Florida State University General Bulletin 1998-1999

FSU Homepage Office of the Registrar On-Line Registration 1997-1999 Graduate Bulletin Table of Contents

Academic Departments and Programs (course descriptions)


Department of Risk Management/Insurance and Real Estate and Program in Business Law

College of Business

Chair: Patrick F. Maroney;
Professors: Boggs, Corbett, Diskin, Maroney, Marshall, Sirmans, Stauber, Vickory;
Associate Professors: Eastman, Gatzlaff;
Assistant Professor: Dumm;
Kathryn Magee Kip Professor in Life Insurance: Marshall;
Independent Life & Accident Insurance Company Professor: Corbett

The Risk Management/Insurance and Real Estate degree programs are designed to meet the academic needs of professional insurance, risk management, and real estate practitioners. The term profession connotes an occupation requiring advanced education and training and the ability to meet standards deemed desirable for the protection of the public.

The Business Law curriculum is a nondegree, service program serving all students in the College of Business. A basic knowledge of business law is essential to the successful transaction of business and economic affairs. Advanced and specialized courses are available to students who wish a more comprehensive knowledge of business law in relation to such fields as accounting, finance, insurance, and real estate.

For information on graduate programs, refer to the Graduate Bulletin.

State of Florida Common Course Prerequisites

The State of Florida has identified common course prerequisites for this departments University degree programs. Specific prerequisites are required for admission into these upper-division programs and must be completed by the student at either a community college or a state university prior to being admitted to these programs. Students may be admitted into the University without completing the prerequisites, but may not be admitted into these programs.

The following lists the common prerequisites or their substitutions necessary for admission into these upper-division degree programs:

Risk Management/Insurance

  1. ACG X021 or ACG X001 and ACG X011;
  2. ACG X071;
  3. CGS X100 ;
  4. ECO X013;
  5. ECO X023;
  6. MAC X233 or MAC X230;
  7. STA X023 or QMB X100 (students at Florida State University may substitute STA X014).

Real Estate

  1. ACG X021 or ACG X001 and ACG X011;
  2. ACG X071;
  3. CGS X100 ;
  4. ECO X013;
  5. ECO X023;
  6. MAC X233 or MAC X230;
  7. STA X023 or QMB X100 (students at Florida State University may substitute STA X014).

Degree Programs

Risk Management/Insurance Program

The objective of the curriculum in risk management/insurance is to acquaint the student with the effects of risk and uncertainty upon business and society. The analysis of risk and the methods of meeting risk, as necessary tools of business management, are placed in proper perspective as parts of a broad business curriculum.

Students may coordinate their academic programs with the licensing examinations of the state of Florida and with the professional examinations of the Chartered Property and Casualty Underwriters (CPCU) program, the Chartered Life Underwriters (CLU) program, and other professional programs.

Requirements for a Major in Risk Management/Insurance

All students must complete 1) the University-wide baccalaureate degree requirements summarized in the Undergraduate Degree Requirements section of this General Bulletin, 2) the State of Florida common prerequisites for risk management/insurance majors, 3) the general business core requirements for risk management/insurance majors, 4) the general business breadth requirements for risk management/insurance majors, and 5) the major area requirements for risk management/insurance majors. Note: To be eligible to pursue a risk management/insurance major, students must meet the admission requirements of the College of Business. These admission requirements are described in the College of Business section of this General Bulletin.

General Business Core Requirements

All risk management/insurance majors must complete the following five (5) courses. A grade of C or better must be earned in each course.

BUL 3310 The Legal Environment of Business (3).
FIN 3403 Financial Management of the Firm (3).
GEB 3213 Business Communications (3).
MAN 3109 Organizational Behavior (3).
MAR 3023 Basic Marketing Concepts (3).

General Business Breadth Requirements

All risk management/insurance majors must complete five courses as follows. Each course selected must be completed with a grade of C or better.

REE 3043 Real Estate (3).
RMI 3011 Risk Management and Insurance(3).

Plus three (3) electives from the following list of courses:

FIN 3244 Financial Markets, Institutions, and International Finance Systems (3).
HFT 3240 Managing Service Organizations(3).
ISM 3011 Introduction to Management Information Systems (3).
MAN 3504 Services Operations Management(3).
MAN 3600 Multinational Business Operations (3).
MAN 4720 Strategic Management and Business Policy (3).
MAR 3700 Professional Selling (3).
QMB 3200 Quantitative Methods for Business Decisions (3).

Major Area Requirements

All risk management/insurance majors must complete six (6) courses as listed below. A grade of C or better must be earned in each course used to satisfy the risk management/insurance major area requirements.

RMI 4115 Life Insurance Products (3).
RMI 4224 Property and Casualty Insurance Products (3).
RMI 4292 Property and Casualty Insurance Operations (3).
RMI 4347 Commercial Risk Management (3).

Plus at least two (2) electives from the following list of courses:

RMI 4135 Employee Benefit Plans (3).
RMI 4295 Advanced Property and Casualty Insurance (3).
RMI 4420 Legal and Political Aspects of Insurance (3).

Students also should consider completing RMI 4308r Seminar in Risk and Its Control (3); topics in this course vary by term. Selection of electives should be made after consultation with a faculty adviser in order to satisfy the students interests and to qualify the student for the state licensing examination and professional designations.

Real Estate Program

The real estate program of the College of Business involves a multidisciplinary approach to the production, financing, marketing, and consumption of the real estate product. Students will be exposed to theoretical concepts from urban land economics, economics, consumer behavior, appraisal, investment analysis, and risk theory. Based on this background, the real estate process will be analyzed. In addition, the real estate program will develop a systematic methodology for investment and appraisal analysis within a framework that acknowledges the impacts of taxation, risk, financing structure, governmental constraints, and market context. This framework will provide the basis for examining decisions involving real property investment from the developer, lender, and consumer perspectives. Computer applications will be used within the curriculum to analyze actual cases.

Completion of the real estate major qualifies an individual to sit for the Florida salesperson license and appraisal certification examinations.

Requirements for a Major in Real Estate

All students must complete 1) the University-wide baccalaureate degree requirements summarized in the Undergraduate Degree Requirements section of this General Bulletin, 2) the State of Florida common prerequisites for real estate majors, 3) the general business core requirements for real estate majors, 4) the general business breadth requirements for real estate majors, and 5) the major area requirements for real estate majors. Note: To be eligible to pursue a real estate major, students must meet the admission requirements of the College of Business. These admission requirements are described in the College of Business section of this General Bulletin.

General Business Core Requirements

All real estate majors must complete the following five (5) courses. A grade of C or better must be earned in each course.

BUL 3310 The Legal Environment of Business (3).
FIN 3403 Financial Management of the Firm (3).
GEB 3213 Business Communications (3).
MAN 3109 Organizational Behavior (3).
MAR 3023 Basic Marketing Concepts (3).

General Business Breadth Requirements

All real estate majors must complete five (5) courses as follows. Each course selected must be completed with a grade of C or better.

REE 3043 Real Estate (3).
RMI 3011 Risk Management and Insurance (3).

Plus three (3) electives from the following list of courses:

FIN 3244 Financial Markets, Institutions, and International Finance Systems (3).
HFT 3240 Managing Service Organizations (3).
ISM 3011 Introduction to Management Information Systems (3).
MAN 3504 Services Operations Management (3).
MAN 3600 Multinational Business Operations (3).
MAN 4720 Strategic Management and Business Policy (3).
MAR 3700 Professional Selling (3).
QMB 3200 Quantitative Methods for Business Decisions (3).

Major Area Requirements

All real estate majors must complete the five (5) courses listed below. A grade of C or better must be earned in each course used to satisfy the real estate major area requirements.

REE 4103 Real Estate Appraisal (3).
REE 4143 Real Estate Market Analysis (3).
REE 4204 Real Estate Finance (3).
REE 4313 Real Estate Feasibility Analysis (3).
REE 4433 Legal Environment of Real Estate (3).

Selection of upper-division electives to satisfy the University-wide total hours requirement should be made after consultation with the students faculty adviser.

Definition of Prefixes

BUL Business Law
REE Real Estate
RMI Risk Management/Insurance

Undergraduate Courses

BUL 3310. The Legal Environment of Business (3). An introduction to the legal setting in which business operates. Emphasis on public and regulatory law and on the social, political, and ethical aspects of legal issues in business. Subjects include the nature of law and legal process, administrative law, business and the Constitution, statutory and common law, agency/unemployment law, and related topics.
BUL 3330. Law for Accountancy (4). Basic concepts of law as applied to the accounting profession, including contracts, agency, partnerships and corporations, property, wills and trusts, securities regulation, consumer protection, and antitrust. Students may not receive credit for both BUL 3310 and 3330.
BUL 3350. Uniform Commercial Code Business Law Problems (3). Prerequisite: BUL 3310 or 3330. Uniform Commercial Code. The law of sales, commercial paper, secured transactions, competition, and the antitrust laws; professional liability.
BUL 3360. The Law of Business (3). Prerequisite: BUL 3310. Business organizations and relations; the law of agency, partnerships, and corporations; real and personal property; environmental law.
REE 3043. Real Estate (3). Survey introduction to real estate, real estate evaluation, and real estate investment decision making. The course, in addition to REE 4433, meets the FREC educational requirement for real estate sales licensing.
RMI 3011. Risk Management/Insurance (3). Prerequisite: STA 3014. An introduction to the principles of risk management and insurance and their application to personal and business pure risk problems.

Business Majors Only

REE 4103. Real Estate Appraisal (3). Prerequisite: REE 3043. The course acquaints the student with the appraisal process and the basics of appraisal language. It also demonstrates the application of a variety of valuation techniques to both residential and income properties.
REE 4143. Real Estate Market Analysis (3). Prerequisites: REE 3043, 4103. (Note: REE 4103 and 4143 cannot be taken concurrently.) Topics in this course include techniques of real estate market analysis, survey research, and applications of computers to real estate problems.
REE 4204. Real Estate Finance (3). Prerequisites: REE 3043; FIN 3403. An intermediate treatment of real estate finance, investment, and tax analysis. Coverage includes mortgage markets, financing devices, and quantitative evaluation of real estate projects.
REE 4313. Real Estate Feasibility Analysis (3). Prerequisite: REE 3043. A course synthesizing real estate finance, investment analysis, and project planning. Project oriented, treating the comprehensive feasibility analysis process.
REE 4433. Legal Environment of Real Estate (3). Prerequisites: BUL 3310; REE 3043. An intermediate treatment of the legal environment of real estate and real estate decision making. The course emphasizes common law rules and legal considerations inherent in contemporary real property decisions. The course, in addition to REE 3043, meets the FREC educational requirements for real estate sales licensing.
REE 4970r. Honors Thesis (3). Prerequisite: Admission to the honors program. May be repeated to a maximum of six (6) semester hours. Six (6) semester hours of thesis are required to complete honors in the major.
RMI 4115. Life and Health Insurance Products (3). Prerequisite: RMI 3011. Analysis of personal and business life and health insurance needs, characteristics of plans appropriate to meet needs. Life insurance rating, receiving, underwriting, and financial statement analysis are also studied.
RMI 4135. Employee Benefit Plans (3). Prerequisite: RMI 3011. Study of basic concepts and managerial concerns underlying the group insurance mechanism and the characteristics of various qualified retirement planning vehicles.
RMI 4224. Property and Casualty Insurance Products (3). Prerequisite: RMI 3011. Analysis of more common basic insurance contracts their use and coverage afforded as a fundamental basis for understanding legal, underwriting, marketing, financial, and other insurance functions.
RMI 4292. Property and Casualty Insurer Operations (3). Prerequisites: RMI 3011, 4224; FIN 3403. A discussion of the composition, financial structure, and operations of the insurance industry. Special consideration is given to consumer problems and solutions.
RMI 4295. Advanced Property and Casualty Insurance (3). Prerequisites: RMI 3011, 4224. A study of business insurance problem evaluation and planning with proposed solutions utilizing comprehensive coverage packaged programs.
RMI 4308r. Seminar in Risk and Its Control (3). Prerequisite: Consent of instructor. May be repeated to a maximum of six (6) semester hours.
RMI 4347. Commercial Risk Management (3). Prerequisites: FIN 3403; RMI 4224. Application of the risk management process. Includes risk control, risk financing, and business risk management problems.
RMI 4420. Legal and Political Aspects of Insurance (3). Prerequisites: BUL 3310; RMI 3011. Insurance contracts and marketing judicial doctrines of contract construction, claims processes, insurance institutions, governmental regulation, and sponsorship of insurance.
RMI 4905r. Directed Individual Study (13). May be repeated up to three (3) times.
RMI 4970r. Honors Thesis (3). Prerequisite: Admission to the honors program. May be repeated to a maximum of six (6) semester hours. Six (6) semester hours of thesis are required to complete honors in the major.

Graduate Courses

BUL 5810. The Legal Environment of Business (3).
REE 5045. The Real Estate Process (3).
REE 5315. Real Estate Project Feasibility Analysis (3).
REE 5935r. Special Topics in Real Estate (1-3).
RMI 5136. Employee Benefit Plans (3).
RMI 5345. Risk Management in the Business Enterprise (3).
RMI 5906r. Directed Individual Study (1-3). (S/U grade only.)
RMI 5907r. Special Studies in Management (13).
RMI 5917r. Supervised Research (1-3).(S/U grade only.)
RMI 5935r. Special Topics in Risk Management and Insurance (1-3).
RMI 5946r. Supervised Teaching (1-3). (S/U grade only.)
RMI 6195. Doctoral Seminar in Insurance: Life/Health Insurance Topics (3).
RMI 6296. Doctoral Seminar in Insurance: Property/Liability Insurance Topics (3).
RMI 6395. Doctoral Seminar in Risk and Insurance Theory (3).
RMI 6917r. Supervised Research in Risk Management and Insurance (1-3). (S/U grade only.)
RMI 6946r. Supervised Teaching (1-3). (S/U grade only.)

For listings relating to graduate course work for thesis, dissertation, and masters and doctoral examinations and defense, consult the Graduate Bulletin.

RUSSIAN: see Modern Languages and Linguistics Studies