0019 - CRM56 - Risk Financing

Course Description

This course is one of three prerequisite courses to obtain your CRM Designation from the Risk Management Society (RIMS). After passing the course through Laurier, you will become eligible to write the corresponding exam from RIMS. More information about CRM Desigination Eligibility. 

This course, CRM 56: Risk Financing, investigates the selection, implementation and monitoring of risk financing techniques and the funds an organization can obtain to pay when accidental losses strike.

Subjects covered in this course include:

• Introduction to risk financing
• Estimating hazard risk
• Self-insurance plans
• Retrospective rating plans
• Reinsurance
• Captive insurance
• Contractual insurance
• Transferring financial risk
• Transferring hazard risk to the capital markets
• Allocating costs of managing hazard risk

Course Outline

The 12-week course (36 hours) will be mostly self directed. Each week you will be expected to read and review concepts both in a textbook (see note below about options) as well as through extension content and activities in Laurier’s learning management system (MyLS).  

Additionally, learners will  

• participate in optional 2-4 Zoom sessions (recorded for those who can’t attend), which allow you to further develop authentic connections between theory and practice facilitated by a Risk Manager 

• contribute to cohort-based discussions in MyLS related to core concepts 

• complete 2-3 assignments/case studies where knowledge is applied to instances relevant to the working world AND 1 final exam that mirrors the requirements of the RIMS exam that many will complete 

Courses follow a weekly structure, and though material can be reviewed at your own pace, assessments need to be completed according to deadlines. 

Required Textbook 

Choose EITHER an online version OR a physical textbook. Both provide identical content.  The online version (accessible through the Institutes link below) includes practice quizzes at the end of units, while the physical textbook does not. To allow everyone the opportunity to test their knowledge and get real time feedback, optional ungraded practice quizzes are included in MyLS. 

It’s important to note as well that if you choose the online textbook version that you will only have access to it for 12 months after purchase. 

54 – Risk Management Principles and Practices 

55 - Risk Assessment and Treatment  

56 – Risk Financing 

All textbooks are available through the Institutes Knowledge Group site and are priced in USD. 

Notes

• A passing grade of 50% will indicate the completion of the course.
• You will receive a letter of completion after this course to provide RIMS, indicating you are eligible to write your designation exam (designation exam is an additional fee from RIMS, full details here).
• Upon completion of all three courses with a passing grade, you will receive the Canadian Risk Management Certificate from Laurier.

Complete all Courses in this Certificate

Register for all three CRM certificate courses at once to receive a 10% discount (apply the discount at checkout). Courses run once per year and can be taken in any order. 

• CRM 54 - Risk Management Principles and Practices
• CRM 55 - Risk Assessment and Treatment

Refunds

• Up to 15 days before the start of course: Full refund less 10% administrative fee.
• One to fourteen days before start of course: Full refund less 20% administrative fee.
• No refunds will be issued as of the first day of the course.

Applies Towards the Following Certificates

• Canadian Risk Management Certificate : Canadian Risk Management Certificate