FN0211 Personal Financial Management - OLD

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Synopsis of Module

The purpose of the module is to introduce students to the area of personal finance providing an overview of the subject, an understanding of key investment concepts and a knowledge of the use of financial products.

This all with a view to gaining an understanding of how financial products can be used to meet the needs of individuals' circumstances in the context of personal financial planning.

Delivery is via a mixture of lectures and seminars, some group work and directed learning. Assessment is by way of a case study based assignment.

Aims of Module

The aims of the module are to:

1.Provide students with an overview of the UK financial system and markets.
2.Enable students to gain knowledge of the principal investments available to individuals, including knowledge of tax implications and key concepts.
3.Explain the need for sound financial planning and gain an overview of the area in which planning is required.
4.Explore matching of investments products to financial needs of individuals.

Learning Outcomes

On completion of this module students will be able to:

1.Describe the nature of the major investment products available to individuals.
2.Discuss the concept of investment risk and the ways in which this can be managed.
3.Discuss the impact of taxation on investment decisions.
4.Interpret and apply the factors relevant to the matching of investments to personal circumstances.
5.Identify financial planning needs and make reasoned recommendations as to the  actions required and the suitable products to meet those needs.

Outline Syllabus

INTRODUCTION

The life cycle of the individual; Risk and return; Capital and income; Impact of tax on investment return.

CONSUMER PROTECTION

The regulatory framework and compensation schemes.

INVESTMENT PRODUCTS (including taxation aspects):

Cash based investment products; Loan Stocks; Shares; Collective investment schemes;

Insurance products.

PERSONAL BORROWING

Sources of finance; Short term credit; Mortgages and housing; Credit Scoring.

FINANCIAL PROTECTION

Life assurance; Health Insurance; Protection in old age.

RETIREMENT, PENSION AND DEATH PLANNING

Pensions; Making a Will; Intestacy

Summative assessment

Assessment : Assignment (individual) (10 hours)

The weighting of this assessment is 100%