Assessment Exemplar

Assessment tasks

The table below summarises how the assessment exemplar task is to be marked and also indicates the evidence which should be retained for external moderation.

|Suggested task |Suggested evidence to be retained |
| | |
|Project |All candidate evidence to be retained |
|This project-based Graded Unit is in the form of a case | |
|study and will be marked out of 100. Assessors will |All checklists to be completed and retained |
|aggregate the marks achieved by the candidate for each | |
|stage to arrive at an overall mark for the project. | |
|Assessors will then assign a grade to the candidate for | |
|this Graded Unit assessment based on the following grade | |
|boundaries: | |
| | |
|A = 70% – 100% | |
|B = 60% – 69% | |
|C = 50% – 59% | |
|Fail = less than 50% | |
| | |
|Note: If a candidate fails the Planning Stage with a score | |
|of less than 10 marks they will be required to re-sit this | |
|stage before going on to subsequent stages. In this event,| |
|the candidate can only achieve a maximum of 10 marks to be | |
|taken forward to the final Graded Unit mark. | |

Conditions of assessment

Candidates must be given a date for completion of the practical assignment. The instructions for the assessment task should be distributed to allow the candidate sufficient time to assimilate the details and carry out the assessment task. During the time between the distribution of the assessment task instructions and the completion date, Assessors may answer questions, provide clarification, guidance and reasonable assistance.

The assessment task should be marked as soon as possible after the completion date. This is especially true of the planning stage.

The final grading given should reflect the quality of the candidate’s evidence at the time of the completion date.

Re-assessment of this Graded Unit should be based on a significantly different assessment task.

At this level, candidates should work independently. It is up to centres to take necessary steps to ensure authenticity of the project and its contents. This could include questioning candidates at various stages on their knowledge and understanding of the project, the use of signatures, acknowledging and referencing sources etc. Further guidelines are contained in SQA publication ‘Guide to Assessment and Quality Assurance for Colleges of Further Education’ (AA0841/3, September 2003).

Instructions for designing the assessment task and assessing candidates

The assessment task is a project. It must be a complex task which involves:

□ variables which are complex or unfamiliar □ relationships which need to be clarified □ a context which may be familiar or unfamiliar to the candidate

The assessment task must require the candidate to:

□ analyse the task and decide on a course of action for undertaking the project □ plan and organise work and carry it through to completion □ reflect on what has been done and draw conclusions for the future □ produce evidence of meeting the aims which this Graded Unit has been designed to cover

The project consists of three stages:

□ planning □ developing □ evaluating

It should be emphasised to candidates that all three stages must be completed satisfactorily to achieve a pass. If candidates are required to undertake a re-assessment, no more than a Grade C can be awarded to the assessment.

The following information specifies the minimum evidence required to pass each stage and the maximum marks which each stage carries.

Broad level related Grade Descriptions for a project

|Grade A (70% – 100%) |Grade B (60% – 69%) |Grade C (50% – 59%) |
| | | |
|Is a seamless, coherent piece of work |Is a well co-ordinated piece of work |Is a co-ordinated piece of work which: |
|which: |which: | |
|has sufficient evidence for the three |has sufficient evidence for the three |has sufficient evidence of the three |
|essential phases of the project, is |essential phases of the project, is |essential phases of the project, is |
|produced to a high standard, and is |produced to a good standard and is |produced to an adequate standard |
|quite clearly inter-related |inter-related | |
|demonstrates an accurate and insightful |demonstrates an accurate interpretation |demonstrates an acceptable |
|interpretation of the project brief |of the project brief |interpretation of the project brief |
|is highly focused and relevant to the |is well focused and relevant to the |is focused and relevant to the tasks |
|tasks associated with the project brief |tasks associated with the project brief |associated with the project brief |
|is clear and well structured throughout |is clear and well structured throughout |is satisfactorily structured and |
|and language used is of a high standard |and language used is of a good standard |language used is adequate in terms of |
|in terms of level, accuracy and |in terms of level, accuracy and |level, accuracy and technical content |
|technical content |technical content | |
|effectively consolidates and integrates |satisfactorily consolidates and |consolidates and integrates knowledge |
|required knowledge, and skills |integrate knowledge and skills |and skills but this may lack some |
| | |continuity and consistency |

|Project Stage |Minimum Evidence Requirements |Suggested Mark |
| | |Allocation |
|Stage 1 — Planning |identification of the resources required to carry out the project, ie: | 5 |
| |sources of information | |
| |procedures to be followed | |
| |selection, justification and development of a strategy for managing the project, taking | |
| |into account time management |5 |
| |how the candidate will gather appropriate information, eg: | |
| |use of internet |5 |
| |visits to providers | |
| |mailshot | |
| |brochures | |
|Stage 2 — |analysis of a given case study including: | |
|Developing |identifying the key factors from the given scenario |5 |
| |identifying the financial needs of the client |5 |
| |suggesting how the needs of a client can be resolved |5 |
| |development of an approach to dealing with the problems posed by the project, ie: | |
| |selecting a range of providers | |
| |selecting relevant products and services for the given project |5 |
| |identifying the criteria on which to base the decisions |10 |
| |justification for the selection of the products and services used, eg: | |
| |benefit-needs analysis |5 |
| |comparison with other providers, products and services | |
| |tax implications | |
| |explanation of why each product or service was selected and how it will satisfy the | |
| |perceived needs |10 |
| | |10 |
| | | |
| | |5 |
| | |10 |
|Stage 3 — |modifying approaches made during the course of the activity | 5 |
|Evaluating |evaluating the effectiveness of the problem solving/decision making process |5 |
| |the report should also include: | |
| |a contents page and list of acknowledgements of sources and references | |
| | | |
| | |5 |

| | |
|Assessment task | |

In order to comply with the design rules, candidates must produce a report for each of the three distinct sections:

□ evidence of planning □ evidence of developing □ evidence of evaluating

The balance between these sections is indicated in the table:

| |Graded Unit |
|Planning |15% |
|Developing |70% |
|Evaluating |15% |

These distinctions are based on the following considerations:

Planning: The majority of the planning effort is likely to take place early on in the overall project, with only the planning directly related to implementation taking place at the implementation stage.

Developing: The development effort is likely to be ongoing throughout the project. It is possible that some of the development stage will be discussed during the evaluating stage.

Evaluating: After the implementation stage it will be possible to evaluate both the implementation itself and the tie-up between design and implementation.

It is possible that the documentation could be presented as a single report.

The design rules for HND programmes state that all Group Award Year 1 Graded Unit assessments must have a credit value of one credit.

This group award Graded Unit assessment has been designed to provide evidence that the candidate has achieved a number of the principal aims of the HND Financial Services programme. The aims can be found in the Validation Document and in the Graded Unit Specification.

The intention is to allow candidates to develop the range of knowledge and skills introduced at level 7. As a consequence, it is recommended that candidates should have completed, or be in the process of completing three core Units that are set at level 7, Introduction to Financial Services, Personal Financial Services and Customer Care.

It is intended that this Group Award Graded Unit will assess a candidate’s knowledge and skills by means of a stand alone project, based on a given case study. This investigative project requires the candidate to use the information provided in the case study and to research a range of providers, finally providing a written report recommending a suitable range of products and services, giving reasons for the recommendations.

It is recommended that the project be completed during the second half of the academic year, finishing at the end of April, thereby allowing time for the assessment to be marked. It is recognised that some centres may wish to deliver the project during a different period. The timing and management of the assessment is entirely at the discretion of the delivering centre, although it is recommended that the minimum research period be not more than four calendar months.

Project — Case Study

You are an Investment Services Manager with the Cadogan Bank plc. In this role you assist busy, well-to-do clients by providing solutions to their savings, borrowing and personal insurance needs.

The manager of the bank’s Western Branch has referred Alexander Flynn and his wife Janet to you.

Alexander, who is 48 years old, is the Company Director and Chief Executive of a software company, Graphic Design Ltd, that he set up seven years ago with his best friend, James Emerson.

The company has been extremely successful, with a turnover of over £15m last year and profits of £4m. Alexander draws a salary of £420,000 per annum from the business.

Janet is aged 44 and works as Alexander’s personal assistant. As his assistant she is paid a salary of £55,000 per annum.

The couple has three children, Adam, Sheila and Carina, aged 14, 10 and 3 respectively. The two older children attend a local private school, which charges £3,000 per child per annum in school fees. The couple intends to send Carina to the same school as soon as she is old enough.

You are aware that the Flynn’s live in a large six-bedroom bungalow in an expensive part of town, which is conservatively estimated at a value of £1.25m. They have lived there for over six years and have an outstanding mortgage of £450,000 on the property.

The couple has recently decided to build an extension to their home at a cost of £300,000.

The mortgage was taken out over 20 years on an endowment basis but Alexander has recently received a letter from the company stating the projected returns on the policy are likely to result in a substantial shortfall in the value compared to the outstanding mortgage.

Before setting up the company Alexander had been out of work for two years following redundancy. He set up the company with the funds from his redundancy payment, and a loan from the bank, which was secured against his previous family home. The rapid early success of the company allowed him to purchase the new house.

As a consequence of his previous redundancy, and due to the fact that he has never felt secure over the long-term future of the company, he has always been ultra-cautious with his finances.

Due to his busy schedule he has been somewhat lax in looking after his financial affairs, and although he has not taken any risks, he has not taken the time to ensure that he is receiving the best returns on his savings, or the best protection for his family and income.

You are now asked to consider the above information and discuss:

a) suitable savings products that provide: □ tax efficiency □ best returns in interest and □ potential capital growth without risk b) protection for Alexander and Janet against: □ income loss □ health problems □ death □ property damage c) alternative methods of borrowing on their property

In order to complete the task effectively, you are required to carry out the following tasks.

1. Prepare an Action Plan that identifies: □ a strategy for carrying out the project □ the resources that you will be using to carry out the project □ the documentation that you will obtain, and refer to, during your investigation □ a relevant timescale for the investigation

The Action Plan should be prepared during the first three weeks of the investigation and should be in written format. It may be appropriate for centres to discuss the proposed action plan with the candidate and, where necessary, to suggest suitable changes with the candidate.

Minimum Written Evidence 500 words — mark allocation 15.

You must achieve all of the minimum evidence specified above in order to pass the Planning stage.

2. Prepare a Case Study Report that analyses the case study by: □ identifying the key factors from the case study that are to be developed □ identifying the key financial needs of the client □ identifying criteria on which to base the decisions □ suggesting how the needs of the client can be resolved □ selecting a range of providers □ selecting relevant products and services for the given project □ justifying the selection by way of: (a) benefit-needs analysis (b) comparison with other providers, products and services (c) tax benefits

Minimum Written Evidence 1,000 words — mark allocation 70. The candidate must achieve all of the minimum evidence specified above in order to pass the Developing stage.

3. Prepare an Evaluation Report that: □ discusses the methods that were used during the research period □ compares the actual process with the original proposals set out in the action plan □ considers any variations and why these arose □ discusses how the candidate handles problems that arise during the research □ evaluates the effectiveness of the decision-making process

The Case Study and Evaluation Reports should be in written format and handed in at the end of the research period. It is acceptable for the reports to be completed in the one document but the elements of each report must be clearly distinguishable. Minimum Written Evidence 500 words — mark allocation 15.

The candidate must achieve all of the minimum evidence specified above in order to pass the Evaluating stage.

4 Report skeleton

The Project Report could take the following format:

1. Planning — Action Plan

1. Likely resources to be used

2. Strategy for carrying out report

3. How the project will be managed

4. Timescales for project

5. Sources of information

2. Developing — Case Study Report

2.1. Key factors in case study

2.2 Likely financial needs of the clients

2.2.1. Savings 2.2.2. Mortgage needs 2.2.3 Protection needs

2.3 Suggestions for improvements

2.4 Likely providers

2.5 Relevant products and services

2.6 Benefit-needs analysis

2.7 Comparison among providers

2.8 Effect on tax position

2.9 Justification for selections

3. Evaluation

3.1 Criteria for Evaluation

3.2 Changes made during project compared to original action plan

3.3 Effectiveness of process

Conclusions