CQUniversity Unit Profile
FINC19019 Insurance Planning
Insurance Planning
All details in this unit profile for FINC19019 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student).
The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.
General Information

Overview

This unit examines the role of insurance and risk management in client focused financial planning. You will analyse the insurance needs of clients and construct a strategic insurance and risk management plan. You will examine general and life insurance products and their suitability for a client's situation.

Details

Career Level: Undergraduate
Unit Level: Level 2
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

Pre-requisites or Co-requisites

There are no requisites for this unit.

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Offerings For Term 2 - 2019

Online

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Class and Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable

Bundaberg, Cairns, Emerald, Gladstone, Mackay, Rockhampton, Townsville
Adelaide, Brisbane, Melbourne, Perth, Sydney

Assessment Overview

1. Practical Assessment
Weighting: 50%
2. Examination
Weighting: 50%

Assessment Grading

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.

Previous Student Feedback

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback from Student evaluation survey

Feedback

Add an SOA exemplar for guidance

Recommendation

SOA exemplar will be added to the Moodle site.

Feedback from Student evaluation survey

Feedback

The assignment was very drawn out and required a lot of focus and hard work. Maybe the assignment could be split in two parts and therefore ensures students are working on it progressively.

Recommendation

Provide written timeline guidelines on work in progress through the assessment on Moodle

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Explain the principles and legal framework of the Australian insurance industry
  2. Analyse insurance needs of clients to solve risk management problems
  3. Research and select appropriate insurance products
  4. Construct strategic insurance and risk management plan.
Alignment of Learning Outcomes, Assessment and Graduate Attributes
N/A Level
Introductory Level
Intermediate Level
Graduate Level
Professional Level
Advanced Level

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4
1 - Practical Assessment - 50%
2 - Examination - 50%

Alignment of Graduate Attributes to Learning Outcomes

Graduate Attributes Learning Outcomes
1 2 3 4
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
5 - Team Work
6 - Information Technology Competence
7 - Cross Cultural Competence
8 - Ethical practice
9 - Social Innovation
10 - Aboriginal and Torres Strait Islander Cultures

Alignment of Assessment Tasks to Graduate Attributes

Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10
1 - Practical Assessment - 50%
2 - Examination - 50%
Textbooks and Resources

Textbooks

Prescribed

Insurance and Risk Management

Edition: Third (2016)
Authors: Teale, John
Self-publishing by John Teale
Armidale Armidale , NSW , Australia
ISBN: 978-0-646-95447-9
Binding: Paperback

Additional Textbook Information

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • XPlan Software (Optional)
Referencing Style

All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)

For further information, see the Assessment Tasks.

Teaching Contacts
Angelique Mcinnes Unit Coordinator
a.mcinnes@cqu.edu.au
Schedule
Week 1 Begin Date: 15 Jul 2019

Module/Topic

Introduction and the nature of risk management

Chapter

1 and 2

Events and Submissions/Topic

Refer to Week 1 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 2 Begin Date: 22 Jul 2019

Module/Topic

Insurance and risk

Chapter

3

Events and Submissions/Topic

Refer to Week 2 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 3 Begin Date: 29 Jul 2019

Module/Topic

Regulation and compliance

Chapter

4

Events and Submissions/Topic

Refer to Week 3 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 4 Begin Date: 05 Aug 2019

Module/Topic

Concepts underlying insurance law

Chapter

5

Events and Submissions/Topic

Refer to Week 4 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 5 Begin Date: 12 Aug 2019

Module/Topic

Understanding insurance contracts and claims

Chapter

6 and 7

Events and Submissions/Topic

Refer to Week 5 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Vacation Week Begin Date: 19 Aug 2019

Module/Topic

Vacation

Chapter

1-7

Events and Submissions/Topic

  • Revising Weeks 1 to 5
  • Assessment completion
  • Catching up incomplete Modules from Weeks 1 to 5
Week 6 Begin Date: 26 Aug 2019

Module/Topic

Introduction to life insurance

Chapter

8

Events and Submissions/Topic

Refer to Week 6 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 7 Begin Date: 02 Sep 2019

Module/Topic

 Life insurance products

Chapter

 12

Events and Submissions/Topic

Refer to Week 7 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 8 Begin Date: 09 Sep 2019

Module/Topic

Introduction to general insurance and general insurance products

Chapter

9 and 13

Events and Submissions/Topic

Refer to Week 8 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 9 Begin Date: 16 Sep 2019

Module/Topic

Taxation

Chapter

10

Events and Submissions/Topic

Refer to Week 9 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations

Insurance Statement of Advice Due: Week 9 Friday (20 Sept 2019) 8:00 pm AEST
Week 10 Begin Date: 23 Sep 2019

Module/Topic

Personal risk management

Chapter

11

Events and Submissions/Topic

Refer to Week 10 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 11 Begin Date: 30 Sep 2019

Module/Topic

Mandated and health insurance

Chapter

14

Events and Submissions/Topic

Refer to Week 11 in Moodle for:

  • Chapter_Overheads
  • Study Guide
  • Chapter_Solutions
  • Online presentations
Week 12 Begin Date: 07 Oct 2019

Module/Topic

Revision, Exam Preparation and "Have Your Say" Survey

Chapter

1-14

Events and Submissions/Topic

  • Continue revising Weeks 1 to 5
  • Revising Weeks 6 to 11
  • Exam preparation, including referring to Previous Exam Papers
  • Complete "Have Your Say" Survey
Review/Exam Week Begin Date: 14 Oct 2019

Module/Topic

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 21 Oct 2019

Module/Topic

Chapter

Events and Submissions/Topic

Term Specific Information

Refer to the following Modules on Moodle:

  • "Engagement with Peers and Lecturers" for details of how to engage and ask for clarification on any of the unit content and assessments
  • "Orientation" to welcome you and provide details on the expectations, prescribed textbook/s and preparation materials before we start the unit
  • "Statement of Sustainable Development" to identify and understand the sustainable development goals of this unit
  • "Zoom Schedule and Recording" for a schedule of virtual online live face to face sessions
  • "Assessments and Exams" to access details of your assessments and exams, together with any supporting assessment documents, podcasts, apps, calculators and tools.
  • "Industry Engagement" to access additional interesting and helpful webinars, podcasts, blogs and reports sourced from the Financial Services Industry.

Assessment Tasks

1 Practical Assessment

Assessment Title
Insurance Statement of Advice

Task Description

This is an individual assessment.


Important detailed information for your assessment is on the Moodle site in the "Assessments and Exams" Module.


Before you begin the assessment please download and read the:

  1. instructions for completing and submitting your assessment [File 1].
  2. case study background information and completed Fact Find [File 2].
  3. Statement of Advice template [File 3].
Please download all three files relating to this Assessment requirements from Moodle and read these long documents carefully.


Your task is to:

  • Read the instructions document provided for this case study assessment.
  • Identify the client's goals, objectives, needs and financial situation by reviewing the background information and completed Fact Find document.
  • Prepare a written Statement of Advice document from the information provided in the completed Fact Find using the template provided.

From the above task, it is clear this is a practical assessment dealing with a real world financial planning client/s insurance need.

You will have access to financial planning software XPlan (optional), Microsoft-Excel and/or related software [which we will make available to you via Moodle] to complete the assessment.

Please start this assessment as soon as possible, because for some of you it will require learning numerous new skills. Learning how to use new software [for instance, XPlan if you choose to use it] may need sometime and practice.

Your lecturer and peers are available via Moodle Discussion and Q&A forums to address any unit content or assessment matter. Email your lecturer directly to address any personal concerns or difficulties that cannot be shared with your peers during the term.


Assessment Due Date

Week 9 Friday (20 Sept 2019) 8:00 pm AEST

Upload only one Microsoft-Word Statement of Advice document file. No additional documents submitted will be graded.


Return Date to Students

Week 10 Friday (27 Sept 2019)

Feedback will be provided in the Statement of Advice document via Moodle.


Weighting
50%

Assessment Criteria

Find a comprehensive marking criteria sheet in the instructions file of the assessment on Moodle in the "Assessments and Exams" Module.

We award marks for Statement of Advice completion using the Microsoft-Word template provided.


Referencing Style

Submission
Online

Submission Instructions
Please submit one Statement of Advice file via Moodle as per the assessment instructions

Learning Outcomes Assessed
  • Analyse insurance needs of clients to solve risk management problems
  • Research and select appropriate insurance products
  • Construct strategic insurance and risk management plan.


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking
  • Information Literacy
  • Team Work
  • Information Technology Competence
  • Cross Cultural Competence
  • Ethical practice

Examination

Outline
Complete an invigilated examination

Date
During the examination period at a CQUniversity examination centre

Weighting
50%

Length
180 minutes

Exam Conditions
Closed Book

Materials
Calculator - all non-communicable calculators, including scientific, programmable and graphics calculators are authorised
Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
Academic Integrity Statement

As a CQUniversity student you are expected to act honestly in all aspects of your academic work.

Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.

When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.

Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.

As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.

What is a breach of academic integrity?

A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.

Why is academic integrity important?

A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.

Where can I get assistance?

For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.

What can you do to act with integrity?