Faculty of Business and Economics

Postgraduate - Unit

This unit entry is for students who completed this unit in 2014 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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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, or view unit timetables.

FacultyFaculty of Business and Economics
Organisational UnitDepartment of Banking and Finance
OfferedCaulfield First semester 2014 (Evening)
Caulfield Second semester 2014 (Evening)
Caulfield Second semester 2014 (Weekend On-campus)
Coordinator(s)Mr Hans Buettner


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 BFF5031.


Within semester assessment: 100%

Chief examiner(s)

Workload requirements

Minimum total expected workload equals 144 hours per semester


AFF9020 or BFF5902