Fall 2021 - ACMA 101 E100

Introduction to Insurance (3)

Class Number: 5034

Delivery Method: In Person

Overview

  • Course Times + Location:

    Mo 4:30 PM – 6:20 PM
    REMOTE LEARNING, Burnaby

    We 4:30 PM – 5:20 PM
    REMOTE LEARNING, Burnaby

  • Exam Times + Location:

    Dec 18, 2021
    7:00 PM – 10:00 PM
    REMOTE LEARNING, Burnaby

  • Corequisites:

    MATH 150, 151, 154 or 157.

Description

CALENDAR DESCRIPTION:

General overview of universally useful concepts in insurance, pensions and financial management. Typical life, health and property & casualty insurance products; underwriting; pricing; reserving; regulation; social insurance; retirement plans and annuities; financial planning: mortgages, loans, wealth management. Quantitative/Breadth-Science.

COURSE DETAILS:

COURSE DETAILS:

This course is an introduction to insurance products and financial planning. The topics covered include

Introduction: insurance, interest rates, valuing cash flows, determinants of interest rates

Life Insurance: actuarial fundamentals, mortality tables, pricing, premium calculations for life insurance products (term, whole-life, endowment, life annuities), universal life insurance, underwriting

Health insurance: individual versus group coverage, health benefits in Canada, private medical plans, coverage modifications (deductible, coinsurance, policy limit), pricing

Retirement income arrangement: government-administered pension programs, employer-sponsored retirement income plans (defined contribution, defined benefit, combinations), principal provisions

Property & Casualty insurance: frequency and severity, car insurance (coverage, risk classification, experience ratings), home insurance (coverage, types of policies), workers' compensation

Personal financial planning: personal loans, mortgages, role of insurance in personal financial planning

The topics covered by this course are subject to some adjustments.

MODE OF TEACHING:

  • Lecture: Synchronous/Asynchronous
  • Tutorial: Synchronous
  • Quizzes and Midterm: Synchronous; Date: TBA
  • Final exam: Synchronous; date: TBA
  • Remote invigilation (Zoom, or other approved software) will be used.

Grading

  • Assignments 20%
  • Midterm 30%
  • Final Exam 50%

NOTES:

All above grading is subject to change

Materials

RECOMMENDED READING:

  • Life Insurance by K. Black and H. Skipper, Prentice-Hall
  • Morneau Shepell Handbook of Canadian Pension and Benefit Plans by Morneau Shepell.
  • Group Insurance by W.F. Bluhm, ACTEX Publications       
  • Insurance Operations Edited by Susan Kearney, The Institutes       
  • Survey of Personal Insurance and Financial Planning, Edited by Mary Ann Cook, The Institutes       
  • Survey of Commercial Insurance, Edited by Arthur Flitner, The Institutes

Department Undergraduate Notes:

Students with Disabilities:
Students requiring accommodations as a result of disability must contact the Centre for Accessible Learning 778-782-3112 or csdo@sfu.ca


Tutor Requests:
Students looking for a tutor should visit hhttps://www.sfu.ca/stat-actsci/all-students/other-resources/tutoring.html. We accept no responsibility for the consequences of any actions taken related to tutors.

Registrar Notes:

ACADEMIC INTEGRITY: YOUR WORK, YOUR SUCCESS

SFU’s Academic Integrity web site http://www.sfu.ca/students/academicintegrity.html is filled with information on what is meant by academic dishonesty, where you can find resources to help with your studies and the consequences of cheating.  Check out the site for more information and videos that help explain the issues in plain English.

Each student is responsible for his or her conduct as it affects the University community.  Academic dishonesty, in whatever form, is ultimately destructive of the values of the University. Furthermore, it is unfair and discouraging to the majority of students who pursue their studies honestly. Scholarly integrity is required of all members of the University. http://www.sfu.ca/policies/gazette/student/s10-01.html

TEACHING AT SFU IN FALL 2021

Teaching at SFU in fall 2021 will involve primarily in-person instruction, with approximately 70 to 80 per cent of classes in person/on campus, with safety plans in place.  Whether your course will be in-person or through remote methods will be clearly identified in the schedule of classes.  You will also know at enrollment whether remote course components will be “live” (synchronous) or at your own pace (asynchronous).

Enrolling in a course acknowledges that you are able to attend in whatever format is required.  You should not enroll in a course that is in-person if you are not able to return to campus, and should be aware that remote study may entail different modes of learning, interaction with your instructor, and ways of getting feedback on your work than may be the case for in-person classes.

Students with hidden or visible disabilities who may need class or exam accommodations, including in the context of remote learning, are advised to register with the SFU Centre for Accessible Learning (caladmin@sfu.ca or 778-782-3112) as early as possible in order to prepare for the fall 2021 term.