Introduction
I have the support of students through their qualifying DIPF for almost two years and this article is all about best practices, tips and strategies that will help you to share a really good sign in this difficult exam with others.
I want to share with you some tips, I worked on the review of reports, students who over the years and I share with you a really good structure, you can prepare ahead.
Firstwhat the control is everything?
How does the test work?
This is a 3-hour written, soon came to consider as you digest a case study in advance and then need a carefully written report to your customer convenience.
The case study is provided in advance, about two weeks. You have time to prepare, check the areas of weakness, along with some numbers and write the report in full in advance. And you should too, why not?that's why I will send it in advance.
The day of the exam, you will get a few Wobblies, some 'minor changes to the review work to change your relationship, but it could have done your preparation well enough, these last minute changes will not cause too many problems .
Picture of clients
The case study is as real as possible, there will be some anomalies and these must be controlled. However, it should be a real treatPerson and that person issuing the report, not the mayor, even if you want to impress him or his victory at Brands. Attention also much more impressive as it could conflict with the inspector could write one for more than they do the technical aspects.
Plain text is so important to keep in mind to understand the client and write to them. Image is sitting with a cup of tea with her feet, trying to read the report, and head or tail of it, because they enjoyof beer.
The identification system
It 'important to understand that I gain from the paper, so you can concentrate on the right.
You will receive a total of 150 marks -
10 for the short introduction,
10 for the calculation of the cost
30 for presentation, language, style
100 for options, suggestions and advice.
So little 'time to spend on a well-done introduction, calculations and style, and will already be more than 50 points, and is only 75 topass.
The venerable structure
Introduction
The purpose of this report
A summary of the situation
Summary of objectives
More information
Risk attitudes
Accessibility Evaluation
Immediate improvements / solutions fast
Recommendations
Next Steps
The structure, explains
Introduction
Start writing the report to the client and address him or her by name and speak in first person as "Brian, we talkedabout your desire to buy a home abroad, and for that I am looking at ...."
Agree the purpose of the report, and this should be in conjunction with its objectives and target groups. Talking about the information you have collected, but said in short, not only going to repeat what the phenomenon is. Keep your words and language to suit the customers agree
And 'here we recommend you begin, some assumptions so that we realize its objectives clear. This may be followed by someQuestions to ask if you need more information or to confirm or clarify something. Assumptions are fine as long as you know how this should be clarified or just ask you to confirm the customer. I know that in real life you could not think of anything, but you know?
Only when you know your customers and where you're going you can really get in the report and decides to take the steps to him.
Accessibility Evaluation
Here you can earn some 'practicalMarkers to display your knowledge of income tax and social security for the customer to know how much money you can afford it, will recommend for your product you have to pay regular income.
Do not space out the calculations as a textbook, but writes them to understand for the customer. Tell each line of numbers so that they know what to say and can follow.
To be precise, of course, you get points for correct answer. But you have to score more points for the function outon the road. And 'how to do the math test at school.
Immediate improvements / solutions fast
There may be some things really fast, you improve your customer and do not deserve a title in the recommendations might be.
For example, changing the name of investments to minimize tax man or a woman paid with a credit card or other high-interest loans with money from the deposits.
Recommendations
This section isvalue of 100 marks and the flesh of the full report. Break down your advice to pieces and distributed over time, how important they are. Try to decide how many notes, the auditor may assign to each section and then spend much time on each of them.
Try to put them in order of priority, as this is a good practice of financial planning.
Set options for the customer, explain, and talk with customers as you go.
Make your recommendations andto justify why they use the real numbers, where you can. Do not let it go for the customer, and too many open "will decide this when we meet again."
You want to make the brands with a strong recommendation for any valid reason why.
If you are not qualified to advise, to give someone, or another professional like a lawyer.
Think of your five W - what, who, how, why and when, for example
What is the consultation
Who is involved
How are you doingWork?
Because they need
When should you start?
Next Steps
The last part of the report, the next steps section. Here you want to pack the things that give a clear direction for the customer, know his next step, confirming the review process, fee structure, perhaps.
Some final tips
Keep an eye on the time - 3 hours is a long time, if you sit on the beach doing nothing, but it is very fast, if you are enjoyingitself. But seriously, not to plan your time and make sure you end the relationship. Obtaining the maximum marks in the first minutes of the section must, at least to start each section.
Representation and structure. It must be clear and looks like a real professional reports with titles, subtitles. Maybe tables, a series of bulleted lists, charts, illustrations. Why not, after all is for the customer, so it might work better as a risk chart a wall of words. MorePeople today are visual in nature and can paint a thousand words, images.
All technical terms explained. Do not throw in a technical term without explaining just do not. Something more complex to explain in words, to understand the customer. Beware of the TLA - three letter acronyms - our world is full of them, you know what they mean, but your customer?
Less is more. Good communication is a powerful and used only a few words, just look at the posters andFlyers, are conservative with their use of words. Because wafer when a short concise statement will do. In addition, you must write only 3 hours.
Summary
Some ideas and tips here, I hope you agree. Remember how much preparation to do before, to maximize your success in the exam. Good luck
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