COURSE OUTLINE

SCHOOL: School of Business

DEPARTMENT: Accounting

PROGRAM: Financial Services

COURSE TITLE: Risk Management and Estate Planning

COURSE CODE: FINA 307

TOTAL COURSE HOURS: 56

PRE-REQUISITES/CO-REQUISITES:

None

COURSE ELIGIBILITY FOR PRIOR LEARNING ASSESSMENT AND RECOGNITION (PLAR):

Not Eligible

ORIGINATED BY: Marshall Garnick REVISED BY:

DATE: January, 2008 APPROVED BY: ___________________________________ Dean/Chair

Students should keep all course outlines for each course taken at Centennial College. These may be used to apply for transfer of credit to other educational institutions. A fee may be charged for additional or replacement copies.

Course Title: Risk Management and Estate Planning CENTENNIAL COLLEGE Course Code: FINA307

COURSE DESCRIPTION: This course is part of the 4-course, Certified Financial Planner TM (CFP TM ) program of study designed by the Canadian Institute of Financial Planning (CIFP). An individual who completes all 4 courses in the CFP program meets the educational requirements of the Financial Planning Standards Council of Canada (FPSCC) and is eligible to write the comprehensive professional proficiency examinations administered by the FPSCC. Successful completion of the comprehensive professional proficiency examinations, together with meeting work experience and ethics requirements, may lead to the receipt of a license to use the Certified Financial Planner certification marks. The Risk Management and Estate Planning course is normally available on a correspondence, self-study basis directly from the CIFP. In co-operation with the CIFP, Centennial College is offering this course in an instructor-led, classroom setting. The course provides a survey of Risk Management and Estate Planning. It is not directed just at developing the professional financial planner. It is also intended for any individual who wants a better understanding of the tools of Risk Management and Estate Planning to better manage their financial affairs. By introducing the fundamentals, this course enables the student to determine his/her interest in Risk Management and Estate Planning and provides a foundation for the more technical courses that follow. The course provides the student an understanding of Risk Management and Estate Planning in order to help clients understand the importance of these subjects as they relate and become an integral part of the financial planning process. The course is divided into fourteen units to be described in detail below. There are 2 marking schemes for this course: one for Centennial College and one for the Canadian Institute of Financial Planning CIFP). Please understand that success at Centennial does not mean that you have received credit for this course from the CIFP. To receive credit from the CIFP. To receive credit from the CIFP, students must meet CIFP standards. This course will be a meaningful credential for employment only if you have passed the course through the CIFP. Please review carefully the grading section of this outline for details of the 2 marking schemes. Note: This course and others in the CFPTM program require the student to have a Hewlett-Packard 10B business calculator. This model is available through

the Centennial College bookstore or at retailers such as Business Depot. Cost is approximately $50.

Issued & Revised by COLT: June 2007 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar)

COURSE LEARNING OUTCOMES: Upon successful completion of this course, the participant will have gained an understanding of how the following topics relate to the risk management and estate planning process: 1. Risk of Disability 2. Health and Long Term Care 3. Risk of Death 4. Risk of Property and Liability Losses 5. Life Insurance Products , Issues, and the Industry 6. Insurance Contracts and Risk Management 7. Family Relationships and Support Obligations 8. Family Property and Other Issues 9. Wills and Powers of Attorney for Property 10. Living Wills, Forms of property Interests, Intestacy, Probate 11. Personal Trusts 12. Estate Planning in Special Situations 13. Death and Taxes 14. Professional Responsibility ESSENTIAL EMPLOYABILITY SKILLS (EES); This course supports the students’ ability to:

communicate clearly, concisely and correctly in the written, spoken, and visual form that fulfills the purpose and meets the needs of the audience.

respond to written, spoken, or visual messages in a manner that ensures effective communication.

execute mathematical operations accurately. apply a systematic approach to solve problems. use a variety of thinking skills to anticipate and solve problems. locate, select, organize, and document information using appropriate technology

and information systems. analyze, evaluate, and apply relevant information from a variety of sources. show respect for the diverse opinions, values, belief systems, and contributions

of others. interact with others in groups or teams in ways that contribute to effective

working relationships and the achievement of goals. manage the use of time and other resources to complete projects. take responsibility for one’s own actions, decisions, and consequences.

PRIOR LEARNING ASSESSMENT & RECOGNITION PROCESS (ES): This course is not eligible for prior learning assessment: EVALUATION & GRADING SYSTEM: CIFP GRADING SYSTEM: Formal Assessments 30 marks Comprehensive Final Examination 70 marks Total 100 marks To qualify for the final examination, students must have completed all CIFP assessments before writing the exam. The final CIFP Grade is weighted 30% for formal assessments and 70% for the final examination. A passing grade is an over-all mark of 60% with a minimum grade of 60% earned on the final examination. The CIFP final examination will be written during final exam week. CENTENNIAL COLLEGE GRADING SYSTEM: CIFP Formal Assessments 30 marks Mid-Term #1 - Units 1-4 inclusive 20 marks Mid-Term #2 - Units 5-8 inclusive 20 marks Based on your grade on CIFP Final Exam 30 marks TOTAL 100 marks STUDENT ACCOMMODATION: All students have the right to study in an environment that is free from discrimination and/or harassment. It is College policy to provide accommodation based on grounds defined in the Ontario Human Rights Code. Accommodation may include changes or modifications to standard practices. Students with disabilities who require academic accommodations must register with the Centre for Student with Disabilities. Please see the Centre for Students with Disabilities for details. Students requiring accommodation based on human rights grounds should talk with their professors as early as possible. Details are available on the Centennial College website (www.centennialcollege.ca ) If students are unable to write an examination due to a medical problem or unforeseen family problems, they should immediately contact their professor or program Chair for advice. In exceptional and well-documented circumstances (e.g. unexpected family problems, serious illness, or death of a close family member), students should be able to write a make-up examination to replace an examination missed.

TEXT AND OTHER INSTRUCTIONAL/LEARNING MATERIALS: Large binder entitled "Risk Management and Estate Planning", published by the Canadian Institute of Financial Planning. Second-hand material is not permitted as per agreement with the CIFP. Material is frequently updated and the most recent binder is required. Students must have the binder with them for each class. Note: This course and others in the CFPTM program require the student t have a Hewlett- Packard 10B business calculator. This model is available through the Centennial College bookstore or at retailers such as Business Depot. Cost is approximately $50. USE OF DICTIONARIES: Students are permitted to use a bilingual paper dictionary during tests and exams. The invigilator reserves the right to examine the dictionary for any supplemental notations. There is to be no use of electronic devices including dictionaries. Probationary Policy: Please contact your academic department for details.

Issued & Revised by COLT: June 2007 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar)

Course Title: Risk Management and Estate Planning Centennial College Course Code: FINA307

WEEK

TOPIC/CONTENT

READINGS

LEARNING OUTCOMES

INSTRUCTIONAL STRATEGIES USED

COURSE EVALUATIONS

(TESTS & ASSIGNMENTS

USED) 1 Administration Course

Overview Intro to CIFP.

Registration/Overview. Lecture, questions and discussions. Read Unit 1

2 Risk of Disability Unit 1 See beginning. Lecture/Discussions/Assessment Read Unit 2

3 Health and Long Term Care

Unit 2 See beginning of Unit 2 Lecture/Discussions/Assessment Read Unit 3

4 Risk of Death

Unit 3 See beginning of Unit 3

Lecture/Discussions/Assessment Read Unit 4.

5 Life insurance Products Unit 4 See beginning of Unit 4 Lecture/Discussions/Assessment Read Unit 5.

6A TEST 1 Units 1-4 Inclusive

6B Risk of Property and liability losses

Unit 5 See beginning of Unit 5 Lecture/Discussions/Assessment Read Unit 6.

7 Insurance Contracts and Risk Management

Unit 6 See beginning of unit 6 Lecture/Discussions/Assessment Read Unit 7.

8 Family Relationships and Support Obligations

Unit 7 See beginning of Unit 7 Lecture/Discussions/Assessment Read unit 8.

sed by COLT: June 2007 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar)

Issued & Revi

WEEK

TOPIC/CONTENT

READINGS

LEARNING OUTCOMES

INSTRUCTIONAL STRATEGIES USED

COURSE EVALUATIONS

(TESTS & ASSIGNMENTS

USED) 9 Family Property and

Other Issues Unit 8 See beginning of Unit 8 Lecture/Discussions/A

ssessment Read Unit 9.

10A TEST #2 Units 5-8 inclusive.

10B Wills and Power of Attorney

Unit 9 See beginning of unit 9 Lecture/Discussions/Assessment Read unit 10.

11 Living Wills Unit 10 See beginning of Unit 10 Lecture/Discussions/Assessment Read Chapters 11 & 12.

12 Personal Trusts Estate Planning in Special Situations.

Units 11 & 12 See beginning of Units 11 & 12 Lecture/Discussions/Assessment

13 Death and Taxes Unit 13 See beginning of Unit 13 Lecture/Discussions/Assessment Read Unit 14.

14 Professional Responsibility

Unit 14 See beginning of Unit 14 Lecture/Discussions/Assessment Discussion and review

15 FINAL EXAM-CIPF

POLICY STATEMENTS College Policies The following statements are selected from Centennial College policies approved by the Board of Governors. Student Responsibilities Students are expected to know the contents of the course outline and to discuss with the professor any areas where clarification is required. Students should keep all course outlines for each course taken at Centennial College. These may be used to apply for transfer of credit to other educational institutions. A fee may be charged for additional or replacement copies. Other Policies Students should familiarize themselves with all College Policies that cover students’ rights, responsibilities, and the Academic Appeal process. For further information, consult the Academic Matters Section in the full-time and continuing education calendars. The Academic Appeal Application form is available from any Enrolment Services (Registrar) Office. Proof of Student Status Students are obliged to produce official photo identification at any time during the semester when requested to do so by any professor. (The official piece is the Centennial Student Card.) Continuing Education students do not have Centennial Student Cards, and so they may use other forms of photo identification, such as a driver’s license, health card, or other government-issued photo identification. Final Examinations When writing a test or examination, students must put their official photo-ID cards in full view, for review by the invigilator. Students who do not have official photo-ID will be permitted to write the examination with a substitute photo-ID, but they will be required to produce photo-ID at the program or department office within 24 hours or the next business day following the examination, or else the examination results will be void. Faculty Consultation Professors are available to see students outside of class time. Students can contact professors via voice mail, email, or through their program or department office. Information regarding how to contact teachers will be provided at the beginning of the course and is also available in the program or department office.

Human Rights Statement It is the policy of the College that all programs will strive for a learning, teaching, and working environment that promotes inclusion, understanding and respect for all students and employees, consistent with the Ontario Human Rights Code and the Centennial College's Statement of Diversity.