James Cook University Subject Handbook - 2024

BX3035 - Risk Management and Insurance

Subject Description

This unit provides students with a comprehensive and critical overview of issues relating to risk management and insurance including, how to plan, recommend and implement client wealth protection strategies and advice. To plan for wealth protection, students will learn to assess the various risks clients are exposed to and calculate the appropriate level of insurance cover to minimise those risks. Given the important connection between life insurance and estate planning, the final component of this unit addresses life insurance from an estate planning and succession planning perspective. Via workshops and exploration of real-world case scenarios, students will integrate risk management methods and build knowledge about specific insurance policies and product, and the implications of taxation. The deliverables in this unit reflect processes and procedures used in professional financial planning practice and are designed to meet the Financial Advising Standards and Ethics Authority (FASEA) education requirements.

Learning Outcomes

• identify and communicate effective strategies for the management of risk in a variety of financial contexts
• apply professional skills and knowledge in the management and communication of recommendations in a client-advisor relationship
• design and evaluate relevant risk assessment strategies and opportunities in the risk management and insurance financial advice context
• describe current taxation issues and legal requirements governing the provision of risk management and insurance

Subject Assessment

• Written > Examination (centrally administered) - (55%) - Individual
• Written > Test/Quiz 1 - (15%) - Individual
• Written > Case study analysis - (30%) - Individual

Note that minor variations might occur due to the continuous subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.

Availabilities