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Jack Farmer
Ready to earn a professional certificate and stand out in your field?
Read more
Ready to earn a professional certificate and stand out in your field?
Read more
Ready to earn a professional certificate and stand out in your field?
If you've gained a clear, comprehensive understanding of the courses, your next step is to complete the Financial Analysis of Insurance Companies Professional Certificate Examination from the New York Institute of Finance.
The exam comprises 24 questions, timed at one hour. To qualify for the certificate, learners must receive a grade of at least 70% or higher.
Prerequisite for this exam:
Earn a Verified Certificate in all parts of the Financial Analysis of Insurance Companies program from NYIF:
- Industry Overview and Analysis of Financial and Regulatory Reporting
- Insurance Reserving, Risk Management and Analysis of Key Performance and Financial Indicators
Register for this course and see more details by visiting:
OpenCourser.com/course/uwgtfu/financial
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What's inside
Learning objectives
- Describe major industry trends and challenges
- Explain the insurance industry's regulatory environment
- Describe the operating cycle of an insurance company
- Compare and contrast statutory and u.s. gaap accounting
- Describe the impairment tests for invested assets
- Differentiate between loss reserves, policy reserves, upr and ibnr reserves
- Identify the components on an insurer's capital and surplus
- Describe the nature and purpose of reinsurance
- Identify the key elements of risk transfer in a reinsurance agreement
- Conduct ratio analysis to assess an insurer's financial condition and results
- Explain the methodologies used by rating agencies
- Describe the key components of the naic's risk-based capital (rbc) formula
- Identify warning signs of an insurer experiencing financial distress
- Predict how changes in key variables might affect an insurer's financial results
- Describe how insurance companies manage financial risk
- Describe the impact of international accounting (ifrs) on the insurance industry
- Refresh your knowledge of key insurance terms and concepts.
- Describe major industry trends and challenges
- Explain the insurance industry's regulatory environment
- Describe the operating cycle of an insurance company
- Compare and contrast statutory and u.s. gaap accounting
- Describe the impairment tests for invested assets
- Differentiate between loss reserves, policy reserves, upr and ibnr reserves
- Identify the components on an insurer's capital and surplus
- Describe the nature and purpose of reinsurance
- Identify the key elements of risk transfer in a reinsurance agreement
- Conduct ratio analysis to assess an insurer's financial condition and results
- Explain the methodologies used by rating agencies
- Describe the key components of the naic's risk-based capital (rbc) formula
- Identify warning signs of an insurer experiencing financial distress
- Predict how changes in key variables might affect an insurer's financial results
- Describe how insurance companies manage financial risk
- Describe the impact of international accounting (ifrs) on the insurance industry
- Refresh your knowledge of key insurance terms and concepts.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Course closely aligns with New York Institute of Finance's Financial Analysis of Insurance Companies program
Suitable for learners seeking a professional certificate to enhance their credibility in the insurance industry
Structured for insurance professionals who wish to advance their knowledge and skills
Examines various aspects of insurance analysis, including risk management, key performance indicators, and financial reporting
Provides a solid foundation for understanding the complexities of insurance companies' financial operations
Save this course
Save Financial Analysis of Insurance Companies Professional Certificate Examination to your list so you can find it easily later:
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Financial Analysis of Insurance Companies Professional Certificate Examination with these
activities:
Review insurance contract law basics
Show steps
Review the basics of insurance contract law to ensure you have a solid foundation for understanding the more advanced concepts covered in this course.
Browse courses on
Contract Law
Show steps
-
Read textbook chapters on insurance contract law.
-
Review your notes from any previous coursework on insurance contract law.
-
Take practice quizzes on insurance contract law.
Review financial accounting basics
Show steps
Refresh your knowledge of financial accounting basics to ensure you can understand the financial statements of insurance companies.
Browse courses on
Financial Accounting
Show steps
-
Read textbook chapters on financial accounting.
-
Review your notes from any previous coursework on financial accounting.
-
Take practice quizzes on financial accounting.
Review key insurance regulations
Show steps
Refreshing your knowledge of key insurance regulations will help you understand the legal and compliance requirements that insurance companies must adhere to.
Show steps
-
Review your course materials on insurance regulations.
-
Identify the key regulatory agencies and their roles.
-
Summarize the main requirements for insurance companies, such as solvency, reporting, and consumer protection.
-
Stay updated on any changes or updates to insurance regulations.
Nine other activities
Expand to see all activities and additional details
Show all 12 activities
Review accounting principles
Show steps
A solid understanding of accounting principles is essential for financial analysis. This activity will help strengthen your foundation.
Browse courses on
Accounting Principles
Show steps
-
Review your notes from previous accounting courses or textbooks.
-
Take an online refresher course or watch tutorials on accounting principles.
Find a mentor in the insurance industry
Show steps
Find a mentor in the insurance industry who can provide guidance and support as you learn about financial analysis of insurance companies.
Show steps
-
Network with professionals in the insurance industry.
-
Attend industry events and conferences.
-
Reach out to professors or other professionals in your field.
Watch video tutorials on financial analysis of insurance companies
Show steps
Watch video tutorials on financial analysis of insurance companies to supplement your learning from the course materials.
Browse courses on
Financial Analysis
Show steps
-
Search for video tutorials on financial analysis of insurance companies.
-
Watch the tutorials and take notes.
-
Review your notes and identify areas where you need further clarification.
Practice financial ratio analysis
Show steps
Financial ratio analysis is an important tool in the assessment of an insurer's financial condition. Practicing these techniques will help you develop proficiency.
Browse courses on
Financial Ratios
Show steps
-
Identify the different types of financial ratios used in insurance industry analysis.
-
Calculate financial ratios using real-world data from insurance company financial statements.
-
Interpret the results of your ratio analysis to assess an insurer's financial performance.
Practice answering exam-style questions
Show steps
Practice answering exam-style questions to improve your understanding of the material and prepare for the exam.
Show steps
-
Find practice questions online or in textbooks.
-
Set a timer and answer the questions under timed conditions.
-
Review your answers and identify areas where you need improvement.
Conduct ratio analysis exercises
Show steps
Practicing ratio analysis exercises will help you develop the skills necessary to assess the financial condition and performance of insurance companies.
Browse courses on
Ratio Analysis
Show steps
-
Gather financial data from insurance company annual reports or databases.
-
Calculate key financial ratios using the formulas provided in the course.
-
Interpret the results of your analysis and identify trends or areas of concern.
-
Compare your results to industry benchmarks or peer companies.
-
Use your findings to make informed decisions about insurance companies.
Solve practice exam questions
Show steps
Practice is key to success and taking practice exams can improve your preparation for the actual certification exam.
Browse courses on
Exam Preparation
Show steps
-
Download practice exam questions from the NYIF website.
-
Time yourself as you complete the practice questions.
-
Review your answers and identify areas where you need additional study.
Create a financial analysis report on an insurance company
Show steps
Create a financial analysis report on an insurance company to demonstrate your understanding of the concepts covered in this course.
Browse courses on
Financial Analysis
Show steps
-
Choose an insurance company to analyze.
-
Gather financial data on the company.
-
Analyze the company's financial statements.
-
Write a report on your findings.
Mentor a fellow student
Show steps
Mentoring a fellow student can strengthen their understanding and reinforce your own.
Browse courses on
Mentorship
Show steps
-
Identify a fellow student who would benefit from your guidance.
-
Schedule regular meetings to discuss the course material and provide support.
Review insurance contract law basics
Show steps
Review the basics of insurance contract law to ensure you have a solid foundation for understanding the more advanced concepts covered in this course.
Browse courses on
Contract Law
Show steps
Show steps
Show steps
- Read textbook chapters on insurance contract law.
- Review your notes from any previous coursework on insurance contract law.
- Take practice quizzes on insurance contract law.
Review financial accounting basics
Show steps
Refresh your knowledge of financial accounting basics to ensure you can understand the financial statements of insurance companies.
Browse courses on
Financial Accounting
Show steps
Show steps
Show steps
- Read textbook chapters on financial accounting.
- Review your notes from any previous coursework on financial accounting.
- Take practice quizzes on financial accounting.
Review key insurance regulations
Show steps
Refreshing your knowledge of key insurance regulations will help you understand the legal and compliance requirements that insurance companies must adhere to.
Show steps
Show steps
Show steps
- Review your course materials on insurance regulations.
- Identify the key regulatory agencies and their roles.
- Summarize the main requirements for insurance companies, such as solvency, reporting, and consumer protection.
- Stay updated on any changes or updates to insurance regulations.
Nine other activities
Expand to see all activities and additional details
Show all 12 activities
Review accounting principles
Show steps
A solid understanding of accounting principles is essential for financial analysis. This activity will help strengthen your foundation.
Browse courses on
Accounting Principles
Show steps
Show steps
Show steps
- Review your notes from previous accounting courses or textbooks.
- Take an online refresher course or watch tutorials on accounting principles.
Find a mentor in the insurance industry
Show steps
Find a mentor in the insurance industry who can provide guidance and support as you learn about financial analysis of insurance companies.
Show steps
Show steps
Show steps
- Network with professionals in the insurance industry.
- Attend industry events and conferences.
- Reach out to professors or other professionals in your field.
Watch video tutorials on financial analysis of insurance companies
Show steps
Watch video tutorials on financial analysis of insurance companies to supplement your learning from the course materials.
Browse courses on
Financial Analysis
Show steps
Show steps
Show steps
- Search for video tutorials on financial analysis of insurance companies.
- Watch the tutorials and take notes.
- Review your notes and identify areas where you need further clarification.
Practice financial ratio analysis
Show steps
Financial ratio analysis is an important tool in the assessment of an insurer's financial condition. Practicing these techniques will help you develop proficiency.
Browse courses on
Financial Ratios
Show steps
Show steps
Show steps
- Identify the different types of financial ratios used in insurance industry analysis.
- Calculate financial ratios using real-world data from insurance company financial statements.
- Interpret the results of your ratio analysis to assess an insurer's financial performance.
Practice answering exam-style questions
Show steps
Practice answering exam-style questions to improve your understanding of the material and prepare for the exam.
Show steps
Show steps
Show steps
- Find practice questions online or in textbooks.
- Set a timer and answer the questions under timed conditions.
- Review your answers and identify areas where you need improvement.
Conduct ratio analysis exercises
Show steps
Practicing ratio analysis exercises will help you develop the skills necessary to assess the financial condition and performance of insurance companies.
Browse courses on
Ratio Analysis
Show steps
Show steps
Show steps
- Gather financial data from insurance company annual reports or databases.
- Calculate key financial ratios using the formulas provided in the course.
- Interpret the results of your analysis and identify trends or areas of concern.
- Compare your results to industry benchmarks or peer companies.
- Use your findings to make informed decisions about insurance companies.
Solve practice exam questions
Show steps
Practice is key to success and taking practice exams can improve your preparation for the actual certification exam.
Browse courses on
Exam Preparation
Show steps
Show steps
Show steps
- Download practice exam questions from the NYIF website.
- Time yourself as you complete the practice questions.
- Review your answers and identify areas where you need additional study.
Create a financial analysis report on an insurance company
Show steps
Create a financial analysis report on an insurance company to demonstrate your understanding of the concepts covered in this course.
Browse courses on
Financial Analysis
Show steps
Show steps
Show steps
- Choose an insurance company to analyze.
- Gather financial data on the company.
- Analyze the company's financial statements.
- Write a report on your findings.
Mentor a fellow student
Show steps
Mentoring a fellow student can strengthen their understanding and reinforce your own.
Browse courses on
Mentorship
Show steps
Show steps
Show steps
- Identify a fellow student who would benefit from your guidance.
- Schedule regular meetings to discuss the course material and provide support.
Career center
Learners who complete Financial Analysis of Insurance Companies Professional Certificate Examination will develop knowledge and skills
that may be useful to these careers:
Insurance Analyst
Insurance Analyst
Insurance analysts evaluate the financial health of insurance companies and make recommendations to investors. They analyze financial statements, assess risk factors, and develop financial models. Insurance analysts work for investment banks, insurance companies, and other financial institutions. The knowledge you gain from this course would help you to understand the insurance industry and to make informed investment decisions. The skills you would learn in this course, such as financial analysis, risk assessment, and valuation, would be directly applicable to the work of an insurance analyst.
Actuary
Actuary
Actuaries analyze the financial implications of risk and uncertainty. They use mathematical and statistical techniques to assess the probability of future events, such as death, disability, or property damage. Actuaries work for insurance companies, pension funds, and other financial institutions. As an actuary, you would use the knowledge you gain from this course to analyze the financial condition of insurance companies and to develop strategies to manage risk. The skills you would learn in this course, such as ratio analysis, risk assessment, and financial modeling, would be directly applicable to the work of an actuary.
Insurance Underwriter
Insurance Underwriter
Insurance underwriters evaluate risk and determine whether to issue insurance policies. They assess the risk of loss for different types of insurance, such as property, casualty, and life insurance. Insurance underwriters work for insurance companies and insurance brokers. As an insurance underwriter, you would use the knowledge you gain from this course to assess the financial condition of insurance companies and to develop strategies to manage risk. The skills you would learn in this course, such as risk assessment, financial modeling, and insurance regulation, would be directly applicable to the work of an insurance underwriter.
Financial Analyst
Financial Analyst
Financial analysts evaluate the financial health of companies and make recommendations to investors. They analyze financial statements, assess risk factors, and develop financial models. Financial analysts work for investment banks, asset management companies, and other financial institutions. The knowledge you gain from this course would help you to understand the insurance industry and to make informed investment decisions. The skills you would learn in this course, such as financial analysis, risk assessment, and valuation, would be directly applicable to the work of a financial analyst.
Investment Banker
Investment Banker
Investment bankers help companies to raise capital and provide financial advice. They work on a variety of transactions, such as mergers and acquisitions, initial public offerings, and debt financing. Investment bankers work for investment banks and other financial institutions. The knowledge you gain from this course would help you to understand the insurance industry and to provide financial advice to insurance companies. The skills you would learn in this course, such as financial analysis, risk assessment, and valuation, would be directly applicable to the work of an investment banker.
Risk Manager
Risk Manager
Risk managers identify, assess, and manage risk for organizations. They work in a variety of industries, including insurance, banking, and manufacturing. Risk managers develop and implement risk management strategies to protect organizations from financial loss and other types of harm. As a risk manager, you would use the knowledge you gain from this course to assess the financial condition of insurance companies and to develop strategies to manage risk. The skills you would learn in this course, such as risk assessment, financial modeling, and insurance regulation, would be directly applicable to the work of a risk manager.
Insurance Agent
Insurance Agent
Insurance agents sell insurance policies to individuals and businesses. They work for insurance companies and insurance brokers. As an insurance agent, you would use the knowledge you gain from this course to advise clients on the different types of insurance policies available and to help them to choose the right coverage. The skills you would learn in this course, such as risk assessment, insurance regulation, and customer service, would be directly applicable to the work of an insurance agent.
Insurance Broker
Insurance Broker
Insurance brokers help individuals and businesses to find and purchase insurance policies. They work with a variety of insurance companies to find the best coverage for their clients. As an insurance broker, you would use the knowledge you gain from this course to advise clients on the different types of insurance policies available and to help them to choose the right coverage. The skills you would learn in this course, such as risk assessment, insurance regulation, and customer service, would be directly applicable to the work of an insurance broker.
Insurance Claims Adjuster
Insurance Claims Adjuster
Insurance claims adjusters investigate and settle insurance claims. They work for insurance companies and insurance brokers. As an insurance claims adjuster, you would use the knowledge you gain from this course to assess the financial condition of insurance companies and to develop strategies to manage risk. The skills you would learn in this course, such as risk assessment, financial modeling, and insurance regulation, would be directly applicable to the work of an insurance claims adjuster.
Underwriting Manager
Underwriting Manager
Underwriting managers are responsible for the underwriting process for insurance companies. They assess the risk of loss for different types of insurance, such as property, casualty, and life insurance. Underwriting managers work for insurance companies and insurance brokers. As an underwriting manager, you would use the knowledge you gain from this course to assess the financial condition of insurance companies and to develop strategies to manage risk. The skills you would learn in this course, such as risk assessment, financial modeling, and insurance regulation, would be directly applicable to the work of an underwriting manager.
Insurance Accountant
Insurance Accountant
Insurance accountants are responsible for the financial reporting of insurance companies. They prepare financial statements, such as balance sheets and income statements, and they analyze financial data. Insurance accountants work for insurance companies and insurance regulators. As an insurance accountant, you would use the knowledge you gain from this course to understand the financial reporting requirements for insurance companies and to prepare accurate financial statements. The skills you would learn in this course, such as financial analysis, risk assessment, and accounting principles, would be directly applicable to the work of an insurance accountant.
Insurance Consultant
Insurance Consultant
Insurance consultants provide advice to insurance companies and other organizations on a variety of insurance-related matters. As an insurance consultant, you would use the knowledge you gain from this course to assess the financial condition of insurance companies and to develop strategies to manage risk. The skills you would learn in this course, such as risk assessment, financial modeling, and insurance regulation, would be directly applicable to the work of an insurance consultant.
Credit Analyst
Credit Analyst
Credit analysts assess the creditworthiness of borrowers. They evaluate the financial condition of borrowers and make recommendations on whether to lend them money. As a credit analyst, you would use the knowledge you gain from this course to understand the financial reporting requirements for insurance companies and to assess the risk of loss for different types of insurance products. The skills you would learn in this course, such as financial analysis, risk assessment, and accounting principles, would be directly applicable to the work of a credit analyst.
Financial Examiner
Financial Examiner
Financial examiners examine the financial condition of banks and other financial institutions. They assess the risk of loss for different types of financial products, such as loans and investments. As a financial examiner, you would use the knowledge you gain from this course to understand the financial reporting requirements for insurance companies and to assess the risk of loss for different types of insurance products. The skills you would learn in this course, such as financial analysis, risk assessment, and accounting principles, would be directly applicable to the work of a financial examiner.
Loan Officer
Loan Officer
Loan officers originate and manage loans for banks and other financial institutions. As a loan officer, you would use the knowledge you gain from this course to understand the financial reporting requirements for insurance companies and to assess the risk of loss for different types of insurance products. The skills you would learn in this course, such as financial analysis, risk assessment, and accounting principles, would be directly applicable to the work of a loan officer.
For more career information including salaries, visit:
OpenCourser.com/course/uwgtfu/financial
Reading list
We've selected six books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Financial Analysis of Insurance Companies Professional Certificate Examination.
Provides an in-depth look at the fundamentals of insurance companies including many financial and analytical tools. It provides a highly relevant companion to the Financial Analysis of Insurance Companies Professional Certificate Examination.
Is highly relevant to this course, and it provides a rigorous academic reference for the financial analysis of insurance companies. While suitable as a textbook for advanced students, it can also be used as a reference book for practicing professionals.
Provides details on the accounting and reporting practices used by insurance companies. This book provides supplemental information on statutory and U.S. GAAP accounting, and impairment tests for invested assets.
Guide to the International Financial Reporting Standards (IFRS) and how they apply to insurance companies. The reader will gain an understanding of the accounting implications of implementing IFRS.
While this book is not as relevant as some others on this list, it provides a comprehensive overview of the unique issues related to the accounting and financial reporting of insurance companies. It provides helpful historical and contextual background for this course.
Provides a different perspective on the insurance industry by providing an economic perspective on insurance. It provides a good background on the industry and basic economic principles.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/uwgtfu/financial
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Effort
1 to 2 hours per week for 1 week
Level
Advanced
Via
edX
Institution
New York Institute of Finance
Instructor
Jack Farmer
Language
English
Transcript
English
This course belongs to a
collection
called
Financial Analysis of Insurance Companies. It's comprised of three courses:
- Financial Analysis of Insurance Companies Professional Certificate Examination (viewing)
- Financial Analysis of Insurance Companies – Industry Overview and Analysis of Financial and Regulatory Reporting
- Insurance Reserving, Risk Management and Analysis of Key Performance and Financial Indicators
Good to know
Course closely aligns with New York Institute of Finance's Financial Analysis of Insurance Companies program
Suitable for learners seeking a professional certificate to enhance their credibility in the insurance industry
Structured for insurance professionals who wish to advance their knowledge and skills
Examines various aspects of insurance analysis, including risk management, key performance indicators, and financial reporting
Provides a solid foundation for understanding the complexities of insurance companies' financial operations
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