Fall 2022 - ACMA 101 E100
Introduction to Insurance (3)
Class Number: 4618
Delivery Method: In Person
Overview
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Course Times + Location:
Sep 7 – Dec 6, 2022: Mon, 4:30–6:20 p.m.
BurnabySep 7 – Dec 6, 2022: Wed, 4:30–5:20 p.m.
Burnaby -
Exam Times + Location:
Oct 24, 2022
Mon, 7:00–9:00 p.m.
BurnabyDec 17, 2022
Sat, 7:00–10:00 p.m.
Burnaby
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Instructor:
Yi Lu
yilu@sfu.ca
1 778 782-7231
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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:
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 adjustmentsGrading
- 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
REQUIRED READING NOTES:
Your personalized Course Material list, including digital and physical textbooks, are available through the SFU Bookstore website by simply entering your Computing ID at: shop.sfu.ca/course-materials/my-personalized-course-materials.
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 caladmin@sfu.ca.
Tutor Requests:
Students looking for a tutor should visit https://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 website 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