Reference no: EM133005809

200272 Insurance Advising - Theory and Practice - Western Sydney University

Assignment Instructions

This is an assignment with two parts.

Part 1: Individual Written Component requires a comprehensive file note including a risk analysis completed as agroup

Part 2: Group Oral Component requires a 5-minute recorded presentation by each member of the group

Background

The assignment is based on a client, Claire Reagan who has booked an appointment with JTK Financial Services and seeks financial advice. Claire's date of birth is 21 May, 1976. She is an art teacher, single and has a teenage daughter, Hannah.

You are provided with:
1. A recording of a role play demonstrating the initial client interview between new client, Claire Reagan and adviser Julie Knutsen.
2. A blank ‘comprehensive' file note template
3. A blank risk profile template used in the client interview
4. A memo from Claire Reagan with additional information and completed the day after the client interview.
5. Insurance Needs Analysis excel calculator
Note: The file note template has been customised for this unit to help you build good advisor habits. However, you may modify the template to suit your style of communication and/or your perspective on what you believe is important to demonstrate your best interest obligations.

Aim of the Assignment

The aim of the assignment is twofold. Firstly, to assess your ability to work cohesively as a group. Secondly, to enable you to demonstrate your understanding of important elements of the regulatory obligations of financial advisers. In addition, you will apply the regulations to written and oral communication exercise akin to real-world personal and insurance advice.

Task Requirements

You are required to:
1. Listen to the Client Interview recording [approximately 45 minutes]
2. Review the additional information provided in a memo from the client, Claire Reagan [Appendix 3].
3. As an individual, you will prepare a comprehensive file note using the template to guide the completionyour group submission.
4. As a group you will record a 3-minute introduction to your presentation.
As individual members of the group, you will each record a 5-minute presentation will demonstrate your analysis, evaluation, and risk management solution to one significant risk that threatens the client's financial objectives and/or wellbeing. PPT Slides must be limited 1 Title slide, 4 x Content slides per person, 1 Reference slide.

Guidelines on How Your Submission Will be Graded

As discussed in Week 3 Tutorial, a good file note should be created at the end of every communication with the client. It will capture evidence of the dialogue between the client and the adviser and articulate [but not limited to]:
- actions [and discussion] undertaken by the adviser to comply with their obligations
- background of the client, their concerns and reasons for seeking advice
- client's financial and personal situation and, the basis for the advice that will follow
- client's perspectives on risk and their risk profile outcome
- issues raised or requests for further information
- documents that were exchanged in the meeting and agreed next steps
- any other matters deemed relevant to the advice and/or reasons for seeking advice

Your analysis of risk will articulate the problem and possible solutions using your knowledge of risk management and insurance.

Attachment:- Insurance Advising.rar