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Business, Bachelor of Science (B.S.) with a concentration in risk management and insurance/financial planning

Special requirements

The foundation program specifies course work required during the freshman and sophomore years. Students are eligible for admission into the advanced business program with a major in the School of Business upon meeting the minimum cumulative GPA requirement and successful completion of:

  • A minimum of 54 credits in the foundation program
  • ACCT 203 and 204 Introduction to Accounting I and II
  • BUSN 201 and 202 Foundations of Business I and II
  • BUSN 225 Winning Presentations
  • ECON 210 Principles of Microeconomics
  • ECON 211 Principles of Macroeconomics
  • INFO 160, 161, 162 and 165
  • SCMA 212 Differential Calculus and Optimization for Business (or MATH 200 Calculus with Analytic Geometry )
  • UNIV 111 and 112 Focused Inquiry I and II, and UNIV 200 Inquiry and the Craft of Argument (with a minimum grade of C in UNIV 112 and 200)

The admission requirements for the School of Business detail the deadlines for students to be admitted to the advanced business program with a major in the school. At least 30 hours of the required business courses for the Bachelor of Science must be taken at VCU.

Students may need to take additional mathematics courses as prerequisites to SCMA 212 or MATH 200. These credits will count as electives in the foundation program. The sample curriculum outline includes SCMA 171 since many of our students will need to complete this course.

The INFO 160, 161, 162 and 165 requirements may be waived upon successful completion of a Knowledge Equivalency Test administered by the Office of Undergraduate Studies. No more than two additional credits may be applied to the degree from the INFO 16x series.

No more than four credits in physical education courses may be applied to the degree.

PSYC 214 and INTL 493 may not be counted toward a business degree.

Students must receive a minimum grade of C in FIRE 309, FIRE 449 and FIRE 479 and must have a minimum GPA of 2.0 in the remainder of the finance concentration requirements.

The concentration in risk management and insurance prepares students for careers in the insurance industry on all levels including (but not limited to) underwriting, claims adjusting, employee benefits, risk modeling and analysis, risk management in all sectors of the economy, financial planning, and graduate-level study of risk management.

Learning goals

The goal of the risk management and insurance concentration is provide students with skills in financial management, risk management and financial planning. Graduates will be able to analyze and communicate findings on complex financial issues.

Degree requirements for Business, Bachelor of Science (B.S.) with a concentration in risk management and insurance/financial planning

Learning outcomes

Upon completing this program:

  • Students will be able to identify risks, measure them and find mitigating solutions using all financial hedging instruments and insurance. The students will use relevant data to measure risks and solutions including design risk/awards and forecasting, loss reserves, frequency and severity. The students will be using appropriate quantitative measures for making informed risk management decisions as well as financial plans.
  • The students will learn how to interpret data and apply the analysis and design they create to various situations.
  • Students will be able to express the analytic, quantitative and ethical dimensions of risks and risk management of firms. Written and verbal communication are stressed in the RMI classes continually and match the analytical and syntheses capabilities. The students learn to create outlines and position the projects with articulation and clarity in mind. This is present throughout all the RMI classes. Students will be able to identify and analyze ethical dimensions of every element in the RMI education. The students will understand and articulate their fiduciary responsibility in each topic and each scenario.
  • Students will develop a global perspective in their courses and especially in the final class (FIRE 479). The global RMI and enterprise risk management are stressed on all levels — the firms themselves, the products, the instruments, the coverages, the regulation and the challenges, especially in the era of systemic risk and financial stability on global levels for multinational firms.
  • Students in the RMI/financial planning concentration will develop in-depth knowledge and skills in the personal aspects of RMI while covering corporate RMI in less depth. The skills and emphasis will be in the area of financial planning solutions for life cycle risks with added knowledge in financial investing decisions for retirement, taxation and estate planning. The students learn to use financial models for personal RMI solutions.
Business Foundation (63 credits) Credits
   
General Education Requirements  
University Core Education Curriculum (minimum 21 credits)
UNIV 111 Focused Inquiry I 3
UNIV 112 Focused Inquiry II 3
UNIV 200 Inquiry and the Craft of Argument 3
Approved humanities/fine arts 3
Approved natural/physical sciences 3-4
Approved quantitative literacy (MATH 200 Calculus with Analytic Geometry or SCMA 212 Differential Calculus and Optimization for Business) 3-4
Approved social/behavioral sciences 3-4
   
Business General Education requirement (16 credits)  
BUSN 225 Winning Presentations 3
ECON 210 Principles of Microeconomics 3
ECON 211 Principles of Macroeconomics 3
INFO 160 Digital Literacy: Computer Concepts, Internet, Digital Devices 1
INFO 161 Digital Literacy: Word Processing Skills I 1
INFO 162 Digital Literacy: Spreadsheets Skills I 1
INFO 165 Digital Literacy: Spreadsheet Skills II 1
Business General Education elective (Select credits from the approved list.) 3
   
Additional Business Foundation requirements (23-26 credits)  
ACCT 203 and 204 Introduction to Accounting I and II 6
BUSN 201 and 202 Foundations of Business I and II 6
SCMA 302 Business Statistics II 3
Open electives 8-11
   
Advanced business program (57 credits)  
Advanced business core (33 credits)  
FIRE 311 Financial Management 3
FIRE 312 Financial Modeling 3
FIRE 317 Investments 3
FIRE 459 Insurance Law 3
INFO 360 Introduction to Business Information Systems 3
MGMT 310 Managing People in Organizations 3
MGMT 319 Organizational Behavior or SCMA 329 Introduction to Intercultural Communication 3
MGMT 434 Strategic Management (capstone) 3
MKTG 301 Marketing Principles 3
SCMA 301 Business Statistics I 3
SCMA 325 Organizational Communication 3
Major requirements (24 credits)  
ACCT 405 Tax Accounting Principles 3
FIRE 309 Risk and Insurance or FIRE 419 Advanced Risk and Insurance 3
FIRE 417 Security Analysis and Portfolio Management 3
FIRE 439 Life and Health Insurance 3
FIRE 449 Employee Benefit Planning 3
FIRE 479 Managing Financial Risk 3
Approved RMI/financial planning concentration electives 6
   
Total minimum requirement 120

Business general education electives

Additional University Core Education Curriculum approved courses
Any AFAM, ANTH, ANTZ, ARTH, BIOL, BIOZ, CHEM, CHEZ, CRJS, DANC, ENGL, ENVS, FRSC, FRSZ, GEOG, GEOZ, HIST, INNO, INSC, INTL (except INTL 493), MASC, MATH, PHIL, PHYS, PHYZ, POLI, PSYC (except PSYC 214), RELS, SOCS, SOCY, USRP or WRLD course
Any foreign language course
Any honors-designated course taught outside of the School of Business
Any of the following UNIV courses:
UNIV 211 Food for Thought
UNIV 213 The Truth about Lying
UNIV 217 Finding Your Voice in Contemporary Society
UNIV 222 Pseudoscience
UNIV 299 What’s the Big Idea?

Approved risk management and insurance/financial planning electives

ACCT 303 Intermediate Accounting I
ACCT 410 Advanced Tax Accounting
BUSN 400 Principles of Consulting and BUSN 401 International Consulting Practicum (must get credit for both courses to count toward degree completion)
ECON 402 Business Cycles and Forecasting
FIRE 316 International Financial Management
FIRE 329 E-business Risk Management
FIRE 359 Issues in Risk Management and Insurance
FIRE 429 Property and Liability Insurance
FIRE 451 Options, Futures and Swaps
FIRE 469 Advanced Property/Casualty Insurance: Alternative Markets
FIRE 491 Topics in Finance, Insurance and Real Estate
FIRE 492 Independent Study in Finance, Insurance and Real Estate
FIRE 493 Internship in Finance, Insurance and Real Estate
MKTG 315 Buyer Behaviors
MKTG 335 Introduction to Personal Selling
MKTG 442 Services Marketing

Click here to download a sample outline. [PDF]

 

 

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Last update: 6/10/2014

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