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1、DL15 35: Financial Services: Group Award Graded Unit 2 (HND) 1 Introduction This pack must be used in conjunction with a copy of the Graded Unit specification which details the standard of performance expected of the candidate. A copy of the Graded Unit specification can be obtained from SQA. This p
2、ack supplements the instructions for designing the assessment task and assessing candidates of the Graded Unit specification. It aims to provide an example of assessment that is valid, reliable and practicable. The assessment task(s) detailed in this pack corresponds to the instructions for designin
3、g the assessment task outlined in the Graded Unit specification. The example provided is intended for guidance only. It may be used in a variety of ways including, for example: to exemplify the standard of performance expected of candidates achieving the Graded Unit, ie as a benchmark to help you de
4、velop your own assessment for the Graded Unit to give you new ideas as a staff development tool Please note: The subject material that is being delivered as part of this course is of a specialised nature. It is recommended that centres ensure that suitably knowledgeable and qualified staff be employ
5、ed in delivering the programme. If the material is to be delivered on an open or distance learning basis, it is recommended that suitably knowledgeable and qualified staff be employed to develop the course support materials. It is important that you make sure that the assessment exemplar is used in
6、a context appropriate to the delivery of the Graded Unit and to the Group Award of which it forms a part. It is also very important that you note that using this assessment exemplar does not automatically guarantee successful external moderation. It is still your responsibility to make sure that all
7、 the appropriate internal quality assurance procedures are satisfactorily completed. For example, a valid, effective and approved internal moderation system must be in use at your centre. Recommended reading Before using this material you might find it useful to look at some of our other publication
8、s, in particular: Guide to Assessment and Quality Assurance for Colleges of Further Education (AA0841/3, September 2003) Guidance on Special Assessment Arrangements (AA0645/4, September 2003) Quality Assurance Principles, Elements and Criteria (A0798, December 1998) Details of these and other SQA pu
9、blications are available in SQA Information, our publications catalogue which is updated and printed twice a year (telephone: 0845 279 1000). SQA Informationlists all published HN assessment exemplars. You could also visit our website at www.sqa.org.uk . A free copy of this pack is available to all
10、SQA approved centres at the time of initial distribution. Additional copies can be obtained, price 20.00 from SQA s Customer Contact Centre, 24 Douglas Street, Glasgow, G2 7NQ (telephone: 0845 279 1000 or fax: 0141-242 2123). Other related Units This Graded Unit has been validated as part of the HND
11、 Financial Services at level 8 within the Scottish Credit and Qualifications Framework (SCQF) 1. Centres are required to develop the assessment instrument in accordance with the validated specification. It is recommended that the candidate should have completed, or be in the process of completing, t
12、he following Units relating to these specific aims prior to undertaking this Graded Unit: DE5P 35 SCQF level 8 Investment DE5W 35 SCQF level 8 Pension Provision DE5R 35 SCQF level 8 Principles of Insurance DE5V 35 SCQF level 8 Financial Services Regulatory Framework Core Skills Where Core Skills hav
13、e been embedded in a Graded Unit specification and an Assessor wishes to use an alternative method of assessment, she/he must ensure that the assessment generates the Evidence Requirements specified in the Graded Unit specification. It is recommended that the centre seek prior moderation for the alt
14、ernative method to ensure that the Core Skill is still covered. The Graded Unit specification will detail the Core Skills covered within the Graded Unit. There are no Core Skills embedded in this Graded Unit. 1 The SCQF provides the national common framework for describing all relevant programmes of
15、 learning qualifications in Scotland. The level a qualification is assigned within the framework is an indication of how hard it is to achieve. There are 12 levels, from level 1 for Access 1 through to level 12 for doctorates. For further information on the level and credit rated see the Unit specif
16、ication. 2 How to generate evidence Introduction The Scottish Qualifications Authoritys system of assessment measures the evidence of a candidates attainment of knowledge, understanding and skills against defined criteria. The assessment process must allow for evidence of each candidates performance
17、 to be generated and collected. This evidence must then be judged against the standards set out in the Graded Unit specification. To achieve the Graded Unit the candidate must successfully meet the standards and there must be evidence to prove this. The Graded Unit specification defines the criteria
18、 you need to use to judge whether or not the candidate has met the standards. All Graded Units have the following: Instructions for designing the task These tell you what the candidate actually has to do. Recommended prior knowledge and/or skills This section details the recommended knowledge and sk
19、ills which the candidate should have completed or be in the process of completing prior to undertaking Graded Unit. Assessment guidelines This section should give guidance on how best to conduct the assessment to generate the evidence required. It is important to realise that it is up to the Assesso
20、r to judge when and if the candidate has satisfactorily met the standards. This decision should be based on the quality and correct quantity of evidence collected, set against the standards in the Graded Unit. The assessment instrument in this pack should not create any unnecessary barriers to achie
21、vement for open/distance learning delivery or candidates with special needs. However, you may need to adapt it so that you can assess candidates with special needs or candidates who are undertaking the Graded Unit on an open/distance learning basis. Obviously, whilst taking into account the needs of
22、 the candidate concerned, the methods of assessment you choose must still be valid, reliable and practicable. If you have any questions or problems, or if you are in any doubt as to whether or not the alternative assessment you have chosen is still valid, please contact the Customer Contact Centre o
23、n telephone: 0845 279 1000. External Moderation Guidance on Best Practice In order to increase the likelihood of successful external moderation it is strongly recommended that: Centres have their question papers with marking instructions prior moderated by SQA. Staff are advised to put the materials
24、 through an internal moderation process before submission to SQA. Staff are advised to submit these materials to SQA not less than eight weeks before their intended use to Assessment Moderation Unit, Scottish Qualifications Authority, Hanover House, 24 Douglas Street, Glasgow G2 7NQ. Question Papers
25、 are assigned a unique identifier (eg Lauder 5460352 May 2002) and this should be recorded against each candidates name. This should help to avoid candidates receiving the same question paper for re-assessment. Centres produce a coverage grid for each question paper to ensure that the paper is corre
26、ctly balanced and in accordance with the Graded Unit. Questions and marks should be linked directly to the relevant Unit and Outcome in the Arrangements. Marking instructions are sufficiently detailed to indicate clearly how many marks are to be awarded for each response. Where appropriate, or any o
27、ther suitable response should be included if there is a wide range of possible answers. This will avoid penalising candidates for omissions in the marking instructions. If examples are to be provided by a candidate then examples should also be provided in the marking scheme. Half marks should not be
28、 used since, cumulatively, they inflate candidates scores artificially. For security purposes, question papers are counted out and counted back after the examination. They should then be shredded and only the master copy retained securely by centres. Markers write 0, 1, 2, 3, etc, on scripts to show
29、 where marks have (or have not) been awarded and these should relate directly to the marking instructions. Global totals for questions are not useful unless it is clear how they have been derived. Centres produce a summary list of candidates showing: i)centre name and number ii)candidate s name with
30、 unique identifier of question paper iii)candidate s date of birth iv)SQA candidate number v)marks for both sections and total mark, vi)grade achieved This should be enclosed with the scripts, question papers and marking instructions submitted for moderation. The question paper is drafted in accorda
31、nce with these and any other guidance notes on writing an examination paper supplied by SQA . NB:For security reasons, please note that an Assessment Exemplar for this Unit should not be used as an instrument of assessment. However, individual questions may be lifted (and amended slightly, where pos
32、sible) and used to supplement centres own questions in their question papers. Please provide clear instructionsto candidates, amending the instructions to candidates on the question paper as appropriate. Ensure that candidates are informed how to change their answers, particularly to the multiple ch
33、oice questions. NB: Answers may need to be changed more than once. Every question paper should indicate the originating centre s name and number, and date of first issue (eg Lauder 5460352, May 2002). 3 Assessment Exemplar Assessment tasks The table below summarises how the assessment exemplar task
34、is to be marked and also indicates the evidence which should be retained for external moderation. Suggested task Suggested evidence to be retained Written examination The examination will be marked out of 100. Assessors will aggregate the marks achieved by the candidate to arrive at an overall mark
35、for the examination. Assessors will then assign a grade to the candidate for this Group Award Graded Unit based on the following grade boundaries: A = 70% 100% B = 60% 69% C = 50% 59% All Conditions of assessment The design rules for HND programmes state that all Group Award Graded Unit Assessments
36、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 Specif
37、ication. The intention of this Unit is to assess the knowledge and skills of the candidate in four of the core Units at level 8: Investment Pension Provision Principles of Insurance Financial Services Regulatory Framework It is essential that candidates must have completed, or be in the process of c
38、ompleting, all of these core Units. The assessment will take place at the end of the academic year. The candidate must successfully complete all elements of the assessment to the required standards. A new examination covering significantly different areas of the knowledge and skills should be used f
39、or each reassessment. It is recommended that the examination should not assess knowledge and skills that have already been assessed earlier in the core Unit assessment. The examination will be based upon a case study that will be provided to candidates at least 10 days before the date of the examina
40、tion. Questions will be based upon the given facts in the case study. The examination, which lasts three hours, is to be carried out under open-book conditions in controlled and invigilated conditions and candidates may answer questions with the aid of reference and/or source materials. The examinat
41、ion should be des igned to assess the candidate s critical knowledge and understanding of the topics relating to the specific aims which this Group Award Graded Unit is designed to cover. The question and corresponding marks should be designed in accordance with the ranges indicated in the table tha
42、t follows. However, the overall total mark for the examination is 100. Topic Level of knowledge/ understanding Weighting/ mark allocation Investment Analysis, calculation, recalling, explaining 30 40% (Could involve: calculations relating to gilts yields or purchase consideration calculations relati
43、ng to rights or bonus issues, or investor ratios stock market operations stock market participants methods of issue classes of share capital shareholder information managed funds) Principles of Insurance Analysis, calculation, recalling, explaining 20 30% (Could involve: defining/explaining type, sc
44、ope, function or purpose of insurance identifying or explaining products matching protection needs to relevant insurance or assurance products explaining elements within a life policy explaining premiums) Topic Level of knowledge/ understanding Weighting/ mark allocation Pension Provision Analysis,
45、calculation, recalling, explaining 20 30% (Could involve: explaining elements of the state pension provision calculating Inland Revenue benefits and limits explaining the operation of employer run occupational schemes explaining the operations of additional contributions explaining the operations of
46、 non standard pension schemes) Financial Services Legal Framework Recalling, explaining 10 20% (Could involve: role of FSA powers, functions, responsibilities of FSA market abuse risk factors categories of investor authorisation routes regulated and exempt activities documents used to obtain evidenc
47、e ombudsman scheme compensation) The examination will be marked out of 100. Assessors will aggregate the marks achieved by the candidate for each stage to arrive at an overall mark for the examination. Assessors will then assign a grade to the candidate for this Group Award Graded Unit based on the
48、following grade boundaries: A = 70% 100% B = 60% 69% C = 50% 59% Grade A Grade C Is a coherent piece of work which: has sufficient evidence for the four phases of the examination and is produced to a high standard demonstrates a clear and full understanding of the material, and is able to provide ac
49、curate calculations to numerical questions is highly focused and relevant to the tasks associated with the examination is clear and well structured throughout and language used is of a high standard in terms of level, accuracy and technical content effectively consolidates and integrates required knowledge and skills Is a co-ordinated piece of work which: has sufficient evidence of the four phases of the project and is produced to an adequate standard demonstrates an acceptable interpretation of the material, and is able to demonstrate competence in d