OFFICE OF ACADEMIC AFFAIRS

Reference No. : XMUM.OAA - 100/2/8-V1.0

Effective Date : 26 FEBRUARY 2018

DESCRIPTION OF COURSEWORK

Course Code G0210

Course Name Introduction to Personal Financial Planning
Lecturer Dr. Tan Khar Mang
Academic Session 2019/04
Coursework (Group Assignment 2 - Report of Personal
Assessment Title
Financial Analysis)

A. Introduction/ Situation/ Background Information

This is a group assignment which forms part of the course. A personal finance case “Cory and
Tisha Dumont” is distributed to enable students to apply their knowledge learn in the personal
financial planning module, especially on personal insurance management and decision.

B. Course Learning Outcomes (CLO) covered

At the end of this assessment, students are able to:

CLO 1: Learn to make wise decision and practices in managing their savings and spending.
CLO 2: Apply time value of money concepts and explain the risk and return in financial and
investment planning.
CLO 3: Demonstrate a comprehensive understanding of financial planning concepts and
application in making personal financial decisions.
CLO 4: Identify the major components of a personal financial plan.
CLO 5: Describe the importance and basic practice in personal budgeting, investment
planning, insurance planning, personal debt management and retirement planning.
CLO 6: Describe the types, characteristics and appropriate use of types of personal loan,
house loan and insurance policies.

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C. University Policy on Academic Misconduct

1. Academic misconduct is a serious offense in Xiamen University Malaysia. It can be defined

as any of the following:
i. Plagiarism is submitting or presenting someone else’s work, words, ideas, data or
information as your own intentionally or unintentionally. This includes incorporating
published and unpublished material, whether in manuscript, printed or electronic form
into your work without acknowledging the source (the person and the work).
ii. Collusion is two or more people collaborating on a piece of work (in part or whole)
which is intended to be wholly individual and passed it off as own individual work.
iii. Cheating is an act of dishonesty or fraud in order to gain an unfair advantage in an
assessment. This includes using or attempting to use, or assisting another to use materials
that are prohibited or inappropriate, commissioning work from a third party, falsifying
data, or breaching any examination rules.

2. All the assessment submitted must be the outcome of the student. Any form of academic
misconduct is a serious offense which will be penalised by being given a zero mark for the
entire assessment in question or part of the assessment in question. If there is more than one
guilty party as in the case of collusion, both you and your collusion partner(s) will be
subjected to the same penalty.

D. Instruction to Students

1. This is a Report of Personal Financial Plan Analysis/ Group Assignment 2 (with the
maximum of 2,000 words), which consists of One (1) case. All questions are compulsory.
Marks will be given based on the overall written idea quality and the provided information
accuracy in the assignment.
2. The assignment must be completed and submitted on a group basis. Students are divided into
10 groups and each comprises of 6 members. Students are required to cooperate and work
with their peers on all the assigned tasks.

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3. The group is required to prepare a PowerPoint slides and present it in the class. Time
allocated for each group presentation will be between 10 to 15 minutes including Q&A
session.
4. The group is required to submit the hardcopy and softcopy. The hardcopy cover page use
the unified assignment cover page, the latter can be downloaded from Moodle. The
softcopy filename should be in the format “Personal Financial Plan Analysis Assignment
(Group_number).pptx” for presentation slide and “Personal Financial Plan Analysis
Assignment (Group_number).docx” for analysis report. Due date of the assignment: 16th
July 2019 (Tuesday) for Group 1 and 18th July 2019 (Thursday) for Group 2, please
kindly hand in the hardcopy to your lecturer in your class on that day.
5. A full reference list of all research/ resources used in the preparation and delivery of the
report. A set of accurate minutes of group meetings held in the preparation of the report can
be attached in Appendices. A brief (maximum of 500 words) group reflection - which will
review what each team member contributed in the development of the report, how the team
worked as a coherent body, and how the team achieved its objectives. This can be printed
right after the analysis report.
6. Total word limit for this group assignment = maximum of 1,500 words for analysis report +
maximum of 500 words for group’s reflection on preparing for this group assignment =
maximum 2,000 words. Every 100 words or less exceeding the word limit might result in
reduction of 1 mark.
7. Presentation will be marked over 20% and converted to 10% for the whole semester
assessment. Assignment will be marked over 100% and converted to 30% for the whole
semester assessment. Any late submission subjects to marks deduction.
8. Attach the marking rubric (Appendix 1 and 2) together with your group project, it should be
right after the cover page and before the start of your analysis report.
9. Answers are to be type-written. No handwritten submissions are permitted.

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E. Evaluation Breakdown
No. Component Title Score (Mark) Percentage (%)
1. Presentation 20m 10%

• Content 4 2
• Slide/ Grammar and spelling 4 2
• Presentation Skills 4 2
• Preparedness/ participation 4 2
• Comprehensive 4 2
Please refer Appendix 1

2. Report 100m 30%

• Analysis 75 22.5

• Introduction 5 1.5
• Conclusion 5 1.5
• Group Reflection 5 1.5
• Formatting 5 1.5
• References 5 1.5
Please refer Appendix 2

TOTAL 40%

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F. Case Study

Case: Cory and Tisha Dumont

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G. Task(s)

Answer the following questions based on the given case: [75 marks]

1. a. After reviewing the earnings multiple approach and the needs approach, Cory and Tisha
opt for the simpler earnings multiple approach to estimate their life insurance needs. As Cory
explains, “There are just too many unknowns in that needs approach formula. Years of
income to be replaced I can understand. If I die tomorrow, I want to know that Tisha can buy
a home and the kids can finish college. Chad is 4 and Haley is 2. With 20 years of my income,
they should be able to do that.” Tisha agrees, although she cautions that before purchasing
insurance she would like to confirm their estimates by completing the needs formula. They
agree that they could earn a 5 percent after-tax, after-inflation return on the insurance benefit.
Do Tisha and Cory have adequate life insurance? If not, how much should each consider
purchasing? (Hint: Remember that expenses drop by 22 percent for a surviving family of
three. Be sure to consult Table 2 of chapter “Life and Health Insurance”, “Earnings Multiples
for Life Insurance.”) [8 marks]

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b. Cory’s been on the Internet again, this time to read about universal life and variable life
insurance. He has asked your opinion about purchasing one of these policies to provide
additional insurance coverage for his family. What would you advise him to do? Defend your
answer. [4 marks]

c. The Dumonts have asked you to review their life insurance policies and explain them “in
plain English.” What standard life insurance policy clauses or optional riders would you
consider to be most important to Cory and Tisha?
[10 marks]

2. a. Do Tisha and Cory have adequate health insurance? If not, what changes would you
suggest and why? [ 4 marks]

b. Assume Tisha is injured in a car accident and incurs $5,000 of medical bills. What are the
options for paying this bill? How would your answer change if the $5,000 bill resulted from
an emergency appendectomy? Assuming that no one else in her family has made a claim this
year, how much of the bill would her insurance company pay? [6 marks]

c. Next month is the “annual open enrolment period” for health insurance benefits through
Tisha’s employer. It is the only time of the year when she can make changes to her policy.
Tisha is considering switching to a different health maintenance organization (HMO) or
Preferred Provider Organization (PPO) plan. What are the advantages and disadvantages of
each form of managed care? [8 marks]

d. Both Tisha and Cory are considering the purchase of disability insurance because Cory has
none and Tisha’s employer-provided policy is very short term. What policy features would
you recommend they include? [5 marks]

3. a. Evaluate the Dumonts’ auto insurance. What recommendations for changes, if any, would
you make? Why? [6 marks]

b. How much would the Dumonts’ policy pay if Cory or Tisha were at fault for an accident that
resulted in $65,000 of bodily injury losses? How would the claim be paid? [8 marks]
4. a. Do Tisha and Cory have adequate renter’s insurance? What recommendation would you
make? Why? [6 marks]

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b. What policy options could the Dumonts select to reduce the cost of their property and
liability insurance? [5 marks]
c. What type of homeowner’s policy should the Dumonts select when they purchase their first
home, assuming they are very cautious about protecting their financial situation?
[5 marks]

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 APPENDIX 1
MARKING RUBRICS

Component Title Project of Personal Financial Plan Analysis/ Group Assignment 2 Presentation Percentage (%) 10%
Criteria Score and Descriptors Score Weight Mark
(%)
Very Good (4) Average (3) Need Improvement (2) Poor (1)
Organization Student shows enthusiasm Student presents information Audience has difficulty following Delivery not smooth and 2
and presents information in in logical sequence which presentation because student audience attention lost because
logical, interesting sequence audience can follow. jumps around. there is no sequence of
which engages the audience. information.
Content Accurate and in depth Accurate information, Some information is inaccurate, Information is inaccurate, most 2
information, sufficient sufficient information, some sufficient information, some sources are not cited.
amount of information, resources not cited. resources are not cited.
proper citing of resources.
Subject Student demonstrates full Student is at ease with Student is uncomfortable with Student does not have grasp of 2
Knowledge knowledge (more than information and gives information and is able to answer information; student cannot
required) and answers all expected answers to all only rudimentary questions. answer questions about subject.
questions with explanations questions, but fails to
and elaboration. elaborate.
Style/Mechanics The electronic presentation The electronic presentation is Lacks style and reads more like a The presentation lacks a clear 2
(PowerPoint) displays elements of clear and logical and contains list of information, than as a focus and there are many errors.
creativity and style, and is pertinent information and support for an oral presentation. Electronic presentation is not
not simply a list of images. Good clear oral Lacks neatness and clarity. creative.
information. The electronic presentation.
presentation is presented in
a clear and concise manner.
Communication & Student uses a clear voice Student's voice is clear. Student's voice is low. Student Student mumbles, incorrectly 2
Time and correct, precise Student pronounces most incorrectly pronounces terms. pronounces terms, and speaks too
Management pronunciation of terms so words correctly. Most Audience members have quietly for students in the back of
that all audience members audience members can hear difficulty hearing presentation class to hear and/or the
can hear presentation. The presentation. The presentation and/or the presentation was presentation was too brief or too
presentation was of the was of the proper duration. somewhat short or somewhat long.
proper duration. long.
TOTAL /20 10 /10
Note to students: Please print out and attach this appendix together with the submission of group project.
 APPENDIX 2
MARKING RUBRICS
Component Title Project of Personal Financial Plan Analysis/ Group Assignment 2 Report Percentage (%) 30%
Criteria Score and Descriptors Score Weight Mark
(%)
Excellent Good Average Need Improvement Poor
(5) (4) (3) (2) (1)
Analysis Please refer to Section G. Task(s) 22.5

Introduction Excellent summary of Good summary of Satisfactory summary Limited summary of Few or no discussion of 1.5
relevant key issues. relevant key issues. of relevant key issues. relevant key issues. relevant key issues.
Conclusion Excellent linking to Good linking to Satisfactory in linking Limited in linking to Few or no linking to 1.5
earlier discussions. earlier discussions. to earlier discussions. earlier discussions. earlier discussions.
Group reflection In-depth discussion and In-depth discussion General discussion Limited discussion Few or no discussion 1.5
critical reflection of or critical reflection and reflection of roles and reflection of and reflection of roles
roles and of roles and and responsibilities of roles and and responsibilities of
responsibilities of responsibilities of members. responsibilities of members.
members. members. members.
Formatting Excellent academic Good formatting Satisfactory Poor language or Poor language and 1.5
writing and including academic formatting including presentations. presentations.
presentation. writing. grammars etc.
References Excellent quality and Good references in Satisfactory usage of Limited usage of Few or no usages of 1.5
quantity of references terms of quality and quality and quantity quality and quantity references.
used. quantity. of references. of references.
TOTAL /100 30 /30
Note to students: Please print out and attach this appendix together with the submission of group project.