EFB227 Insurance, Risk Management and Estate Planning
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | EFB227 |
|---|---|
| Prerequisite(s): | EFB210 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,124 |
| Pre-2021 CSP student contribution | $1,663 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,204 |
| International unit fee | $4,512 |
Unit Outline: Semester 1 2025, Gardens Point, Internal
| Unit code: | EFB227 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB210 |
| Coordinator: | Gabbi Parle | g.parle@qut.edu.au |
Overview
This unit is designed for students to further develop their understanding of risk management, insurance and estate planning concepts and issues, and practise skills in developing and providing financial planning advice to clients. The knowledge and skills developed in this unit are essential for financial planning practitioners.
Learning Outcomes
On successful completion of this unit you will be able to:
- Analyse and synthesise financial data to prepare analysis and advice on risk management, insurance and estate planning for decision-making. [KS 1.1, HO 2.1]
- Exercise critical thinking, evaluation and judgement for problem solving in the context of risk management, insurance and estate planning decision making. [HO 2.1, 2.2]
- Communicate in written forms to clearly and professionally structure and present ideas, judgements and opinions to clients when providing advice on risk, insurance and estate planning matters. [PC 3.1]Relates to: UG Business Capabilities: PC (3.1)
- Apply teamwork knowledge and skills to work with others. [4.2]Relates to: UG Business Capabilities: TS (4.2)
- Demonstrate and apply knowledge of insurance, risk and estate planning regulatory issues to real world problems and contexts. [SE 5.1]Relates to: UG Business Capabilities: SE (5.1)
Content
The unit will provide students with a detailed knowledge of Insurance products and compliance of the insurance industry, together with a discussion of constructing an insurance contract as an effective risk management tool. Estate planning issues including incapacity planning, business succession planning, blended family issues and philanthropy and guardianship provision will be addressed together with a discussion of the taxation consequences of insurance and estate planning options.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
This unit has a formal class contact time consisting of lectures and tutorials (lecture two hours, tutorial one hour) for each week of the semester. Students need to devote an appropriate amount of time on self-study and assignments. Resources such as copies of slides for each lecture topic, reading and tutorial guides, assignments and some solutions are provided on the unit's Canvas site at < http://Canvas.qut.edu.au >.
Students are expected to read the relevant material (textbook and notes), complete the self-study questions provided and to review the lecture slides before attending the lecture. A reading and tutorial guide can be found on the Canvas site. The reading guide indicates the material for students to concentrate upon.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the learning objectives for both discipline knowledge and other graduate capabilities. Assessment has been designed in order to allow you to:
- Receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- Demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Client Interview Questions
Development of client interview questions to gather data for the risk and insurance and estate planning assessment.
This is an assignment for the purposes of an extension.
Formative or Summative: Summative and Formative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1)
Assessment: Risk, Insurance and Estate Client Plan
Description: The group project will construct a risk assessment, insurance and estate plan for a financial planning client. Group processes (5%) will be assessed as part of the overall project mark.
This is an assignment for the purposes of an extension.
Formative or Summative: Summative and Formative
Business Capabilities (AoL goals): HO (2.2), PC (3.1), TS (4.2), SE (5.1)
Assessment: Final Exam
Short answer type questions
Formative or Summative: Summative
Business Capabilities (AoL goals): HO (2.1, 2.2), SE (5.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Scriven, Doug (2015) Guide to Life Risk Protection and Planning - 3rd Edition CCH
Other
Additional references and resources, including lecture overheads, additional notes, journal and other readings, weekly reading and tutorial guides, assignments and solutions can also be found at the unit's Canvas site.
Students are encouraged to read the Australian Financial Review newspaper and to have as handy reference their preferred business finance text.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, Client Interview Questions, Final Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Risk, Insurance and Estate Client Plan, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Client Interview Questions
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Client Interview Questions, Risk, Insurance and Estate Client Plan
SE (5.1): Ethical and Legal Understanding
Relates to: ULO5, Risk, Insurance and Estate Client Plan, Final Exam
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Risk, Insurance and Estate Client Plan
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Client Interview Questions - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, Client Interview Questions, Final Exam - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Risk, Insurance and Estate Client Plan, Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Client Interview Questions, Risk, Insurance and Estate Client Plan - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO4, Risk, Insurance and Estate Client Plan - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO5, Risk, Insurance and Estate Client Plan, Final Exam
Unit Outline: Semester 1 2025, Online
| Unit code: | EFB227 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB210 |
Overview
This unit is designed for students to further develop their understanding of risk management, insurance and estate planning concepts and issues, and practise skills in developing and providing financial planning advice to clients. The knowledge and skills developed in this unit are essential for financial planning practitioners.
Learning Outcomes
On successful completion of this unit you will be able to:
- Analyse and synthesise financial data to prepare analysis and advice on risk management, insurance and estate planning for decision-making. [KS 1.1, HO 2.1]
- Exercise critical thinking, evaluation and judgement for problem solving in the context of risk management, insurance and estate planning decision making. [HO 2.1, 2.2]
- Communicate in written forms to clearly and professionally structure and present ideas, judgements and opinions to clients when providing advice on risk, insurance and estate planning matters. [PC 3.1]Relates to: UG Business Capabilities: PC (3.1)
- Apply teamwork knowledge and skills to work with others. [4.2]Relates to: UG Business Capabilities: TS (4.2)
- Demonstrate and apply knowledge of insurance, risk and estate planning regulatory issues to real world problems and contexts. [SE 5.1]Relates to: UG Business Capabilities: SE (5.1)
Content
The unit will provide students with a detailed knowledge of Insurance products and compliance of the insurance industry, together with a discussion of constructing an insurance contract as an effective risk management tool. Estate planning issues including incapacity planning, business succession planning, blended family issues and philanthropy and guardianship provision will be addressed together with a discussion of the taxation consequences of insurance and estate planning options.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
This unit has a formal class contact time consisting of lectures and tutorials (lecture two hours, tutorial one hour) for each week of the semester. Students need to devote an appropriate amount of time on self-study and assignments. Resources such as copies of slides for each lecture topic, reading and tutorial guides, assignments and some solutions are provided on the unit's Canvas site at < http://Canvas.qut.edu.au >.
Students are expected to read the relevant material (textbook and notes), complete the self-study questions provided and to review the lecture slides before attending the lecture. A reading and tutorial guide can be found on the Canvas site. The reading guide indicates the material for students to concentrate upon.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the learning objectives for both discipline knowledge and other graduate capabilities. Assessment has been designed in order to allow you to:
- Receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- Demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Client Interview Questions
Development of client interview questions to gather data for the risk and insurance and estate planning assessment.
This is an assignment for the purposes of an extension.
Formative or Summative: Summative and Formative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1)
Assessment: Risk, Insurance and Estate Client Plan
Description: The group project will construct a risk assessment, insurance and estate plan for a financial planning client. Group processes (5%) will be assessed as part of the overall project mark.
This is an assignment for the purposes of an extension.
Formative or Summative: Summative and Formative
Business Capabilities (AoL goals): HO (2.2), PC (3.1), TS (4.2), SE (5.1)
Assessment: Final Exam
Short answer type questions
Formative or Summative: Summative
Business Capabilities (AoL goals): HO (2.1, 2.2), SE (5.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Scriven, Doug (2015) Guide to Life Risk Protection and Planning - 3rd Edition CCH
Other
Additional references and resources, including lecture overheads, additional notes, journal and other readings, weekly reading and tutorial guides, assignments and solutions can also be found at the unit's Canvas site.
Students are encouraged to read the Australian Financial Review newspaper and to have as handy reference their preferred business finance text.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, Client Interview Questions, Final Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO2, Risk, Insurance and Estate Client Plan, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Client Interview Questions
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Client Interview Questions, Risk, Insurance and Estate Client Plan
SE (5.1): Ethical and Legal Understanding
Relates to: ULO5, Risk, Insurance and Estate Client Plan, Final Exam
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Risk, Insurance and Estate Client Plan
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Client Interview Questions - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, Client Interview Questions, Final Exam - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO2, Risk, Insurance and Estate Client Plan, Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Client Interview Questions, Risk, Insurance and Estate Client Plan - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO4, Risk, Insurance and Estate Client Plan - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO5, Risk, Insurance and Estate Client Plan, Final Exam