FINC19019 - Insurance Planning

General Information

Unit Synopsis

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

Level Undergraduate
Unit Level 2
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites There are no pre-requisites for the 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).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2025

Term 2 - 2025 Profile
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).

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.

Assessment Tasks

Assessment Task Weighting
1. Practical Assessment 50%
2. Take Home Exam 50%

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

Past Exams

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Previous Feedback

Term 2 - 2024 : The overall satisfaction for students in the last offering of this course was 90.91% (`Agree` and `Strongly Agree` responses), based on a 35.48% response rate.

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.

Source: Student Evaluation
Feedback
There is a need for better organization of content and learning materials, with a suggestion to limit the volume of information presented on overhead slides.
Recommendation
With the prescribe textbook content replaced in T2 2023, the unit coordinator will spend time on improving the organization and volume of content.
Action Taken
Textbooks have been introduced and content from external sources have been reduced.
Source: Student Evaluation
Feedback
Students expressed a desire for more real-life examples, particularly in understanding how to complete the Insurance Needs Analysis technique, from the Sessional lecturer.
Recommendation
Coach the Sessional lecturer to provide more real-life Examples in the explanation of the Insurance Needs Analysis technique.
Action Taken
The unit coordinated with the assistance of a Sessional lecturer who is also a practicing financial adviser provided additional resources that incorporates real-life examples.
Source: Student Evaluation
Feedback
Digital Technology Issues: Technical issues were noted, such as video recordings on Moodle not functioning well on phones and tablets. Additionally, some external podcast platforms did not allow students to speed up the video.
Recommendation
Try and find podcast platforms that are more flexible with their video features to accommodate student needs where possible. Find a way for students to access video recordings using phones and tablets.
Action Taken
Only platforms that are reliable in functioning was included in the resources.
Source: Student Evaluation
Feedback
Students emphasized the importance of aligning weekly unit content with the assessment, seeking a more cohesive connection between the two.
Recommendation
Better alignment of weekly content with the Assessment will be done for future offerings.
Action Taken
Study guides were better aligned with Assessment tasks.
Source: Feedback given by the Student in the form of MyExperience responses.
Feedback
On the 22 July 2024 a student scored their satisfaction an 8 and on the 19 September 2024 another student scored their satisfaction a 9.
Recommendation
Continue to update the content and assessment tasks to keep the level of satisfaction high.
Action Taken
In Progress
Source: Self-reflection
Feedback
Usefulness of learning materials needs improving
Recommendation
Prescribed an updated Insurance Planning textbook for 2025.
Action Taken
In Progress
Source: Recommendations by CQU Learning Design & innovation team, discussions with Discipline colleagues from the Economics, Finance, Property Disciplines
Feedback
Low content engagement, especially pre-recorded content video recordings because they are considered too long by students
Recommendation
"Chunking" video recordings by topic instead of one long pre-recorded content video
Action Taken
In Progress
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 Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4
1 - Practical Assessment • • • •
2 - Take Home Exam • •
Alignment of Graduate Attributes to Learning Outcomes
• Introductory Level
• Intermediate Level
• Graduate Level
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 • • • •
Alignment of Assessment Tasks to Graduate Attributes
• Introductory Level
• Intermediate Level
• Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10
1 - Practical Assessment • • • • • • • •
2 - Take Home Exam • • • • • • •