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

2020 teaching periods

Hawthorn

Higher Ed. Semester 2

Dates:
3 Aug 20 - 1 Nov 20

Results:
8 Dec 20

Last self enrolment:
16 Aug 20

Census:
31 Aug 20

Last withdraw without fail:
18 Sep 20

More teaching periods

Swinburne Online

Teaching Period 1 Teaching Period 3

Dates:
9 Mar 20 - 7 Jun 20

Results:
30 Jun 20

Last self enrolment:
22 Mar 20

Census:
3 Apr 20

Last withdraw without fail:
24 Apr 20

Dates:
2 Nov 20 - 7 Feb 21

Results:
2 Mar 21

Last self enrolment:
15 Nov 20

Census:
27 Nov 20

Last withdraw without fail:
25 Dec 20


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.