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LOMA
280—Principles of Insurance: Life, Health,
and Annuities
Also available in Spanish,
French, Traditional
and Simplified Chinese, Korean
and Portuguese.
-
Explain
how life and health insurance help people
manage risk
-
Describe
the features of individual and group life and
annuity coverages, riders, policy provisions,
and settlement options
-
Identify
and describe the major types of managed care
coverages and compare plan features with
features of traditional indemnity health
plans
-
Distinguish
among various types of retirement income and
pension plans
-
Identify
effective solutions for internal and external
customers’ questions and problems
LOMA 290—Insurance Company
Operations
Also available in Spanish,
French, Bahasa
Indonesia, Traditional and
Simplified Chinese, and Portuguese.
-
Describe
the essential operations of life insurance
companies, including identifying target
customers, developing and distributing
products, underwriting, administering claims,
protecting solvency, managing information,
and strategic decision making
-
Explain
changes in the regulatory environment and the
insurer’s role in the economy
-
Discuss
the need for cooperation among all functional
areas of an insurance company
LOMA 301—Insurance Administration
Also available in Spanish,
French, Bahasa
Indonesia, Traditional and
Simplified Chinese, Korean and Portuguese.
- Explain
the insurance administration activities
associated with underwriting individual and
group life and health insurance
- Explain
how reinsurance works and identify the
fundamentals of administering reinsurance
agreements
- Explain
the process of administering claims for life,
medical, and disability income insurance and
recognize situations that may involve
misrepresentation or fraud
- Recognize
the importance of policyowner service to
customers, your company, and the insurance
industry and learn ways to provide quality
service
- Describe
the process of administering annuities
Program
Update
In May 2004, LOMA 310 was replaced in the FLMI Program curriculum with LOMA
311—Business Law for Financial Services Professionals. Canadian students
may still fulfill the FLMI Program requirements with LOMA 315.
LOMA
311—Business Law for Financial Services Professionals
-
Learn
the basic features of the legal environment in which financial services
companies operate globally
-
Understanding
general business law principles including contract law, agency law, and
property law that affect all businesses
-
Gain insight on legal rights and obligations of financial services
companies are affected when they market and service financial products
LOMA 315—Legal
Aspects of Life and Health Insurance—Canada
Also available in French.
-
Describe
the functions of insurance regulations,
administrative rules, and statutory
requirements
-
Explain
contract law and the concept of agency
-
Explain
the legal basis for essential insurance
functions, including beneficiary designations
and changes, settlement agreements, wills,
trusts, assignments, policy contests, and
reinstatement
-
Discuss
how to avoid common errors in policy handling
and customer relationships
LOMA 320—Life and Health Insurance Marketing
Also available in Spanish,
French, and Traditional
and Simplified Chinese.
-
Discuss
how strategic marketing principles and
practices are applied in the life and health
insurance industry
-
Explain
methods used by insurers to strengthen and
improve customer relationships
-
Explain
how life and health insurance products are
developed, priced, and distributed
-
Explain
how insurance companies use personal contact,
advertising, sales promotion, and publicity
to market products
-
Describe
the regulatory environment surrounding life
and health insurance and discuss the role
that ethics plays in insurance marketing
-
Explain
the challenges facing insurers in marketing
products in a global marketplace
LOMA 330—Management Principles and Practices
Also available in French,
and Traditional and Simplified
Chinese.
-
Develop
useful skills in planning, problem solving,
and decision making
-
Explain
the need for strategic planning and
management functions
-
Explain
the close relationship between your work
functions and the overall purpose of your
company
-
Explain
your role within your company’s management
process and your need to assume
responsibility and for your performance
-
Identify
effective communication methods that enhance
work processes and internal morale
LOMA 340—Information Management in Insurance
Companies
Also available in Spanish,
French, and Traditional
and Simplified Chinese.
-
Explain
the importance and functions of information
systems in insurance companies
-
Describe
the processes involved in creating and
maintaining databases and inferential
statistics that can be applied to analyzing
your work processes
-
Explain
basic descriptive and inferential statistics
and basic management models to use in
decision making
Program
Update
LOMA 340 will be discontinued December 31, 2004. The course will be replaced
in the FLMI Program by LOMA 356—Investments and Institutional Investing.
Students must complete all FLMI Program requirements by December 31, 2007 or
lose credit towards the designation for LOMA 340 only. After December 31, 2004
students with no prior credit for LOMA 340 or LOMA 356 must take LOMA 356 to
earn the FLMI.
LOMA
356—Investments and Institutional Investing
-
Understand the investment
environment and general principles of investing
-
Learn the principals of
investing in both individual securities and portfolios of securities
-
Explain roles,
administrative systems and processes, goal setting, performance review,
and risk management of institutional investing
LOMA 351—Financial Services Environment
Also available in French,
and Traditional and Simplified
Chinese.
-
Explain
basic microeconomic and macroeconomic
concepts
-
Interpret
graphs illustrating demand and supply
-
Distinguish
among the major types of money market and
capital market instruments used by
individuals and businesses
-
Explain
the origin, behavior, and structure of
interest rates
-
Describe
the major types of financial institutions,
including the products they offer and typical
assets and liabilities of each
-
Describe
the impact of asymmetric information on the
financial services environment
-
Discuss
steps that financial institutions can take to
manage the risks they face
-
Describe
how financial institutions create money and
how central banks control the supply of money
in an economy
LOMA 361—Accounting and Financial Reporting in
Life and Health Insurance Companies
Also available in French
and Traditional and Simplified
Chinese.
-
Explain
the basic accounting functions in life and
health insurance companies
-
Distinguish
between GAAP and statutory accounting
practices, and their importance to insurers,
regulators, and other parties
-
Describe
the uses of insurers’ major financial
reports
-
Apply
accounting principles to record and report
typical insurance transactions
-
Recognize
the importance of management accounting,
budgeting, and cost accounting to insurance
company operations, planning, and control
-
Explain
how to conduct and interpret financial
statement analyses using financial ratios
-
Explain
the purposes of auditing and internal
accounting controls
LOMA 371—Managing for Solvency and Profitability
in Life and Health Insurance Companies
Also available in French
and Traditional and Simplified
Chinese.
-
Discuss
the importance of solvency and profitability
and how they are measured
-
Discuss
the economic and financial implications of
the risk/return trade-off and the trade-off
between current profit and long-term growth
-
Identify
the factors insurers must consider when
developing and pricing products
-
Use
an asset-share model to price products profitably
-
Explain
the effects of new business strain on
reserves and capital
-
Explain
how capital management and asset/liability
management are applied in insurance companies
-
Apply
various tools for monitoring financial
performance, and discuss the role of rating
agencies and regulations in solvency
surveillance
-
Explain
the financial underpinnings of a life and
health insurance company
-
Discuss
the importance of expense control and revenue
growth to a company’s long-term success
For complete details on each
course including study materials information, download LOMA's
Education and Training Catalog. |
