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Economics and Business (530)

530 (30 CII credits – Advanced Diploma level)

Economics and Business (530) enables candidates to understand relevant economic concepts and apply them to insurance business. It is about enhancing understanding of the economic and business environment and its application to insurance. This unit would be of benefit to aspiring managers who wish to gain a greater understanding of the economic and business context in which they function.

You will have developed a sound grounding in the technical aspects of insurance and will be approaching or have already reached first-line management. It is assumed that you have knowledge of insurance organisations, finance and regulations as typically covered in Insurance, Legal and Regulatory (IF1) or Insurance Business and Finance (M92) or equivalent examinations.

The overall aim of this unit is to provide you with an understanding of the economic and business environment and its approach to insurance together with some of the issues that need to be addressed by managers at this level.

The syllabus learning outcomes support the principle that understanding how and when to use knowledge is as important as the knowledge itself. The study material has been designed to support the achievement of these outcomes, but you should note that success in the assessment will require you to undertake further reading and private research beyond the core study text.

Building a successful career in insurance

Economics and Business (530) is an Advanced Diploma in Insurance unit and is intended for candidates who are nearing the completion of the ACII qualification. This unit counts towards achieving an Advanced Diploma in Insurance. 

Summary of learning outcomes

  1. Analyse the nature of the economy and relevant economic issues.
  2. Analyse and apply demand and supply concepts.
  3. Evaluate market structures and the business environment.
  4. Evaluate the impact of ethics, corporate governance, and risk management on insurance business.
  5. Analyse the macro economy and aspects of monetary and fiscal policy.
  6. Evaluate international trading and financial relationships.
  7. Analyse the interaction between economics and accounting

More information:

Guide for coursework trainers (PDF)

Assessment

  • 3 coursework assignments of up to 3,200 words
  • 50% nominal pass mark
  • The average pass rate for those completing Advanced Diploma in Insurance coursework units in full is currently 97.2%

Recommended study hours: 150

This unit is tested by coursework assessment which includes a study text and the marking of a series of assignments.

Printed and digital options

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By purchasing the ‘Printed and digital’ option, you will incur an additional charge for postage and packaging:

£7 per order: UK, Channel Isles, Isle of Man, Republic of Ireland, Malta and Gibraltar.

£15 per order: All other countries.test

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Enrolment (12 months)

Information Study text and assessment entry (Digital only)

  • Non-members £545.00
  • Members £439.00

Information Study text and assessment entry (Printed and digital)

  • Non-members £581.00
  • Members £474.00
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