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Outline: • What RMI 2101 is about ? • Textbook required for the course • Prerequisites • Tips to pass RMI 2101 • Conclusion • introduction to the basic concepts in Risk Management
RMI 2101 • The course is divided into two distinct segments: Part I: help familiarize students with the basic aspects of risk and risk management as they apply to both firms and individuals. Part II: gives students an overview of the characteristics of insurance.
Textbook required • RISK MGMT&INS >CUSTOM< W/ACCESS HARDCVR (Used if available $99.15 / New $132.20) • Author: REJDA • edition: 3RDCUST • Publisher: PEARSON C • ISBN: 9781256365440 • RMI2101 BULK PACK F11-B12 (Used if available $43.00 / New $57.35) • Author: COPY CENTER • edition: F11B12 • Publisher: CAMPUS C C • ISBN: 2818280250477 N.B: required textbooks and Prices are subject to change so refer to your syllabus and Temple Bookstore
Prerequisites • According to the on-line course catalogue, the following is a list of courses the student should have had or should be currently taking: • Sophomore standing, Econ 1101 or 1102, Stat.1001 or equivalent
Want to pass RMI 2101??? • Make sure to do the following: • Read the syllabus carefully • Do the assigned reading prior to class • Read your notes after class while the material is still fresh in your head • Read Carefully the articles in the Bulk Pack • Take advantage of the resources available to you if you are having difficulties understanding the material • Professor’s office hours • TA(s)’s office hours • Be always prepared for class because you might have Unannounced quizzes
Conclusion • Familiarize yourself with the following terminology: • Peril: it is a cause of loss • Hazard: any condition that increases either the frequency ( likelihood) or/and severity ( impact) of a loss. There are four types of hazards: • Physical • Moral • Morale ( attitudinal) • Legal • Loss exposure : “Any condition or situation that presents a possibility of loss, regardless of whether loss actually occurs.” And the four risk areas are : • Property • Liability • Income • Personnel • Good Luck!