RFP Module 4 study plan

Map the financial planning process into six stages and write a one-line description of each stage from memory

Build a personal balance sheet and cash-flow statement, then compute net worth and savings ratio from them

Define time value of money variables (PV, FV, PMT, n, i) and solve five single-sum and five annuity problems without notes

List the core investment asset classes and state the risk and return characteristics that separate each one

Draft a client data-gathering checklist covering goals, constraints, and risk tolerance inputs

Compute expected return, variance, and standard deviation for a two-asset portfolio and interpret the correlation effect

Explain the risk-return tradeoff and distinguish systematic from unsystematic risk with one example each

Describe how diversification reduces portfolio risk and state the limits of that reduction

Identify the main life and health insurance products and match each to the risk it transfers

Calculate a human life value or needs-based insurance requirement for a sample household

Compare term, whole life, and endowment coverage on premium, cash value, and duration

Explain indemnity versus benefit-based health coverage and the role of deductibles and co-insurance

Outline the steps of a claims process and the documents a beneficiary must submit

Define the legal instruments of estate transfer (will, gift, trust, nomination) and state when each applies

Compute a simple estate distribution among heirs under a stated sharing rule

State the conditions that make zakat obligatory on wealth and identify which asset types enter the zakat base

Compute zakat on cash, savings, gold, and business assets using the nisab threshold and the 2.5% rate

Distinguish zakat from other voluntary giving and explain the annual haul (holding period) requirement

Explain how tax planning differs from tax evasion and list legitimate planning techniques

Apply the planning process to a zakat-and-tax scenario and document each step

Estimate retirement corpus needs using current expenses, inflation, and expected retirement duration

Compare defined benefit and defined contribution schemes on risk bearing and payout certainty

Compute the required monthly savings to reach a target corpus using annuity formulas

Evaluate the tax treatment of retirement contributions and withdrawals in a sample plan

Identify post-retirement risks including longevity, inflation, and health-cost risk, and propose one mitigation for each

Integrate estate planning with retirement planning by naming beneficiaries and reviewing nomination consistency

Explain how probate works and describe two ways to avoid it

Assess how retirement account balances pass at death under a stated beneficiary designation

Draft an estate inventory listing assets, ownership form, and intended recipient

Identify gaps between intended and actual asset transfer for a sample client

Construct a full financial plan for a sample client covering protection, investment, tax, and retirement sections

Recommend an asset allocation consistent with the client's stated risk tolerance and time horizon

Justify each insurance recommendation against an identified risk exposure

Stress-test the plan against a 20% income drop and an inflation rise, and note the adjustments

Write client-facing recommendations in plain language without jargon

Review all seven domains using a one-page summary sheet per domain

Complete a timed 60-question mock exam and score it by domain

Analyze every missed question and record the underlying concept, not just the answer

Re-drill the two weakest domains with targeted practice until accuracy exceeds 70%

Recite the key formulas (TVM, zakat, insurance needs, retirement corpus) from memory