Insurance Proficiency Certificate
Description:
The Insurance Proficiency Certificate is a 16-credit hour credential for students who are interested in becoming insurance sales agents, a career path that does not require an associate or undergraduate degree, as well as for those individuals who wish to learn more about protecting and managing risk for business and other reasons. Students learn the concept of risk and the methods of insurance. The students learn to analyze and synthesize the many types of exposure to loss, to alternative methods of treating such exposures, and to the role of insurance in personal and business affairs. The Insurance Proficiency Certificate supports preparation for the two Pennsylvania brokerage insurance licensing exams. The Insurance Proficiency Certificate includes four mandatory classes with two pathways for the electives. The first pathway, which is shorter, focuses on finances and the student takes Financial Accounting (ACCT 101). The second pathway focuses on data analysis and provides a possibility for students to focus on real estate.
Program Learning Outcomes:
Upon successful completion of the Insurance proficiency certificate, students will be able to:
- Determine the types of loss exposure, the alternative methods of treating such exposures, the role of insurance in personal and business affairs, the legal framework surrounding the insurance mechanism, and the regulation of insurance.
- Evaluate specific aspects of property-casualty insurance, including market conditions, need, regulations, methods of selling, and how financial performance of property-casualty insurers is evaluated.
- Describe, evaluate, and critique specific aspects of automobile insurance, including the ways automobile accident victims are compensated, how high-risk drivers are able to obtain automobile insurance, and how sections of the Personal Auto Policy and endorsements are used to handle automobile loss exposures.
- Identify, describe, and evaluate the sections of the Homeowners Policy and endorsements that are used to handle property and liability loss exposures including the Dwelling and Mobile Home Policies, the National Flood Insurance Program, and the residual market programs for those underserved by the voluntary market and those overly exposed to wind.
Describe and analyze the property-liability commercial insurance policies, including commercial property, business income, commercial crime, equipment breakdown, general liability, commercial auto, workers compensation and employer’s liability, business owners, farm and specialty coverages.
Program Entry Requirements:
The Insurance Proficiency Certificate is open to interested students. New students are normally required to take the College’s placement test at their time of entry. Students who are identified as needing developmental course work must satisfactorily complete the appropriate English and mathematics courses as part of the certificate when applicable. Students who take ECON 112 must score higher than FNMT 118 on the placement test or should complete FNMT 118.
Program of Study and Graduation Requirements:
Successful completion of the program requires a "C" grade or better in each of the courses listed in the program.
Course Sequence:
| Course Number and Name | Prerequisites | Credits |
|---|---|---|
| FIN 151 - Risk Management and Insurance | 3 credits | |
| FIN 155 - Property and Liability Insurance | FIN 151, which may be taken concurrently | 3 credits |
| FIN 160 - Personal Insurance | FIN 151, which may be taken concurrently | 3 credits |
| FIN 165 - Commercial Insurance | FIN 151, which may be taken concurrently | 3 credits |
| Insurance Pathway (choose one Pathway): Pathway I: ACCT 101 - Financial Accounting Pathway II (select two courses): ECON 112 - Statistics I or ECON 120 - Introduction to Business Analytics or RE 101 - Real Estate Fundamentals | ECON 112: FNMT 118 or higher than FNMT 118 on placement test | 4 or 6 credits |
Minimum Credits Needed to Graduate:
16The Division of Business and Technology, Room B2-22, 1700 Spring Garden Street, Philadelphia, PA 19130, Telephone (215) 751-8414 or the College Information Center (215) 751-8010.