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FNSINC602A Interpret and use financial statistics and tools

Assessment 1
Analysis of financial data
30% 1,000
Assessment 2
Manual: Financial statistics and tools
70% 4,000-5,000
Instructions
Once you feel confident that you have covered the learning materials for this unit, you are ready
to attempt this assessment.
To complete the assessment, please create a new Microsoft Word document and type your answers
to each question or task in this document, noting the question number from the assessment.
To help Open Colleges manage your assessment, please use the following file naming
convention when you save your Microsoft Word document. Your file should be named and
saved to your computer’s hard drive using your: [student number]_[assessment]_[assessment
number].doc for example 12345678_21850a_01.docx.
Assessment Submission
When you are ready to submit your assessment, upload the file in OpenSpace using the
Assessment Upload links in the relevant Study Period of your course. The Student Lounge
provides a ‘Quick Guide to Uploading Assessments’ if you need further assistance. Uploading
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and grade on your assessment.
Alternatively, you can print and post your assessment to Open Colleges, PO Box 1568,
Strawberry Hills, NSW 2012. Please ensure that you use the Open Colleges Assessment Cover
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submitted by post may take up to 21 days from the date received by Open Colleges to grade and
are reliant on the efficiency of the postal service.
It is important that you keep a copy of all electronic and hardcopy assessments submitted to
Open Colleges.
2
Analysis of financial data
For this assessment you should assume you are employed in a financial services role. Your
manager, Abby, sends you this memo
To: You
From: Abby
I need you to analyse some financial data for me.
First, here is the information you will need:
Consumer Price Index data (source ABS):
NO NAME INDEX NO (I) WEIGHTING (W) I X W
1 Food 120 20
2 Clothes 103 7
3 Housing 98 15
4 Household equipment and operation 103 16
5 Transportation 115 12
6 Tobacco and alcohol 128 7
7 Health and personal care 110 9
8 Recreation and education 106 14
TOTAL 100
Formula to obtain the CPI:
CPI =
Σ (Index No. x weighting)
100
To determine what would happen to the CPI if there was a price increase in a particular
category of items:
Assume there was a 10% price increase in the cost of food:
Step 1: Multiply the current food Index No by the Weighting
120 x 20 = 2,400
Step2: Increase the food Index No by 10%
120 x 1.1 = 132
Step 3: Multiply the new Index No by the Weighting
132 x 20 = 2,640
Step 4: Subtract the results from Step 1 from the results from Step 3
2,640 – 2,400 = 240.
This means that a 10% increase in the cost of food would have a 2.4% (ie 240 /100) increase on
the CPI calculation.
3
I require you to:
1. Calculate the CPI for the given period.
2. Determine what would happen to the CPI if there was:
a. a 20% increase in the cost of clothing
b. a 10% increase in the cost of housing
c. a 5% increase in the cost of food
3. Determine which of the increases referred to in the preceding paragraph would have the
greatest impact on the CPI.
4. Describe your results in a brief written report. Use a table and graph as part of the report.
Show the steps by which you calculate this.
This assessment task will assess your ability to interpret and make use of financial data. It
will require you to identify the most appropriate method to obtain the information sought by
Abby. It will evaluate your capabilities in undertaking numerical calculations and analysing the
results. It will assess your ability to describe your findings in an appropriate format.

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