Faculty of Business and Economics

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Monash University Handbook 2011 Postgraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

FacultyFaculty of Business and Economics
OfferedCaulfield Second semester 2011 (Evening)
Caulfield Second semester 2011 (Weekend On-campus)


This unit is designed to develop the concept of risk transfer, or the insurance purchase decision, as an outcome of risk management decision-making. It discusses the concept and application of insurance and the principals underlying the insurance purchase, with emphasis on the relationship to the risk management process.


The learning goals associated with this unit are to:

  1. demonstrate an understanding of the risk transfer decision-making process and explain the concept of risk within an insurance framework
  2. outline the principles of risk allocation in non-insurance contracts
  3. explain the structure of the insurance industry and the functions of an insurance company
  4. outline the core concepts underlying the main insurance industry sectors of life, accident, health, property and liability
  5. discuss and comment on the implications of the growing convergence of the broader financial services industry
  6. demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFF5031.


Within semester assessment: 50%
Examination (3 hours): 50%

Chief examiner(s)

Michael Vincent