1202AFE Financial Planning 1 Assessment Answers

Explanation Of The 1202AFE Financial Planning 1 Course Code

The 1202AFE Financial Planning 1 course code is related to the financial planning. Financial planning refers to the step-by-step process for meeting the goals of life. Financial plan acts as guide as one goes through the journey of life. It aids one in controlling the expenses, income and the expenses such that one is able to manage their money and in achieving their goals.

The 1202AFE assignment answers course code is associated with the Victoria University, a renowned and well-known public research university located in Melbourne, Australia.

Unit Details

The 1202AFE assessment answers unit describes the knowledge and skills necessary for establishing the standards for the production and the design of the organizational documents and in managing the document design and the process of production for ensuring that the expected standards are accomplished. It is applicable to the individuals employed within the range of the work environment who seem to require well-developed skills. They seem to use the skills for establishing, documenting and implementing the consistent standards of the document design within the organization.

Location: Werribee, Footscray Nicholson

Study Level: Vocational and Further Education (TAFE)

Unit Code: 1202AFE

Brief Of 1202AFE Financial Planning 1 Assessment

Assessment tasks are designed for reinforcing and extending skills and knowledge competence within controlled and set parameters according to the learning outcome of each unit and the requirements of the performance criteria that included the work associated task of practical application designed for providing evidence of the competence outcomes within scheduled and periodic application task.

In 1202AFE assessment answers course students are expected towards demonstrating the necessary skills such as identification of the needs of the organization, capabilities of the information technology and the requirements that holds relevance to the production and the design of the documents, establishment of the documentation standards for meeting the requirements of the organization including designing, testing and amending the document templates.

It also involves the implementation and development of the training and documentation for supporting use of the standard templates. It also involves monitoring implementation of the templates for standard documents and make further improvements according to the requirements of the organization. Students are also expected towards describing the production process of the document, identification of the cost involved with implementation of the standard documentation and explanation of software applications that holds relevance to the development and the document design within the organization. It also involves the identification of the key provisions of related regulations and the legislation standards and codes impacting the production of the document.

Weightage of this 1202AFE Financial Planning 1 Course Code in Their Semester? 

The 1202AFE assessment answers course code is a part of the curriculum and hence grade received by students depends on it. Undertaking a course on financial planning comes with various benefits for the students. It helps students to know the ways of increasing their savings. This is because it allows the creation of financial plan which provides insight to the expenses and then income.

One is able to either cut down the cost in a conscious manner. It thus automatically helps in raising the savings in long-run. It also teaches the students to enjoy a better living standard. Most of the people seem to assume that they require to sacrifice the living standard if the EMIs and the bill payments needs to be addressed. A good financial plan would help the student learn how they can pay the bills without sacrificing. A course on the financial planning also prepares the students for the emergencies.

Creation of emergency fund serves as one of the critical aspects of financial planning. It further provides an insight to how the emergency fund can help in case of job loss or a family emergency. In addition to this, it also teaches the students to attain peace of the mind. It also allows the student to further take a note of adequate amount of funds in hand allows in covering the monthly expenses, future goals and splurging on oneself and the family without any kind of worry.

Thus, students learn in managing their money efficiently and in enjoying peace of the mind. If one stays on the path of the financial planning destination of the financial peace does not seem to be far off. Financial planning not simply contributes to increasing the savings and reducing the expenses, it is something more. This includes preaching about creation of wealth, planning for retirement and the education of the child. As far as the wealth creation is concerned, it can be said that with rise in the price of the everyday items one is able to increase or create wealth for the future. The 1202AFE task solution course also focuses on the significance of the wealth creation. It is possible towards achieving the goals through careful investment of the money in suitable avenues.

It also focuses on how the equity mutual fund can be a suitable option for the long-term goals. This fund aids the investor in accumulating the wealth in long-run. When it comes to retirement planning, students come to know what will be retirement like 25 to 30 years down the line. It enables them to plan much in advance and enjoy a comfortable and happy retired life that will ensure their safety. Planning at the earlier stage helps in securing the future against the financial uncertainties. Students will also learn how to invest lesser amount if one start early and begins gaining from the compounding that helps in building a bigger amount of wealth over a longer period of time.

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Students will also learn how they will be able to plan for the education of their future generation. Education has become too expensive around the world and the future cost is expected to rise. Hence, it is vital to begin planning from the instance as soon as the child takes birth. It also allows one to calculate how much he or she one wishes in earning and begin investing for the avenues of the long-term which can help in achieving the goal. Students also gather knowledge about financial advisor and the ways of proceeding further.

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