Sorrell College of Business. Bachelor of Science in Business Administration Risk Management and Insurance Major

Transcription

1 Sorrell College of Business Bachelor of Science in Business Administration Major

2 Program Overview The University offers a Bachelor of Science in Risk Management and Insurance at the Troy campus only. Additionally, a Certificate Program in Risk Management and Insurance is offered at the Troy campus. The University also provides RMI 3335 Principles of Risk Management and Insurance at the Dothan and Montgomery campuses to support the business studies core program [general business elective].

3 Major Overview The Risk management and Insurance major is 30 hours of upper division courses: RMI 3335 (3) Principles of RMI 3340 (3) Surplus Lines and Reinsurance RMI 3342 (3) Insurance Operations RMI 3346 (3) Life and Health Insurance RMI 3348 (3) Property and Liability Insurance RMI 4440 (3) Corporate Risk Management RMI 4441 (3) Insurance Ethics and Professionalism RMI 4449 (3) Seminar Select two upper level business or business law course elective (six hours).

4 Expected Outcomes & Assessment Methods SLO FE C 2 C FE 3 C FE 4 C FE 5 FE C 6 C FE 7 C 8 C FE

5 GOAL: Program Outcomes 10 majors will complete their B.S./B.A. in each year. OUTCOMES: The department has met this outcome with an average of 9.8 graduates each year for the past 5 years. In addition, the department has averaged 1.6 certificate program graduates each year for the past 5 years. The department has not met this outcome for AY with 7 graduates.

6 Expected Program Outcomes 80% of seniors will evaluate major instructors as good or excellent 80% of seniors will evaluate the major program as good or excellent 80 % of seniors will evaluate faculty accessibility as good or excellent 80% of majors will report that they agree or strongly agree that the advisor provides accurate information about the major and program requirements

7 Results - Program Outcomes 80% of seniors will evaluate major instructors as good or excellent 100% (n=2) of seniors evaluate major instructors as good or excellent. This standard exceeds expectations. (Senior Survey) 80% of seniors will evaluate the major program as good or excellent 50% (n=1) of seniors evaluate major program as good or excellent. This standard fails to meet expectations. (Senior Survey) 80 % of seniors will evaluate faculty accessibility as good or excellent 50% (n=1) of seniors evaluate faculty accessibility as good or excellent. This level fails to meet expectations. (Senior Survey) 80% of majors will report that academic advising is good or excellent. 50% (n=1) of majors report that academic advising is good or excellent. This level fails to meet expectations. (Senior Survey)

8 Student Learning Outcomes GOAL: Upon completion of an undergraduate Risk Management and Insurance major, students will be able to demonstrate a broad understanding of property casualty insurance regulations and requirements. OUTCOMES: Measure: 70% of Troy RMI students will pass the American Institute s CPCU 520 (Insurance Operations, Regulation & Accounting) exam. [Note: this is a professional, national exam designed for individuals with years of industry experience.] 91% passed in , standard is met 77% passed in , standard is met 78% passed in , standard is met 63% passed in , standard is met (some students will be re-taking the exam)

9 GOAL: Student Learning Outcomes Upon completion of an undergraduate Risk Management and Insurance major, students will be able to demonstrate a broad understanding of commercial insurance sufficient to secure employment after graduation. OUTCOMES: Measure: 70% of Troy RMI students will secure full-time employment in the insurance industry within 3 months of graduation. 100% [22/22] in , standard is met 100% [13/13] in , standard is met 100% [7/7] in , standard is met 100% [6/6] in , standard is met 89% [8/9] in , standard is met 80% [4/5] in , standard is met (does not include Spring 2010 graduates)

10 Student Learning Outcomes Demonstrate general business proficiency with respect to the business core as measured by 70% of College of Business Students are expected to score within one standard deviation at the national average on the Major Field Test (MFT.) 72% of students met the goal in % of students met the goal in th percentile, standard is met in th percentile, standard is met in

11 MFT Expected SLO 1 Skill: Analyze financial statements Expected outcome: Students will score in the 50 th percentile on MFT-Business Accounting subscale. Actual outcome: Students scored in the 45 th percentile on the Accounting subscale. Standard not met.

12 MFT Expected SLO 2 Skill: Identify management functions Expected outcome: Students will score in the 50 th percentile on the MFT-Business Management subscale. Actual outcome: Students scored in the 65 th percentile of the MFT Management subscale. Standard is met.

13 MFT Expected SLO 3 Skill: Calculate opportunity cost Expected outcome: Students will score in the 50 th percentile of the MFT-Business Economics subscale. Actual outcome: Students scored in the 40 th percentile of the MFT Economics subscale. Standard not met.

14 MFT Expected SLO 4 Skill: Calculate the value of securities Expected outcome: Students will score in the 50 th percentile of the MFT-Business Finance subscale. Actual outcome: Students scored in the 60 th percentile of the MFT Finance subscale. Standard is met.

15 MFT Expected SLO 5 Skill: Identify components of the marketing mix Expected outcome: Students will score in the 50 th percentile of the MFT-Business Marketing subscale. Actual outcome: Students scored in the 65 th percentile of the MFT Marketing subscale. Standard is met.

16 Date: 4/5/2010 Program Review Summative Exam Faculty: Dr. Carol Jordan & Dr. Ed Pappanastos Six (6) students took the exam during Fall 2009 Average Exam Score: 81 (minimum score: 74) SLO Averages SLO Avg

17 Results - Troy Satisfaction data are reported on slide 7. Program Outcome Exam average = MFT-Business: 50 th percentile, standard is met MFT-Business-Accounting: 45 th percentile, standard not met MFT-Business-Management: 65 th percentile, standard is met MFT-Business-Economics: 40 th percentile, standard not met MFT-Business-Finance: 60 th percentile, standard is met MFT-Business-Marketing: 65 th percentile, standard is met

18 Plans for Further Improvement MFT Results: MFT-Business-Accounting: 45 th percentile, standard not met MFT-Business-Management: 65 th percentile, standard is met MFT-Business-Economics: 40 th percentile, standard not met MFT-Business-Finance: 60 th percentile, standard is met MFT-Business-Marketing: 65 th percentile, standard is met PFIs: 1. Continue restructure of Master Syllabi toward increased rigor to include: Learning map Specific standard measures for each SLO 2. Introduction of required readings MGT Introduction of required readings-mkt Institute stronger prerequisites

19 Plans for Further Improvement 50% of majors report that academic advising is good or excellent. This level fails to meet expectations. 1. Standardized orientations are being created to provide information to all SCOB students. Orientations will be available through multiple delivery methods. Orientations will include explicit information concerning the end-of-program as well as formative exams. Student expectations for advising will be included. 2. Advisors will attend workshops to improve reliability of information not covered by the catalogs. 50 % of seniors evaluate faculty accessibility as good or excellent. This level fails to meet expectations. 1. Associate Deans and Department Chairs/Site Directors are charged with monitoring faculty accessibility. Each syllabus must specify faculty accessibility in compliance with the Faculty Handbook. Monitoring will take place at the local level.

20 Plans for Further Improvement 50% of seniors evaluate major program as good or excellent. This standard exceeds expectations. 1. Post/ comparative information e.g. CPCU 520 pass rates 2. Post/ faculty accomplishments 3. Post/ program curriculum updates 100% of seniors evaluate major instructors as good or excellent. This standard exceeds expectations. Faculty development workshops will focus on perceptions of improvement, e.g. posting grades in a timely manner, publishing clear criteria for grading, and currency in discipline.

21 Plans for Further Improvement Visit High Schools During Fall to Recruit Students. Fill endowed professorship on the Phenix City Campus. Expand RMI program to the Phenix City, Dothan, and Montgomery campuses. Examine the cause of the low SLO 6 summative exam average. Examine the low pass rate for the CPCU 520.

22 Results of 2009 Plans for Further Improvement Establishment of RMI 3342 as the RMI Capstone Course RMI 3342 was established as the RMI Capstone Course. A course number change has been approved to make the course a 4400 number. Incorporation of an internal, summative assessment within RMI 3342 The summative assessment was created and implemented during Fall Outlined a plan for incorporating internal, formative assessments within each course This is in progress. Development of a reading plan to support the QEP Reading requirement implemented in RMI (The Traveler s Gift, by Andy Andrews)