Management of Personal Financial Risk

FIN30018 12.5 Credit Points Hawthorn, Online

Duration

  • One Semester or equivalent

Contact hours

  • 24 hours face to face + Blended and Swinburne Online

On-campus unit delivery combines face-to-face and digital learning. For Online unit delivery, learning is conducted exclusively online.

Prerequisites

and

Aims and objectives

This unit aims to provide students with the knowledge of the pervasive nature of pure risk on individuals and society. Students will learn about risk management strategies to be able to provide personal risk advice. Upon the completion of the unit students will have an overview of how insurance companies operate, how the insurance industry in Australia is structured and how insurance policies are written. Students will also learn about various types of insurance policies and the issues of cost, cover and government policies related to these insurance products.
 
Unit Learning Outcomes (ULO)
On successful completion of this unit students will be able to:
 
1. Evaluate the nature of risk, benefits of insurance and principles of risk management.
2. Apply insurance planning concepts to determine insurance needs in personal financial planning and calculate tax estimates of insurance products.
3. Evaluate and calculate the appropriate levels of insurance cover and communicate risk management strategies, in the form of Statement of Advice, to clients with integrity and compliance to the regulatory framework.
4. Evaluate different insurance policies and select appropriate techniques to treat loss exposures, which are compliant with the legal principles governing insurance contracts.
5. Work effectively in diverse teams.