. They are just embarking on retirement.a.).32 per share. annuity starting amount): Implement a Mean-Variance Efficient (MVE) strategy with an annuity period of eleven years. What total net annual income (approximately) does their current portfolio provide if their equity holding benchmarks are as follows?  2000 ANZ Fully paid ordinary shares @ $23. where some comparisons with drawdown are made. The remaining $50. Why not trade the day-to-day volatility on their Telstra shares? 4.a. They own their home. Find the value of 2011/2012 FY dividends for each company. The class of MVE strategies is discussed in detail in Topic 5 notes. Copyright © Monash University 2013 11 . You will need to: (i) find the yield on annuity purchase price currently being offered by Challenger to provide accurate information about this option. What does this mean? Give an example of such a trade. Questions: 1. and payable monthly in arrears.03) affect the implementation of the MVE strategy? 7.00 per share  14000 TLS fully paid ordinary shares @ $3.a. However.000 on a Challenger Financial Services indexed guaranteed annuity of 30 years.

 contain a declaration of any associations.  have a definite initial timeframe in signed and dated). A statement to the effect that the financial planner is specifically qualified to provide advice to trustees of SMSFs. a statement confirming that a Financial Services Guide (FSG) was given to clients at the earliest opportunity (and your financial plan contains a copy of the FSG as an appendix). the company ABN.pdf  contain a summary of how the plan is expected to achieve the client’s objectives. Construct a financial plan to accommodate the retiree couple in Task 1.  be predicated on clients’ current and projected financial position. and provide projections as to how the financial prospects of the clients might be expected to evolve over that period. Copyright © Monash University 2013 12 . etc. Essentially this means being able to work out Age Pension entitlements by applying Centrelink’s Assets Test and Income Test. Taxation issues should be clearly explained.crcfs. and the Australian Financial Services Licence number under which the principal(s) operate. or an MVE strategy) you may find it useful to use the ASX data for 109 years of annual returns provided on the link (provided by AXA Australia): http://www. and how it was determined. You can find current information on the government’s means testing of Age Pension on www. (vi) the plan/advice. their professional It will help you to familiarise yourself with the issues involved. the names and contact details of financial planner(s).gov.  be capable of explanation in plain language to the clients (and contain this explanation in summary form). which any person associated with the provision of the plan might receive. preferences and risk profiles.  outline the nature of strategy and products recommended and point out possible risks. (iv) an outline of client financial circumstances (another agreed document.centrelink. (v) a section outlining the financial planner’s assessment of the client’s attitude to risk. (ii) within. The SoA should:  be designed to meet client objectives. which might influence the objectivity of the advice. (If you advise your clients to invest in an ASX index fund (for instance as a part of a drawdown strategy. signed and dated by both clients and planners).au Task 2: 22 marks Document 2: construction of a financial plan. (iii) a section containing client objectives as elicited from the clients (this should be an agreed document. You will need to provide them with financial objectives to construct an SoA for them.NOTE: Since the interaction of superannuation assets and retirement income with Age Pension entitlements is an important component of the course. it is in your own interests to include its determination in your client’s plan. commissions. The plan (of no more than 15 pages) must contain: (i) on the cover.

6).au/student/forms/assessment-coversheet. If specialist advice ( p. Marks may be deducted where in-text citations and/or the reference list is not consistent with the American Psychological Association (APA) style. Planners are encouraged to consult closely with clients on details of the plan throughout its construction. available at URL: http://www. In order to pass the assignment your bound copy of the financial plan must state that you have supplied clients with an the work submitted for assessment will be graded in accord with the table showing examples of grades and corresponding achievement levels published in the Q Manual (2012.html. all role-playing groups will be asked to enact (one of)  an initial interview  presentation and explanation of the Statement of Advice  explanation of unrealistic income expectations given the lump sum size  description of how social security top-up might be obtained  description of cost of life annuity compared with a fixed term annuity  explanation of cost and characteristics of general insurance Copyright © Monash University 2013 13 . you must supply clients with a Financial Services Guide at the earliest convenient Copies of this manual can be purchased at the bookshop or accessed online at URL: http://www. Criteria for assessment: Overall. information as to how this can be obtained and at what cost. The University's plagiarism policy can be found at URL: http://www. Return of marks: Marked assignments will be returned to you during tutorials in week 12.pdf. which is illustrated in the Q Manual. Work submitted for assessment must be accompanied by a completed and signed assignment coversheet. contain a clear statement of fees charged for each phase of service.buseco. which is the faculty's student guide for producing quality work on time. your submission may be processed by a plagiarism checker such as Turnitin. This would usually be at the initial client interview. You should retain the marked copy of your submission until the final results for the unit are If you do not attend the tutorial in week 12 you may collect your assignment from your tutor during consultation times. Referencing requirements Work submitted for assessment must be consistent with the guidelines set down in the Q Manual. The plan would then be scrutinized by the clients who may identify any shortcomings.doc.  contain an outline of the dispute resolution mechanism available to clients. should be provided. NOTE: When constructing an Plagiarism In order to ensure the academic integrity of your submission and to deter others from copying your Task Three (Role Playing) In tutes. taxation or legal) is required. Submission details: Assignments should be submitted via the department assignment box on the tenth floor of the Menzies building (Building 11) at Clayton campus.

cusack@monash. the need for agreed objectives. a bound and signed copy of both: Document 1 (answers to questions).challenger. Challenger Financial Services term annuity unit costs are available from their website (www.g. explanation of the “MySuper” product during accumulation or retirement). By Week 5: By the end of week five you should have submitted an outline (no more than one page) of the client’s financial scenario to me tony. and Document 2 (the financial plan) is required by the end of week 9 Throughout Semester: In this unit there is ongoing role-playing in which client interviews are enacted. in respect of an initial interview role playing might include: (i) The parties introduce themselves to each other (ii) The client’s explain their initial requirements. explained and criticised. finalised statements of advice are presented. explanation of cost and characteristics of life insurance  description of advantages and disadvantages of drawdown strategies  similar topics as might arise in the course of the unit ( as a Word Document attached to an email. (iii) The financial planners reveal their qualifications. This scenario should be the basis of the financial plan.e. For instance initial interviews are simulated. In an initial interview. Specialist Skills accreditation would be available to no one! For example. Summary of activities in the development of the financial plan By Week 3: Role-playing group memberships to be completed. an agenda for detailing information. social) circumstances in broad outline. The notion of RG 146 compliance will be discussed in Topics 1 and 3. and sketch their financial (and as far as relevant. explain the basis on which a financial plan can be constructed (know your client. in particular. and client questions are fielded. In AFC3440 you cannot obtain ‘Specialist Skills’ accreditation without these enactments i. While some departure from this outline is permissible. Mean-Variance Efficient retirement income portfolios are treated in Topics 5 and 6. without the role playing component. know your product). (iv) Given that the parties approve of each other. only the essentials can be elicited. and agreed assessment of financial position. Copyright © Monash University 2013 14 . The Superannuation Guarantee Scheme in Topic 2. and Social Security in Topic 4. you should try to adhere to it as far as By the end of Week 9 RECAP: For assessment purposes. construction of the financial plan and its presentation to clients can be outlined. If the financial planner is to have a continuing role in implementation of the plan. the nature of the continuing relationship including fees must be

p. examination schedule can be accessed through my. Information about The Semester 2 examination period is Monday 4 November – Friday 22 November 2012. Many of these will appear on the exam. Materials examinable: Any course material covered in lectures. Duration: 3-hour examination Task details: The final examination will be a closed book examination (notes may not be used. topic notes and tutorials is examinable Overall.Final examination Weighting: 70% Learning objectives assessed: This assessment task is designed to test your achievement of learning objectives portal at URL: https://my.6).monash. Copyright © Monash University 2013 15 . the work submitted for assessment will be graded in accord with the table showing examples of grades and corresponding achievement levels published in the Q Manual (2012. 2. Date and location: The final examination will be held during the official examination period. 4 and 5. 3. however The Australian master financial planning guide 2012/13 15th Edition may be used) and approved calculators will be permitted. NOTE: You are expected to understand and recall all abbreviations and acronyms encountered in this unit – “customs and usages” – used in the finance

which are designed to ensure that staff and students are aware of the University’s academic standards.  Grading Scale.  Academic Calendar and portal for more information. Contact your tutor if you need advice and see the range of services available at The Monash University Library provides a range of services and resources that enable you to save time and be more effective in your learning and research.html. Go to http://www. procedures and guidelines. Key educational policies include:  Plagiarism.  Discipline: Student Disability Liaison Officers (DLOs) visit all Victorian campuses on a regular basis  Website: http://adm.OTHER INFORMATION Policies Monash has educational policies. Monash University. Clayton Campus. and to provide advice on how they might uphold them. and  Academic and Administrative Complaints and Grievances or the library tab in my. You can find Monash’s Education Policies at: http://policy.html  Telephone: 03 9905 5704 to book an appointment with a DLO  Email: dlu@monash. Copyright © Monash University 2013 16 . Students who have a disability or medical condition are welcome to contact the Disability Liaison Unit to discuss academic support Student services The University provides many different kinds of support services for  Drop In: Equity and Diversity  Special Consideration. Level 1 Gallery Building (Building 55).monash.  Assessment in Coursework  Orientation and