CFMB_AS_v2_Submission1
.docx
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School
Kaplan Business School *
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Course
FNS40815
Subject
Finance
Date
Jan 9, 2024
Type
docx
Pages
124
Uploaded by SuperGoldfinch3960 on coursehero.com
Written Assignment Certificate IV in Finance and Mortgage Broking
(CFMB_AS_v2)
Student identification (
student to complete
)
Please complete the fields shaded grey.
Student number
10XXXXXX
Written assignment result (
assessor to complete
)
Result — first submission
Not yet demonstrated
Parts that must be resubmitted
Result — resubmission (if applicable)
Not applicable
Result summary (
assessor to complete
)
Section 1: Industry knowledge
First submission
Resubmission (if required)
Task 1 — Key
terms
Not yet demonstrated
Not applicable
Task 2 — The Australian financial market
Not yet demonstrated
Not applicable
Task 3 — Financial services legislation and industry codes of practice
Not yet demonstrated
Not applicable
Task 4 — Products and services
Not yet demonstrated
Not applicable
Section 2: Business skills
Task 5 — Effective communication
Not yet demonstrated
Not applicable
Task 6 — Professional development
Not yet demonstrated
Not applicable
Task 7 — Customer service
Not yet demonstrated
Not applicable
Task 8 — Respond and report on complaints
Not yet demonstrated
Not applicable
Task 9 — Prospecting for new clients
Not yet demonstrated
Not applicable
Task 10 — Professional networks
Not yet demonstrated
Not applicable
Task 11 — Managing information
Not yet demonstrated
Not applicable
Document classification: Confidential Page 1 of 124
Section 3: The lending process
Task 12 — Understanding the client’s needs
Not yet demonstrated
Not applicable
Task 13 — Developing and presenting solutions
Not yet demonstrated
Not applicable
Task 14 — Packaging the application to send to
the lender
Not yet demonstrated
Not applicable
Task 15 — Monitor the lending process
Not yet demonstrated
Not applicable
Section 4: Case studies
Task 16 — Case study: Purchasing an owner-
occupied home
Not yet demonstrated
Not applicable
Task 17 — Completing the Fact find
Not yet demonstrated
Not applicable
Task 18 — Assessing the clients’ situation
Not yet demonstrated
Not applicable
Task 19 — Presenting borrowing options and potential benefits
Not yet demonstrated
Not applicable
Task 20 — Supporting the client to settlement
Not yet demonstrated
Not applicable
Task 21 — Case study: Refinancing a home loan
Not yet demonstrated
Not applicable
Task 22 — Preparing a Preliminary Assessment
Not yet demonstrated
Not applicable
Task 23 — Case study: Purchasing an investment property
Not yet demonstrated
Not applicable
Task 24 — Preparing a loan proposal
Not yet demonstrated
Not applicable
Task 25 — Loan contracts and security documentation
Not yet demonstrated
Not applicable
Task 26 — Preparing the loan for settlement
Not yet demonstrated
Not applicable
Feedback (
assessor to complete
)
[insert assessor feedback]
Document classification: Confidential Page 2 of 124
Before you begin
Read everything in this document before you start your written assignment.
About this document
This document is the written assignment — half of the overall written and oral assignment.
This document includes the following parts:
Instructions for completing and submitting this assignment
•
Section 1: Working in financial services A case study with a series of short-answer questions:
–
Task 1 — Key terms
–
Task 2 — Establishing a level of financial knowledge
–
Task 3 — Financial services legislation and industry codes of practice
–
Task 4 — Products and services.
•
Section 2: Business skills
–
Task 5 — Effective communication
–
Task 6 — Professional development
–
Task 7 — Customer service
–
Task 8 — Respond and report on complaints
–
Task 9 — Prospecting for new clients
–
Task 10 — Professional networks
–
Task 11 — Managing information.
•
Section 3: The lending process
A case study with a series of short-answer questions:
–
Task 12 — Understanding the client’s needs
–
Task 13 — Developing and presenting solutions
–
Task 14 — Packaging the application to send to the lender
–
Task 15 — Monitor the lending process.
•
Section 4: Case studies
–
Task 16 — Case study — Purchasing an owner-occupied home
–
Task 17 — Completing the Fact find
–
Task 18 — Assessing the clients’ situation
–
Task 19 — Presenting borrowing options and potential benefits
–
Task 20 — Supporting the client to settlement
–
Task 21 — Case study – Refinancing a home loan
–
Task 22 — Preparing a preliminary assessment
–
Task 23 — Case study – Purchasing an investment property
–
Task 24 — Preparing a loan proposal
–
Task 25 — Loan contracts and security documentation
–
Task 26 — Preparing the loan for settlement.
Document classification: Confidential Page 3 of 124
How to use the study plan
We recommend that you use the study plan for this subject to help you manage your time to complete the written assignment within your enrolment period. Your study plan is in the KapLearn Certificate IV in Finance and Mortgage Broking (CFMBv2) subject room.
Document classification: Confidential Page 4 of 124
Instructions for completing and submitting this written assignment
Saving your work
Download this document to your desktop, type your answers in the spaces provided and save your work regularly.
•
Use the template provided, as other formats will not be accepted for these assignments.
•
Name your file as follows: StudentNumber_SubjectCode_AS_versionNumber_SubmissionNumber (e.g. 12345678_CFMB_AS_v2_Submission1
).
•
Include your student ID on the first page of the written assignment.
Before you submit your work, please do a spell check and proofread your work to ensure that everything is clear and unambiguous.
Word count
The word count shown with each question is indicative only. You will not
be penalised for exceeding the suggested word count. Please do not
include additional information which is outside the scope of the question.
Additional research
When completing the ‘Client information collection tools’, assumptions are permitted although they must not
be in conflict with the information provided in the Case Studies. All assumptions must be noted.
You may be required to conduct your own research in addition to the topic notes provided to source information to answer some of the assignment questions. You may also be required to source additional information from other organisations within the finance industry to find the products or services to meet your client’s requirements, to source indicative interest rates and to calculate any fees and charges that may be applicable.
Document classification: Confidential Page 5 of 124
Submitting the written assignment
Only Microsoft Office compatible written assignments submitted in the Word template file will be accepted for marking by Kaplan Professional Education. You need to save and submit this entire document. Incomplete written assignments will be returned to you unmarked.
Do not remove any sections of the document.
Do not save your completed written
assignment as a PDF.
The maximum file size for the written assignment (word document) and oral assignment (word document) is 20 MB
. Once you submit your written assignment for marking you will be unable to make any further changes to it. You are able to submit your written and oral assignment earlier than the deadline if you are confident you have completed all parts and have prepared a quality submission.
Please refer to the Assignment submission/resubmission videos
in the ‘Assessment’ section of KapLearn under your ‘Assignment Enrolment’ for details on how to submit/resubmit your written assignment.
Note:
Your written assignment (in Word), oral assignment (in Word) and audio recording must all be submitted together on or before your personal due date. Please check KapLearn for your due date.
Document classification: Confidential Page 6 of 124
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Allowance for Doubtful Accounts
Beg. Bal. [ ][ ][ ]
[ ][ ][ ][ ]
[ ][ ][ ][ ]
[ ][ ][ ][ ]
End. Bal. [ ][ ][ ]
Required 1-b
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[ ] + [ ] - [ ] = $[ ]
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Recommended textbooks for you
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Related Questions
Determine the classification accounts as to asset, liability and equity. If asset or liability determine if it is current or non current
Account title
SFP
classification
1.Accrued rent
2. Marketable securities
3. Deferred income
4. Notes due to suppliers
5. Precollected rent
6. Investment in real estate
7. Notes due from customers
8. Franchise
9. Bad debts
10. Amortization- franchise
11. Patents
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REQUIRED:
(Round all numbers to the nearest RM)
a) Prepare all the related journal entries for Glove Bhd for the financial year 2019.
b) Briefly discuss whether (i) trade receivable and (ii) bank overdraft fulfill the definition of financial assets.
arrow_forward
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Prepare the correct Creditors Control account for May 2020 after taking into account the additional information, errors and omissions. Balance the account. (10)INFORMATIONThe Creditors control account given below was extracted from the records of Oyster Traders for May 2020 before the additional information, errors and omissions provided were considered:
Additional information, errors and omissions1. The debit balance in the account of a creditor, R300, must be transferred to the Debtors ledger.2. An invoice for goods purchased from Super Suppliers was entered in the Purchases journal as R6 400 instead of R4 600.3. A credit purchase of equipment from Minto Enterprises was not recorded, R5 000.4. A credit note received from HD Wholesalers for trading goods returned was not recorded in the Purchases Returns Journal, R1 000.5. Stardom Traders, a creditor, charged Oyster Traders interest on overdue account, R50
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a) Prepare appropriate journal entries for each relevant event.(Round amounts to the nearest dollar). Show your working.
b) What is a qualifying asset? Provide two (2) examples. (maximum 300 words)
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1.
Content Learning Worksheet - Answer the question and provide the page number of your solution.1. ____________ Considering revenue from contracts with Customers, revenue is recognized and measured based on_______________________________________, which is called the _____________________________ approach.2. ____________Name the five steps for Revenue recognition.3. ____________ What is the basic 4-line entry made when a contract exists and performance obligation has been met?4._____________ Define a performance obligation.5.____________What value is revenue recognized at in a non-cash transaction?6.___________List the 5 indicators of change in control of a good or service.
7.___________When is revenue recognized in the following situations:Sales with Returns and Allowances – Credit Sales ___________________________________________________Sales with Returns and Allowances – Cash Sales ___________________________________________________Repurchase…
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Activity # 7 Application of the concepts of Assets, Liabilities, Owner’s Equity, Revenue, and ExpenseThe following table includes SFP and SCI elements. Put a check mark (√) in the column where each accounts belongs to.Account Asset Liability Owner’s Equity Revenue Expenses1. Interest Receivable2. Professional Fees3. Service Income4. Mr. A, Drawing 5. Doubtful Accounts6. Depreciation Expense7. Accrued Interest Income8. Unearned Interest Income9. Prepaid Interest10. Accumulated Depreciation11. Mortgage payable12. Unused Supplies13. Supplies Inventory14. Supplies on hand15. SSS Premium Expense16. Withholding Taxes Payable17. Repairs and Maintenance 18. Petty cash Fund19. Allowance for Bad Debts20. Cash in bank21. Accounts payable22. Prepaid Insurance23. Unexpired Insurance24. Salaries payable25. Utilities Expens
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__________1. An excess of equity over current assets is equal to liabilities.
__________2. The asset is cash or cash equivalent restricted to settle a liability for more than twelve months after the reporting period is classify as current assets.
__________3. Assets are classified as noncurrent if the assets are reasonably expected to be realize in cash or consume beyond the normal operating cycle.
__________4. LCNRV should always be equal to net realizable value.
__________5. Lower of cost and net realizable value gives the lowest valuation if applied to individual item of inventory.
__________6. The amount of any writedown of inventory to net realizable value and all losses of inventory should be recognized as operating expense in the period the…
arrow_forward
Academic access to the FASB Codification is available through university subscriptions, obtained from the American Accounting Association. This subscription covers an unlimited number of students within a single institution. Once this access has been obtained by your school, you should log in to prepare responses to the following exercises.
CE1.1 Describe the main elements of the link labeled “Help, FAQ, Learning Guide, and About the Codification.”
CE1.2 Describe the procedures for providing feedback.
CE1.3 Briefly describe the purpose and content of the “What’s New” link.
arrow_forward
Ma3.
For each one, select:
a. operational activities
b. Investment activities
c. Financial activities
d. Operational part, investment part
e. Financing part, operational part
____1. Costs incurred to settle a long-term debt
____2.Balance of some zero-coupon bonds, five years from its maturity date
____3.Compensation received from an insurance company for the destruction of a warehouse and the inventory that was stored there
____4.Money received as a result of canceling a life insurance policy in which the company was the beneficiary.
____5.Premiums paid for a life insurance policy in which the company was beneficiary.
____6. Dividend received from an investment in common stock accounted for with the equity method.
arrow_forward
SUBJECT: Financial Accounting and Reporting
Instruction: Choose the Debit and Credit Accounts of the following transactions.
TRANSACTION: Paid employees salaries1. Debit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation
2. Credit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation
TRANSACTION: Paid business permits3. Debit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation
4. Credit *a. Cash In Bankb. Accounts Receivablec. Unused…
arrow_forward
Information for the Required Parts are located in the attached image. Thank you!
Required 1-a
Create a T-account for the Allowance for Doubtful Accounts and enter into it the 2014 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. (Enter your answers in thousands.)
Allowance for Doubtful Accounts
Beg. Bal. [ ][ ][ ]
[ ][ ][ ][ ]
[ ][ ][ ][ ]
[ ][ ][ ][ ]
End. Bal. [ ][ ][ ]
Required 1-b
Write the T-account in equation format to prove the above items account for the changes in the account. (Enter your answers in thousands.)
Beginning Balance + - = Ending Balance
[ ] + [ ] - [ ] = $[ ]
Required 2
Record summary journal entries for 2015 related to (a)…
arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
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Author:Gary A. Porter, Curtis L. Norton
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