| Country : | Australia |
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Assignment Task:
Task:
Short Answer Question Ch4 Q5
While you are engaged with the application and verification process for Alex and Christopher, Sally Smith begins to tell your clients more about the history of the land they wish to purchase. Five years ago, when Sally’s father Frank decided to retire, he sub-divided his property and sold the vast majority of it to his old primary school friend and neighbour, Jack Jones. Shortly thereafter, Jack’s son (Jim) sought to change the pastoral lease to a perpetual pastoral lease. At this point in time, Joe Atkinson commissioned a Connection Report from a renowned historian Professor Harold Mews and an expert anthropologist Dr Thackery Blume. Both experts supported Joe Atkinson’s interest in the lands and waters running through the properties owned by the Smith and Jones families.
After outlining the recent history of the property, Sally shows Alex and Christopher a copy of the Connection Report which details the cultural significance of the stream and the land abounding its banks. After a very short discussion, both the vendor and prospective purchasers agree that they are willing to surrender the land. Without delay, Sally calls Joe Atkinson to include him in these new developments. Joe advises that native title rights can be awarded through a ‘Consent determination’ by a court whenever there is agreement between the parties about native title rights and interests in relation to lands and waters. Joe also suggests that they enter into an Indigenous Land Use Agreement (ILUA) for the benefit of all concerned.
Activities:
(a) Using specialist software (or a self-generated spreadsheet), determine whether your client’s have the capacity to repay the loan. Please include the document with your answer (note from markers: any form of budget planner or spreadsheet is acceptable).
(b) Identify and briefly explain 2 materials/documents, as well as, 2 personnel needed to implement your client’s loan.
(c) Explain how you would effectively deal with the personnel listed in part (b)
Short Answer Question ch5 Q5
Two new clients have made an appointment with you upon referral. The clients you are about to meet are Richard and Pamela Lawry. They are Alex Kopf’s friends.
Facts obtained during the initial interview:
- Richard is 33 and Pamela is 21.
- Richard and Pamela run a business called Insight Studio which sells commercial eyewear such as binoculars and underwater goggles.
- The business has been through a growth phase and is in need of funds to take their business to the next level.
- Pamela does the books for the business and is concerned at the growing level of account receivables in the business especially as she knows some of them have not paid for some time and she is wondering whether more drastic action is needed.
- Richard has seen a tender advertised for deep sea goggles for the Navy complete with Government Funding and whilst he is interested he realizes that neither himself, Pamela or anyone in the business has the requisite skill sets to successfully apply for the funds.
Activities:
(a) When you meet Richard and Pamela they are looking very apprehensive. How would you build rapport with the couple?
B) Analyse Richard and Pamela’s situation to determine opportunities and constraints. Consider possible loan structures or options. Analyse, model, prioritise and measure fees and charges against risk. What finance recommendations, including the financing options of new equipment, would you suggest for their business issues? Which options did you reject and why did you consider them inappropriate? Note: Include all areas of finance for equipment, Government grant and debtors
C) Richard has decided he wants a luxury car and yet Pamela believes he should stay with his older car to save money. She defends her need for a better car as she is not confident if the car were to break down and she knows Richard could cope with such a situation. How would you negotiate a solution for the couple?
D) Assume Richard insists upon the luxury car and Pamela gives in. Conduct research into loan structures or options (these may be new or non-standard, if required). Consider Richard and Pamela’s financial issues in terms of their implications on an economic, legal, taxation, and insurance level. Also assess the nature of the securities to be taken. Which recommendations would you make and what documentation do you feel is necessary for the process to be successful?
E) Using your analysis from either question (b) or (d), check your preliminary options to ensure compliance with relevant laws and regulatory/ethical guidelines. What fees will you charge if your clients run with your recommended option? How will you obtain and process these fees according to organisational and legislative requirements?
Short Answer Question CH2 Q5
Harry Hausmann approaches NATWHICHPAC BANK to arrange finance. Harry explains to you that he wants to expand his small pyrotechnics business to a larger-scale operation. He has just successfully negotiated a long- term contract with the local ‘WACKER SPEEDWAY’ to exclusively supply and create the fireworks displays for all of their special events, which are held on three days and evenings of each fortnight.
Harry has an unencumbered property that he wishes to use as collateral for a loan. The property is a large modern ultimate beachfront home on a 400m square block at Kirra Beach on the Gold Coast, abutting the beachfront sands.
i. Compare exposure levels with industry and statutory obligations, identify any unacceptable residual risks, and then outline the forms of risk mitigation that Harry or the financier could adopt.
b) Identify some of the stakeholders that might be relevant to the process of potential risk control and/or mitigation, and which laws and/or organizational guidelines protect them.
c) Suggest what interactions with the stakeholders might be considered by Harry or the financier and how these would impact on your implementation of a treatment plan.
d) Assume you are acting as an independent finance/mortgage broker rather than as an employee of NATWHICHPAC.
i. Identify several ways your role would differ for this finance application.
ii. Consider the auditing risks in your area of operation and the kinds of guidelines that would apply, and then discuss how you would implement relevant control measures to address the risks and meet the guidelines.
iii. Take one of the abovementioned control measures and describe how you would monitor and review it against specific measures of success.
iv. Name examples of low, moderate and high risks that present in this case study.
v. Discuss three key auditing requirements that relate to risk management.
e) Compare and contrast the risks that exist in this case study against the risks that relate to investing in property.
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