28104 student guidelines - nzqa€¦ · web view28104 version 2 page 9 of 9 student guidelines...

NZQA Assessment Support Material

Unit standard 28104

Title Analyse the impact(s) of external factors on personal finances

Level 3 Credits 3 Version 2

Student guidelines

You will be assessed on how well you:

Explain the impact(s) of three different external factors (one local, one national and one global)

on personal finances and financial decision making.

Explain for one of the external factors the impacts in the short and long term on personal

finances and financial decision making.

Explain for the same external factor how financial decisions can be used to manage those

impacts on personal finances.

A W A R D O F G R A D E S

For award with Achieved, you must: analyse the impact(s) of external

factors (one local, one national and one global) on personal finances and

financial decision making.

For award with Merit, you must for one of the external factors provide an

explanation of impacts in the short and long term on personal finances

and financial decision making.

For award with Excellence, you must for the same external factor used

at Merit provide an explanation of how financial decisions can be used to

manage those impacts on personal finances.

–

28104 version 2 of 9Student guidelines September 2016 New Zealand Qualifications Authority 2023

C O N D I T I O N S O F A S S E S S M E N T

This is an open book assessment. You may use any information to help

you complete the task(s). Answers must be in your own words.

Your assessor will provide you with information regarding timeframes for

this assessment.

Assessment activity

This assessment activity has (1) task made up of (5) questions.

Questions (1) – (3) require you to explain the impact(s) of the external factors you have chosen for each of the three categories.

Question (4) is where you will explain the impacts in the short and long term on personal finances and decision making for one of the external factors

Question (5) asks you to explain how financial decisions can manage those impacts which were discussed at Question (4).


Factors

Some examples of external factors that can impact on personal finances are given below.

You must choose one different factor from each category to complete the tables on the following pages.

C a t e g o r y 1 : G l o b a l

International events (such as war or economic crises) Exchange rates Interest rates Inflation Economic growth Climate change or other environmental issues Political change, such as a change of government in world-leading countries Natural disasters Man-made disasters

C a t e g o r y 2 : N a t i o n a l

Interest rates Inflation Political change, such as a change of government Legislation, such as a change in GST or tax rates Societal or demographic trends, such as the “baby boomers” reaching retirement Natural disaster Man-made disaster Technological developments, such as internet banking Transport development, such as cheaper or faster transport systems

C a t e g o r y 3 : L o c a l

Legislation Natural disaster Man-made disaster Transport development, such as cheaper or faster transport systems


Task

1. For the selected global factor:

Explain the impact(s) this factor can have

on personal finances

Explain the impact(s) this factor can have

on financial decision making.

G l o b a l f a c t o r

I m p a c t ( s ) o n p e r s o n a l f i n a n c e s

I m p a c t ( s ) o n f i n a n c i a l d e c i s i o n m a k i n g


Your explanation might consider:- Ability to manage income- Spending and transacting activities- The need to take on credit and go into debt- Setting goals and budgeting- Saving and investing- The ability to protect assets and wealth,

including risk management strategies

2. For the selected national factor: Explain the impact(s) of this factor on

personal finances

Explain the impact(s) of this factor on


N a t i o n a l f a c t o r




Your explanation might consider:- Ability to manage income- Spending and transacting activities- The need to take on credit and go into

debt- Setting goals and budgeting- Saving and investing- The ability to protect assets and wealth,


3. For the selected local factor:


personal finances



L o c a l f a c t o r



Your explanation might consider:- Ability to manage income- Spending and transacting activities- The need to take on credit and go into debt- Setting gaols and budgeting- Saving and investing- The ability to protect assets and wealth,



4 For one of the external factors used above, explain the impacts in the short and long term on personal finances and financial decision making.

F a c t o r

S h o r t t e r m i m p a c t s


L o n g t e r m i m p a c t s

5. For the same external factor used at question 4 explain how financial decisions can be used to manage those impacts on personal finances.


28104 student guidelines - nzqa€¦ · web view28104 version 2 page 9 of 9 student guidelines...

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