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Risk Management & Insurance Degree Program

Risk Management Degrees - Insurance Degree Online Program OverviewProgram DetailsWhy Choose Franklin
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Risk Management & Insurance - Subsequent Bachelor of Science Degree

Looking to earn an additional bachelor’s degree? This degree is specifically designed for students who have already completed a bachelor's degree or higher.

Prerequisite Competencies

  • ECON 220 - INTRODUCTION TO MACROECONOMICS (4)

    ECON 220

    INTRODUCTION TO MACROECONOMICS

    Course Description

    An introduction to economic theory involving the basic underlying causes and principles of the operation of an economic system. Emphasis is placed on studying the economy as a whole. Issues of inflation, unemployment, taxation, business cycles and growth are discussed in the context of the global economic system.
  • PF 321 - LEARNING STRATEGIES (2)

    PF 321

    LEARNING STRATEGIES

    Course Description

    This course prepares students to be successful lifelong learners both academically and in their chosen careers. Franklin courses require a high level of self-directed learning and focus on skills required in the workplace and the classroom that are easily transferable between the two environments. The course includes strategies for advancing communication skills, including the use of electronic tools to participate in virtual environments. The assignments and activities in the course are created to closely simulate teamwork found in the workplace.

Business Core (28 hours)

  • ACCT 215 - FINANCIAL ACCOUNTING (4)

    ACCT 215

    FINANCIAL ACCOUNTING

    Course Description

    An introduction to accounting emphasizing how general purpose financial statements communicate information about the business corporation's performance and position for users external to management. Approximately one third of the course emphasizes how the accountant processes and presents the information and includes exposure to recording transactions, adjusting balances and preparing financial statements for service and merchandise firms according to established rules and procedures. The balance of the course examines major elements of the statements such as cash, receivables, inventory, long'lived assets, depreciation, payroll, bonds, and other liabilities and stocks. Concepts of this course are applied to Managerial Accounting (ACCT 225). Students are advised to avoid any time lapse between these courses.
  • ACCT 225 - MANAGERIAL ACCOUNTING (4)

    ACCT 225

    MANAGERIAL ACCOUNTING

    Course Description

    The study of management accounting for internal reporting and decision-making. The course introduces a business-management approach to the development and use of accounting information. Major topics include cost behavior, cost analysis, profit planning and control measures. Accounting for decentralized operations, capital budgeting decisions, and ethical challenges in managerial accounting are also covered.
  • BSAD 220 - BUSINESS LAW (4)

    BSAD 220

    BUSINESS LAW

    Course Description

    A study of the everyday legal problems encountered in business with emphasis on the areas of legal procedure, contracts, agency, employment law, business organizations and torts, with cases relating to these and other areas.
  • ECON 210 - INTRODUCTION TO MICROECONOMICS (4)

    ECON 210

    INTRODUCTION TO MICROECONOMICS

    Course Description

    An introduction to economic theory involving the examination of how decision making by firms and individuals is shaped by economic forces. Emphasis is placed on demand, supply, market equilibrium analysis, and basic market structure models. The invisible hand as the driving force for economic decisions as well as market externalities are discussed. The class concentrates on providing a balanced approach to studying economic agents' behavior and the global implications and outcomes.
  • FINA 301 - PRINCIPLES OF FINANCE (4)

    FINA 301

    PRINCIPLES OF FINANCE

    Course Description

    This course is designed to survey the field of finance and provide the foundation for more advanced finance coursework. Topics include sources of business and financial information, financial statement analysis, the time value of money, the nature and measurement of risk, financial institutions, investments and corporate finance.
  • MGMT 312 - PRINCIPLES OF MANAGEMENT (4)

    MGMT 312

    PRINCIPLES OF MANAGEMENT

    Course Description

    This course explores the basic concepts and processes of management. Students will explore the functional roles and processes of planning, leading, organizing, and controlling comprising the manager role. Students develop skills related to the manager function and required in today's competitive environment.
  • MKTG 300 - MARKETING (4)

    MKTG 300

    MARKETING

    Course Description

    A general course in marketing theory and methods. Among topics discussed are the importance of marketing, the interrelationship of the different phases of marketing, the differences between the marketing of goods and services, wholesaling, retailing, pricing strategies, analysis of markets, and distribution.

Major Area (24 hours)

  • RMI 300 - PRINCIPLES OF RISK MANAGEMENT & INSURANCE (4)

    RMI 300

    PRINCIPLES OF RISK MANAGEMENT & INSURANCE

    Course Description

    This course introduces students to the general concepts of risk identification and management, as well as how various products and methods, including insurance, can be used to manage the non-speculative risks of individuals and businesses. Emphasis will be placed on analyzing various types of insurance products, including life, health, property, and liability insurance contracts, and how the insurance industry develops, manages, markets, and underwrites such contracts in a complex economic and regulatory environment.
  • RMI 420 - PROPERTY AND CASUALTY INSURANCE (4)

    RMI 420

    PROPERTY AND CASUALTY INSURANCE

    Course Description

    This course focuses on the core principles underlying and potential applications for property and casualty insurance as a risk management tool. Emphasis is placed on analyzing various types of property and casualty insurance products, contracts involved in such products, and considerations of both the insurer and the insured in identifying suitable property and/or casualty insurance products for mitigating specific identifiable business and personal risks.
  • RMI 430 - INDIVIDUAL & GROUP LIFE & HEALTH INSURANCE (4)

    RMI 430

    INDIVIDUAL & GROUP LIFE & HEALTH INSURANCE

    Course Description

    This course analyzes the uses of individual and group life and health insurance to manage the financial risks that illness, incapacity, and death pose to individuals and organizations. It includes a review of various health and life insurance products and their utility in addressing specific needs and situations, as well as the underwriting and operational mechanisms that insurers employ in providing such products.
  • RMI 440 - EMPLOYEE BENEFITS & RETIREMENT PLANNING (4)

    RMI 440

    EMPLOYEE BENEFITS & RETIREMENT PLANNING

    Course Description

    This course surveys the nature and operation of the various types and components of employer-sponsored benefit plans, as well as the public welfare plans meant to provide support and key services to individuals. Emphasis will be placed on plan design, administration, funding, and regulations and the ability to analyze and develop programs that maximize employee and organizational benefit while minimizing cost.
  • RMI 470 - INSURANCE COMPANY OPERATIONS (4)

    RMI 470

    INSURANCE COMPANY OPERATIONS

    Course Description

    This course analyzes insurer operations and, in particular, the methods and bases for their operational decisions, including pricing, distribution, marketing, underwriting, reinsurance, claims handling, and loss limitation or control. Consideration will also be given to the impact of outside influences on insurer operations, including industry regulation and market/economic influences.
  • RMI 495 - RISK MANAGEMENT & INSURANCE CAPSTONE (4)

    RMI 495

    RISK MANAGEMENT & INSURANCE CAPSTONE

    Course Description

    This course will build upon all of the previous material and previous research assignments in the risk management and insurance program to provide a capstone experience for risk management and insurance majors. Students will be challenged to research and analyze the operations and finances of domestic and international corporations, determine their operational and financial risk profile, and create a risk management strategy for managing these risks, all while expanding their knowledge base to include international risk management and insurance product strategies, regulations, and issues. Students will be required to communicate their research and analysis in organized and structured papers and analyses and to present their findings to various audiences.

Major Electives (8 hours)

  • ACCT 341 - FRAUD EXAMINATION (4)

    ACCT 341

    FRAUD EXAMINATION

    Course Description

    This course provides an overview of the behavioral research associated with occupational fraud and the methodology of fraud examination (i.e., obtaining documentary evidence, interviewing witnesses and potential suspects, writing investigative reports, testifying to findings, and forensic document examination). The majority of the course is focused on detecting the most common types of occupational fraud, determining how each type of fraud is committed, and implementing prevention strategies.
  • ACCT 342 - INTERVIEWING TECHNIQUES FOR FRAUD INVESTIGATIONS (4)

    ACCT 342

    INTERVIEWING TECHNIQUES FOR FRAUD INVESTIGATIONS

    Course Description

    This course provides an overview of techniques and strategies useful in interviewing and interrogating occupational fraud suspects and other parties of interest. These techniques and strategies include interpreting the verbal and nonverbal cues of an interviewee, as well as planning, conducting, and documenting the findings from investigative interviews.
  • ACCT 343 - LEGAL ELEMENTS OF FRAUD (4)

    ACCT 343

    LEGAL ELEMENTS OF FRAUD

    Course Description

    This course explores the legal issues associated with occupational fraud investigations with a primary emphasis on the proper preparation of a fraud report. Related topics addressed include analyzing relevant criminal and civil laws, the rights of the parties involved in an investigation, rules of evidence, and expert witnessing.
  • ACCT 344 - CORPORATE GOVERNANCE & INTERNAL CONTROL ASSESSMENT (4)

    ACCT 344

    CORPORATE GOVERNANCE & INTERNAL CONTROL ASSESSMENT

    Course Description

    This course starts with an overview of key legislation and guidelines associated with corporate governance. This includes analyzing the components of the Committee of Sponsoring Organizations' (COSO) internal control framework, the Sarbanes-Oxley Act of 2002, Statement on Auditing Standards (SAS) No. 99, and the role of the Public Company Accounting Oversight Board (PCAOB). However, the primary focus of the course is on identifying, documenting, analyzing, and testing internal controls in an organization as part of an effective fraud prevention program.
  • ECON 321 - INTERMEDIATE MICROECONOMICS (4)

    ECON 321

    INTERMEDIATE MICROECONOMICS

    Course Description

    This course provides a further examination of profit maximizing strategies by firms and individuals. Evaluation of consumer behavior, firms' production decisions, and market power are at the core of the analysis. Special attention is given to the asymmetric information considerations, game theory, and externalities.
  • ECON 322 - INTERMEDIATE MACROECONOMICS (4)

    ECON 322

    INTERMEDIATE MACROECONOMICS

    Course Description

    This course examines the differences between the economy in the short run and in the long run. A number of macroeconomic models are considered, and the results are used to conduct macroeconomic policy discussion on stabilization policies and government debt.
  • ECON 420 - FORECASTING (4)

    ECON 420

    FORECASTING

    Course Description

    This course provides a hands-on experience for creating working econometric models to forecast business activities, including revenues, costs, and profits. Trends, seasonal and cyclical fluctuations, as well as error term dynamics, are analyzed.
  • ENTR 395 - FOUNDATIONS OF ENTREPRENEURSHIP (4)

    ENTR 395

    FOUNDATIONS OF ENTREPRENEURSHIP

    Course Description

    Foundations of Entrepreneurship is an introductory course that examines the theory, practice, and tools of entrepreneurship. Various entrepreneurship structures and how such structures result in different unique pathways to success are explored. Students will focus on the importance of developing an entrepreneurial mindset as they assess their individual values and determine their affinity for entrepreneurial thinking, while also reviewing the risks and rewards of entrepreneurial businesses in the context of their chosen entrepreneurial philosophy. Finally, students will identify and evaluate opportunities for new ventures, and consider a strategic approach for successful business plan development.
  • FINA 403 - ADVANCED FINANCIAL MANAGEMENT (4)

    FINA 403

    ADVANCED FINANCIAL MANAGEMENT

    Course Description

    An introduction to advanced concepts and methods of financial management. Topics include risk and return, asset evaluation, capital budgeting, capital structure, business financial planning and working capital management.
  • FINA 405 - INVESTMENTS (4)

    FINA 405

    INVESTMENTS

    Course Description

    An examination of investment markets, transactions, planning and information. Topics include investment risk and return measures, debt and equity instruments, evaluation techniques, hybrid and derivative securities, mutual funds, real estate investments, tax planning and the investment process, and portfolio management.
  • FINA 450 - GLOBAL FINANCE (4)

    FINA 450

    GLOBAL FINANCE

    Course Description

    An examination of financial management in the global economy. Topics include international financial markets, exchange rates, interest rates and inflation, exchange rate risk management, working capital management, capital budgeting, country risk analysis, long-term financing, and global strategic planning.
  • FPLN 300 - PRINCIPLES OF FINANCIAL PLANNING (4)

    FPLN 300

    PRINCIPLES OF FINANCIAL PLANNING

    Course Description

    An introduction to personal financial planning. Topics include the financial planning process, money management and investments, insurance needs, income tax planning, retirement planning and estate planning. Cases are used to illustrate important planning concepts, techniques and issues.
  • FPLN 430 - INCOME TAX PLANNING (4)

    FPLN 430

    INCOME TAX PLANNING

    Course Description

    An introduction to federal income taxation and the role of the tax code in financial planning for individuals, businesses, and business owners. Topics include the tax environment, fundamentals of income tax planning, the measurement of taxable income, the taxation of business income, individual income taxation, and the tax compliance process.
  • FPLN 440 - INSURANCE PLANNING (4)

    FPLN 440

    INSURANCE PLANNING

    Course Description

    An introduction to the techniques and issues of risk management and insurance for businesses and individuals. Topics include legal principles in risk and insurance, insurance contracts, personal property and liability risk, life and health risks, social insurance, insurance companies and product markets, insurance pricing, insurance taxation, government regulation of insurance, and professional ethics and market conduct.
  • FPLN 460 - ESTATE PLANNING (4)

    FPLN 460

    ESTATE PLANNING

    Course Description

    An introduction to the principles and techniques in estate planning. Topics include the use of living and testamentary trusts, joint ownership of property, life insurance, charitable dispositions, inter vivos gifts, and the marital deduction to efficiently conserve and transfer wealth, consistent with the client's goals.
  • RMI 410 - RMI INTERNSHIP (1 - 4)

    RMI 410

    RMI INTERNSHIP

    Course Description

    This course provides qualified students with an opportunity to receive academic credit for supervised professional training and experience in an actual work environment. This Internship is an ongoing seminar between the student, the faculty member and the employment supervisor. It involves an Internship Application and Learning Agreement, periodic meetings with the faculty representative, professional experience at a level equivalent to other senior-level courses and submission of material as established in the Internship Application and Learning Agreement. Participation cannot be guaranteed for all applicants.

Additional Requirements

Each candidate for a subsequent degree must successfully complete in residence at Franklin University a minimum of 30 credit hours of 200 level courses or above, of which a minimum of 16 credit hours must be in major area courses at the 300 or 400 level. If the student is a previous Franklin bachelor of science degree graduate, the 30 credits must be earned after the first Franklin B.S. degree was awarded. If the required courses for a subsequent degree total less than 30 credit hours, the student may take Free Elective courses to achieve residency. Either PF 121 or PF 321 must be taken prior to the first BLF course, or it may be taken concurrently with the first 15-week BLF course. Students also must meet the University algebra competency requirement

A minimum GPA of 2.25 is required in the major area, and each major area course must be completed with a grade of “C” or better to count toward degree requirements.

Please see the Academic Bulletin for the complete list of degree and residency requirements.

Additional Curriculum

Risk Management & Insurance - Bachelor of Science Degree

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Build well-rounded skills and learn the industry specific knowledge you will need to be successful in your career.

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