Lisa Case Study - Report Writing - Accounting and Finance Assignment Help

Assignment Task:

About this document

This document is the oral assignment — half of the overall written and oral assignment.

This document includes the following parts:

• Part 1: Instructions for completing and submitting the oral assignment

• Part 2: Role-play (20 minutes).

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 oral assignment within your enrolment period. Your study plan is in the DFP2 Insurance and Risk Protection subject room.

You will need to start preparing for your oral assignment a few weeks before the written and oral assignment is due.

Part 1: Instructions for completing and submitting the Oral Assignment

Completing the oral assignment

The Insurance and Risk Protection subject will have introduced you to the concepts of personal risk management as they apply to retail clients and considers the participants, products and regulation within the insurance industry. The principles underpinning policy documentation, underwriting, risk appraisal and pricing are also covered, as are approaches to designing client recommendations using insurance products.

This oral assignment is an assessment of your verbal communication skills — how you build a relationship with a client, how you explain key issues to a client and respond to their questions, and how you manage a meeting so that it runs professionally and on time. The assessment will confirm your ability to apply the knowledge and skills developed in the DFP2 Insurance and Risk Protection subject in an interaction with a client.

For this assignment you are required to complete a role-play of 20 minutes.

More information regarding requirements for the oral assignment are provided in the resources in your subject in KapLearn.

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_Oral_versionnumber_Submissionnumber
(e.g. 12345678_DFP2_OR_v6_Submission1).

• Include your student ID on the first page of the assignment.

Before you submit your work, please do a spell check and proofread your work to ensure that everything is clear and unambiguous.

Part 2: Role-play

You will participate in a role-play for a maximum of 20 minutes. The role-play will be conducted by audio recording. You will need a volunteer to assist you in the role-play.

For your volunteer you need to select an appropriate person who is able to participate in the volunteer role criteria below. The volunteer needs to understand that this is part of your assessment. Provide a copy of the Volunteer Guide in your KapLearn subject to your volunteer so they understand what they need to do in your assessment.

You will not be assessed on your acting ability. Rather, you will be assessed on the criteria listed below under the student role.

When starting your role-play recording, ask your volunteer if they give permission to be included in the audio recording. The volunteer needs to agree before the recording may continue.

See the resources in your subject in KapLearn to assist you in preparing for your role-play.

The case scenario

Lisa has come to see you regarding the life insurance recommendations you made in the SOA you recently presented to her and Geoffrey.

You should read the fact finder in the DFP2 assignment again to ensure you ‘know’ Lisa and Geoffrey. In the interview you will need to engage with her and knowing about their life, their family and their situation will help you do this naturally.

They have six concerns represented by the following questions:

1. The cost of the trauma policies seems very high. Do we really need to pay off the mortgage if we experience a short-term traumatic illness or accident?

2. Are there any super funds that offer trauma insurance?

3. Why did you recommend a personal income protection policy for Geoffrey when his super fund offers that cover?

4. Is there any way we can reduce the cost of the income protection policies whilst retaining the same benefit?

5. Why does Geoffrey need more life/TPD cover than me?

6. Why can’t Geoffrey switch to the same super fund as me and take out $2m life/TPD cover?

You should prepare your responses to these questions as either a speech (a one-way conversation) or as a dialogue (a two-way conversation). The detailed requirements of your oral are addressed below.

Your situation

You should imagine yourself to be a qualified financial adviser. Even if you have no face-to-face experience with clients seeking financial advice, you should present yourself in a professional and competent manner. Be the adviser you would want to have if you were in Lisa’s situation.

Managing the client interview

You need to prepare for the oral. As you will see as you read on, you will not be able to satisfy the assessor without knowing the study material, planning the dialogue you will have with the client, practising your presentation and planning the way the meeting will run.

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