Join our investing community

Just Started

Discussion in 'Financial Planning Study Group' started by midlife, 30th Sep, 2009.

  1. midlife

    midlife Member

    Joined:
    30th Sep, 2009
    Posts:
    6
    Location:
    Mid nth coast NSW
    Hi folks, looking at major career change and getting to FP. Am currently completing my assignment for FFP and would like to talk to any others who are at a similar stage or who can offer some help.

    Cheers. Ant.
     
  2. Jimm

    Jimm Member

    Joined:
    4th Aug, 2009
    Posts:
    20
    Location:
    Melbourne
    Happy to help

    hi midlife,

    I put my assignment in 9 days ago and am waiting for the results. I am happy to give you my 2 cents worth.

    Jimm
     
  3. midlife

    midlife Member

    Joined:
    30th Sep, 2009
    Posts:
    6
    Location:
    Mid nth coast NSW
    Thanks Jimm. Was your CS on Marco?
     
  4. Jimm

    Jimm Member

    Joined:
    4th Aug, 2009
    Posts:
    20
    Location:
    Melbourne
    FFP

    The one and only Marco Gambotto
     
  5. midlife

    midlife Member

    Joined:
    30th Sep, 2009
    Posts:
    6
    Location:
    Mid nth coast NSW
    Jimm, am thinking I wouldnt change much of the advice given to Marco. Seems fairly reasonable. Went with a growth risk profile due to his age. You?
     
  6. Jimm

    Jimm Member

    Joined:
    4th Aug, 2009
    Posts:
    20
    Location:
    Melbourne
    Hi midlife,

    I came out with a risk profile of growth as well based on age, lack of investment experience, etc. I included asset allocation tables for Tracy's plan and determined she was a bit light on with growth assets (in favour of defensive). I tweaked the allocations a bit try and change the weightings, but didn't change any strategies or product selections

    Jimm
     
  7. chelseaC

    chelseaC Member

    Joined:
    5th Oct, 2009
    Posts:
    15
    Location:
    Melbourne, vic
    Hi, everyone. I am currently studying towards DFP in Kaplan. And i am preparing my first subject exam. Is it difficult or not? How should i prepare for it?:confused:
     
  8. Jimm

    Jimm Member

    Joined:
    4th Aug, 2009
    Posts:
    20
    Location:
    Melbourne
    Exam tips

    Hi chelseaC,

    I did my first exam on Friday (FFP) and it went OK. My 2 cents are:

    -All of the info is contained in the notes but you need to know your way around and be able to find things quickly

    -The time wasn't too tight but I made sure I checked all the answers several times, some of the wording is a bit confusing. I think it pays to double and triple check if you have the time. Don't leave early if you don't have to.

    -The practice exam questions on the Kaplan website are really good and are pretty close to the exam questions. There are question sets for FFP and ELC. ELC covers a bit more material but is well worth doing.

    -When you do the practice questions I found it really useful to find the answer in the book, even if you know the answer straight away. This helps build familiarity with the layout of the notes, which is probably the key part of passing the exam.

    -I printed out a separate copy of the contents pages and stapled them together to make a 'master reference'. This makes finding info quicker than flipping through the chapters in the book. As you work through the practice questions you can then make notes on these pages and highlight the bits that were hard to find. This paid off a couple of times in the exam b/c the practice questions were pretty close to the real thing.

    Hope this helps.

    Jimm
     
  9. chelseaC

    chelseaC Member

    Joined:
    5th Oct, 2009
    Posts:
    15
    Location:
    Melbourne, vic
    Hi Jimm,
    Thanks lot. Your sugeestions are indeed helpful. Yesterday, i also sucessfully passed my FFP exam. And i activiate my RM for my next subject study.

    Stay a touch

    Many thanks & have a nice day

    Chelsea:)
     
  10. da_ragazzo

    da_ragazzo Member

    Joined:
    15th Feb, 2009
    Posts:
    16
    Location:
    melb
    I passed my exam too today :)

    Damn Chelsea you stole my spot yesterday!! I hope it wasn't the 11:30 one???
     
  11. chelseaC

    chelseaC Member

    Joined:
    5th Oct, 2009
    Posts:
    15
    Location:
    Melbourne, vic
    da_ragazzo , you are kidding?! Yeah, i took exam at 11:30 yesterday. Did u also took exam at that time?
     
  12. Salmonpie

    Salmonpie New Member

    Joined:
    7th Oct, 2009
    Posts:
    3
    Location:
    MELBOURNE
    Hey.

    Can I ask how many pages your assignments and SOA's ran to?

    Cheers
     
  13. chelseaC

    chelseaC Member

    Joined:
    5th Oct, 2009
    Posts:
    15
    Location:
    Melbourne, vic
    Salmonpie, you mean the first subject, FFP? 15 pages for answer and 16 for SOA. I just used the template published in the case study of subject notes.
     
  14. da_ragazzo

    da_ragazzo Member

    Joined:
    15th Feb, 2009
    Posts:
    16
    Location:
    melb
    no no i tried to get that time but someone booked it...i had to do it weds 11:30 instead :)
     
  15. chelseaC

    chelseaC Member

    Joined:
    5th Oct, 2009
    Posts:
    15
    Location:
    Melbourne, vic
    hi, da_ragazzo, hope your exam goes smothly.
     
  16. jd23

    jd23 New Member

    Joined:
    9th Aug, 2009
    Posts:
    3
    Location:
    Melbourne, VIC
    confused!

    Hey there, working on my FFP assignment (Marco). Im not sure if i am doing the wrong thing but i somehow calculated that his net cashflow is a negative balance following the mortgage, car, annual bills, holiday and living expenses. Did you guys calculate the same things or have i done something wrong??
     
  17. Jimm

    Jimm Member

    Joined:
    4th Aug, 2009
    Posts:
    20
    Location:
    Melbourne
    Yeah I came up with the same conclusion. Obviously the idea is to make recommendations on to fix this up and it can easily be done by paying off the debt.
     
  18. chelseaC

    chelseaC Member

    Joined:
    5th Oct, 2009
    Posts:
    15
    Location:
    Melbourne, vic
    concerning RM

    hi, guys,
    I am proceeding to RM. could you give me suggestion about Q5 in assignment, i.e., two available trauma policies and discuss how the definetions of these conditions vary across the two available policies.

    I am just jamed here.

    thanks lot
     
  19. Jimm

    Jimm Member

    Joined:
    4th Aug, 2009
    Posts:
    20
    Location:
    Melbourne
    Hi Chelsea,

    I did some research on the web and found two policies, one from Allianz and one from Suncorp (any company will do). The PDS's have all the info you need. I put the four definitions in a table (as an attachment, word for word) and wrote a couple of sentences describing the main differences.

    Jimm
     
  20. chelseaC

    chelseaC Member

    Joined:
    5th Oct, 2009
    Posts:
    15
    Location:
    Melbourne, vic
    Hi, Jimm,
    Thanks lot. i will try to find two according to your suggestions

    have a nice day

    Chelsea