PVS (Prashant V Shah)

– Authorized Education Provider of FPSB Ltd. (CFP Coaching and Study Material)

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Archive for September, 2012

Book for Insurance Planning – CFP

Posted by Prashant Shah on September 21, 2012

A fantastic book on Insurance written by CII UK. Finely Indianised and a must read for those who are learning Insurance as a subject for strong foundation. Equally useful for CFP exam. The only thing which is not covered in this book are the numerical on the subject which will be published soon on the site.

Click to download:IC-33 text book 2011

Note: This book has been provided to help students to understand insurance and for awareness of people. I don’t claim any ownership of the book. It is a copyrighted material of CII which I downloaded from the website.

The Chartered Insurance Institute (CII) is the premier professional organisation for those working in the insurance and financial services industry. It is dedicated to promoting higher standards of competence and integrity through the provision of relevant qualifications for employees at all levels and across all sectors, and has been at the forefront in setting professional standards for the insurance industry for over a century.

Posted in Insurance Planning | 26 Comments »

Important announcement for modifications of calculations in Retirement Planning – CFP

Posted by Prashant Shah on September 21, 2012

It seems that the difference between the exam of Retirement Planning and Advanced Financial Planning is getting narrowed. Below are the changes to be considered for RPEB exam now onwards. And all the questions which I have solved on this site are to be modified based on the following guidelines:

1 Use of BGN   mode under the following Scenario.
1.1 Finding   out present value of the cash flow series (i.e, Annuity)

  1. In all questions like calculation of retirement corpus, accumulation of funding for retirement corpus.
  2. In case of insurance planning, where we have to find out Insurance cover needed using Human Life Value, Need based approach.
  3. In all numerical in like e.g.– funding for education planning, marriage planning etc…..
1.2 Finding   out regular investment

  1. In all case where we have to find out regular investment (i.e. Pmt) for achieving the desired future value.
  2. For that matter any numerical in any other case, education planning etc……

Note: The above mentioned scenarios will be applicable even in the case, where question is silent on which mode to use.

2 Use of Effective   rate of return for Monthly, quarterly, half yearly mode.

It is considered that the given rate of return   (Annually) in the question is an effective rate of annual return so   accordingly all calculation of monthly, quarterly & half yearly mode to   be done based on effective annual rate basis. We will convert the effective   rate of return into Nominal rate of Return.

3 Loan related calculation:

In this case we take the end mode for EMI calculation. We use the nominal rate of return   divided by 12 to arrive at the rate for calculation. This is because loan   rates are conveyed in nominal form.

Posted in Retirement Planning | 4 Comments »