The Certificate in Risk Management and Insurance (RMI) requires at least 26-35 s.h. of credit: 35 s.h. for B.B.A. 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 g.p.a. 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 purpose of the certificate program is to prepare undergraduate students, regardless of their chosen major, for a career in risk management and insurance. The curriculum offers students the opportunity to develop necessary knowledge and skills. Risk management is a growing field as industries are recognizing the need to manage risks across the enterprise, and insurance is the most common tool to manage pure risks.

The Certificate in Risk Management and Insurance requires the following course work.

Foundation Courses

All students complete the following (11 s.h.).

ACCT:2100Introduction to Financial Accounting (not required for actuarial science majors)3
ECON:1100Principles of Microeconomics4
ECON:1200Principles of Macroeconomics4

RMI Courses

All students complete the following (15 s.h.).

One of these:
FIN:3000Introductory Financial Management3
FIN:3300Corporate Finance (for actuarial science majors)3
IE:2500Engineering Economy (for engineering majors)3
Both of these:
FIN:3400Principles of Risk Management and Insurance (with grade of C or better)3
FIN:4410Corporate and Financial Risk Management3
Two of these:
FIN:4420Property and Liability Insurance3
FIN:4430Life and Health Insurance3
FIN:4440Employee Benefit Plans3
FIN:4450Risk Modeling3

Additional Course Work 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

B.B.A. students majoring in finance complete three of these (9 s.h.).

MGMT:4100Dynamics of Negotiations3
MKTG:4200Sales Management3
MSCI:3025VBA Spreadsheet Programming3
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 compete three of these (8-9 s.h.).

ACCT:3020Financial Accounting and Reporting3
ACCT:3200Income Measurement and Asset Valuation (accounting majors take this instead of ACCT:3020)3
FIN:3100Financial Information Technology2
FIN:3200Investment Management3
FIN:3300Corporate Finance3
FIN:4210Futures and Options3
FIN:4220Fixed Income Securities3
FIN:4230Real Estate Process3
FIN:4320Commercial Banking3

Risk Management and Insurance Affiliated Courses

The Department of Finance offers six 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. See Finance in the Catalog for course descriptions and prerequisites.

FIN:3400Principles of Risk Management and Insurance3
FIN:4410Corporate and Financial Risk Management3
FIN:4420Property and Liability Insurance3
FIN:4430Life and Health Insurance3
FIN:4440Employee Benefit Plans3
FIN:4450Risk Modeling3