Today’s Lecture - #27
Course Review
Course Review
Final Exam Information
What You Should Have Learned
in the Course
Why you should buy insurance
How to buy insurance (rather than being sold)
Determine what coverages you need
Contact agents and companies
Evaluate financial condition of companies
Compare products and prices
Select the best value from a strong insurer
What You Should Have Learned
in the Course - continued
You should have a general familiarity with:
Auto insurance
Health insurance
Life insurance
Homeowners insurance
You should understand the issues of:
Social Security
Insurance regulation
You should know:
When you need a will
Estate planning basics
What You Should Have Learned
in the Course - continued
You should know about the following insurance
careers:
Actuary
Agent
Broker
Risk Manager
Management (CEO, VP)
Underwriter
Final Exam Locations
Exam is Tuesday, December 11, 2007 – 8-11 AM
VERY IMPORTANT –
You must take the exam in the right room!
Show up on time! Late arrivals may not be allowed to
take the exam.
Last Name Begins
Exam Room
A-O
141 Wohlers Hall
P-Te
2 Education
Th-Z
166 Education
Final Exam
Exam is open-book, open note
Exam will consist of 40 multiple choice questions
Bring to the exam:
#2 Pencils
Calculator
Car and Health Policies
Textbook for Life and Homeowners policies
and the mortality table (Appendices A, E and F)
Final Exam
Exam is comprehensive
Policies
Car
Life
Health
Homeowners
Methods of handling risk
Ideal requisites for insurability
Contract requirements
Distinguishing characteristics of insurance
contracts
Final Exam
Insurance contracts
How to buy insurance
Selecting an agent
Selecting a company
Insurance ratings
Types of life insurance
Mortality tables
Universal life calculations
Life insurance cost comparisons
Final Exam
Liability
Basis
Defenses
Social Security
Benefits
Taxes
Financial condition
Estate planning and estate taxes
Final Exam
History of insurance
Types of insurers
Insurance regulation
Major points made by guest speakers over
entire semester
Know Your Guest Speakers
August 24
August 31
September 7
September 14
September 21
September 28
October 5
October 12
October 19
October 26
November 2
November 9
November 16
November 30
Todd Hart, State Farm
John Wright, Northwestern Mutual
Tony Falcone, RLI
Gail Ross, Milliman
Jeff Myers, Ameren
Mark Vonnahme, EVP, Arch Insurance
Eva Stickland, Teach for America
Mil and Barcy Grauer
Keith Green, Allstate
Jeff Gendron, Country Financial
Dennis Drent, CEO, VPI
Larry Gilbert, New York Life
Mike and Sue Myers, Wausau and Hawleysville
D. A. Miller, insurance claimant
How to Prepare for the Final
Review all 12 assignments
Go over first and second exams
Study policies
Know how to do all calculations covered in
class
Final Exam Conflict Request
The final exam is scheduled for Tuesday,
December 11, 2007, from 8-11 am. In order to
qualify for a conflict exam, you must meet all
three of the following criteria:
•You have 3 exams in 24 hours
•The other courses are not offering a conflict final
•Fin 230 is the largest of the three courses
If you feel that you qualify for a conflict exam, fill
out a Final Exam Conflict Request form and turn
it in by 5 pm December 7.
Optional Review for Final Exam
Saturday, December 8, 2007
6-8 pm
141 Wohlers Hall
Bring your State Farm Car,
U of I Student Health, Life and
Homeowners Policies
Bring your i-clicker
Additional Office Hours Week of 12/9
Sunday, December 9th
12-2pm
2-4pm
4-6pm
6-8pm
Monday, December 10th
1-3 pm
6-8pm
Eric Lam
Pan Wong
Neal Simons
Brian Alvin
Bill Schneider
Kathy Gu