Todays Lecture

1
Todays Lecture - 27Course Review

• Course Review
• Final Exam Information

2
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

3
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

4
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

5
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

6
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)

7
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

8
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

9
Final Exam

• Liability
• Basis
• Defenses
• Social Security
• Benefits
• Taxes
• Financial condition
• Estate planning and estate taxes

10
Final Exam

• History of insurance
• Types of insurers
• Insurance regulation
• Major points made by guest speakers over entire
  semester

11
Know Your Guest Speakers

• August 24 Todd Hart, State Farm
• August 31 John Wright, Northwestern Mutual
• September 7 Tony Falcone, RLI
• September 14 Gail Ross, Milliman
• September 21 Jeff Myers, Ameren
• September 28 Mark Vonnahme, EVP, Arch
  Insurance
• October 5 Eva Stickland, Teach for America
• October 12 Mil and Barcy Grauer
• October 19 Keith Green, Allstate
• October 26 Jeff Gendron, Country Financial
• November 2 Dennis Drent, CEO, VPI
• November 9 Larry Gilbert, New York Life
• November 16 Mike and Sue Myers, Wausau and
  Hawleysville
• November 30 D. A. Miller, insurance claimant

12
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

13
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.

14
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

15
Additional Office Hours Week of 12/9

• Sunday, December 9th
• 12-2pm Eric Lam
• 2-4pm Pan Wong
• 4-6pm Neal Simons
• 6-8pm Brian Alvin
• Monday, December 10th
• 1-3 pm Bill Schneider
• 6-8pm Kathy Gu