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2017-2018 Undergraduate 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: Cole; Professors: Born, Cole, Dumm, Gatzlaff, McCullough, G.S. Sirmans; Assistant Professors: Broxteman, Letdin, Marzen, Nyce, Prum; Associate Professor: Orozco; Teaching Faculty III in Legal Studies and Real Estate: Bailey, Woodyard; Teaching Faculty I in Risk Management and Insurance: McChristian; Research Faculty III in Risk Management and Insurance: Medders; J. Harold and Barbara M. Chastain Eminent Scholar in Real Estate: G.S. Sirmans; Payne H. and Charlotte Hodges Midyette Eminent Scholar in Risk Management and Insurance: Born; Francis J. Nardozza Scholar and Distinguished Research Fellow: C.F. 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 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 non-degree service program serving all students in the various business programs. 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.

Computer Skills Competency

All undergraduates at Florida State University must demonstrate basic computer skills competency prior to graduation. As necessary computer competency skills vary from discipline to discipline, each major determines the courses needed to satisfy this requirement. Undergraduate majors in risk management/insurance and real estate satisfy this requirement by earning a grade of "C–" or higher in CGS 2100 (state mandated business prerequisite requirement) or CGS 2518.

Note: CGS 2518 required for students in the Real Estate major and for students in the Risk Management/Insurance major and is prerequisite to all 4000-level real estate and risk management/insurance courses.

Required Risk in Business and Society Course

All undergraduates at Florida State University intending to enter a business major must complete RMI 2302, Risk in Business and Society, with a "C–" or better by the end of their sophomore year. Transfer students will be required to complete this course in their first semester at FSU.

State of Florida Common Program Prerequisites

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

At the time this document was published, some common program prerequisites were being reviewed by the state of Florida and may have been revised. Please visit https://dlss.flvc.org/admin-tools/common-prerequisites-manuals for a current list of state-approved prerequisites.

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

Risk Management/Insurance

  1. ACG X021 or ACG X022, or ACG X001 and ACG X011
  2. ACG X071 or ACG X301
  3. CGS X100 (or demonstrated competency) or CGS X100C or CGS X530 or CGS X570 or CGS X060 or CGS X531 or CGS X000 or ISM X000 or CGS X518
  4. ECO X013
  5. ECO X023
  6. MAC X233 or MAC X230
  7. STA X023 or STA X122 or QMB X100

Real Estate

  1. ACG X021 or ACG X022, or ACG X001 and ACG X011
  2. ACG X071 or ACG X301
  3. CGS X100 (or demonstrated competency) or CGS X100C or CGS X530 or CGS X570 or CGS X060 or CGS X531 or CGS X000 or ISM X000 or CGS X518
  4. ECO X013
  5. ECO X023
  6. MAC X233 or MAC X230
  7. STA X023 or STA X122 or QMB X100

Degree Programs

Risk Management/Insurance Program

The curriculum in risk management/insurance provides students with the knowledge necessary to analyze the impact of risk and uncertainty upon business and society. Students who major in risk management/insurance prepare for a career in insurance, consulting, financial services, or corporate risk management. Classes cover a variety of topics, including analysis of the risk management process with a focus on enterprise risk management.

Students may coordinate their academic programs with the licensing examinations of the State of Florida and with the professional examinations of the Certified Insurance Councilor (CIC), the Certified Risk Managers (CRM), the Certified Chartered Property and Casualty Underwriters (CPCU), the Associate in Risk Management (ARM), the Chartered Life Underwriters (CLU), 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" chapter of this General Bulletin
  2. The state of Florida common program 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
  5. The major area requirements for risk management/insurance majors

Students must be admitted to the major no later than the end of their fifth mapping term, as determined by the College of Business.

Note: To be eligible to pursue a risk management/insurance major, students must meet the admission requirements for the AACSB accredited business programs in the College of Business. These admission requirements are described in the "College of Business" chapter of this General Bulletin.

General Business Core Requirements

All risk management/insurance majors must complete the following six courses. A grade of "C–" or better must be earned in each course.

BUL 3310 The Legal and Ethical Environment of Business (3)

FIN 3403 Financial Management of the Firm (3)

GEB 3213 Business Communications (3)

ISM 3541 Introduction to Business Analytics (3)

MAN 3240 Organizational Behavior (3)

MAR 3023 Basic Marketing Concepts (3)

General Business Breadth Requirements

All risk management/insurance majors must complete the two courses as follows. Each course must be completed with a grade of "C–" or better.

REE 3043 Real Estate (3)

RMI 3011 Risk Management/Insurance (3)

Capstone Course

All risk management/insurance majors must complete the capstone class in Competitive Dynamics (MAN 4752).

Major Area Requirements

All risk management/insurance majors must complete six 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 electives from the following list of courses:

RMI 4135 Employee Benefit Plans (3)

RMI 4295 Advanced Property and Casualty Insurance (3)

RMI 4308r Seminar in Risk and Its Control (3) (Topics vary)

RMI 4420 Legal and Political Aspects of Insurance (3)

RMI 4941 Risk Management and Insurance Internship (3)

Selection of electives should be made after consultation with a faculty advisor in order to satisfy the student's interests and to qualify the student for the state licensing examinations and professional designations.

Honors in the Major

The Department of Risk Management/Insurance, Real Estate and Legal Studies offers honors in the major to encourage talented students to undertake independent and original research as part of the undergraduate experience. For requirements and other information see the "University Honors Office and Honor Societies" chapter of this General Bulletin.

Real Estate Program

The real estate program provides a foundation for students seeking a broad understanding of the real estate market and its participants. Students are introduced to such concepts as urban economics, market behavior, valuation, finance, investment analysis, and real estate law. In general, the curriculum is designed to develop the fundamental skills necessary to make effective real estate business, investment, and consumption decisions. More specifically, the program equips students to enter a wide variety of real estate related professions (e.g. investment and portfolio analysis, institutional lending and mortgage banking, brokerage, appraisal, property management, and property development).

Students may coordinate their academic programs with licensing examinations of the State of Florida. Completion of the real estate major partially fulfills the requirements to be licensed as a real estate sales associate, or certified as a general appraiser, in the State of Florida.

Requirements for a Major in Real Estate

All students must complete:

  1. The University-wide baccalaureate degree requirements summarized in the "Undergraduate Degree Requirements" chapter of this General Bulletin
  2. The state of Florida common program 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
  5. The major area requirements for real estate majors

Students must be admitted to the major no later than the end of their fifth mapping term, as determined by the College of Business.

Note: To be eligible to pursue a real estate major, students must meet the admission requirements for the AACSB accredited business programs in the College of Business. These admission requirements are described in the "College of Business" chapter of this General Bulletin.

General Business Core Requirements

All real estate majors must complete the following six courses. A grade of "C–" or better must be earned in each course.

BUL 3310 The Legal and Ethical Environment of Business (3)

FIN 3403 Financial Management of the Firm (3)

GEB 3213 Business Communications (3)

ISM 3541 Introduction to Business Analytics (3).

MAN 3240 Organizational Behavior (3)

MAR 3023 Basic Marketing Concepts (3)

General Business Breadth Requirements

All real estate majors must complete the two courses as follows. Each course must be completed with a grade of "C–" or better.

REE 3043 Real Estate (3)

RMI 3011 Risk Management and Insurance (3)

Capstone Course

All real estate majors must complete the capstone class in Competitive Dynamics (MAN 4752).

Major Area Requirements

All real estate majors must complete the five 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 Valuation (3)

REE 4143 Real Estate Market Analysis (3)

REE 4204 Real Estate Finance (3)

REE 4313 Real Estate Investment (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 student's faculty advisor.

Honors in the Major

The Department of Risk Management/Insurance, Real Estate and Legal Studies offers honors in the major to encourage talented students to undertake independent and original research as part of the undergraduate experience. For requirements and other information see the "University Honors Office and Honor Societies" chapter of this General Bulletin.

Definition of Prefixes

BUL—Business Law

REE—Real Estate

RMI—Risk Management and Insurance

Undergraduate Courses

BUL 3310. The Legal and Ethical Environment of Business (3). This course offers an introduction to the legal setting in which business operates. Emphasis is 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, and related topics.

BUL 3330. Law for Accountancy (3). This course surveys basic concepts of law as applied to the accounting profession, including contracts, agencies, partnerships and corporations, property, wills and trusts, securities regulation, consumer protection, and antitrust. Students may not receive credit for both BUL 3310 and BUL 3330.

BUL 3350. Uniform Commercial Code Business Law Problems (3). Prerequisite: BUL 3310 or BUL 3330. This course explores Uniform Commercial Code, the law of sales, commercial paper, secured transactions, competition, and the antitrust laws; professional liability.

BUL 3351. UCC and Law for Accountancy (3). This course exposes students to the basic concepts of law as applied to the accounting profession. The focus of the course is on the application and analysis of legal and ethical principles.

ISM 3541. Introduction to Business Analytics (3). This is an introductory course intended to familiarize students with basic business analytics concepts and applications. It will cover the principles of data analytic thinking and provide a solid foundation for data driven decision making in various business and organizational settings. The course will place special emphasis on working through applications and examples of analytics in the real world.

REE 3043. Real Estate (3). This course is a 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.

REE 4103. Real Estate Valuation (3). Prerequisite: REE 3043. This course acquaints students with the valuation process and the basics of valuation terminology. 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 and REE 4103. This course includes topics such as techniques of real estate market analysis, survey research, and applications of computers to real estate problems. (Note: REE 4103 and REE 4143 cannot be taken concurrently.)

REE 4204. Real Estate Finance (3). Prerequisites: REE 3043 and FIN 3403. This course is 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 Investment (3). Prerequisites: REE 3043 and REE 4103 or REE 4204 or departmental permission. This course introduces students to the analytical tools and procedures used to evaluate real estate investments. The course focuses on the topic of real estate investment analysis, primarily from the private investors' perspective.

REE 4433. Legal Environment of Real Estate (3). Prerequisites: BUL 3310 and REE 3043. This course is 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 4905r. Directed Individual Study (1–3). May be repeated to a maximum of nine semester hours.

REE 4941. Real Estate Internship (3). (S/U grade only.) Prerequisite: Instructor permission. This internship is designed for College of Business students who desire to gain real-world experience in the real estate field through on-the-job practice. Students work under the direction of an approved industry professional, a faculty advisor, and the internship director.

REE 4970r. Honors Thesis (1–6). Prerequisite: Admission to the honors program. May be repeated to a maximum of nine semester hours. Six semester hours of thesis are required to complete honors in the major.

RMI 2000. Practice of Risk Management (2). (S/U grade only.) This course reflects the most current developments in risk management.

RMI 2001. Principles of Risk Management (1). (S/U grade only.) This course is a survey of the general principles of risk management and their role in business.

RMI 2110. Personal Insurance Planning (3). This course is an introduction to personal risk exposure. The course integrates life, health, property, liability, private, and governmental programs.

RMI 2113. Personal Lines Insurance (2). (S/U grade only.) This course provides a thorough review of personal lines insurance principles and exposures.

RMI 2180. Benefits (2). (S/U grade only.) This course reflects the most current developments in insurance benefits.

RMI 2212. Personal and Business Property Insurance (3). This course provides an overview of property risks and coverages. Insurer operations are discussed in detail. Social problems associated with the risks are discussed as well as the impact of inland marine, transportation, and multi-peril coverages.

RMI 2214. Commercial Property Insurance (2). (S/U grade only.) This course provides a thorough review of commercial property principles and exposures.

RMI 2215. Commercial Casualty Insurance (2). (S/U grade only.) This course provides a thorough review of commercial liability principles and exposures.

RMI 2301. Analysis of Risk Management (2). (S/U grade only.) This course covers the concepts relating to the analysis of risk.

RMI 2302. Risk in Business and Society (3). This course is designed to enhance student understanding of risk and its implications for individuals, business, and society. The course focuses on the impact of uncertainty on decisions and the risk-reward tradeoff. Students analyze the implications of risk in a variety of settings.

RMI 2310. Risk Financing (2). (S/U grade only.) This course reflects the most current developments in risk financing.

RMI 2340. Risk Control (2). (S/U grade only.) This course reflects the most current developments in risk control.

RMI 2662. Introduction to Risk Management and Insurance (3). This course is an introduction to the principles, practices, and economics of insurance. The focus of the course is the relationship of fire, life and casualty contracts to business and contingency risks.

RMI 2700. Agency Management (2). (S/U grade only.) This course reflects the most current techniques and theories for agency management.

RMI 3011. Risk Management/Insurance (3). This course is an introduction to the principles of risk management and insurance and their application to personal and business pure risk problems.

RMI 4115. Life and Health Insurance Products (3). Prerequisite: RMI 3011. This course analyzes 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. This course studies 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. This course analyzes 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). Prerequisite: RMI 3011. This course discusses 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). Prerequisite: RMI 4224. This course studies business insurance problem evaluation and planning with proposed solutions utilizing comprehensive coverage package programs.

RMI 4308r. Seminar in Risk and Its Control (3). Prerequisite: Instructor permission. Topics vary. May be repeated to a maximum of six semester hours.

RMI 4347. Commercial Risk Management (3). Prerequisite: RMI 4224. This course studies the 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 and RMI 3011. This course studies insurance contracts and marketing—judicial doctrines of contract construction, claims processes, insurance institutions, governmental regulation, and sponsorship of insurance.

RMI 4905r. Directed Individual Study (1–3). May be repeated up to three times.

RMI 4941. Risk Management/Insurance Internship (3). Prerequisites: RMI 3011 and six additional hours of business/risk management and insurance coursework. This internship is designed for College of Business students who desire to gain real-world experience in the risk management/insurance field through on-the-job practice. Students work under the direction of an approved industry professional, a faculty advisor, and the internship director.

RMI 4970r. Honors Thesis (1–6). Prerequisite: Admission to the honors program. May be repeated to a maximum of nine semester hours. Six semester hours of thesis are required to complete honors in the major.

Graduate Courses

BUL 5810. The Legal and Ethical Environment of Business (1–4).

BUL 5907r. Directed Individual Study (1–3).

REE 5105. Real Estate Valuation (3).

REE 5205. Topics in Real Estate Finance (3).

REE 5209. Advanced Real Estate Finance and Investment (3).

REE 5305. Real Estate Investment (3).

REE 5315. Real Estate Project Feasibility Analysis (3).

REE 5435. Real Estate and Its Legal Environment (3).

REE 5907r. Directed Individual Study (1–3)

REE 5935r. Special Topics in Real Estate (1–3).

RMI 5017. Fundamentals of Risk and Insurance (3).

RMI 5018. Alternative Risk Financing (3).

RMI 5087. International Risk Management (3).

RMI 5136. Employee Benefit Plans (3).

RMI 5225C. Property/Liability Insurance Contract Analysis (3).

RMI 5345. Risk Management in the Business Enterprise (3).

RMI 5710C. Insurance Company Operations (3).

RMI 5720C. Insurance Accounting and Finance (3).

RMI 5810. Personal Financial Planning (3).

RMI 5906r. Directed Individual Study (1–3). (S/U grade only.)

RMI 5907r. Special Studies in Management (1–3).

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 (1–3). (S/U grade only.)

RMI 6946r. Supervised Teaching (1–3). (S/U grade only.)

For listings relating to graduate coursework for thesis, dissertation, and master's and doctoral examinations and defense, consult the Graduate Bulletin.

RUSSIAN:

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