2101. Introduction to Risk Management (3 s.h.) F S SS.

(Formerly: RSK MGT 0001.)

Prerequisite: Completion of either Economics 1101 (C051) or 1102 (C052), Statistics 1001 (C011) [or equivalent] and sophomore standing.

Introduction to the study of risk management and insurance. Principal casualty risks to which organizations are exposed, including those involved in employee benefits. Means of identification, evaluation, and treatment of these risks are analyzed, with the methods of treatment including insurance, risk retention, self-insurance, and loss control.

2102. Professional Development in Risk Management and Insurance (1 s.h.) F S SS.

Prerequisite: RSK MGT 2101 (0001) or 2901 (0091) with a grade of C or better and Business Administration 2101 (0100). Special authorization is required.

This course is a continuation of the skills that were learned in Business Administration 2101. The class will further prepare students for internships and permanent placement in the areas of Risk Management and Actuarial Science. Emphasis on networking, career planning, interview preparation, and job search strategies. Students will attend the department’s corporate seminar series as well.

Note: This course can only be taken by students in the Risk Management and Insurance or Actuarial Science majors.

2501. Fundamentals of Personal Financial Planning and Insurance Buying (3 s.h.) SS.

Managing your finances is an important and needed skill in society today. This course explores the areas needed to manage household and personal finances. This non-technical course will prepare students to make more informed decisions in a complicated financial world, enabling them to reach their financial goals. Some of the topics explored will include but are not limited to: creating and managing budgets, taxes, savings, estate planning, retirement goals, major purchases, risk management and insurance planning, credit cards, loans, investments, and interest rates.

2901. Honors Introduction to Risk Management (3 s.h.) F S.

(Formerly: RSK MGT 0091.)

Prerequisite: Completion of either Economics 1101 (C051) or 1102 (C052), Statistics 1001 (C011) [or equivalent] and sophomore standing.

This is the Honors version of Risk Management and Insurance 2101.

Note: Open only to business-designated Honors students, or with special permission of the Program Director. May be used to satisfy the risk management and insurance requirement of the Fox School of Business and Management.

3501. Life and Health Insurance and Employee Benefits (3 s.h.) F S.

(Formerly: RSK MGT 0205.)

Prerequisite: RSK MGT 2101 (0001) or 2901 (0091) with a grade of C or better.

The purpose of this course is to expose students to the design, financing, and structure of employer provided benefit plans. Virtually every employer offers some type of employee benefits in addition to salary as compensation for their employees. These have received increasing attention in recent years for several reasons including increased government regulation of employee benefit plans, increased cost of providing these benefits and increasing complexity of preserving favorable income tax treatment for these plans. We will primarily examine those benefits commonly known as Health and Welfare Benefits. These include the traditional benefits such as life, health and disability insurance in addition to dental, vision and prescription drug plans, HMOs, PPOs and other managed care systems. Emphasis will be on the design and structure of these plans, current problems and issues associated with the provision of these benefits.

Note: This course is required for all Risk Management & Insurance majors and must be completed with a minimum grade of C.

3502. Property and Liability Insurance Coverages (3 s.h.) F S.

(Formerly: RSK MGT 0209.)

Prerequisite: RSK MGT 2101 (0001) or 2901 (0091) with a grade of C or better.

This course evaluates property, net income, and liability loss exposures, analysis of insurance contracts, and specific insurance coverages designed to handle the above exposures.

Note: This course is required for all Risk Management & Insurance majors and must be completed with a minimum grade of C.

3503. Retirement Plans (3 s.h.) F S.

(Formerly: RSK MGT 0325.)

Prerequisite: Completion of RSK MGT 3501 (0205) with a grade of C or better.

Contemporary fundamentals of pension plans. Major subject areas covered include history and development, plan design, actuarial aspects (costs and funding), investment of plan assets, and plan termination insurance. Provides an understanding of the types of individual account retirement plans available. Discussed are profit-sharing plans, thrift and savings plan, cash or deferred arrangements, employee stock ownership and stock bonus plans, individual retirement accounts, simplified employee pensions, tax-deferred annuities, and executive retirement arrangements. Certain functional areas applicable to all types of retirement plans such as taxation, plan installation, disclosure, and fiduciary aspects are also discussed.

Note: This course is one of two courses satisfying the Technology Requirement for Risk Management & Insurance majors.

3504. Property and Liability Insurance Functions (3 s.h.) F S.

(Formerly: RSK MGT 0329.)

Prerequisite: Completion of RSK MGT 3502 (0209) with a grade of C or better.

Functional insurance areas of rate making, underwriting, marketing, loss control, and claims are studied. Insurance company financial structure and operations analysis are included.

3505. Actuarial Applications in Risk Management and Insurance (3 s.h.) F S.

(Formerly: RSK MGT 0339.)

Prerequisite: RSK MGT 2101 (0001) or 2901 (0091) with a grade of C, Statistics 2102 (0022) and Finance 3101 (0103).

Applies theoretical models to insurance problems and is the real-world counterpart to theories discussed in actuarial science, risk management, and insurance courses. The course is divided into two parts: (1) statistical applications and (2) finance and economic applications. Discusses probability distributions frequently used to model losses and inferences which can be made from claims data (e.g., goodness-of-fit and experience rating). The finance section includes application of portfolio theory to the value of the firm (with and without insurance) to reinsurance decisions and captive insurance situations.

Note: This course is one of two courses satisfying the Technology Requirement for Risk Management & Insurance majors. RSK MGT 3505 also satisfies the Technology Requirement for students double majoring in Risk Management & Insurance and Finance.

3511. Social Insurance and Public Policy (3 s.h.)

Prerequisite: Microeconomics 1102/1902, RMI 2101/2901, RMI 3501.

This course will introduce you to the fundamentals of economic and insurance theories related to government intervention in insurance markets. In the first part of the course we will use basic microeconomic principles to analyze concepts such as scarcity of resources, tools of positive and normative analysis, supply and demand for insurance, requirements of an insurable risk and their violations as well as the economic view of government and reasons for government intervention in private markets. This part of the course will cover theories related to both the supply and demand for insurance. In addition we will explore the nature of economic security and insecurity, the basic principles of social insurance and comparisons of social verses private insurance. We will also learn and analyze, health, healthcare, and alternative theories of the demand for health insurance in order to compare and contrast private and national health insurance. We will then evaluate various social insurance programs using the tools of analysis we have developed in the course. In particular we will focus on OASDI (Social Security), Medicare, Medicaid and National Healthcare.

3567. International Risk Management (3 s.h.) F S.

Prerequisite: RSK MGT 2101 (0001)/2901 (0091), RSK MGT 3501 (0205), and RSK MGT 3502 (0209). A minimum grade of C required in all prerequisite courses.

This course is designed to provide an in-depth understanding of risk management and insurance from an international perspective. Enterprise risk management is examined in a global economy, with an emphasis on risk management for multinational corporations. Topics covered in this course also include an extensive review and comparison of life insurance, non-life insurance and reinsurance markets throughout the world, and the financial service integration globally.

3580. Special Topics - Risk Management & Insurance (3 s.h.)

(Formerly: RSK MGT 0394.)

Special topics in current developments in the field of risk management and insurance.

3581. Field Experience in Risk Management and Insurance (3 s.h.) SS.

(Formerly: RSK MGT 0288.)

Prerequisite: RSK MGT 2101 (0001) or 2901 (0091) with a grade of B or better or an overall GPA of at least 3.0.

Students undertake a research project that integrates their current work experience with their classroom experience at Temple University. The results are reported in a paper prepared under the supervision of a faculty member.

Note: Arrangements are made through the Department of Risk Management and Insurance. This course is open to Risk Management & Insurance and Actuarial Science majors only. This course may NOT be used as a course toward the Risk Management & Insurance or Actuarial Science major.

3582. Independent Study (1 to 6 s.h.) F S SS.

(Formerly: RSK MGT 0395.)

Prerequisite: Consultation with faculty member and approval of the department chair.

Readings and/or papers under the supervision of a faculty member. Individually arranged each semester.

3682. Independent Study (1 to 6 s.h.) F S SS.

(Formerly: RSK MGT 0396.)

Prerequisite: Consultation with faculty member and approval of the department chair.

Readings and/or papers under the supervision of a faculty member. Individually arranged each semester.

3999. Honors Thesis I (1.5 s.h.)

Prerequisite: Approval of instructor, Fox School Research Scholar Director, and Fox School Honors Director.

The first of a two-part sequence of courses in which independent research is conducted under the supervision of a thesis advisor from the Risk Management & Insurance department resulting in a substantial piece of original research, roughly 30 to 50 pages in length upon completion of Risk Management & Insurance 4999. The student must publicly present his/her findings at a Temple University Research Forum session or the equivalent during one of the two semesters during which these courses are undertaken.

4596. Advanced Topics in Health and Welfare Employee Benefits (3 s.h.) F. RCI: WI.

(Formerly: RSK MGT W355.)

Prerequisite: RSK MGT 3501 (0205) with a grade of C or better.

The goals of this course are to expose students to certain advanced topics in the design of health and welfare employee benefit plans; to improve the ability of students to work in groups and teams on common projects; to improve the writing ability of students through the use of a term paper completed by each student and the completion of a case study written with a group; and to improve the oral presentation skills of students through a presentation of the results of their particular case study. We will examine several major advanced issues in the operation and design of health and welfare employee benefit plans. These include the design and use of group term and permanent life insurance products, group disability income insurance, advanced alternative funding arrangements such as experience rating and minimum premium arrangements, cafeteria and flexible benefit plans under Section 125, benefits provided under the Transportation Equity Act (TEA) and miscellaneous benefits such as leave benefits such as FMLA and PTO.

Note: This course is one of two capstone courses for Risk Management & Insurance majors.

4597. Global Corporate Risk Management (3 s.h.) F S. RCI: WI.

(Formerly: RSK MGT W359.)

Prerequisite: Completion of RSK MGT 3502 (0209) and 3504 (0329) with a grade of C or better in both and graduating senior status.

This course examines the risk management process in detail and its application in a global/international firm. It will apply principled holistic risk management (pure and speculative risk) and why organizations have risk managers. Discussion will include the administrative and strategic aspects of global corporate risk management examining how a risk manager operates within a complex organization. The application of sophisticated and cutting edge risk management tools will be discussed such as risk mapping, loss forecasting, application of total quality management principles, integrated risk financing, financial reinsurance, captives/risk retention groups, and benchmarking. The course does examine the specific issues of managing risk internationally and other pertinent issues faced by risk managers.

Note: This course is one of two capstone courses for Risk Management & Insurance majors.