Insurance & Financial Services Center

The College of Business and Public Administration at ODU offers three choices for the Finance (Financial Management) major:

Ø      General Finance

Ø      Real Estate

Ø      Insurance and Financial Services

The Insurance and Financial Services track prepares undergraduate students for careers in insurance, risk management, employee benefits, financial planning, and other financial services. Students can also choose to minor in this area.

For students entering ODU in 2008-2009, this track consists of the following, For other years, check the appropriate catalog for those years.

Finance major, Insurance and Financial Services track course work

Required Courses:

BUSN 135 Introduction to Productivity Software (1)

FIN 317 Principles of Insurance and Risk Management (3)

FIN 435 International Financial Management (3)

FIN 413 Risk Analysis and Control (3)

FIN 443 Seminar in Insurance and Risk Management (3)

Free electives (6)

Major electives (12)

12 hours from FIN 367, 368, 369, 410, 411, 412, 431, 433, 434, ACCT 421

200-400 level business elective (3)

Can be any 200-400 level 3-credit course, except ECON 200S, offered by the College of Business and Public Administration, providing that the student has the appropriate prerequisites

300-400 level business elective (3)

Can be any 200-400 level 3-credit course offered by the College of Business and Public Administration, providing that the student has the appropriate prerequisites

Courses included in the calculation of the 2.00 overall grade point average for

major course work for graduation are: FIN 317, 413, 435, 443, and 12 hours of

FIN electives.

Insurance and Financial Services minor course work

A minor in insurance and financial services requires the completion of FIN 317, 413, 443, and six hours from FIN 410, 411, 412, and 431. For completion of a minor, the student must achieve a minimum overall cumulative grade point average of 2.00 in all finance courses required or allowed toward the minor exclusive of prerequisite courses and complete a minimum of six hours in upper-level courses in the minor requirement through courses offered by Old Dominion University.

Course Descriptions

FIN317 : Principles of Insurance and Risk Management. (Spring and Fall)
Lecture and discussion 3 hours; 3 credits. Prerequisite: junior standing or permission of the chief departmental advisor. Recommended elective for nonbusiness as well as business majors. The primary focus of this introductory course is on evaluating life, health, retirement, property, liability, and personnel exposures to loss and analyzing the methods for managing these risks. Risk management and insurance techniques for dealing with potential losses to individuals and organizations will be emphasized.

FIN367. Cooperative Education. (Spring, Summer, Fall)

1-3 credits (may be repeated for credit). Prerequisite: approval by the department and Career Management in accordance with the policy for granting credit for Cooperative Education programs and junior standing. Available for pass/fail grading only. (qualifies as a CAP experience)

FIN368. Finance, Real Estate or Insurance Internship. (Spring, Summer, Fall)

1-3 credits. Prerequisite: junior standing; a transfer student must have completed one semester at Old Dominion University. Student participation in a professional work experience. Approval for enrollment and allowable credits is determined by the Finance CAP advisor and the Career Management Center in the semester prior to enrollment. (qualifies as a CAP experience)

FIN369. Finance, Real Estate or Insurance Practicum. (Spring, Summer, Fall)

1-3 credits. Prerequisites: junior standing or permission of the chief departmental advisor; a transfer student must have completed one semester at Old Dominion University. A faculty supervised, professionally oriented project. Approval for enrollment and allowable credits is determined by the Finance CAP advisor. (qualifies as a CAP experience)

FIN410 : Life and Health Insurance. (Spring)
Lecture 3 hours; 3 credits. Prerequisite: FIN 317 or equivalent and junior standing or permission of the chief departmental advisor. This course uses a broad-based financial planning approach in considering the nature and importance of individual life and health risks and uses of individual life and health insurance in treating these risks.The implications of various legal, tax, and accounting considerations on businesses and individuals are discussed. The course also provides an overview of the operational aspects of life insurers, including organization, underwriting, actuarial, reassurance, marketing, investment, taxation, and accounting functions. Cases are employed.

FIN411 : Employee Benefit Planning. (Fall)
Lecture 3 hours; 3 credits. Prerequisite: FIN 317 or equivalent and junior standing or permission of the chief departmental advisor. This course considers the ability of group insurance and other private going mechanisms to alleviate the financial problems arising from death, disability, medical treatment and retirement. Primary emphasis on design, tax and administrative characteristics as they relate to employer-sponsored benefit programs.

FIN412 : Property Liability Insurance and Risk Management. (Fall)
Lecture 3 hours; 3 credits. Prerequisite: FIN 317 or equivalent and junior standing or permission of the chief departmental advisor. The course provides a broad overview of the operational activities and current problems of property and liability insurance companies, including organization, regulation, pricing, underwriting, claims, reinsurance, marketing, investment, and accounting functions. Through course projects, students will also investigate the major commercial property and liability exposures, including emerging exposures, and the risk transfer of these exposures through insurance.

FIN413 : Risk Analysis and Control. (Spring)
Lecture 3 hours; 3 credits. Prerequisite: FIN 317 or equivalent and junior standing or permission of the chief departmental advisor. Recommended elective for nonbusiness as well as business majors. This course focuses on the risk analysis and control phases of the risk management in the business and governmental organizations. Particular attention is paid to the recognition, measurement, and treatment of pure risks, risk financing options other than commercial insurance, and decision making under conditions of uncertainty. Cases and computer analyses are employed.

FIN431 : Investments. (Spring, Summer, Fall)
Lecture and discussion 3 hours; 3 credits. Prerequisite: FIN 323 with a grade C or better and junior standing. This course develops the financial tools and knowledge needed to select among alternative financial assets. The emphasis is on the individual investor. Real world experience includes stock analysis, portfolio simulations and interactions with professional in the securities industry. (qualifies as guaranteed practicum experience).

FIN 433. Introduction to Futures and Options.

Lecture and discussion 3 hours; 3 credits. Prerequisites: FIN 323 with a grade of C or better and 431 and junior standing. An introduction to the understanding of futures and options. Basic features and trading mechanisms; valuation of financial derivatives; methods of managing financial risk; arbitrage techniques; and speculation strategies.

FIN434 : Management of Financial Institutions (Spring, Fall)
Lecture and discussion 3 hours; 3 credits. Prerequisite: FIN 323 with a grade C or better and junior standing. A examination of the objectives, functions, policies, organizations practices and government regulations of financial institutions.

FIN435: International Financial Management (Spring, Summer, Fall)

Lecture and discussion 3 hours; 3 credits. Prerequisites: FIN 323 with a grade of C or better and junior standing or permission of the chief departmental advisor. Financial decision making involving flow and funds across national boundaries

FIN443 : Seminar in Insurance and Risk Management (Spring)
Lecture 3 hours; 3 credits. Prerequisite: FIN 317 and at least two courses from 410, 411, 412, and 413. This course is designed as a capstone course for students concentrating in risk management and insurance. The class will read and discuss recent works concerning advanced topics in risk management and insurance. Additionally, students will work individually and in groups on projects and presentations related to current risk management and insurance problems of national and international significance.

ACCT 311. Managerial Accounting.

Lecture 3 hours; 3 credits. Prerequisites: ACCT 201-202 or 226-227, DSCI 206. Students must have a C or better in ACCT 311 to graduate with a concentration in accounting. This course focuses on recording and allocating costs within traditional managerial accounting systems. Common and joint cost allocations are performed under job order, process and standard costing systems. Income models are developed for exploring cost-volume-profit relationships.

ACCT 421: Taxation. (Spring, Summer, Fall)

Lecture 3 hours; 3 credits. Prerequisites: ACCT 201 or 226, ACCT 202 or 227 or ACCT 601, and junior standing or permission of the chief departmental advisor. Students must have a C- or better in ACCT 421 to graduate with a concentration in accounting. An analysis of federal income tax law and its application to personal and business tax situations. Reconciliation of tax and accounting concepts.

BUSN 135. Introduction to Office Productivity Software.

Lecture 1 hour; 1 credit. Introduces and provides hands-on experience in office productivity software used for word processing, spreadsheet, and presentation.