Course Brief
Topics to be covered include:
- Retirement Planning
- Loans
- Mortgages
- Life Assurance
Retirement Planning
On completion, the candidate should:
- know the reasons for retirement planning
- know the basic features and risk characteristics of retirement funds:
- state schemes
- corporate retirement plans:
- defined benefit
- defined contribution
- personal schemes
Loans
On completion, the candidate should:
- know the differences between bank loans, overdrafts and credit card borrowing
- know the difference between the quoted interest rate on borrowing and the effective annual percentage rate of borrowing
- be able to calculate the effective annual percentage rate of borrowing, given the quoted interest rate and frequency of payment
- know the difference between secured and unsecured borrowing
Mortgages
On completion, the candidate should:
- understand the characteristics of the mortgage market:
- interest rates
- repayment
- know the prohibition on interest and the types of mortgage contracts that exist in Islamic finance