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DFP1 (KAPLAN): NEW ASSIGNMENT - STEVE and CRYSTAL RILEY

Discussion in 'Financial Planning Study Group' started by Paperwork, 11th Oct, 2016.

  1. Paperwork

    Paperwork New Member

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    Kaplan have gone and totally restructured their diploma course. The traditional DFP1A/DFP1B split has been made redundant. As someone who sat the both of these units over three months only to have to redo the first unit under the new DFP1 I can tell you two things:

    • Yes, I was upset at having to write an entire SoA (Sharon Elsom anyone?) only to have to redo an entire unit with another SoA, but it was seriously improved. The new unit is so streamlined and cuts out a lot of nonsense from the redundant unit.
    • It was actually quite enjoyable. I enjoyed the unit and now I am willing to help people complete the unit as I see Kaplan have really pulled their head in.
    Anyhow, if anyone needs "assistance" with their SoA on Steve and Crystal Riley, let me know.

    I will be more than happy to help.
    Happy financial planning!
     
    Last edited by a moderator: 12th Oct, 2016
    yad and twisted strategies like this.
  2. hobo

    hobo Moderator Staff Member

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    @Paperwork Interesting. Do you know whether they have restructured all/any of the other subjects as well?
     
  3. Paperwork

    Paperwork New Member

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    Hi there,

    From what I can tell, they have replaced the first and last unit I believe.
     
  4. Alex Ng

    Alex Ng New Member

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    Hi Paperwork, I am preparing SoA for Steve and Crystal Riley and find it really tough to produce accurate numbers. Thanks.
     
    Last edited by a moderator: 27th Oct, 2016
  5. Kylie Martin

    Kylie Martin New Member

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    I am currently doing this - trying to finish it today!
    There is a lot of info missing and I am wondering whether or not I can do a cashflow statement based on current AND proposed.
     
  6. Kylie Martin

    Kylie Martin New Member

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    Have you completed this yet?/
     
  7. yad

    yad New Member

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    hi guys, also having a few issues with the case, if anyone can help it would be greatly appreciated.
     
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  8. Kylie Martin

    Kylie Martin New Member

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    What problems are you having? I am struggling with the fact that I cannot see how they can afford to buy and meet mortgage payments.
     
  9. Yash

    Yash New Member

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    Hi Paperwork
    great to see someone doing the new assignment as I'm struggling completing this assignment
    how can I get help with this assignment? As I'm new to this industry (IT background) everything is confusing for me, for example you are saying you are preparing the SOA for Steve and Crystal but the assignment doesn't want you to prepare a SOA. am I missing something?
     
  10. Unknown

    Unknown New Member

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    Hi All, I am currently working on the Steve and Crystal Riley Assignment but feel I may be waaaaaaayyyy off track? Going by my Current and Proposed Cashflow Tables - the clients are in negative cashflow. They should not go ahead with purchasing the home. Does anyone else also get this same result? I need to submit my assignment asap but feel I have done something completely wrong as most of the questions are based around them proceeding with buying the property.... help!!
     
  11. Yash

    Yash New Member

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    Hi,
    my cash flow statement is negative too and I think there is nothing wrong with that, my understanding is the assignment wants us to just analyse their situation and based on the analysis advice the client if they can afford to buy the house or not, so I think you have done the cash flow right.we should consider the situation if they have bought the house and then show the situation to the client and let them know what their financial position would be. I hope it can help.
    my issue is with identifying 6 to 10 objectives for them, any help would be really appreciated
     
  12. Unknown

    Unknown New Member

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    Hi Yash, OK, so maybe I am on the right track haha! Yes, the question about 6-10 objectives was a little difficult for myself too. Some I had though were: The couple and the children wouldnt have to relocate home if they purchased the current one they are renting, so would save on removalist costs etc, current interest rates are relatively low at the moment, so ideal time to buy, provide stability for their family. Do any of these help?
     
  13. jennifer guo

    jennifer guo New Member

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    Hi, paperwork, about Steve and Crystal Riley, how much can they recieve from centralink? Are the benefit including family tax benefit B, low income benefit, parenting payment and renting benefit?
     
  14. Anchal

    Anchal New Member

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    Hi all, I am currently working on Steve and Crystal Riley assignment, regarding the question 2a finding Centrelink benefits, I seriously din understand much of a question. In case study it says she earns 17500$ from Centrelink, and in question it asks to determine how much she will receive from family benefits. In here, do I need to calculate the benefits on top of 17500$ or do i just need to list the benefits with their calculated amount which should sum up to 17500$. Please help me with this, its really confusing for me.
    Thanks
     
  15. Pavle

    Pavle New Member

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    hi everyone,i am struggling very much at the moment with the Rileys family assignment,could anyone provide me and kind of help ?
    thanks very much
     
  16. nth2131

    nth2131 New Member

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    When you have to summit? You have to figure out what are included in 17500 and what is exactly amount? cuz 17500 was the rounded number.
     
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  17. Anchal

    Anchal New Member

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    Thanks for your help, now I think my confusion is clear. I have to submit it as soon as I can.:)
     
  18. nth2131

    nth2131 New Member

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    I have just summited it recently and am preparing for final exam. Good luck.
     
  19. Anchal

    Anchal New Member

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    Thanks.I am finished with my exam. Could you help me with the assignment question 1d where I need to ask 5 questions to fill the gap. the questions so far i have thought about are
    · The amount Steve earns from his part time gardening job.

    · The exact amount of gardening equipment that Steve uses for part time gardening job as it would help as a deduction in taxable income.

    How much time from now for Crystal until she rejoins her work
    could you tell me if they are correct and what other questions I can ask for :)
    Good luck for your exam:)