Oktober Edition 2016

MINISTRY OF EDUCATION, MALAYSIA

VOCATIONAL COLLEGE STANDARD CURRICULUM

COURSE INFORMATION

COURSE : INSURANCE RISK

CODE : BIN 1022

LEVEL : 1 SEMESTER 1

CREDIT UNIT : 2.0

CONTACT HOUR : FACE TO FACE : 3.0 HOURS / WEEK

NON FACE TO FACE :

COURSE TYPE : VOCATIONAL

PRE-REQUISITE : -

CORE REQUISITE : -

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COURSE OUTCOMES

At the end of the course, the students should be able to:-

1. Describe the concept of risk

2. Describe the categories of risk
3. Describe the methods of handling risks
4. Explain the characteristics of insurable risk

COURSE DESCRIPTION

This course introduces the overall concept of risk in insurance.

CONTENT AND LEARNING STANDARDS

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PROGRAMME : INSURANCE

COURSE : INSURANCE RISK

CODE : BIN 1022

CONTENT STANDARD LEARNING STANDARD PERFORMANCE CRITERIA

1. DESCRIBE THE CONCEPTS 1. Describe the concepts of risk 1.1.1 Describe the uncertainty concept
OF RISK 1.1.2 Describe the definition of risk
. 1.1.3 Describe the concepts of loss, peril and hazard

CONTENT AND LEARNING STANDARDS

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PROGRAMME : INSURANCE

COURSE : INSURANCE RISK

CODE : BIN 1022

CONTENT STANDARD LEARNING STANDARD PERFORMANCE CRITERIA

2. DESCRIBE THE 2.1 Describe the categories of risk 2.1.1 Describe the basic categories of risks
CATEGORIES OF RISK 2.1.1.1 Pure and speculative risks
2.1.1.2 Fundamental and particular risks
2.1.1.3 Financial vs. non-financial risks
2.1.1.4 Static vs. dynamic risks

CONTENT AND LEARNING STANDARDS

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PROGRAMME : INSURANCE

COURSE : INSURANCE RISK

CODE : BIN 1022

CONTENT STANDARD LEARNING STANDARD PERFORMANCE CRITERIA

3. DESCRIBE THE METHODS 3.1 Describe the methods of handling 3.1.1 Identify and describe the methods of handling risk
OF HANDLING RISK pure risks Risk avoidance
Loss control
Risk retention
Risk transfer

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CONTENT AND LEARNING STANDARDS

PROGRAMME : INSURANCE

COURSE : INSURANCE RISK

CODE : BIN 1022

CONTENT STANDARD LEARNING STANDARD PERFORMANCE CRITERIA

4. UNDERSTAND THE 4.1 Explain the characteristics of 4.1.1 Identify the main characteristics of insurable risks
CHARACTERISTICS OF insurable risks Financial value
INSURABLE RISKS Large number of similar risk
Pure risk only
No catastrophic losses
Fortuitous losses
Insurable interest
Legal and not against public policy
Reasonable premium

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