Personal Finance I

Curriculum guideline

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Course
FINC 2300
Discontinued
No
Course code
FINC 2300
Descriptive
Personal Finance I
Department
Finance
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
Not Specified
PLAR
No
Semester length
15 Weeks
Max class size
35
Course designation
None
Industry designation
CFP,QAFP
Contact hours

Lecture: 2 hours/week

Seminar: 2 hours/week

Method(s) of instruction
Lecture
Seminar
Learning activities

Lectures, in-class and online assignments, completion of own personal financial plan.

Course description
This course applies the six-step financial planning process to basic financial planning scenarios. Topics include setting goals, creating personal financial statements, debt management and calculation of mortgage financing options. Savings and investment products are covered as well as the essentials of RRSPs, TFSAs, FHSAs, RDSPs, government benefit programs, and personal insurance. Taxation as it relates to long-term personal financial planning is covered at an introductory level. In addition, an overview of the products and services available to individuals through financial institutions will be covered.
Course content
  1. Introduction to financial planning steps and components.
  2. Introduction to personal income tax.
  3. Calculating saving and investing requirements to reach goals.
  4. Mortgages and debt planning.
  5. Insurance products and planning.
  6. Government programs including OAS, CPP, GIS, RRSP, FHSAs, RESPs, RDSP, and TFSAs.
  7. Retirement planning.
  8. Wills and estate planning basics.
Learning outcomes

Upon completion of the course, a successful student will be able to:

  1. develop effective financial planning goals;
  2. prepare and analyze personal financial statements (including a personal budget, cash flow statement, and statement of net worth);
  3. incorporate knowledge of personal income tax in financial planning decisions;
  4. consider and calculate various types of personal insurance needs and coverage options;
  5. recommend appropriate asset mix to reach financial goals;
  6. analyze financial factors impacting mortgage qualification; and
  7. calculate and recommend strategies to achieve retirement goals using FP Canada mortality assumptions, RRSPs, TFSAs, OAS, CPP, and pensions.
Means of assessment

Assessment will be based on course objectives and will be carried out in accordance with the swagÂ鶹 Evaluation Policy.

Assignment(s) or case(s)

10% - 20%

Term Tests or quizzes

30% - 50%

Individual Financial Plan

10% - 15%

Final Exam

30% - 40%

 

100%

No single assessment will be worth more than 40%.

Students must achieve a minimum grade of 50% on the combination of term exams and the final exam, or any other component that is individual and invigilated under exam conditions. Instructors will provide clarifications as to which components are considered invigilated components in their course outlines.

Textbook materials

Textbooks and materials to be purchased by students

Madura, Jeff and Gill, Hardeep S. Personal Finance. Latest Canadian Edition, Pearson, or alternate textbook approved by department.

Calculator: Texas Instruments BA II Plus or as approved by department

Prerequisites

One of FINC 1231, FINC 1230, MATH 1120, MATH 1125, ACCT 1235, or ACCT 1210,

OR currently active in one of the following:

PBD Accounting 
PBD Accounting and Finance
PBD Finance
PDD Accounting 
PDD Financial Analysis 
PDD Financial Planning
PDD Global Banking and Economics

Corequisites

None

Equivalencies

None

Which prerequisite

FINC 3300