Management of Personal Financial Risk

FIN30018 12.5 Credit Points Hawthorn, Online Available to incoming Study Abroad and Exchange students

Duration

  • One Semester or equivalent

Contact hours

  • 36 hours

2021 teaching periods

Hawthorn

Higher Ed. Semester 1 Higher Ed. Semester 2

Dates:
1 Mar 21 - 30 May 21

Results:
6 Jul 21

Last self enrolment:
14 Mar 21

Census:
31 Mar 21

Last withdraw without fail:
16 Apr 21

Dates:
2 Aug 21 - 31 Oct 21

Results:
7 Dec 21

Last self enrolment:
15 Aug 21

Census:
31 Aug 21

Last withdraw without fail:
17 Sep 21

More teaching periods

Swinburne Online

Teaching Period 2

Dates:
5 Jul 21 - 3 Oct 21

Results:
26 Oct 21

Last self enrolment:
18 Jul 21

Census:
30 Jul 21

Last withdraw without fail:
20 Aug 21


Corequisites

Nil

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)
Students who successfully complete this unit 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.