fin2irp insurance and risk
INSURANCE AND RISK PLANNING
FIN2IRP
2019
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. You will examine 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-ordinatorGreg Jamieson
Available to Study Abroad StudentsYes
Subject year levelYear Level 2 - UG
Exchange StudentsYes
Subject particulars
Subject rules
Prerequisites BUS1AFB or ACC1AMD or FIN1FOF
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Graduate capabilities & intended learning outcomes
01. Describe and evaluate the advisory function of a financial planner as it relates to the provision of advice on insurance and risk management products and strategies.
- 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)
02. Develop and understanding of the legal and regulatory framework that governs insurance products and the provision of advice on insurance products.
- Activities:
- Class room activities and tutorial questions. Individual assignment and 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)
03. Analyse and critically evaluate a comprehensive set of client circumstances in order to identify the insurance and risk management needs and goals of a client.
- Activities:
- Individual assignment.
04. Describe and evaluate the application of financial products commonly used to insure against, and manage, risk.
- Activities:
- Class room activities and tutorial questions. 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)
05. Research, evaluate and apply a range of insurance and risk management strategies appropriate to the needs and objectives of a client, in an ethical and professional manner.
- Activities:
- Individual assignment.
- 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)
06. Develop skills in report writing, financial modelling and the presentation of information to clients.
- Activities:
- Class room activities and tutorial questions. Individual assignment.
- 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
Select to view your study options…
Melbourne, 2019, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorGreg Jamieson
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* |
|---|---|---|---|
| 3-hour Final Examination | Broadly equivalent to 3,000 words Hurdle requirement: Students must achieve at least 40% in the final exam. | 60 | 01, 02, 04, 05 |
| Four on-line or in-class tutorial assessment tasks (equivalent to 125 words each) | 500 words in total | 10 | 01, 02, 03, 04, 05 |
| 1,000-word Individual Case Study | 30 | 02, 03, 04, 05, 06 |