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Risk Management, Kaplan, Section 1: Question 5

Discussion in 'Financial Planning' started by J.Leabres, 17th Nov, 2010.

  1. J.Leabres

    J.Leabres New Member

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    Kaplan Risk Management Assignment

    Hey good people! :)

    Im after assignment answers! lol

    if anyone has passed the risk management assignment and can send me there assignment to use as a reference while completing mine, i would be too happy! :D

    p.s. more the case studies

    thanks! :)
     
    Last edited by a moderator: 17th Nov, 2010
  2. J.Leabres

    J.Leabres New Member

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    wow, thanks!

    question 5 i just had

    conditions covered and repurchase or 'buy-back' benefit and there definitions..

    i didnt kno you had to find foreign ones!

    cheers! :)
     
  3. ajh43

    ajh43 New Member

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    Happy to help hope you do well.
     
  4. Jess4fun

    Jess4fun Member

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    Risk assignment

    Hi I am completing my assignment now, I sent it in and had to resubmit a few things. The markers mentioned that Simones husband needs insurance aswell! I noted to them that it says nothing about insurance for him but for Simone only.
    Did any one else have this problem?

    P.s. dose any one else think Kaplan sucks? :)
     
  5. combaksa

    combaksa New Member

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    You too? What a coincidence, it must of been the same marker. I also posted a thread on this.
    http://www.invested.com.au/106/rm-case-study-q1-resubmission-38174/

    Hope this helps.
     
  6. serge g

    serge g Active Member

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    Or perhaps you both just made the same sloppy, basic error.
     
  7. sanela

    sanela Member

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    SRP

    Hi ajh43,

    are you willing to share your SRP assignment as well, as I'm struggling with this one. Thanks in advance
     
  8. serge g

    serge g Active Member

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    The exchange of assignments on this forum is a disgrace. The only good thing about this is that if you cheat rather than study, your employer will certainly realise you are going to be a **** planner sooner rather than later and give you the arse before you screw up a client's finances.

    I hope Kaplan figure out who you are.
     
  9. sanela

    sanela Member

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    Thanks Serge. I've never meant to cheat, just to compare my assignment to someone's who already passed as the most people had to resubmit Q6. And if you have that attitude towards your clients as well (telling people they are **** etc) than you are not much better...go and join some super hero clan rather than waist your time on this stupid comments. Have a great day!
     
  10. serge g

    serge g Active Member

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    Thanks Sanela, but I think you've missed my point. Firstly, the fool who posted the assignment is just as much at fault as you and should be banned from the forum. No questions asked - if you come here and ask for, or give out, assessments for RG146 courses where people are going to be accredited to give financial advice to retail clients, you should be banned. Period. I hope some mods are reading this.

    Secondly, you may say you just want to 'see if you've got the right answers', which is a standard cheater's rationale - I copied, but I did it for all the right reasons. So if you find you haven't got the right answers, what are you going to do, hand them in anyway and get the feedback? Or change them? The point of handing in wrong answers is that you get feedback, you study more, you submit again and you learn a whole lot in that process - you probably end up better than you would have if you'd passed first time. When you copy, or 'check' if you want, you break that learning process. So you don't get how training is supposed to work at all.

    The whole planning industry is under attack because of quality of advice problems, Storm, Opes, Westpoint etc. Lots of honest planners are being tarred with that brush and the government and plenty of other stakeholders say that the biggest problem is with minimum education standards. But the existing education standards would be quite effective if people actually did the work they were supposed to do under RG146, and did it at reputable providers (of which I think Kaplan are pretty good - those who get on this forum and whinge about failing - well, people who pass don't whinge on forums, do they?)

    But because of the slacker planners and product pushers, ASIC is going to impose a huge and difficult, compulsory exam on the whole advice industry. If you can't pass Kaplan's risk subject without sharing answers, you've got until July 1 next year to figure out which career you want to try next because that exam is going to be designed specifically to keep the imprudent and the untalented out the industry. So I reckon you might struggle with it.

    More education is definitely not the only answer to the planning industry's problems, but under-education is certainly part of the cause. And you may not have wanted a lecture, but you sure needed one mate.
     
  11. Jess4fun

    Jess4fun Member

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    Who the hell are you to say we are cheating!! If you haven't noticed Kaplan are F#*$!d and they have no interest in helping their students through these studies. Comparing assignments is not cheating, but only making sure you are on the right track. Why don't you find another thread to complain at!

    Jess4fun
    *(passed all assignments with flying colours!!!)
     
  12. serge g

    serge g Active Member

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    This isn't my 'thread to complain at' - I have given out many, many detailed responses to students who've done the right thing and asked questions and requested help on these forums instead of asking others to just give them the answers.

    So you're passing with flying colours? Then you don't mind that the guy competing with you for that paraplanning job, with exactly the same bit of paper from Kaplan as you, got his diploma by asking nicely for the answers on this forum? How naive are you. Why don't you just post your passing assignments then Jess? So a few more people can rock up and get that job instead of you? Then blow up some clients? And ruin the planning industry? Yeah. You're smart as a whip, aren't you.

    So enough with your rightful indignation. There is no legitimate purpose to ask another student for their completed answers. It is cheating and that's obviously what's happening here.

    And as I recall it, the question turns on what the wife's insurance needs are. The thing everybody misses is that her husband dropping dead one day might actually affect her life, so some life coverage for him is surely one of her insurance needs. But you passed with flying colours (after failing on that point and resubmitting, that is), so you already know that though, don't you?

    If sanela asked for help on that question, it would have been answered here for him, probably by me or one of the other people of goodwill who offer help in this place, in some detail. We are here to help fill the gap left by Kaplan for those polite enough to ask.

    The OP said:

    Not cheating at all.
     
  13. Jess4fun

    Jess4fun Member

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    Wow - you seem like a really angry person with a lot of issues. Who are you again and what is your role in the financial planning industry? I am intrigued now :). This must really annoy you!
    Its not asking students for completed answers - its commuication with each other as it is all done externally and there is no class room or teacher. Imagine if you were at a proper Uni with class mates. Are you telling me that you would not get together and brain storm ideas to help each other through???
    The financial planning industry cannot be learned by just ready a few books and answering questions! It comes with experience in the indusrty.
    So no is the aswer to your question ' I don't mind competing with that other guy' because I know I have the determination and confidence to prove I will be a great adviser no matter who I am competing against! :)

    Jess
     
  14. serge g

    serge g Active Member

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    Nah, doesn't bother me how many no hopers come through the door - we cull them fast. And CP153 is gonna start doing that for us real soon.

    I agree, there should be a community - and this is it. Experienced people are here to help - and do, if asked. But this thread isn't about that.

    If you want the advantages and support of university education, maybe you should have gone there instead, and paid the 40k that it costs, instead of doing the 2.5k Kaplan cheapie. Your determination and confidence will only get you so far. Without a bachelors degree you'll never be an FPA member, and that means you'll never be CFP. And that means your 'determination and confidence' to progress through the industry will come to a dead stop long before it otherwise might. Make sure you keep us updated.
     
  15. Jess4fun

    Jess4fun Member

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    I was told to do the Kaplan DFP 1 - 4 to start with and actually get the minimum qualification so can begin my Planning journey. I am currently doing Grad Dip onto the Masters and then CFP whcih is better than doing a boring old Bachelor. I am a member of the FPA and I will be a CFP so that dosn't worry me. And you are?? Like I said you intrigue me and I am interested in what you have completed. I like to see people with such enthusiasm and passion in this industry. I too don't want to see ppl cheating there way through this and if they have it will show and they won't last long!

    Jess
     
  16. serge g

    serge g Active Member

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    Ahhh, then you've been well advised and are clearly on the right pathway, which is good to see. There are lots of grads who think that armed with their KP diploma, the world owes them a fat planning payday. Some of them are still typing data collection sheets into xplan ten years after they were hired as graduates. You obviously know what's needed in the industry so that clearly isn't going to happen to you. I am filled with relief. No, really.

    Among other things, I have done Kaplan DFP 1-3, and some FP courses from far worse providers. Not because I had to, but it helps in my role. I think Kaplan's system is imperfect - their service is crap, and there is zero support - but I also think you get what you pay for out of it. In fact, dollar for dollar, given the cost of the KP diploma versus the earning potential of a competent FP, it's probably the single best ROI education you can do in Australia. It is cheap as chips for the opportunity it buys you. But the KP experience is not great. An element of self-reliance is required, and many struggle with that, not just people on this forum. But a line is certainly being crossed here.

    As for getting all IRL, well, I hate to be coy Jess but I cherish my anonymity. I will say this: I work in the FP industry and I see how it works from a very high level, and I work closely with people who make hiring decisions. So I know the issues around education and the quality of planners well. And crap advisers are out there ruining it for the rest of you. It's not just about the competition for jobs, which you might win. They discredit the industry. You will have fewer opportunities to get and keep good clients because of them. And you will need to do pointless ongoing education tasks set by ASIC because of them, which may do little to stop future disasters.

    And Serge is not my real name. Sorry. I've been faking this whole time.
     
  17. Jess4fun

    Jess4fun Member

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    Whats your name then (Serge) You seem like a good person to know in this industry. And your right in the fact that there are crap planners out there making it crap for others. Legislation will come into effect though as it has done in the past. I am also studying Share Trading and Investments - so this is my passion and I hope to be very successful in it. I am currently in Darwin NT and it does offer great oppotunities, but I won't be here for ever and am keen to get into a big city and apply my self.

    So how high up are you in this industry and how did you manage to get there with limited study??
     
  18. sanela

    sanela Member

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    Hi Serge,

    Guess what? I’ve got my assignment back this morning and it says that I’m competent (despite my opinion that it was very poor). So, even though I did it on my own I don’t think that that makes me a good planner and I wouldn’t dare to give superannuation advice to any client until I would be working for couple of years with some experienced planner. Don’t tell me that you believe that these assignments with Kaplan will help us to get 5 stars planners! When I did my masters degree in business analysis 10 years ago (and I know you wouldn’t believe that I was a good student and passed my all exams without cheating ) I didn’t feel as confident as I feel know after 10 years of experience working side by side with some great business persons. My point here is that we learn the most of things from working experience as oppose to uni books, especially the Kaplan once. And when you said that you hope that Kaplan figures out who I am, maybe you should have rather said that you hope that Kaplan will update their subject notes (SRP one had tax and other details for 2008 and we are in 2011, also they explained how super looked in the 80s on 20 pages and just mention the current situation on 1.5 pages?!!!) or maybe offer better support to online students. When you ask them to clarify some of their insufficient information that they provided in the case study, all they can do is to offer you 1 day work shop and charge you $400 (on top of what you’ve already paid for the course, so it seems that knowledge is not the most important thing for them). I don’t know about you, but I don’t think it’s good enough. Also, I\m in insurance industry and my employer doesn’t think that I’m **** employee, as a matter of fact I’ve got bonus 40% of my salary for this financial year due to my performances! (also Kaplan people were very impressed with my FFP, RM, IP1 and IP2 assignment) I’m not going to give any superannuation advice now or in the future, so you will not save the world with your reaction to my post.
    And I agree that we have too many bad quality advisers but maybe the industry should consider to get rid of them by not allowing people who passed 4 open book exams to give the advice at the first place. I understand your disappointment but I think that that will take more than not allowing people to exchange their assignments to improve the picture of the industry.
    “But because of the slacker planners and product pushers, ASIC is going to impose a huge and difficult, compulsory exam on the whole advice industry.”—Oh nooooo, I’m shaking!!!!! Honestly Serge, looking forward to this and don’t think that will struggle with this one, but you may as people who think that are the smartest one are usually not!
     
  19. Jess4fun

    Jess4fun Member

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    Well Said!!

    Jess
     
  20. Kojack

    Kojack New Member

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    Risk Management Assignment

    Kaplan support and marking is a disgrace, especially with the different markers coming back with different information and feedback.

    The case study question for Simone clearly states:

    "As Simone’s adviser, outline the recommendations you would make to her regarding life insurance and general insurance needs. Provide a brief explanation of each insurance you recommend, the amount of cover and your reasons for these recommendations. For income protection you must provide waiting and benefit periods and your reasons for recommending those particular periods".

    Not once does it mention the cover for her husband, however some people pass the assignment and some people have to resubmit.

    How about some consistency Kaplan??