The undergraduate Certificate in Risk Management and Insurance (RMI) requires at least 23–35 s.h. of credit: 35 s.h. for BBA students with a major in finance, 34–35 s.h. for students with a major in mathematics (specialization in risk management and insurance or in finance), 23 s.h. for actuarial science majors, and 26 s.h. for other majors.
Students must maintain a grade-point average of at least 2.00 in work for the certificate. The certificate may be earned by any student admitted to the University of Iowa who is not concurrently enrolled in a graduate or professional degree program.
Students must declare their intent to earn the certificate with the RMI advisor. Some courses have prerequisites; students must complete prerequisites before they may register for a course. For more information, see Risk Management and Insurance Certificate on the Emmett J. Vaughan Institute of Risk Management and Insurance website.
The Certificate in Risk Management and Insurance requires the following coursework.
Foundation Courses
All students complete the following (11 s.h.).
| Course # | Title | Hours |
|---|---|---|
| ACCT:2100 | Introduction to Financial Accounting (not required for actuarial science majors) | 3 |
| ECON:1100 | Principles of Microeconomics | 4 |
| ECON:1200 | Principles of Macroeconomics | 4 |
RMI Courses
All students complete the following (15 s.h.).
| Course # | Title | Hours |
|---|---|---|
| One of these: | ||
| FIN:3000 | Introductory Financial Management | 3 |
| FIN:3300 | Corporate Finance (for actuarial science majors) | 3 |
| ISE:2500 | Engineering Economy (for engineering majors) | 3 |
| Both of these: | ||
| FIN:3400 | Principles of Risk Management and Insurance (with grade of C or higher) | 3 |
| FIN:4410 | Enterprise Risk Management | 3 |
| Two of these: | ||
| FIN:4420 | Property and Liability Insurance | 3 |
| FIN:4430 | Life and Health Insurance | 3 |
| FIN:4440 | Employee Benefit Plans | 3 |
| FIN:4450 | Risk Modeling | 3 |
| FIN:4460 | Insurer Operations and Captive Management | 3 |
Additional Coursework for Finance and Mathematics Majors
In addition to the above requirements, finance majors or mathematics majors (math program C, finance, and RMI tracks) also must complete the following courses.
Finance Major
BBA students majoring in finance complete three of these (9 s.h.).
| Course # | Title | Hours |
|---|---|---|
| BAIS:3025 | Business Process Automation | 3 |
| MGMT:4100 | Dynamics of Negotiations | 3 |
| MKTG:4200 | Sales Management | 3 |
| A maximum of three finance courses (prefix FIN) numbered 4000 or above, excluding those taken to satisfy RMI courses above | ||
Mathematics Major with Specialization
Students majoring in mathematics with a specialization in risk management and insurance or a specialization in finance complete three of these (8–9 s.h.).
| Course # | Title | Hours |
|---|---|---|
| ACCT:3020 | Financial Accounting and Reporting | 3 |
| ACCT:3200 | Income Measurement and Asset Valuation (accounting majors take this instead of ACCT:3020) | 3 |
| FIN:3100 | Financial Information Technology | 2 |
| FIN:3200 | Investment Management | 3 |
| FIN:3300 | Corporate Finance | 3 |
| FIN:4210 | Futures and Options | 3 |
| FIN:4220 | Fixed Income Securities | 3 |
| FIN:4230 | Real Estate Process | 3 |
| FIN:4320 | Commercial Banking | 3 |
Risk Management and Insurance Affiliated Courses
The Department of Finance offers seven courses affiliated with the Emmett J. Vaughan Institute of Risk Management and Insurance that are included in the Certificate in Risk Management and Insurance curriculum. Students should view the course descriptions and prerequisites for each of the courses below.
| Course # | Title | Hours |
|---|---|---|
| FIN:3400 | Principles of Risk Management and Insurance | 3 |
| FIN:4410 | Enterprise Risk Management | 3 |
| FIN:4420 | Property and Liability Insurance | 3 |
| FIN:4430 | Life and Health Insurance | 3 |
| FIN:4440 | Employee Benefit Plans | 3 |
| FIN:4450 | Risk Modeling | 3 |
| FIN:4460 | Insurer Operations and Captive Management | 3 |
Sample Plan of Study
Sample plans represent one way to complete a program of study. Actual course selection and sequence will vary and should be discussed with an academic advisor. For additional sample plans, see MyUI.
Risk Management and Insurance, Certificate
Finance Majors
| Academic Career | ||
|---|---|---|
| Any Semester | Hours | |
| This sample plan is intended for BBA students majoring in finance. | ||
| Students must successfully complete ECON:1100 Principles of Microeconomics and ECON:1200 Principles of Macroeconomics before beginning FIN:3400 Principles of Risk Management & Ins. | ||
| To declare the certificate students should be enrolled in FIN:3400 Principles of Risk Management & Ins. | ||
| Maintain a cumulative GPA of at least 2.00 in all courses, UI courses, RMI (Risk Management and Insurance) courses and UI RMI courses. | ||
| Meet with the RMI advisor for planning and to learn about additional benefits of the RMI certificate; more information is included in the General Catalog and on Tippie College of Business website. | ||
| Hours | 0 | |
| First Year | ||
| Any Semester | ||
| ECON:1100 | Principles of Microeconomics a | 4 |
| ECON:1200 | Principles of Macroeconomics a | 4 |
| Hours | 8 | |
| Second Year | ||
| Any Semester | ||
| ACCT:2100 | Introduction to Financial Accounting a, b | 3 |
| FIN:3400 | Principles of Risk Management and Insurance c | 3 |
| Hours | 6 | |
| Third Year | ||
| Any Semester | ||
| Certificate: RMI elective d | 3 | |
| Certificate: additional elective approved for finance majors e | 3 | |
| Hours | 6 | |
| Fall | ||
| FIN:3000 | Introductory Financial Management | 3 |
| FIN:4410 | Enterprise Risk Management f | 3 |
| Hours | 6 | |
| Fourth Year | ||
| Any Semester | ||
| Certificate: RMI elective d | 3 | |
| Certificate: additional elective approved for finance majors e | 3 | |
| Certificate: additional elective approved for finance majors e | 3 | |
| Hours | 9 | |
| Total Hours | 35 | |
- a
- Discuss transfer credit or credit by exam with advisor.
- b
- To be able to enroll in this course, students must have already completed the required minimum number of semester hours. See MyUI courses/registration page for details. The ACCT:2100 requirement is waived for actuarial science majors.
- c
- May be taken any semester after prerequisites are completed. May also be taken first semester of year three concurrently with FIN:3000. Students must obtain a grade of C or higher in FIN:3400.
- d
- Choose from FIN:4420, FIN:4430, FIN:4440, FIN:4450, or FIN:4460. Two RMI electives (6 s.h.) must be completed before graduation. Each course is offered only once per year. Typically at least two RMI elective courses are offered each fall and each spring. Some courses may satisfy the Tippie College of Business RISE requirement.
- e
- Three electives (9 s.h.) are required before graduation. These include any finance course (prefix FIN) numbered 4000 or above that has not been previously taken. Finance majors may also take MGMT:4100, MKTG:4200, or BAIS:3025.
- f
- This core required course is offered only in the fall. May be taken fall of year three or year four if prerequisite is completed. Course may satisfy the Tippie College of Business RISE requirement.