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Master of Science in Risk Management and InsuranceCOURSE DESCRIPTIONS

MSRMI: Course Descriptions

MSF 500
Financial Markets
3 Credits

This course analyzes financial markets and institutions in the broadest sense. It addresses financial markets, interest rates, and the behavior of the markets as rates change. It explores the structure of the Federal Reserve and the tools it uses to engineer monetary policy. It examines money markets and capital markets. It explores the mortgage market, different types of mortgages, and the relationship between subprime mortgages. Foreign currencies and purchasing power parity are also addressed. Insurance and pensions are also examined.

MBA 502
Applied Quantitative Methods for Business
3 Credits

This is an applied regression analysis course in the theory and application of regression analysis of economic and other social science data. It is designed to build on the basics of introductory statistics so that students can apply advanced regression analysis techniques and demonstrate the ability to do hypothesis testing. Students develop the necessary skills to build a parsimonious model that conforms to the assumptions of classical linear regression (CLR). The course is intended to provide more of a “hands on” than theoretical approach to quantitative analysis. Students transform data to test hypotheses using different forms of regression analysis. This analysis is evaluated for attributes of a good model (parsimony, identifiability, goodness of fit, theoretical consistency, and predictive power). During a students’ evaluation of model specification, they learn how to identify and address violations of (CLR). At the completion of this course, students will have the ability to perform and evaluate quantitative analysis.

MSF 505
Managerial Finance
3 Credits

Managerial Finance, MSF505, provides and teaches students a framework, concepts, and tools for analyzing financial decisions based on fundamental principles of modern financial theory from a practitioner viewpoint. The approach is rigorous and analytical. It prepares students regardless of their educational and business background to make sound financial decisions. Topics include time value of money; stock valuation and stock market equilibrium; cost of capital, discounted cash flow techniques; corporate capital budgeting and valuation. The course also analyzes corporate financial policy, financial planning and forecasting financial statements.

MBE 515
Enterprise Risk Management
3 Credits

This course will survey the evolving topic of Enterprise Risk Management (ERM) specifically focusing on key elements of the process that are of most importance to any corporate enterprise whether in finance, construction, energy, healthcare or consumer products. Students will develop an understanding of the global framework within which the discipline of risk management is maturing. Students will learn how to identify, measure, and manage risk, within the context of the firm, using a number of technical and non-technical tools. A description of the current legal and regulatory framework as well as best practices surrounding risk management, compliance, and ethics, will also be covered.

RMI 530
Liability and Property Risk Management and Insurance
3 Credits

This course provides students with an in-depth understanding and knowledge of Liability and Property Risk Management &Insurance. Students acquire an understanding of the liability loss exposure and the law of negligence. The course provides a survey of auto and homeowners insurance products. Students study other property and, liability insurance coverages including inland marine floaters, ISO dwelling program, government property insurance programs, business income, personal liability policy, transportation insurance, commercial general liability policy, workers compensation insurance, aircraft insurance, professional liability insurance, crime insurance and surety bonds, and commercial crime coverage. Students learn to utilize liability and property policies as important means for risk management.

RMI 540
Life & Health Insurance
3 Credits

This course provides students with an in-depth understanding and knowledge about the principles on which life and health insurance are based. Students develop an understanding of the role and importance of life and health insurance in our society; and to provide an introductory overview of life and health insurance products and pricing concepts.

RMI 550
Retirement Planning & Employee Benefit Plan Design
3 Credits

This course analyzes retirement planning and employee benefits. Students study the important steps and different aspects of designing, developing and planning an effective employee benefits program. The course covers a wide array of essential topics for developing and planning a cost-effective employee benefit plan including, health insurance, compensation and benefits packages, self-funding vs. insurance, taxation, and forecasting. Moreover, it offers benchmarking costs and plan performance.

RMI 560
Insurance Company Operations, Qualification, and Underwriting
3 Credits

Students study the fundamentals of insurance companies operations covering business development and customer acquisition, product development and distribution, underwriting, claim administration, solvency management, reinsurance, and information management. Students gain an in-depth understanding of the important strategic decisions made by executives and day to day management of the operations of an insurance company.

MSF 580
Insurance & Risk Management
3 Credits

This course identifies and evaluates business and personal risk using insurance as a risk management tool. Students will study introductory and advanced topics in risk management as well as life, health, property and liability insurance with their related legal and compliance issues.

RMI 600
Risk Management & Insurance Capstone
3 Credits

Students are provided the opportunity to showcase their acquired knowledge through the RMI program to research and prepare a comprehensive Risk Analysis Report for an enterprise. They conduct a risk assessment to identify the company’s risks, and recognize the controls to mitigate and reduce risks. Students devise a risk management plan with a risk assessment matrix complemented by insurance policies.

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