ABUS F120

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ABUS F120

  1. 1. PERSONAL FINANCE & INVESTING ABUS F120 *3980* ABUS F120 UY5 *3980*
  2. 2. Student Code of Conduct UAF students are subject to the Student Code of Conduct. In accordance with board of regents’ policy 09.02.01, UAF will maintain an academic envi- ronment in which freedom to teach, conduct research, learn and administer the university is protected. Students will benefit from this environment by accepting responsibility for their role in the academic community. The principles of the student code are designed to encourage communication, foster academic integrity and defend freedoms of inquiry, discussion and expression across the university community. UAF requires students to conduct themselves honestly and responsibly, and to respect the rights of others. Conduct that unreasonably interferes with the learning environment or violates the rights of others is prohibited. Students and student organizations are responsible for ensuring that they and their guests comply with the code while on property owned or controlled by the university or at activities authorized by the university. The university may initiate disciplinary action and impose disciplinary sanctions against any student or student organization found responsible for committing, attempting to commit or intentionally assisting in the commission of any of the following prohibited forms of conduct: * cheating, plagiarism or other forms of academic dishonesty * forgery, falsification, alteration or misuse of documents, funds or property * damage or destruction of property * theft of property or services * harassment * endangerment, assault or infliction of physical harm * disruptive or obstructive actions * misuse of firearms, explosives, weapons, dangerous devices or dangerous chemicals * failure to comply with university directives * misuse of alcohol or other intoxicants or drugs * violation of published university policies, regulations, rules or procedures * any other actions that result in unreasonable interference with the learning environment or the rights of others. This list is not intended to define prohibited conduct in exhaustive terms, but rather offers examples as guidelines for acceptable and unacceptable behavior. Honesty is a primary responsibility of you and every other UAF student. The following are common guidelines regarding academic integrity: 1. Students will not collaborate on any quizzes, in-class exams, or take-home exams that contribute to their grade in a course, unless the course instructor grants permission. Only those materials permitted by the instructor may be used to assist in quizzes and examinations. 2. Students will not represent the work of others as their own. A student will attribute the source of information not original with himself or herself (direct quotes or paraphrases) in compositions, theses, and other reports. 3. No work submitted for one course may be submitted for credit in another course without the explicit approval of both instructors. Alleged violations of the Code of Conduct will be reviewed in accordance with procedures specified in regents’ policy, university regulations and UAF rules and procedures. For additional information and details about the Student Code of Conduct, contact the dean of student affairs, visit www.alaska. edu/bor/ or refer to the student handbook that is printed in the back of the class schedule for each semester. Students are encouraged to review the entire code. September 2005
  3. 3. three credit hours ABUS F120 Personal Finance and Investing developed by BG Olson, J.D. revised and instructed by Herb Kuss email: hpkuss@alaska.edu Copyright © 2009 University of Alaska Fairbanks
  4. 4. Table of Contents Introduction .............................................................................................................................................................v Planning Schedule / Personal Information ...................................................................................................viii Lesson 1 Introduction to Financial Planning & Personal Career Strategies ..............................1 Lesson 2 Money Management and Your Taxes .....................................................................................5 Lesson 3 Banking Services Introduction to Consumer Credit ........................................................9 Lesson 4 Sources of Credit Consumer Purchasing Strategies .........................................................13 Lesson 5 Financing of Housing and Auto/Home Insurance ............................................................17 Mid-Term Exam.............................................................................................................................21 Lesson 6 Health Care, Disability and Life Insurance ..........................................................................25 Lesson 7 Fundamentals of Investing and Investing in Stocks .........................................................29 Lesson 8 Investing in Bonds and Mutual Funds...................................................................................33 Lesson 9 Real Estate, Other Investments, and Retirement Planning............................................37 Lesson 10 Estate Planning .............................................................................................................................41 Special Project ...............................................................................................................................43 Final Exam ......................................................................................................................................45 Independent Learning Page iii
  5. 5. INTRODUCTION REQUIRED TEXT AND MATERIALS Personal Finance, 9th edition Personal Financial Planner (that accompanies the text) Kapoor, Dlabay, & Hughes, McGraw-Hill/Irwin Publishing Inc, 2008 SUPPLEMENTARY The Wall Street Journal Barron’s Kiplinger’s Personal Finance magazine Money magazine Smart Money magazine Worth magazine COMMENTS Each day, technological developments and an expanding global economy influence personal financial decisions. This atmosphere of change makes it crucial that all spending, saving, borrowing, and investing decisions be wise, informed choices. This course is designed to provide the informational and decision making tools needed for planning and implementing a successful personal financial plan, to include: personal investments, insurances, real estate, tax strategies, retirement planning, and estate planning. COURSE INFORMATION Personal financial planning, goal setting and investing. Stocks, bonds, trusts, securities, options, real estate and other investment vehicles. Inflation, taxes, interest rates, retirement and selecting financial planners. INSTRUCTOR CONTACT INFORMATION Instructor: Herb Kuss Paper/Fax Mail: send to CDE email: hpkuss@alaska.edu Independent Learning Page v
  6. 6. COURSE ORGANIZATION For each lesson, you are required to read one or more chapters in the textbook. You should also read materials from the suggested supplementary reading. It is important to read all assigned materials and to learn all terms incor- porated in that lesson. A glossary of terms is provided at the end of each chapter for your utilization in understanding terms which are new to you. It is important that you pay particular attention to the chapter learning objectives and concept checks offered within each chapter. When you have completed each lesson, you should be thoroughly familiar with all material set for in the objectives, writing about and discussing the subjects with ease. Use the objectives and concept checks as a guide to what you should know when you have completed the lesson. The lessons include study questions to be answered in essay form, as well as some true/false questions and mul- tiple choice questions. All questions should be answered by using the textbook. This will help reinforce your under- standing and retention of the material. DO NOT COPY from the book. Write the answers in your own words, explain- ing and adding to them when you can. Write the question out, then answer it. The amount of work in this course corresponds closely with a similar classroom course. Although you have one calendar year to complete a correspondences study course, you should be able to complete a lesson every two weeks or more often if you desire. Make out a study schedule, and stick to it. This provides the best opportunity to learn the information. Please do not complete and submit more than one lesson each week without the instructor’s permission. COURSE OBJECTIVES The course is designed to enable you to identify strategies for achieving personal financial goals throughout life, by providing important information in making spending, buying, and investing decisions. By all means, it is not intended to be a complete guide to investing or provide advice on specific personal investment decisions. If you successfully complete the course, however, you should be able to better analyze your financial position, and either alone, or with the professional assistance of a financial planner, prepare a personal financial plan through the utilization of informa- tion and methods of analysis you will learn. ASSIGNMENTS IT IS ESSENTIAL THAT THE FOLLOWING INSTRUCTIONS ARE FOLLOWED CONCERNING THE REQUIREMENTS AND FORMAT OF THE LESSONS YOU TURN IN. ESSENTIAL!!! Please type or hand print in ink (no pencils), neatly and legibly. It is preferred that each assignment be typed on 8 1/2” x 11” white paper, DOUBLE-SPACED, with wide margins for instructor’s comments. Use only one side of the paper. If you print by hand, please TRIPLE SPACE on college-ruled 8 1/2” x 11” paper, with at least a two-inch margin on all four sides of the paper. The course name, lesson number, your name, and page number should be in the upper right hand corner of EVERY PAGE. Also, please number each answer to correspond to the ques- tions and problems you are answering. Page vi Personal Finance and Investing
  7. 7. EXAMINATIONS There will be a mid-term examination after LESSON 5, which will cover everything to date, and a final examina- tion which will cover the second half of the course. A special project accompanies the course, and should be complet- ed before the final examination is taken. All examination questions will be taken from material in the text. Be sure to keep your returned lessons for study purposes. SPECIAL PROJECT The Personal Financial Planner that accompanies Personal Finance, 4th edition, is designed to enhance student learning. This supplement has more than 70 worksheets for creating and implementing a personal financial plan. It is divided into twelve sections which consists of worksheets for assessing one’s personal financial situation, selecting actions to be taken, and evaluating actions for specific financial decisions. This project will be graded on completeness and information researched. It is a good idea to complete each section as it relates to the lessons you are presently completing. PROJECT ASSIGNMENT Construct a financial plan for yourself and/or your family, or (if you prefer) for a fictional person, using the financial planning booklet that came with the text. Complete all sections which may pertain to the person or persons in the financial plan. Remember to diversify your investments. If you have any questions about this requirement, please make your requests during lesson submissions GRADES Grades for individual lessons will be based upon the quality of the written answers to the study questions and the correct answers to the true/false and multiple choice questions. The final course grade will be based on lessons (40%), special project (10%), the mid-term and final examinations (25% each for a total of 50%). All assignments and exami- nations must be complete in order to receive credit for this course. A - An honor grade, indicates originality and independent work, thorough master of the subject, and the satisfac- tory completion of work greater than required. B - Outstanding ability above the average level of performance. C - Indicates a satisfactory level of performance. D - Indicates work below average quality and performance. The lowest passing grade. F - Failure. (All “F” grades are included in GPA calculations.) I have elected to use the plus/minus to indicate that a student's level of performance is slightly higher or lower than that of the letter grade alone. Please see the UAF Catalog for how these letter grades are utilized for calculating a stu- dent's GPA. A+: 98-100% A : 92-97% A-: 90-91% B+: 88-89% B : 82-87% B-: 80-81% C+: 78-79% C: 72-77% C-: 70-71% D+: 68-69% D: 62-67% D-: 59-61% F: 59% Independent Learning Page vii
  8. 8. GRADING SYSTEM: YEAR-BASED COURSE Since the student has the option of extending an extra six months, no temporary INCOMPLETE grades will be issued. Any student who has not completed one-half of the course (including exams) at the end of the one year period, will receive a grade determined on a case by case basis. If at least 50% of the coursework has been handed in, and the student submits the extension request and appropri- ate fee, an extension of six months will be granted. At the end of the six months, if the course has not been completed and the student has not requested a second extension, a grade will be determined on a case by case basis. If at least 75% of the coursework has been handed in, and the student submits a second extension request and appropriate fee, an additional three months will be granted. At the end of the three months, if the course still is not complete, a grade will be determined on a case by case basis. Please contact the instructor for more information. GRADING SYSTEM: SEMESTER-BASED COURSE If less than the entire course (including exams) has been submitted by the work completion date for that semester, then a grade will be determined on a case by case basis. No temporary INCOMPLETE grades will be issued unless 1) one-half of the course has been submitted with a passing average by the end of the work completion date, and 2) student has had an emergency situation arise that has prevented the student from finishing the course. If a temporary INCOMPLETE is given, the instructor reserves the right to decide how long the student will be given to complete the course (up to one year). This will be decided on an individual basis. If the course has not been completed by the date specified by the instructor, a grade will be determined on a case by case basis. Please contact the instructor for more information. PLANNING SCHEDULE First, enter today’s date at the top of the schedule. Second, if you have a certain deadline you must meet for course completion, put it at the bottom of the schedule. Otherwise, set a planned date for completion. If you are a graduating senior, check with your counselor to find out the date all grades are due. Third, opposite “final exam” enter a date at least two weeks before your planned date of course completion. If you are a graduating senior, plan to take the final exam at least one month before graduation. Fourth, enter planned dates for submitting each written assignment. Try to pace yourself. Unless otherwise specified by your instructor, up to two lessons per week should be submitted. (You might want to enter your plan in pencil, so it can be revised if necessary.) If you are a graduating senior or have any other personal deadlines, it is imperative that you write to your instruc- tor on your first lesson and inform him/her of your needs. Although the staff and faculty will do everything possible to help you, a lack of planning on your part does not constitute an emergency for the staff and faculty! Please plan ahead! YEAR-LONG: Remember, we assume you will take up to a year to finish this course. At a bare minimum, it should take three months to complete a course. Instructor permission (in writing) must be obtained to finish in an acceler- ated time frame. SEMESTER-BASED: If you are a semester-based student, follow the semester time requirements provided with your book purchase. Remember lessons cannot be accepted if turned in all (or several) at once. Page viii Personal Finance and Investing
  9. 9. START I began this course on _________________________ . Date to Actual Date Submit Date sent Received Grade Lesson 1 _________ _________ _________ _________ Lesson 2 _________ _________ _________ _________ Lesson 3 _________ _________ _________ _________ Lesson 4 _________ _________ _________ _________ Lesson 5 _________ _________ _________ _________ Exam 1 _________ _________ _________ _________ Lesson 6 _________ _________ _________ _________ Lesson 7 _________ _________ _________ _________ Lesson 8 _________ _________ _________ _________ Lesson 9 _________ _________ _________ _________ Lesson 10 _________ _________ _________ _________ Project _________ _________ _________ _________ Final Exam _________ _________ _________ _________ DEADLINE Grade must be received by _________________ . Independent Learning Page ix

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