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AFF3111 2005 Sem 2

AFF3111 2005 Sem 2 - OFFICE USE ONLY Monash University...

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Page 1 of 10 OFFICE USE ONLY Monash University Semester Two Examination 2005 Faculty of Business and Economics Department of Accounting and Finance EXAM CODES: AFF3111 TITLE OF PAPER: PERSONAL FINANCIAL PLANNING EXAM DURATION: 3 hours READING TIME: 10 minutes THIS PAPER IS FOR STUDENTS STUDYING AT: (office use only - tick where applicable) Berwick Clayton Peninsula Distance Education Open Learning ; Caulfield Gippsland Sunway Enhancement Studies Other (specify) During an exam, you must not have in your possession, a book, notes, paper, calculator, pencil case, mobile phone or other material/item which has not been authorised for the exam or specifically permitted as noted below. Any material or item on your desk, chair or person will be deemed to be in your possession. You are reminded that possession of unauthorised materials in an exam is a discipline offence under Monash Statute 4.1. AUTHORISED MATERIALS CALCULATORS ; YES NO OPEN BOOK YES ; NO SPECIFICALLY PERMITTED ITEMS YES ; NO if yes, items permitted are: This paper consists of Seven (7) questions printed on Four (4) pages plus Five (5) pages of Rates and Tables. It comprises 70 marks and represents 70 per cent of your final mark in this unit. PLEASE CHECK THE PAPER BEFORE COMMENCING. THIS IS A FINAL PAPER. STUDENT ID: …………………………... DESK NUMBER: ……………………. THIS EXAMINATION PAPER MUST BE INSERTED INTO ANSWER BOOK AT THE COMPLETION OF THE PAPER. NO EXAMINATION PAPERS SHOULD BE REMOVED FROM THE EXAMINATION ROOM
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OFFICE USE ONLY AFF3111 PERSONAL FINANCIAL PLANNING Page 2 of 10 Answer the following question in the answer booklet provided by writing the Question Number, the part [(a)- (j)] and the nominated answer [(i)-(iv)]. Select the response that you feel best answers the question asked. Question One (a) If interest rates move down, the price of a fixed-interest security should: (i) decrease (ii) remain the same (iii) increase (iv) none of the above (b) Of the following list of items, which does not apply to a complying annuity? (i) Must be payable for the lifetime of the annuitant (ii) Payments must be indexed by the AWOTE (iii) No commutation is allowed after 6 months from commencement (iv) Can be used as security for borrowing (c) A person who dies intestate has: (i) died prior to the death of his/her spouse (ii) died in a State other than their home State (iii) died without leaving a written will (iv) died without appointing an executor (d) A small investor in property may consider purchase of units in a managed fund to: (i) lower the level of risk in their portfolio (ii) increase the level of tax deductible charges (iii) achieve a lower, more secure return (iv) access a more diversified range of properties (e) The sector of the economy that is normally a net borrower is the: (i) household sector (ii) overseas sector (iii) business sector (iv) government sector (f) Which of the following does not constitute a principal step in constructing a financial plan?
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