fin2irp insurance and risk
INSURANCE AND RISK PLANNING
FIN2IRP
2018
Credit points: 15
Subject outline
In this subject you will attain a basic understanding of the areas of insurance and the general management of risk. The subject examines the range of personal, business and general insurance products and the advice and strategies used by financial planners to satisfy the needs of clients. You will be introduced to the areas of risk and various risk management techniques, the key types of insurances policies, policy documents, underwriting and claims handling procedures. The subject will also provide coverage of a range of risk management strategies utilised by business. There will be an emphasis placed on the application of knowledge into solving real-life issues and extensive use will be made of practical case-studies throughout this subject.
SchoolLa Trobe Business School
Credit points15
Subject Co-ordinatorDarren Henry
Available to Study Abroad StudentsYes
Subject year levelYear Level 2 - UG
Exchange StudentsYes
Subject particulars
Subject rules
Prerequisites BUS1AFB
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Graduate capabilities & intended learning outcomes
01. Describe and evaluate the insurance and risk management function including the regulatory framework and environment
- Activities:
- Class room activities and tutorial questions. Also an individual assignment that exposes students to issues experienced within the workplace and how they are applied in a practical setting. Final exam.
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
02. Understand the advisory function as it relates to the provision of advice on insurance and risk management techniques
- Activities:
- Class room activities and tutorial questions. Final exam.
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
03. Analyse commonly utilised financial products used within the insurance market and for managing risk, and understand their application
- Activities:
- Class room activities and tutorial questions. Also an individual assignment that exposes students to issues experienced within the workplace and how they are applied in a practical setting. Final exam.
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
04. Construct and present appropriate insurance and risk management strategies and solutions
- Activities:
- Individual assignment that exposes students to issues experienced within the workplace and how they are applied in a practical setting.
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Quantitative Literacy)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
05. Develop skills in report writing and in the presentation of information to industry standards
- Activities:
- Class room activities and tutorial questions. Also an individual assignment that exposes students to issues experienced within the workplace and how they are applied in a practical setting.
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
Subject options
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Melbourne, 2018, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorDarren Henry
Class requirements
LectureWeek: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 32 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 32 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| One 3-hour final examination | Summative assessment task | 60 | 01, 02, 03 |
| Four on-line or in-class quizzes | Summative assessment task. Broadly equivalent to 500 words in total. | 10 | 01, 02, 03, 04 |
| Individual case study assignment (1,000 words) | Summative assessment task | 30 | 02, 03, 04, 05 |