FINC 3351 600 Insurance and Risk Management, Spring 2024, CRN: 22890

Department of Accounting and Finance, College of Business

Course Syllabus
Class Meeting Time and Place: Online - Asynchronous
Class Duration: 01/16/2024-05/07/2024
Instructor: Dr. Keming Li
Office: BLH 441J
Tel: 210-784-2326
E-Mail: kli@tamusa.edu
Course Website: https://tamusa.blackboard.com/
Office Hours: Tuesday 9:00 am - 11:00 am (WebEx:
https://tamusa.webex.com/join/keming.li)
Thursday 9:00 am - 11:00 am (WebEx:
https://tamusa.webex.com/join/keming.li), and by appointment.

Catalog Course Description: Principles and practices of risk management and insurance. Property and
casualty insurance, fire insurance, consequential loss, transportation insurance, automobile insurance,
crime insurance and disaster insurance. Individual life insurance, annuities and health insurance products
with emphasis on policy coverage.

Course Objectives: The goals of the course are to help students become more knowledgeable and
efficient consumers of both personal and business insurance. I want every student to develop enough
knowledge to gauge whether or not they would like to pursue insurance and risk management as a career
choice. To that end the course is also designed to provide a solid foundation for further study in
insurance and risk management.

Student Learning Outcomes:

Students who successfully complete this course will be able to:

1. Define the various types of risk and explain the basic characteristics of a variety of insurance
policies.
2. Understand the risk management process, including identifying, eliminating, reducing, and
transferring the risks.
3. Explain the major reasons why insurers are regulated and explain the fundamental legalprinciples
that are reflected in insurance contracts.
4. Identify the basic parts of contracts.
5. Describe the characteristics of Employee Benefits (e.g. Group Life and Health, Retirement
Plans).
6. Understand annuities and individual retirement accounts.
7. Describe the characteristics of homeowners and auto insurance.
8. Describe the characteristics of individual life and health insurance.

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 9. Describe the characteristics commercial property and commercial liability insurance.
AACSB Assessment:
The College of Business is in the process of applying for AACSB accreditation. As part of that process,
students will be assessed on program level outcomes based on course outcomes from various courses.
The materials from this course may be used for assessing such program level outcomes, and hence
students must follow the necessary rigor to ensure mastery of the above course outcomes.

Required Materials:
 Text: Principles of Insurance and Risk Management, 14th Edition, by George E. Rejda and
Michael McNamara. This book is a custom ebook available as an e-book. The e-book is
available in Blackboard. The course will consist primarily of lectures, quizzes, and exams.
 Calculator: A financial calculator with the following function keys (N, I, PV, PMT, FV, IRR,
and CF) is required for the course. For example Texas Instruments (TI) BA II Plus (or
Equivalent).
 Blackboard: Connect to http://tamusa.blackboard.com. User ID is the K Number (K00001234).
Password is the Date of Birth (MMDDYY). You will have copies of power point slides and other
supplementary materials available in the content section of Blackboard.

Other Recommended / Reading Materials: Students should keep current with various business news
through such publications as the Wall Street Journal, The Economist, and various news programs. The
latter would include Fox Business News, Bloomberg TV, and the nightly business report on NPR.

Course Requirements every student must fulfill in order to succeed in course:

Demonstrate an understanding of the framework used to link the economic characteristics and strategies of
a firm, its financial statements, and assess a firm’s current and forecasted profitability and risks. Explain
the relationship between risk and returns.

1. Students should check the Course Calendar, Announcements, and Messages (e-mail) systems in Blackboard
on a regular basis.
2. Students should keep current with all course quizzes and examinations.
3. If the course uses remote proctoring for exams, students must schedule their exam early in the semester.
4. Students should ask questions and communicate with the instructor either in class, online, off-line or during
office hours.
5. For all exams, quizzes etc., if a student is completing it off-campus, then they are responsible for availability
of internet connectivity. Extensions will not be granted for lack of availability of internet connections.
6. Students should remember that hybrid and Online courses assume greater responsibility and independent
learning skills by the student for their own learning outcomes.
7. For Online courses, students are not required to come to class, even for proctored examinations.
a. The instructor can require students to physically sit for an examination in a proctored environment at
the facilities of university testing services – setup of exam is responsibility of the student.
b. The instructor can require students to take examinations using proctoring software as indicated in the
Proctored Exams section.
c. The instructor decides which type of examination works best for the class and the student must
comply with their instructions – as long as they are not required to take an in-class examination, or
are required to take the examination at one specific time that applies to all students. In other words,

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 the instructor will offer the student some flexibility on test location and the time to sit for the
examination. Instructors should allow 72 hours for students to complete any examination.

Grading Policy: The final course grade will be based on your performance on the exams, assignments
and class participation using the following weights:
Quizzes 20%
2 Mid-term Exams 25% per exam
Final Exam (as per University Schedule) 30%
Total 100%
The final letter grades will be assigned as follows: Above 90%  A; 80 – 89%  B; 70 – 79%  C; 60
– 69%  D; Below 60%  F.
Examinations and Quizzes: There will be a mandatory mid-term exams and a mandatory final exam
(as per university schedule). Being absent for an exam will result in a grade of zero for that exam and
may result in a fail grade in the course. The exams/quizzes will consist of conceptual multiple-choice
questions, problem solving questions, and short essay questions. The exam/quiz materials will come
from lecture notes, the text, and class discussions. Questions will emphasize understanding and
applications of concepts and topics covered in class.

Assignments: Individual assignment statements and due dates will be posted through Blackboard. For
all assignment, ALL intermediate work of the problem solution steps MUST be shown. This includes
the use of the formula, the values substituted in the formulas for problem solution, as well the
intermediate steps of the arithmetic computation. The units of measurement are extremely important and
MUST be shown at each stage of the computation. Considerable points will be taken off for not
following these requirements.

Make up and Late Assignment/exam/quiz policy: As a general rule, make-ups or late submissions
will NOT be offered or accepted for any missed assignments/exams/quizzes. Late submissions or make-
ups may be accepted/administered only in extra-ordinary circumstances such as an excused official
university activity, a severe illness, or a dire emergency. However, you must provide comprehensive
documentation either before or within a few days of the missed assignment/quiz/exam.

Class conduct and civility code: Everyone in class is expected to follow all rules in the student
handbook, as well as common courtesy during classroom lectures and discussions in class and online,
including the following:
1. Attendance may be taken at the beginning or the end of the class.
2. It is the students’ responsibility to obtain and be able to use the required materials and software
for this class.
3. Student must retain copies of all assignments and graded work for verification purposes. Keep
copies of all computer files and e-mails.
4. Talking while the instructor is lecturing is extremely disruptive and discourteous to the instructor
and other students.
5. Using computers or phones (except for a valid urgent need) during class for a purpose not related
to class is disruptive. All cell phones and gadgets should be turned off and headphones removed.

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6. For any questions about the exams and assignments, a student should contact the instructor,
before the day they are due, so the instructor may have enough time to provide feedback.
7. All communications will be via e-mail communications to the Texas A&M University e-mail
account, and students are expected to use their school provided email account. The instructor
will reply to a student e-mail messages and voice messages within 24 hours during week days
(Monday-Friday).
8. All assignment submissions must be uploaded to Blackboard by the due date.

Anyone violating these policies may be subject to disciplinary actions.

Class Schedule:

Class Chapter and Topic Due

1 First Lecture Syllabus
2 Second Lecture Chapter 1 – Risk and Its Treatment
3 Third Lecture Chapter 2 – Insurance and Risk
4 Fourth Lecture Chapter 3 – Introduction to Risk Management
5 Fifth Lecture Chapter 5 – Types of Insurers and Marketing
Systems
Mid-term Exam 1
6 Sixth Lecture Chapter 8 – Economics of Regulation and
Government Regulation of Insurance
7 Seventh Lecture Chapter 9 – Law and Economics; Fundamental
Legal Principles
8 Eighth Lecture Chapter 10 – Corporate Contracts and the Analysis
of Insurance
Mid-term Exam 2
9 Ninth Lecture Chapter 11 – Life Insurance
10 Tenth Lecture Chapter 15 – Health Insurance
11 Eleven Lecture Chapter 17 – Employee Benefit Retirement Plans
12 Final Exam All Quizzes

Drop Policy
You may drop the course with an automatic grade of W on or before the date listed in the academic
calendar at www.tamusa.edu. The last date to drop a course, or withdraw from the University is also
indicated in the academic calendar on the university website (www.tamusa.edu). If you wish to drop the
class, you must submit the necessary paperwork to the proper authority. Students dropping a course are
subject to all conditions listed in the university catalog.

Financial Aid and Verification of Attendance

According to the following federal regulation, 34 CFR 668.21: U.S. Department of Education (DoE)
Title IV regulation, a student can only receive Title IV funds based on Title IV eligibility criteria which
includes class attendance. If Title IV funds are disbursed to ineligible students (including students who
fail to begin attendance), the institution must return these funds to the U.S. DoE within 30 days of

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becoming aware that the student will not or has not begun attendance. Faculty will provide the Office of
Financial Aid with an electronic notification if a student has not attended the first week of class. Any
student receiving Federal financial aid who dos not attend the first week of class will have his/her aid
terminated and returned to the DoE. Please note that any student who stops attending at any time during
the semester may also need to return a portion of his/her federal aid.

Jaguar Writing Center

The Jaguar Writing Center provides writing assistance to graduate and undergraduate students in all
three colleges. Writing tutors work with students to develop reading skills, prepare oral presentations,
and plan, draft, and revise their written assignments. Students can make individual or group
appointments with a writing tutor. The Writing Center can be contacted by email at:
Student.Success@tamusa.edu or by phone at (210) 784-1307, or by visiting its web page from
www.tamusa.edu.

Jaguar Tutoring Center

The Tutoring Center at Texas A&M University–San Antonio provides academic assistance to students
in TAMU-SA’s schools of Business, Education, and Arts and Sciences. Literacy tutors help students
develop reading skills, prepare oral presentations, and plan, draft, and revise their papers. Business
tutors provide individual assistance in statistics, accounting, and math. The goal of TAMU-SA tutors is
to empower students to succeed academically. The tutoring center can be contacted by email at:
Tutoring@tamusa.edu or by phone at: (210) 784-1332, or by visiting its web page from
www.tamusa.edu.

University Email Policy and Course Communications

All correspondence between professors and students must occur via University email accounts. You
must have Jaguar email account ready and working. If it is not working, contact the help desk at 210-
784-4357.

The Six-Drop Rule

Students are subject to the requirements of Senate Bill (SB) 1231 passed by the Texas Legislature in
2007. SB 1231 limits students to a maximum of six (6) non-punitive course drops (i.e., courses a
student chooses to drop) during their undergraduate careers. A non-punitive drop does not affect the
student’s GPA. However, course drops that exceed the maximum allowed by SB 1231 will be treated as
“F” grades and will impact the student’s GPA.

Students with Disabilities

The Americans with Disabilities Act (ADA) is a federal anti-discrimination statute that provides
comprehensive civil rights protection for persons with disabilities. Among other things, this legislation
requires that all students with disabilities be guaranteed a learning environment that provides for
reasonable accommodation of their disability. If you believe you have a disability that may require
accommodations, please contact Disability Support Services (DSS) for the coordination of services. The
phone number for DSS is (210) 784-1335 and email is dsupport@tamusa.edu.

Academic Misconduct Policy

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Students at Texas A&M University-San Antonio are expected to adhere to the highest standards of
academic honesty and integrity. Academic misconduct for which a student is subject to penalty includes
cheating, plagiarism, fabrication, multiple submissions, misrepresentation of academic records,
facilitating academic dishonesty, unfair advantage, violating known safety requirements and ethical
misconduct. Students are expected to do their own course work. Simple cases of first offense cheating
or plagiarism by an individual student may be handled by the instructor after consultation with the
department chair. The student is usually confronted with the evidence in private and advised of the
penalty to be assessed. The evidence will be retained for at least one full year. For more serious cases,
such as those involving repeated offenses, conspiracy with other students or the theft and selling of
examination questions, a report should be made by the instructor via the department chair and college
dean to the Office of Student Rights and Responsibilities. Academic dishonesty is a violation of the
Student Code of Conduct; therefore, the instructor SHALL report any form of academic dishonesty to
the Office of Student Rights and Responsibilities. Both parties (provider and copier) will be held
responsible for the misconduct. Please review the Student Handbook for a complete description of the
process. Penalties for academic dishonesty may range from a grade of F on the particular paper or in the
course to expulsion from the University.

Considering the potential consequences of academic misconduct, it is obviously in students’ best

interests to avoid even the appearance of such behavior. If a student is unclear whether a specific act
might constitute academic misconduct, please she/he should contact the instructor for an assessment of
the situation.

All student term papers and other written assignments are subject to analysis by anti-plagiarism
software. Posting of any class work or discussion on publicly accessible forums or on social media is not
permissible.

Key Dates
The complete academic calendar is available online:
https://catalog.tamusa.edu/undergraduate/academic-calendar/

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