Inactive Learning Experiences - FLMI Courses

Organization

LOMA

Credit Course Categories:

Descriptions and credit recommendations for all evaluated learning experiences

Financial Services Environment (LOMA 351)

Formerly Financial Services Environment [FLMI 351]; Economics and Investments [FLMI 350]

Length:

Varies-independent study.

Dates:

September 1998 - December 2011.*

Objectives:

Upon successful completion of the course, students will be able to: apply basic microeconomic and macroeconomic concepts to understanding consumer behavior and financial services operations; interpret graphs illustrating demand and supply; distinguish among the major types of money market and capital market instruments used by individuals and businesses; describe the origin, behavior, and structure of interest rates; describe the major types of financial institutions, including the products they offer and typical assets and liabilities of each; comprehend the problem of asymmetric information and describe its impact on the financial services environment; discuss steps that financial institutions can take to manage the risks they face; and describe how financial institutions create money and how central banks control the supply of money in an economy.

Instruction:

Major topics include: economic constraints and production possibilities; market characteristics, structures and institutions; supply, demand and equilibrium; maximizing profit; understanding interest rates; theory of portfolio choice; theory of efficient capital markets; financial innovation; the foreign exchange market; money, capital and mortgage markets; theory of financial structure; commercial banks; savings and loans and credit unions; banking regulation; insurance companies and pension funds; finance companies and financial conglomerates; securities markets and firms; risk management in financial institutions; financial derivatives; introduction to the money supply process; central banks and the conduct of monetary policy.

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours in Finance (12/99) (12/04 revalidation). *NOTE: Earlier versions of this course, dating from January 1965 to August 1998, have been recommended for credit. Please refer to Economics and Investments (FLMI 350) under 73 for further information. NOTE: This course is also listed under the 72.

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Information Management in Insurance Companies (LOMA 340)

Formerly Information Management in Insurance Companies [FLMI 340]; Information Management in Insurance Companies [Course 6]

Length:

Varies-independent study.

Dates:

Version 2: November 1993 - April 2000.* Version 3: May 2000 – December 2004.

Objectives:

Version 2: Students will be able to: explain the importance of information systems for managerial end-users; identify components and functions of an information system; explain fundamental concepts of management science and the application of management science tools and techniques to the decision-making process; explain the principles and uses of basic statistics and the role of statistics in decision-making. Version 3: Students will be able to: explain the importance and functions of information systems in insurance companies; describe the processes involved in creating and maintaining databases and inferential statistics that can be applied to analyzing work processes; explain basic descriptive and inferential statistics and basic management models to use in decision making.

Instruction:

Version 2: Major topics include: use of information systems for operations, management, and strategic advantage; managerial overview of hardware, software, telecommunications, and database management; end user computing and office automation; artificial intelligence in business; management of information technology, including planning, implementation and control, international issues, and ethical dimensions; introductory statistical concepts, including frequency distributions, variance, correlation, regression, normal probability distribution, sampling, and chi-square tests; overview of management science, including decision theory models, forecasting methods, inventory models, network models, and linear programming. Version 3: Information systems in organizations; computer hardware and software; telecommunications and networks; Internet technology; transaction processing; electronic commerce; enterprise resource planning; management information systems; decision support systems; artificial intelligence and expert systems; systems investigation, analysis, design, implementation, maintenance, and review; security, privacy, and ethical issues in information systems and the Internet; using descriptive and inferential statistics to manage information; using decision theory and linear programming to manage information; applying management science models to business operations.

Credit recommendation:

Version 2 and 3: In the upper division baccalaureate degree category, 3 semester hours in Management Information Systems (4/86) (9/94 revalidation) (1/01 revalidation). NOTE: This course represents a revision of Systems and Data Processing (Part 7). It is sufficiently different to warrant a separate course exhibit and credit recommendation. *NOTE: An earlier version of this course, dating from July 1985 to December 1992, has been recommended for credit. Please refer to information in Insurance Companies [Course 6] under 73 for further information.

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Insurance Marketing (LOMA 320)

Formerly Life and Insurance Marketing [FLMI 320]; Marketing Life and Health Insurance [FLMI 320]; Marketing Life and Health Insurance [Course 4]; also known as Marketing Life and Health Insurance [Part 9-MK]

Length:

Varies-independent study.

Dates:

Version 2: January 1989 - October 2000.* Version 3: November 2000 - December 2004. Version 4: January 2006 - May 2023.

Objectives:

Version 2: Upon successful completion of the course, students will be able to: define and explain basic marketing concepts and principles and apply marketing concepts and principles to the life and health insurance industry. Version 3: Upon successful completion of the course, students will be able to: discuss how strategic marketing principles and practices are applied in the life and health insurance industry; explain methods used by insurers to strengthen and improve customer relationships; explain how life and health insurance products are developed, priced, and distributed; explain how insurance companies use advertising and other product promotion; describe the regulatory environment surrounding life and health insurance; discuss the role that ethics plays in insurance marketing; and explain the challenges facing insurers in marketing products in a global marketplace. Version 4: Upon successful completion of the course, students will be able to: describe the environment in which life and health insurers conduct their marketing activities; discuss how strategic marketing principles and practices are applied in the life and health insurance industry; explain methods used by insurers to strengthen and improve customer relationships; explain how insurers gather and manage marketing information; explain how life and health insurance products are developed, priced, and distributed; explain how insurance companies advertise and promote their products; describe the regulatory environment surrounding life and health insurance; explain the marketing challenges facing insurers operating in a global marketplace; discuss the role that ethics plays in insurance marketing; and explain the marketing challenges facing insurers operating in a global marketplace.

Instruction:

Version 2: Major topics include: marketing's role in society and business: planning; research; market segmentation; consumer behavior; products; distribution channels; pricing; promotion. Marketing functions in life and health insurance: product development; market research; distribution; group and special markets. Version 3: Topics include: the marketing environment; marketing planning; information management and marketing research; consumer behavior; market segmentation; relationship marketing; product development; pricing; distribution systems; personal selling, advertising, sales promotion, and publicity; regulatory influences; international marketing. Version 4: This course covers marketing principles and the functions of marketing as an integral aspect of the life and health insurance industry. Topics include: regulatory and other environmental influences on insurance marketing; international marketing of insurance; planning marketing goals; organizing, implementing, and controlling marketing activities; market segmentation and target marketing; marketing research and marketing information systems; product development and pricing; customer behavior and customer relationship marketing; distribution channels and strategies; insurance producer licensing and compensation; advertising, promotion, and selling.

Credit recommendation:

Version 2 and 3: In the lower division baccalaureate/associate degree category OR in the upper division baccalaureate degree category, 3 semester hours as an elective in Business Administration or Insurance (3/84) (5/90 revalidation) (12/95 revalidation) (1/01 revalidation). Version 4: In the upper division baccalaureate degree category, 3 semester hours in Financial Planning, Insurance, Business, or Marketing curriculum or certificate programs (7/06 revalidation) (10/12 revalidation) (11/17 revalidation). *NOTE: An earlier version of this course, dating from December 1981 to December 1988, has been recommended for credit. Please contact NCCRS for copies of the course exhibits. NOTE: This course and Financial Services Marketing (LOMA 326) overlap in content. Credit is recommended for the completion of only one course.

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Investment Principles and Institutional Investing (LOMA 356)

(Principles of Investment and Introduction to Institutional Investing)

Length:

Varies-independent study.

Dates:

July 2004 - May 2013.

Objectives:

Upon successful completion of the course, students will be able to: describe the investment environment and the general principles of investing in individual securities and portfolios of securities; explain how investment performance is reported, monitored, and analyzed; discuss how the risk-return tradeoff setting and implementing investment goals; discuss the following aspects of institutional investing; roles of investment professionals, investment information systems, investment accounting and controls, investment compliance, and management of general and separate account portfolios.

Instruction:

This course covers the investment environment and the general principles of investing in both individual securities and portfolios of securities, setting and implementing investment goals in light of the risk-return trade-off, and investing in an institutional setting, including roles, administrative systems and processes, goal setting, performance reviews, and risk management. Topics include: the role and scope of investments; investment markets and transactions; online investing, information, and trading; investment return and risk; modern portfolio concepts; bond investments; bond valuation and analysis; common stock investments; stock valuation and investment decisions; mutual funds; institutional asset allocation; management of the investment function in institutions; marketing investing services to businesses and other institutions; accounting for investment expenses, managing transaction expenses; institutional approaches to risk management; investment compliance, prospectuses, registration, declaration of interest rates.

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours in Financial Services (12/04) (3/10 revalidation).

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Legal Aspects of Life and Health Insurance - Canada (LOMA 315)

Formerly Legal Aspects of Life and Health Insurance-Canada [FLMI 315]; Legal Aspects of Life Insurance [Course 3]; also known as Legal Aspects of Life Insurance [Part 3]

Length:

Varies-independent study.

Dates:

Version 3: June 1989 - May 1997.* Version 4: June 1997 - December 2005.

Objectives:

Version 3: Students will be able to: describe and apply the legal principles pertinent to life and health insurance company products and life and health insurance company operations. Version 4: Students will be able to: explain the functions of insurance regulations, administrative rules, and statutory requirements; define contract law and the concept of agency; describe the legal basis for essential insurance functions, including beneficiary designations and changes, settlement agreements, wills, trusts, assignments, policy contests, and reinstatement; identify common errors in policy handling and customer relationships.

Instruction:

Version 3: Topics include: Insurance and the law; contracts; agency; legal and equitable remedies; formation and structure of the life insurance contract; beneficiaries; property rights in the policy; agreements, trusts, and wills; contesting the contract; premiums and dividends; borrowing on the policy; assignments and other transfers; lapse and reinstatement; group insurance; life and health insurance advertising; privacy and insurance; employment discrimination. Version 4: Topics include: the legal environment and regulation of the insurance industry; contract law and agency law; tort law and property law; remedies; formation of a life insurance contract; policy provisions, benefits, and statutory requirements; policy beneficiaries; premiums, non-forfeiture benefits, and policy loans; rights of the insured and of third parties; life insurance contract contests; performance of a life insurance contract; group insurance and health insurance; government-sponsored benefit programs; consumer protection laws; employment laws.

Credit recommendation:

Version 3 and 4: In the upper division baccalaureate degree category, 3 semester hours in Insurance or Legal Studies (1/75) (5/85 revalidation) (5/90 revalidation) (12/97 revalidation) (6/02 revalidation). *NOTE: Earlier versions of this course, dating from January 1965 to May 1989, have been recommended for credit. Please consult the 1990 print Directory for further information or contact NCCRS NOTE: This course overlaps in content with both Legal Aspects of Life and Health Insurance - U.S. (LOMA 310) and Business Law for Financial Services Professionals (LOMA 311). Credit is recommended for the completion of only one course.

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Legal Aspects of Life and Health Insurance - U.S. (LOMA 310)

Formerly Legal Aspects of Life and Health Insurance - U.S. [FLMI 310]; Legal Aspects of Life Insurance [Course 3]; also known as Legal Aspects of Life Insurance [Part 3]

Length:

Varies-independent study.

Dates:

Version 3: June 1989 - May 1997.* Version 4: June 1997 - December 2004.

Objectives:

Instruction:

Version 3: Major topics include: Insurance and the law; contracts; agency; legal and equitable remedies; formation and structure of the life insurance contract; beneficiaries; property rights in the policy; agreements, trusts, and wills; contesting the contract; premiums and dividends; borrowing on the policy; assignments and other transfers; lapse and reinstatement; group insurance; life and health insurance advertising; privacy and insurance; employment discrimination. Version 4: The legal environment; contracts and agency; life and health insurance agency; waiver and estoppel; formation and structure of a life insurance policy; policy provisions, benefits, and limitations; property rights in a life insurance policy; beneficiary designations and changes; settlement options, trusts, and wills; premiums and dividends; non-forfeiture provisions and policy loans; assignments and other transfers; lapse and reinstatement; remedies, policy contests, and contract performance; group insurance and health insurance; annuity contracts; insurance advertising and privacy; insurers and agents as employers.

Credit recommendation:

Version 3 and 4: In the upper division baccalaureate degree category, 3 semester hours in Insurance or Legal Studies (1/75) (5/85 revalidation) (5/90 revalidation) (12/97 revalidation) (6/02 revalidation). *NOTE: Earlier versions of this course, dating from January 1965 to May 1989, have been recommended for credit. Please consult the 1990 print Directory for further information or contact NCCRS. NOTE: This course overlaps in content with both Legal Aspects of Life and Health Insurance - Canada (LOMA 315) and Business Law for Financial Services Professionals (LOMA 311). Credit is recommended for the completion of only one course.

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LOMA Management Program (Management Process)

Length:

99 hours (3 weeks); residential.

Dates:

May 1970 - May 1980.

Objectives:

Instruction:

Credit recommendation:

In the graduate degree category, 3 semester hours in Management (11/75).

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Management Principles (FLMI 330)

Formerly Management Principles [Part 8]; also known as [Part 8a]

Length:

Varies-independent study.

Dates:

January 1973 - June 1985.

Objectives:

Instruction:

Credit recommendation:

In the lower division baccalaureate/associate degree category OR in the upper division baccalaureate degree category, 3 semester hours in General Management (11/74). NOTE: While the content of this course and Management of Organizations and Human Resources (Course 5) may appear to be similar, they are sufficiently different to warrant separate course exhibits and credit recommendations.

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Management Principles and Practices (LOMA 330)

Formerly Management Principles and Practices [FLMI 330]; Management of Organizations and Human Resources [FLMI 330]; also known as Management of Organizations and Human Resources [Course 5]

Formerly:

Length:

Varies-independent study.

Dates:

Version 2: June 1989 - October 2000.* Version 3: November 2000 - October 2004. Version 4: November 2004 - January 2008.

Objectives:

Version 2 and 3: Upon successful completion of the course, students will be able to: explain basic management concepts and principles within the organizational context and the environments within which organizations operate; apply the management functions of planning, organizing, leading, and controlling in organizational contexts. Version 4: Includes all outcomes from Version 2 and 3; in addition, students will be able to: explain the importance and functions of information systems in insurance companies and explain basic descriptive and inferential statistics and basic management models for use in decision making.

Instruction:

Version 2: Major topics include: introduction to management theory; external environment of organizations; social responsibility and ethics; strategic planning and decision-making; division of work; human resource management; motivation, performance, and satisfaction; leadership; communication; financial control; productivity control; information systems and control; performance appraisals; international management. Version 3: Major topics include: the nature of management; evolution of management thought; the changing environment of management; putting quality first; social and ethical responsibility; planning, decision making, and problem solving; organizing, managing human resources, and communicating; motivating, leading, and team building; groups and communication; control and operations management; international management. Version 4: All topics in Version 3; in addition, using descriptive and inferential statistics to manage information; using decision theory and linear programming to manage information; applying management science models to business operations.

Credit recommendation:

Version 2, 3, and 4: In the lower division baccalaureate/associate degree category OR in the upper division baccalaureate degree category, 3 semester hours in General Management (4/86) (5/90 revalidation) (12/95 revalidation) (1/01 revalidation) (7/06 revalidation) (1/08 revalidation). NOTE: This course is not recommended for credit in Human Resource Management. *NOTE: An earlier version of this course, dating from July 1985 to May 1989, has been recommended for credit. Please consult the 1994 print Directory for further information or contact NCCRS. NOTE: This course overlaps with Agency Administration (AIAA 200). If both courses are completed, a total of 4 semester hours is recommended.

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Principles of Insurance (LOMA 280)

Formerly Principles of Insurance: Life, Health and Annuities [FLMI280], Formerly Principles of Life and Health Insurance [Course 1]; also known as Principles of Life Insurance [Part 1]

Length:

Varies-independent study.

Dates:

Version 3: June 1988 - November 1995.* Version 4: December 1995 - October 2000. Version 5: November 2000 - October 2017. Version 6: November 2017 - May 2023.

Objectives:

Version 3 and 4: Upon successful completion of the course, students will be able to: identify basic principles of insurance; describe the process of becoming insured and the policy-owner's contractual rights; describe basic features of life insurance, health insurance, and annuity products. Version 5 and 6: Upon successful completion of the course, students will be able to: explain how life and health insurance help people manage risk; describe the features of individual and group life and annuity coverages, riders, policy provisions, and settlement options; identify and describe the major types of managed care coverages and compare plan features with features of traditional indemnity health plans; and distinguish among various types of retirement income and pension plans.

Instruction:

Version 3 and 4: Major topics include: nature of insurance; characteristics of an insurable risk; basic factors in pricing life insurance; basic types of life insurance; purchasing life insurance; delivery systems; the application process; underwriting, issue, and delivery; life insurance policy provisions; payment of insurance proceeds; introduction to health insurance, group insurance, annuities, and retirement plans. Version 5 and 6: Major topics include: regulation of the insurance industry; introduction to risk and insurance; pricing life insurance; individual life coverages and supplementary benefits; life insurance policy provision; claims; principles of group insurance; group life insurance; annuities; individual and group retirement plans; medical expense and disability insurance; traditional group and individual health policies; health insurance providers; and managed care plans.

Credit recommendation:

Version 3: In the lower division baccalaureate/associate degree category, 2 semester hours in Health Administration or Insurance (1/75) (5/85 revalidation) (5/90 revalidation). NOTE: If this course and Life and Health Insurance Company Operations (Course 2) are both completed, a total of 3 semester hours in Insurance in the lower division baccalaureate/associate degree category are recommended for the two courses. Version 4: In the lower division baccalaureate/associate degree category, 2 semester hours as a General elective (12/95 revalidation). NOTE: If this course and Life and Health Insurance Company Operations (FLMI 290) are both completed, a total of 3 semester hours as a General elective in the lower division baccalaureate/associate degree category are recommended for the two courses. Version 5 and 6: In the lower division baccalaureate/associate degree category, 3 semester hours as a General elective (1/01 revalidation) (7/06 revalidation) (10/12 revalidation) (11/17 revalidation) *NOTE: Earlier versions of this course, dating from January 1965 to May 1988, have been recommended for credit. Please contact NCCRS for copies of the course exhibits. NOTE: This course and Principles of Financial Services and Products (LOMA 286) overlap in content. Credit is only recommended for the completion of one course.

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