environment. appropriate Lectures. learning Other (specify) x First. Edition, Edition, Site.

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1 U N I V E R S I T Y O F B A H R A I N COLLEGE OF BUSINESS ADMINISTRATION Course Syllabus Department: Economics and Finance Program: B.Sc. in Banking and Finance Program Intended Learning Outcomes (PILOs) Upon completion of this program students will: a. develop knowledge of all core functional areas of business and an understanding of their interconnections. b. demonstratee understanding of how business operates in global and multicultural environment. c. apply critical and reflective thinking skills and use analyticall tools to evaluate information, solve problems, and make sound decisions d. communicate effectively orally and in writing using appropriate technologies e. operate effectively in a variety of team roles and take leadership roles, where appropriate f. learn to manage leaning tasks independently, professionally and ethically (Learning to learn) Course code: FIN 222 Course title: Principles of Risk Management and Insurance Course credits: 3 Allocation of NQF credit Learning Activity Lectures Tutorial/Seminars Practical/Laboratory Supervised Assessment Student Central learning/independent learning Work Based Learning Other (specify) Notes if any 2.5 hours per week Quizzes + Exams 6 hours per week Total Time x15= hours x15= Pre requisites: ECON 141 & FIN 220 Course web page: 10. Semester: First 11. Textbook(s) ): x First Second Summer a) George E. Rejda (2008), Principles of Risk Management and Insurance, Tenth Edition, Pearson, Addison Wesley, Pearson International Edition 12. References: a) Trieschmann hoyt Sommer (2008), Risk Management and Insurance, twelh Edition, Thomson South Western 13. Other resources used (e.g. e Learning, field visits, periodicals, software, etc.): Textbook Site. 14. Course description (from the catalog): Encourage the development of analytical and decision making. This objective is ought with the context of risk management, a term with multiple potential meaning. For our purposes, risk management is defined as the decisiontreating making process by which adverse consequencess of are minimized. To familiarize studentss with risk management process, and the methods of 1 Univer rsity of Bahrain College of Business Course Specification

2 personal and business risk exposures domestically and internationally. To focus on the principle and practices of insurance as a method of treating personal and business risk exposures domestically and internationally, To provide the necessary foundation for those who choose to work in insurance industry Course coordinator: Mr. Mesfer Al Muhanadi Staff Name Ext. Room No. Address Mr. Mesfer Al-Muhanadi malmuhanadi@uob.edu.bh Ms. Sara AL-Balooshi 8541 salbalushi@uob.edu.bh 16. Course Intended Learning Outcomes (CILOs) On successful completion of the course students will: a. Understand and be able to explain the basic principles of risks and types of risks affecting individuals and businesses. b. Be introduced to the concept of insurance and understand its basics of sharing and averaging losses. c. Recognize the techniques on how to treat risks and lessen its impact over individuals and entities using control or financing methods. d. Be able to analyze and resolve Insurance related issues; and solve application questions e. Learn the fundamental requirements of legal principles in the field of insurance f. Be able to apply theories or concepts learned to case scenarios and show their analytical thinking with support of the insurance context. 17. Teaching Methods: Lectures that can only provide a structure to assist students to study, most learning will be achieved outside class time which is limited. Discussions in which students are motivated to develop their own views and hear their own voices. Cooperative and collaborative learning in which students work individually or together in small groups to explain and interpret trends in the financial institutions and the banking sector or to solve problems Case studies that present students with real-life problems and enable them to apply what they have learned in the classroom to real life situations. 18. Rules and regulations: Attendance Students are expected to attend all classes and examinations. Students who are absent for 15% of the total course hours will receive a warning leer. Students who are absent for 25% of the total course hours will be withdrawn from the course with a WF and will not be permitted to take the final examination. A WF is treated as a failing grade for calculation of the GPA. 2

3 If you miss a class it is your responsibility to find out what material or assignments were presented in class. Office hours are devoted only to clarify unclear points not to repeat class lectures. Assignments All coursework assignments have a due date for submission. A large part of students' work is likely to be assessed with marks, which will count towards the final grade for the course. Some courses may require an amount of non assessed work, for example, class participation, field visits, attendance in special types of lectures and workshops etc. Failure to submit the assessed work, as required by the course instructor, will in general lead to an (F) grade for the assessed work. References of the source material consulted should be fully recorded as bibliographical details in the coursework. Failure to do so will be considered an act of plagiarism which may lead to lose of grades on the coursework. All coursework submitted should be neat, carefully proofread, and accurately presented. It is advisable to use a Microsoft format for example, Access, Excel, Word, PowerPoint, etc. Failure to meet the specified dates for submission of coursework will be penalized by the instructor by deducting marks, unless the student submits a valid excuse (hospital stay, death in family, accident, etc.) for the late submission. Then an extension may be granted. Exams Students who arrive late (within ½ hour after the exam starts) for any exam, for any reason, will not be given additional time. Plan ahead to arrive early. Items not allowed inside examination halls include books, notebooks, file folders, and notes of any kind. Sharing of stationery and calculators are not allowed during any exam. Cheating on exams will not be tolerated. During any exam, communication of any kind between students is expressly forbidden. Students caught discussing answers, using prohibited materials, or assisting others during exams will be referred to the College Disciplinary Board. Academic Dishonesty: All students are expected to maintain a high standard of ethics in their academic activities. Hence, any form of academic dishonesty is considered a serious matter. Academic dishonesty such as cheating, plagiarism, fabrication, and forgery will not be tolerated and will be dealt with in accordance with the university regulations. Missed Exams Policy: Students are expected to take every exam scheduled. Students should understand that missing exams is a serious matter that may result in failure of the course if proper procedures are not followed. For any missed mid term exam, you must provide your instructor with a valid wrien excuse within 3 days aer the date of the exam. Students who do not turn in a valid written excuse within this period of time will receive a zero on the 3

4 missed exam(s). For the final exam, the College Council will decide whether the student s excuse is valid and accepted. Per College rules, students who miss the final exam with a valid excuse will have to wait to take the next semester s final exam and will receive a grade of F in the interim. A revised final grade will be submitted after the final exam is taken the next semester. Absence with invalid excuse will result in a grade of zero in the final exam. Assessment Type Number Weight Quizzes 2 10% Midterms 1 40% Group Assignment/case study 1 10% Final 1 40% Total 100% Assignments, Exams and quizzes include the following types of questions: 1. Multiple choices that measure various kinds of knowledge, including students' understanding of terminology, facts, principles, methods, and procedures, as well as their ability to apply, interpret, and justify. 2. Problems and essays (short descriptive or qualitative answers, diagrams with explanation) to test a specific objective such as students' understanding and as well as their ability to apply, interpret, and justify. Week Date Topics covered CILOs 1 15/09/13 CHAPTER 1: RISK IN OUR SOCIETY The student will be able to explain the meaning of risk, Distinguish between different types of risk. Identify the major pure risks that are associated with financial insecurity, understand how risk is a burden to society a, b, & d 2 22/09/ /09/ /10/13 CHAPTER 2: INSURANCE AND RISK The student will be able to explain the law of large numbers, the requirements of an insurable risk from the viewpoint of a private insurer, the major insurable and uninsurable risks in our society, describe the major types of insurance, explain the benefits and social costs of insurance CHAPTER 2: INSURANCE AND RISK The student will be able to explain the law of large numbers, the requirements of an insurable risk from the viewpoint of a private insurer, the major insurable and uninsurable risks in our society, describe the major types of insurance, explain the benefits and social costs of insurance Application Questions Solving CHAPTER 3: INTRODUCTION TO RISK MANAGEMENT The student will be able to Define risk management and its objectives, the steps in the risk management process, explain the major risk control techniques, the major risk financing techniques, including, and apply the principles of risk management to a personal risk management program a, b, & d a, b, & d a, b, c & d 4

5 5 6/10/ /10/13 CHAPTER 3: INTRODUCTION TO RISK MANAGEMENT The student will be able to Define risk management and its objectives, the steps in the risk management process, explain the major risk control techniques, the major risk financing techniques, including, and apply the principles of risk management to a personal risk management program Application Questions Solving Group Assignment Question Discussed Chapter 5: TYPES OF INSURERS AND MARKETING SYSTEMS (pg. 98 pg. 102) The student will be able to describe the factor of agents and brokers, identify the different types of marketing systems. a, b, c & d b, d & f 7 27/10/13 Chapter 6: INSURANCE COMPANY OPERATIONS The student will be able to explain the rate making function of insurers, the steps in the underwriting process, describe the sales and marketing activities of insurers, process of settling a claim, reasons for reinsurance and the various types of reinsurance treaties and also explain the importance of insurance company investments and identify the various types of investments of insurers. b, d & f 8 03/11/ /11/ /11/ /11/13 Chapter 6: INSURANCE COMPANY OPERATIONS The student will be able to explain the rate making function of insurers, the steps in the underwriting process, describe the sales and marketing activities of insurers, process of settling a claim, reasons for reinsurance and the various types of reinsurance treaties and also explain the importance of insurance company investments and identify the various types of investments of insurers. Application Questions Solving MIDTERM BREAK Chapter 9: FUNDEMANTEL LEGAL PRINCIPLES The student will be able to explain principles of indemnity, insurable interest, subrogation, utmost good faith, explain the legal concepts of representations, concealment, and warranty support the principle of utmost good faith, describe the basic requirements for the formation of a valid insurance contract Chapter 10: ANALYSIS OF INSURANCE CONTRACTS The student will be able to explain the basic parts of an insurance contract. Explain the meaning of Insured in a insurance contract. Coinsurance, coinsurance works in a health insurance contract, the common types of deductibles that appear in insurance contract. b, d & f a, d, e, & f a, d, e, & f 5

6 12 01/12/ /12/ /12/ /12/ /12/13 Chapter 10: ANALYSIS OF INSURANCE CONTRACTS The student will be able to explain the basic parts of an insurance contract. Explain the meaning of Insured in a insurance contract. Coinsurance, coinsurance works in a health insurance contract, the common types of deductibles that appear in insurance contract. Problem Solving Application Question Solving Chapter 11: LIFE INSURANCE The student will be able to explain the meaning of premature death, describe the financial impact of premature death, explain the needs approach for estimating the amount of life insurance, describe term life insurance, explain the characteristics of ordinary life insurance, and describe the variations of whole life insurance. Group Presentations GROUP PRESENTATIONS WEEK Chapter 19: THE LIABILITY RISK (pg. 416 pg. 421) The student will be able to Define negligence and explain the elements of a negligent act, and explain legal defenses that can be used in a lawsuit. Final Revision: Problem Solving, Application Question Solving a, d, e, & f b, d, & f b, d, & f a, b, d, & f a, b, c, d, e,& f 6