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2017-2018 Graduate Bulletin

Department of Risk Management/Insurance, Real Estate and Legal Studies

College of Business

Web Page: http://business.fsu.edu/academics/departments/rmi-real-estate-legal/

Chair: Cassandra Cole; Professors: Born, Cole, Dumm, Gatzlaff, McCullough, G.S. Sirmans; Associate Professor: Orozco; Assistant Professors: Broxterman, Letdin, Marzen, Nyce, Prum; Teaching Faculty III in Legal Studies and Real Estate: Bailey, Woodyard; Teaching Faculty I: Corbett, Jackson, Jones, McChristian; Research Faculty III: C.F. Sirmans; Teaching Faculty II in Risk Management and Insurance: Medders; J. Harold and Barbara M. Chastain Eminent Scholar in Real Estate: C.F. Sirmans; Payne H. and Charlotte Hodges Midyette Eminent Scholar in Risk Management and Insurance: Born; Kenneth G. Bacheller Professor of Real Estate: G.S. Sirmans; Mark C. Bane Professor in Business Administration: Gatzlaff; State Farm Professor of Risk Management and Insurance: McCullough; Robert L. Atkins Professor in Risk Management and Insurance: Cole; Dr. William T. Hold/The National Alliance Professor in Risk Management and Insurance: Dumm;

The Department of Risk Management/Insurance, Real Estate and Legal Studies is comprised of three distinct curricular areas: (1) risk management/insurance, (2) real estate, and (3) business law. The risk management/insurance program offers a doctoral degree (PhD) with a concentration in risk management/insurance, a master’s degree in risk management-insurance (MS/RMI), and a bachelor’s degree with a major in risk management/insurance. The real estate program offers a specialization in real estate finance and analysis in the MBA program, a doctoral program support area, a graduate certificate in real estate development, and a bachelor’s degree with a major in real estate. The business law curriculum is a non-degree service program providing core courses for all majors in the college, as well as courses tailored for specific majors at the graduate and undergraduate level. The department’s programs and faculty are consistently recognized as among the nation’s best. The department is committed to having preeminent programs in risk management/insurance, real estate and business law, as well as nationally prominent faculty in each of its three curricular areas.

Doctoral Program

The College of Business offers a doctoral program in business administration and a master’s program in risk management. The doctoral concentration in the Department of Risk Management/Insurance is designed to give students broad preparation in the theory and practice of modern risk management and employee benefits administration, based on foundation knowledge of the insurance contract and institution. The faculty is committed to working closely with a few students and seeing those students to a timely completion of their programs. The areas of expertise represented by the faculty allow students to pursue various research and teaching interests as they prepare for careers in academic institutions.

Online Master’s Programs

The Master of Science program in risk management-insurance is designed for risk management and insurance professionals. The convergence in the financial services marketplace requires insurance, brokerage, and banking managers to have a much broader base of knowledge in order to effectively compete. The insurance major in the master’s program addresses this need. It is offered on a distance-learning basis to allow the working professional to obtain a degree.

The College of Business also offers an online Master of Business Administration (MBA) program in which students may choose to specialize in real estate finance and analysis. Demand for graduate education in real estate has increased dramatically over the last decade due to advancements in the real estate finance and investment markets. This includes increased involvement of institutions in commercial real estate investment and lending activities, growth in the securitization of real estate equity and debt assets on Wall Street (e.g., REITs, MBSs, and CMBSs), and consolidation of regional real estate service firms into larger national and international entities. Substantial opportunities exist in the real estate market for graduates trained in commercial real estate finance and investment.

Requirements

The Master of Science program in risk management-insurance requires completion of thirty-three semester hours of graduate level coursework. The doctoral program primary area consists of coursework in the area of risk management/insurance, as well as support area work and the analytical and research tools courses. Typical support areas for risk management/insurance majors include finance and real estate, but there is flexibility to match the interests of the particular student.

For additional information related to graduate Risk Management/Insurance, Real Estate and Legal Studies programs, contact the Gradate Office, College of Business, P.O. Box 3061110, Florida State University, Tallahassee, FL, 32306-1110, or via e-mail at gradprograms@business.fsu.edu.

Definition of Prefixes

BUL—Business Law

REE—Real Estate

RMI—Risk Management and Insurance

Graduate Courses

Master’s

Note: The 5000-level courses are reserved exclusively for graduate students. No courses carrying both undergraduate and graduate credit are offered. Courses which may be repeated for credit are designated by “r” immediately following the course number.

BUL 5810. The Legal and Ethical Environment of Business (1–4). This course creates an awareness of the laws and of the legal, political, and social institutions impacting business activity. The course emphasizes public law and governmental regulation, ethics and corporate governance, as well as landmark legislation and judicial decisions.

BUL 5907r. Directed Individual Study (1–3). Prerequisite: Consent of Associate Dean for Academic Programs. May be repeated to a maximum of nine semester hours.

REE 5105. Real Estate Valuation (3). This course provides an advanced treatment of real estate valuation analysis. This includes a description of valuation procedures, identification of highest and best use, application of real property valuation methods, and emerging topics of special interest.

REE 5205. Topics in Real Estate Finance (3). This course provides an advanced treatment of topics fundamental to real estate finance. The course topics are presented in units that range from pricing mortgages to the lending process to the secondary mortgage. Topics include a discussion of primary and secondary mortgage markets, mortgage market operations, mortgage instruments and mortgage-related securities. Emerging topics of special interest are also discussed.

REE 5209. Advanced Real Estate Finance and Investment (3). This course provides advanced treatment of the commercial mortgage and real estate equity markets. Topics include in-depth discussion of financing income-producing properties; commercial mortgage underwriting; real estate investment trusts; and the decisions faced by institutions regarding their property and mortgage portfolios. Emerging topics of special interest also are discussed.

REE 5305. Real Estate Investment (3). This course introduces students to the procedures and analytical methods used to evaluate real estate markets and project-specific investments. The courses focuses on the topic of real estate investment analysis primarily from the private (equity) investor’s perspective.

REE 5315. Real Estate Project Feasibility Analysis (3). Introduction to real estate decision-making process for determination of real estate site use or investment being used, dealt with, or pursued.

REE 5435. Real Estate and Its Legal Environment (3). This course presents an overview of the real estate markets and the laws affecting land use. This course provides an advanced treatment of the legal environment of real estate, including those issues related to property ownership and its transfer, and the contracts applied in the acquisition, operation, and disposition of property.

REE 5907r. Directed Individual Study (1–3). Prerequisite: Consent of Associate Dean for Academic Programs. May be repeated to a maximum of nine semester hours.

REE 5935r. Special Topics in Real Estate (1–3). In-depth study of current topics in real estate. May be repeated to a maximum of nine semester hours when topics change.

RMI 5017. Fundamentals of Risk and Insurance (3). This course develops concepts such as time value of money, statistical analysis, information technology, and management of risk exposure. Topics include risk fundamentals, risk management, insurer operations, and insurance regulation.

RMI 5018. Alternative Risk Financing (3). This course evaluates how corporations and insurance companies finance risk. The course covers the basic financial tools that are used in risk financing, the traditional and alternative risk financing techniques corporations use, and the unique risk financing techniques used by insurance companies.

RMI 5087. International Risk Management (3). Prerequisite: BUL 5810. This course addresses risk management and insurance from an international perspective.

RMI 5136. Employee Benefit Plans (3). Managerial approach to employee benefit plans such as group insurance and pensions with in-depth consideration given to funding instruments and variety among plans.

RMI 5225C. Property/Liability Insurance Contract Analysis (3). Prerequisite: RMI 5017. This course analyzes basic commercial property and liability insurance contracts, including commercial property, commercial general liability, crime, inland marine, boiler and machinery, commercial auto and farm policies.

RMI 5345. Risk Management in the Business Enterprise (3). Application of the risk management process, including risk control and risk financing techniques, to business risk management problems.

RMI 5710C. Insurance Company Operations (3). Prerequisite: RMI 5017. This course covers the fundamentals of risk, the management of pure risk, insurance mechanisms, insurer operations, and the evolution of risk management.

RMI 5720C. Insurance Accounting and Finance (3). Prerequisite: RMI 5017. This course is a survey of accounting and finance, financial statement analysis, and statutory requirements for insurance companies.

RMI 5810. Personal Financial Planning (3). Prerequisite: RMI 5017. This course analyzes loss exposures facing individuals and families, basic personal-lines property-liability insurance (auto and homeowners), individual life, health and disability insurance, and individual/family financial planning.

RMI 5906r. Directed Individual Study (1–3). (S/U grade only). Prerequisite: Consent of associate dean for academic programs. May be repeated to a maximum of three times.

RMI 5907r. Special Studies in Management (1–3). Prerequisite: Consent of associate dean for academic programs. May be repeated to a maximum of three times.

RMI 5917r. Supervised Research (1–3). (S/U grade only). Prerequisite: Consent of associate dean for academic programs. For Master’s candidates only. A maximum of three hours may apply toward the master’s degree. May be repeated to a maximum of five semester hours.

RMI 5935r. Special Topics in Risk Management and Insurance (1–3). This course evaluates how corporations and insurance companies finance risk.

RMI 5946r. Supervised Teaching (1–3). (S/U grade only). Prerequisite: Consent of associate dean for academic programs. A maximum of three hours may apply to the master’s degree. May be repeated to a maximum of five semester hours.

RMI 5971r. Thesis (3–6). (S/U grade only). A minimum of six semester hours is required.

RMI 8966r. Master’s Comprehensive Examination (0). (P/F grade only.)

RMI 8976r. Master’s Thesis Defense (0). (P/F grade only.)

Doctoral

Note: The doctoral curriculum includes courses selected from the following in addition to those offered at the 5000 level. In exceptional cases master’s candidates may elect 6000 level courses with permission of the instructor and the associate dean for academic programs.

RMI 6195. Doctoral Seminar in Insurance: Life/Health Insurance Topics (3). Review of current literature and theory in life/health insurance, including product development, management and regulation of life insurance companies, and the place of life insurance companies in the capital markets.

RMI 6296. Doctoral Seminar in Insurance: Property/Liability Insurance Topics (3). Review of current literature and theory in property/liability insurance, including product development, management and regulation of property/liability insurance companies, and the place of property/liability insurance companies in the capital markets.

RMI 6395. Doctoral Seminar in Risk and Insurance Theory (3). Review of literature in the theoretical foundations of risk and insurance, including the concept of risk, contributions from other disciplines, determinants of insurance consumption and risk management decisions, and industry dynamics.

RMI 6917r. Supervised Research (1–3). (S/U grade only). Prerequisite: Consent of associate dean for academic programs. May be repeated to a maximum of five semester hours.

RMI 6946r. Supervised Teaching (1–3). (S/U grade only). Prerequisite: Consent of associate dean for academic programs. May be repeated to a maximum of five semester hours.

RMI 6980r. Dissertation (1–12). (S/U grade only). A minimum of twenty-four semester hours is required.

RMI 8964r. Doctoral Preliminary Examination (0). (P/F grade only.)

RMI 8985r. Dissertation Defense Examination (0). (P/F grade only.)

RUSSIAN:

see Modern Languages and Linguistics