Join our investing community

Foundations of Financial planning help

Discussion in 'Financial Planning Study Group' started by Shan, 23rd Apr, 2010.

  1. Shan

    Shan New Member

    Joined:
    23rd Apr, 2010
    Posts:
    3
    Location:
    Melbourne
    Hi Everyone

    I am studying Foundations of financial Planning course with Kaplan (self study) option.

    I have done a businees degree in 2001. I have not done any serious studies during the past 9 yrs. I need your advice and guidance.

    kaplan has sent me printed materal in a folder.

    There are totally 8 modules for this unit. Each module is has 30-45 pages of content. i find there is a lots of content. i have been reading and rereading the material.Still i find hard to remember all the information.

    I am thinking of making my own notes. that way i will be able to reduce the content in each module to 15 pages. I tried making mind map but there is too much info so it did not work.

    I am liitle worried as i have exams in two months time.


    i would appreciate if you would kindly tell me how you went about studying. It will be very helpful for me.

    Thank you
    Shan



    I
     
  2. plan

    plan Active Member

    Joined:
    4th Nov, 2009
    Posts:
    34
    Location:
    nsw
    Hi

    The exams aren't difficult...the answers are right out of the book...sometimes almost word for word. Its best to know where everything is within the modules.

    Most of the learning comes from doing the assignments.

    Good luck!
     
  3. micdan

    micdan Active Member

    Joined:
    24th Feb, 2010
    Posts:
    29
    Location:
    Cairns
    Not having studies for over twenty years, I too found the volumn of content in the modules rather daunting. I like you have also opted for the self study option as I do not live in the city. I overcame this by studying a little each night and asking Kaplan questions along the away. They were very swift to answer my questions and were generally fairly helpful.
     
  4. Shan

    Shan New Member

    Joined:
    23rd Apr, 2010
    Posts:
    3
    Location:
    Melbourne
    thank you for replying. After seeing both your reply i feel better. Did you make your own summary notes for each module? Or did you study straight from kaplan course material ?

    Shan
     
  5. micdan

    micdan Active Member

    Joined:
    24th Feb, 2010
    Posts:
    29
    Location:
    Cairns
    I did make some notes, but I did not summarise each module. I also highlighted kep information with a highlighter.
     
  6. serge g

    serge g Active Member

    Joined:
    16th Oct, 2009
    Posts:
    31
    Location:
    VIC
    I agree with the other posters, but the trick also is not to get too overwhelmed by it all and take it piece by piece. My tips are:

    - Don't make loads of notes, this generally won't add to your understanding. You are much better off reading and re-reading anything you don't get until you know the notes well enough to be able to dig out answers you don't know in the exam.

    - Take it one section at a time, then one module at a time. Think about what each section is supposed to be about and be an active reader. Check the learning outcomes off one by one at the end of the module - can you do what it says you should be able to do by the time you get to the end of the module? Don't move on until you feel you're on top of what you've already looked at. If you're not really across a module, moving on to the next one will guarantee you will forget what's in the previous one.

    - Email the ffpquestions email address if you don't understand something. Specific questions are better, they can answer those quickly - they can't rewrite the notes for you in a different way if you simply say you 'don't get' something. And treat them with respect - it's for questions, not complaints. They are trying to help and are usually pretty quick to do so.

    - Do the activities and review questions. Don't cheat and do them with the answers in front of you - treat them like an exam. They're there to help.

    - Do the practice exam on the website. It's short but helpful, and lets you get a feel for what the computerised exam system is like and the way they write the questions. The answers to the questions are all in the book. If you know where everything is in the book, you shouldn't have too much trouble going to find it if you're stumped in the exam.

    - Don't freak out before the exam. Remember you get three shots at it also, so if you don't pass the first time it's not the end of the world. They tell you where you went wrong so you can go back and revise. It's an inconvenience have to to do it again, but think of how much money you might make over your career as a planner - the couple of grand you spend getting your DFS FP is just nothing. Try getting a bachelors degree and see how much that costs.

    - In the exam, answer those questions you know the answer to and save those you don't for later - don't waste time searching for answers so that you run out and don't get to questions that you DO know the answer to.

    - Read the questions carefully. Sometimes the question is about something that is true, and sometimes about something that is not true, so be careful which is which for each question. Generally if they ask for something that is "... NOT..." something, there will be three true statements and one wrong statement. Don't select the first 'true' answer that you recognise - they might be asking for something that is not true. Again - read the question - don't answer till you're certain you understand what it's saying.

    Good luck - remember this subject is the foundation of your entire career as a financial planner. You shouldn't expect it to be too light or too easy. There's lots to know.
     
  7. Shan

    Shan New Member

    Joined:
    23rd Apr, 2010
    Posts:
    3
    Location:
    Melbourne
    Gentlemen

    Sorry for late reply.I did not come to the forum for a few months. Studying the course through self study option is challenging. How ever i am now learning better. I want to thank you for your kind advice. Most of you have successfully completed this course through self study option. I am sure i too will succeed definitely.your comments are very useful to me. Thank you very much once again.


    kind regards
    shan
     
  8. micdan

    micdan Active Member

    Joined:
    24th Feb, 2010
    Posts:
    29
    Location:
    Cairns
    Hi Shan
    I have just passed both the assignment on my first attempt and exam (also first attempt) for this module. When completing the assignment I found it helpful to put myself in the shoes of the client, particularly in regards to questions that ask you to describe how you would describe something to a client.
    With regards the exam, as has been previously mentioned in this thread you do need to know where the information is.
    Good luck with it all.
     
  9. MrJohn

    MrJohn Member

    Joined:
    20th Aug, 2011
    Posts:
    15
    Location:
    Adelaide, SA
    Just wanted to echo some of the other comments. I just completed this program, it wasn't that bad. The SOA assignments were the biggest part. The tests are pretty easy, you just have to be able to find things in your text reasonably quickly at times.

    Good luck.