Fall 2025 - RISK 101 D100
Introduction to Insurance (3)
Class Number: 7036
Delivery Method: In Person
Overview
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Course Times + Location:
Sep 3 – Dec 2, 2025: Mon, 2:30–4:20 p.m.
BurnabySep 3 – Dec 2, 2025: Wed, 2:30–3:20 p.m.
Burnaby -
Exam Times + Location:
Dec 6, 2025
Sat, 8:30–11:30 a.m.
Burnaby
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Instructor:
Cherie Ng
cherien@sfu.ca
1 778 782-8004
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. Students with credit for ACMA 101 may not take this course for further credit. Quantitative/Breadth-Science.
COURSE DETAILS:
This course is an introduction to insurance products and financial planning. The topics covered include
Introduction: insurance concepts, time value of money, probability, expected value and standard deviation
Property & Casualty insurance: frequency and severity, car insurance (coverage, risk classification, experience ratings), home insurance (coverage, types of policies)
Health insurance: individual versus group coverage, health benefits in Canada, private medical plans, coverage modifications (deductible, coinsurance, policy limit), pricing
Life Insurance: actuarial fundamentals, mortality tables, pricing, premium calculations for life insurance products (term, whole-life, endowment, life annuities), underwriting
Retirement income arrangement: government-administered pension programs, employer-sponsored retirement income plans (defined contribution, defined benefit, combinations)
The topics covered by this course are subject to some adjustments.
This course is part of the University Accreditation Program and meets specific requirements set by the Canadian Institute of Actuaries (CIA). Please consult the CIA website for full details on CIA accreditation.
Grading
- Assignments 20%
- Exam 1 35%
- Exam 2 45%
NOTES:
All above grading is subject to change
Materials
RECOMMENDED READING:
- Introduction to Ratemaking and Loss Reserving for Property and Casualty Insurance, 5th by R. Brown and W. S. Lennox, ACTEX Publications
- Life Insurance by K. Black and H. Skipper, Prentice-Hall
- Morneau Shepell Handbook of Canadian Pension and Benefit Plans by Morneau Shepell.
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.
Registrar Notes:
ACADEMIC INTEGRITY: YOUR WORK, YOUR SUCCESS
At SFU, you are expected to act honestly and responsibly in all your academic work. Cheating, plagiarism, or any other form of academic dishonesty harms your own learning, undermines the efforts of your classmates who pursue their studies honestly, and goes against the core values of the university.
To learn more about the academic disciplinary process and relevant academic supports, visit:
- SFU’s Academic Integrity Policy: S10-01 Policy
- SFU’s Academic Integrity website, which includes helpful videos and tips in plain language: Academic Integrity at SFU
RELIGIOUS ACCOMMODATION
Students with a faith background who may need accommodations during the term are encouraged to assess their needs as soon as possible and review the Multifaith religious accommodations website. The page outlines ways they begin working toward an accommodation and ensure solutions can be reached in a timely fashion.