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National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

Inactive Learning Experiences - FFSI (Fellow, Financial Services Institute) Education Program

Descriptions and credit recommendations for all evaluated learning experiences

Location:

Independent study and proficiency examination program administered from the central offices of LOMA.

Length:

Varies - independent study. 

Dates:

November 2005 - September 2016. 

Objectives:

Upon successful completion of the course, students will be able to: identify the three primary types of business organizations and describe how corporations are organized in Canada; explain how businesses in Canada are regulated by antitrust laws, consumer protection laws, electronic commerce laws, and employment laws; describe the general rules of contract law, agency law, and property law for Canadian businesses; explain the legal rules that govern contracts for the sale of goods, negotiable instruments, credit and secured transactions, and bankruptcy in Canada; describe how financial services companies in Canada are regulated; identify and explain the legal issues that arise in the sale and ownership of financial services products in Canada; explain how insurance contracts are performed in Canada and recognize situations in which insurers have the right to avoid paying a claim for insurance policy proceeds; and describe the regulatory requirements that govern group life insurance contracts and group retirement plans in Canada. 

Instruction:

This course presents the basic features and principles of the legal environment in which financial services companies in Canada operate.  The first part describes general principles of business law, and the second part describes the special types of legal issues that affect financial services companies.  Topics include: the legal environment for financial services companies in Canada; civil disputes; business organizations and the regulation of business; contract law; agency law; property law; commercial transactions; bankruptcy; regulation of financial services companies and product sales; rights of third parties; contract performance; contests and remedies; and group products.

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours as an elective in Financial Services or Insurance (7/06) (6/12 Administrative Review). NOTE: This course overlaps in content with Business Law for Financial Services Professionals (LOMA 311), Legal Aspects of Life and Health Insurance - U.S. (LOMA 310) and Legal Aspects of Life and Health Insurance - Canada (LOMA 315). Credit is recommended for the completion of only one course.

Location:

Independent study and proficiency examination program administered from the central offices of LOMA.

Length:

Varies-independent study. 

Dates:

November 2004 - December 2015. 

Objectives:

Upon successful completion of the course, students will be able to: discuss the primary types of employee benefits typically offered in the United States and the regulation of such benefits; describe how organizations plan and administer their employee benefits programs; describe the financial services products that provide the following types of employee benefits: health insurance, including supplemental health benefits such as dental and prescription coverage, disability insurance, and group life insurance; describe defined benefit, defined contribution, and hybrid retirement benefit plans; and discuss the various types of retirement benefit plans available to groups and individuals. 

Instruction:

This course covers the product design and capital management issues affecting profitability and solvency for financial services providers. Topics covered include: group insurance; group life insurance; social security; group health insurance and managed care plans; supplemental health insurance coverages; disability income insurance; tax and regulatory issues for retirement plans; retirement plan termination insurance; defined benefit and defined contribution retirement plans and hybrid retirement plans; 401(k) and 403(b) plans; profit sharing plans and employee stock option plans; money purchase pension plans; funding for group retirement plans; executive benefits; and individual retirement arrangements. 

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours in a Business curriculum (7/06) (6/12 Administrative Review).

Location:

Independent study and proficiency examination program administered from the central offices of LOMA.

Length:

Version 1 and 2: Varies-independent study. 

Dates:

Version 1: September 1998 - June 2004. *Version 2: July 2004 - June 2011. 

Objectives:

Version 1: 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; describe how financial institutions create money and how central banks control the supply of money in an economy. Version 2: Students will be able to: explain basic microeconomic and macroeconomic concepts; 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, structure, and behavior of interest rates; describe the major types of financial institutions, including the products they offer and typical assets and liabilities of each; discuss steps that financial institutions can take to manage the risks they face; describe how financial institutions create money and how central banks control the supply of money in an economy.

Instruction:

Version 1: 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. Version 2: This course provides a foundation in economic principles and an understanding of the financial services environment. Topics include: overview of the financial system; money as a financial instrument; financial markets, instruments and market makers; the Federal Reserve System; interest rates and bond prices; the structure of interest rates; market efficiency; the money market; the corporate and government bond markets; the stock market; the mortgage market; financial intermediaries and risk; commercial banking structure, regulation and performance; insurance companies; pension plans and finance companies; securities firms, mutual funds, and financial conglomerates; asset-backed securities, interest-rate agreements, and currency swaps; monetary policy and the financial system.

Credit recommendation:

Version 1 and 2: 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 FLMI Courses with Inactive Credit Recommendations for further information. NOTE: This course is also listed under the FLMI Insurance Education Program.

Location:

Independent study and proficiency examination program administered from the central offices of LOMA.

Length:

Varies-independent study. 

Dates:

November 2004 - December 2015. 

Objectives:

Upon successful completion of the course, students will be able to: discuss the use of strategic marketing principles and practices in the financial services industry; describe how financial services companies use marketing research and marketing information systems; describe the primary types of financial services products; explain how financial services products are developed, priced, and distributed; explain how financial services companies advertise, promote, and sell their products; and explain methods used by financial services companies to strengthen customer relationships. 

Instruction:

This course covers basic marketing principles and the functions of marketing in a financial services environment. Topics include: Basic marketing principles; planning, organizing, implementing, and controlling marketing activities; marketing research and marketing information systems; market segmentation, target marketing, and positioning; financial services products; product development, pricing, and distribution; marketing communication overview; personal selling and sales promotion; advertising and publicity; customer behavior and customer relationship marketing. Financial services applications illustrate course content.

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours as Marketing in a Business curriculum (7/06) (6/12 Administrative Review). NOTE: This course and Life and Health Insurance Marketing (LOMA 320) overlap in content. Credit is recommended for the completion of only one course.

Location:

Independent study and proficiency examination program administered from the central offices of LOMA.

Length:

Varies-independent study. 

Dates:

Version 1: January 2004 - June 2008. Version 2: July 2008 - December 2014.

Objectives:

Version 1: Upon successful completion of the course, students will be able to: describe the information and techniques required for personal financial planning; discuss interest and time value of money concepts; explain the role of banking services and credit in personal money management; discuss mortgages and the process of purchasing a home; describe the various types of investments, how to value investments, and how to determine which investments to select; explain how insurance can be used to protect a person’s accumulated wealth; and discuss techniques for retirement planning and estate planning. Version 2: Students will be able to: describe the steps of the financial planning process; summarize the components of a financial plan; discuss time value of money, risk-return tradeoff, and asset allocation as financial planning concepts; describe the components of a cash management plan and a savings and investment plan; explain the process of establishing goals and activities for a major purchase plan, an insurance plan, and a retirement plan; list and explain the primary tools and documents used in estate planning; and describe how special personal circumstances, family-related circumstances, and retirement-related circumstances affect personal financial planning. 

Instruction:

Version 1: The course focuses on the key concepts of enhancing personal wealth by building a financial plan. Key concepts include decision-making tools and applications of financial planning. Topics include: overview of a financial plan; planning with personal financial statements; applying time value of money concepts; banking and interest rates; managing money: managing credit; purchasing and financing a home; basics of investing in stocks, bonds, and mutual funds; asset allocation; life, health, automobile, and homeowner’s insurance; retirement planning; estate planning. Version 2: This course provides an introduction to the personal financial planning process. The course includes basic steps involved in developing a comprehensive financial plan as well as discussions of various types of financial plans, including the major purchase plan, the insurance plan, the retirement plan, and the estate plan. Topics include: overview of financial planning; developing a financial plan; applying time value of money and other financial planning concepts; savings instruments and investment vehicles; goals and activities involved in various types of financial planning; financial planning for special circumstances. 

Credit recommendation:

Version 1 and 2: In the upper division baccalaureate degree category, 3 semester hours in Financial Services (12/04) (3/10 revalidation).  

Location:

Independent study and proficiency examination program administered from the central offices of LOMA.

Length:

Varies-independent study. 

Dates:

July 2004 - December 2014. 

Objectives:

Upon successful completion of the course, students will be able to: discuss the function, composition, regulation, and evolution of the financial services industry; explain basic financial concepts, including the time value of money, the risk-return tradeoff, and diversification; describe various cash management products and services; discuss the use and cost of credit and describe two categories of credit products; identify the primary types of life insurance, annuities, health insurance, property and liability insurance, securities, and tax-advantaged savings plans; for life insurance, annuities, and health insurance, describe the provisions typically included in the policy or contract and discuss the pricing of such products; and discuss the characteristics and benefits of and investment arrangements for employer-sponsored retirement plans.

Instruction:

This course introduces the major categories of financial services: cash management, credit, asset protection, asset accumulation and management, and asset distribution. The course also surveys banking, insurance, and investment products. Topics include: categories of financial services; types of financial institutions; government’s role in the financial services industry; convergence, consolidation, and globalization; time value of money; basic tax concepts; risk-return tradeoff; managing risk through insurance; diversification; opportunity costs; cash management products; credit cards; mortgages; life, health, property and liability insurance; tax-advantaged savings plans; brokerage accounts; managed accounts; stocks and bonds; mutual funds; annuities; employer-sponsored retirement plans; and private group retirement plans.

Credit recommendation:

In the lower division baccalaureate/associate degree category, 3 semester hours in Financial Services (12/04) (3/10 revalidation).  NOTE: This course and Principles of Insurance: Life, Health, and Annuities (LOMA 280) overlap in content. Credit is only recommended for the completion of one course.

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