Skip to main content
  • Admissions
  • Academics
  • Research
  • Illinois State University Home
  • Student Life
  • Athletics
  • About

2025-2026 Undergraduate Catalog Department of Finance, Insurance and Law

Business.IllinoisState.edu

  1. Home
  2. Catalog
  3. Undergraduate
  4. Finance, Insurance, and Law

College of Business Program Information

Majors in the Department of Finance, Insurance, and Law follow the requirements and standards for all programs in the College of Business:

  • Admission/Retention Requirements
  • Course Equivalent Transfer Policies
  • Standards for Progress in the Major
  • Academic Requirements
  • Non-business Majors Taking Business Courses
  • Structure of the Business Programs

Course Finder

  • View Finance, Insurance and Law Courses
  • View All Courses

Honors in Finance, Insurance and Law

The Honors Program seeks to facilitate customized learning for Honors students in their disciplines by offering the opportunity for students to engage in Honors education and to have Honors Learning Experiences in upper division courses. Honors students may choose to focus their Honors Learning in their major and pursue the Honors in the Major designation, which is awarded at graduation. Learn more about Honors in the Major.

 

Majors >

  • Finance, Insurance, and Law
  • Risk Management and Insurance

Minors >

  • Financial Planning
  • Insurance

Finance, Insurance and Law

Degree Offered: B.S.

Sequences >

  • General Finance

Major in Finance

The major in Finance develops the skills necessary to work in all areas of finance: corporate financial management, management of financial institutions, personal financial planning and investments. The major offers sequences which prepare students to take professional certification exams for the “Chartered Financial Analyst” and the “Certified Financial Planner” (CFA and CFP) designations. It also offers students a transformational experience in investment management involving student management of a $500,000 portfolio of equity securities and a $1,000,000 portfolio of fixed-income funds, with guidance and inspiration from investment professionals from corporate friends like COUNTRY Financial, State Farm Mutual Insurance and Wells Fargo.

Students in the Finance major must complete one of the following sequences.

General Finance Sequence

View General Finance Sequence Course Requirements

Minor in Financial Planning

24 total hours required

  • ACC 131
  • ACC 233 or ACC 239
  • FIL 220 or FIL 242
  • FIL 251
  • FIL 342
  • FIL 345
  • FIL 371

Take one of the following options:

  • ECO 101 and ECO 102 (6 total hours for students choosing FIL 220)
    or
    FIL 190 or FIL 240

Notes

  • All required courses must be completed with a grade of C or better. 
  • No more than 9 hours from major program of study may be applied to minor.
  • Non-business majors will have a total of 27 credit hours required including prerequisites (24 credit hours in business and 6 credit hours of economics)
  • The financial planning minor is a CFP Board Registered Program, and the coursework covers the required material to satisfy the CFP Board's Education Requirements, which allows students to register for the Certified Financial Planner designation examination after graduation.

Prerequisites for required courses:

  • ACC 233: A grade of C or better in ACC 131
  • ACC 239: A grade of C or better in ACC 131
  • FIL 220: ACC 131; ECO 101 and ECO 102
  • FIL 242 (if taken as an option see above): FIL 190 or FIL 240
  • FIL 250: No prerequisites
  • FIL 345: FIL 220 or FIL 242; 
  • FIL 371: FIL 342 and FIL 345 or conc. registration

Minor in Risk Management and Insurance

34 total hours required

  • FIL 185
  • FIL 190 or FIL 240
  • FIL 250
  • ECO 101 and ECO 102;  or ECO 103 
  • ACC 131
  • ACC 132
  • MGT 100 (or ECO 138 or POL 138 or PSY 138)
  • MAT 120, 121, 144 or 145

Take 3 courses from the following 

  • FIL 251 (not for credit if earned credit in FIL 351)
  • FIL 342
  • FIL 345
  • FIL 350
  • FIL 352
  • FIL 353
  • FIL 354
  • FIL 355
  • FIL 356 (not for credit if earned credit in either FIL 350 or 352)
  • FIL 380a04
  • FIL 382 (all sections; count only FIL 382a03 or LGS 216)
  • FIL 398a10 (3 credit hours)
  • LGS 216

Notes

At least half of the credit hours (minimum of nine credit hours) for a minor must be distinct from any hours the student counts toward a major within the same department or school.

Prerequisites for required courses:

  • FIL 190: ECO 101 or 105, MGT 100, ACC 131. Not for credit if earned credit in FIL 240
  • FIL 240: ACC 131, ACC 132, MGT 100 (or (or ECO 138 or POL 138 or PSY 138)

Prerequisites for required and elective courses:

  • FIL 190: ECO 101 or 105, MGT 100, ACC 131. Not for credit if earned credit in FIL 240
  • FIL 240: ACC 131, ACC 132, MGT 100 (or (or ECO 138 or POL 138 or PSY 138)
  • FIL 345: FIL 220 or FIL 242
  • FIL 350: FIL 250
  • FIL 352: FIL 250
  • FIL 354: FIL 250
  • FIL 355: FIL 250
  • FIL 356: FIL 250
  • FIL 380a04: FIL 185
  • FIL 382a03: FIL 185
  • FIL 382a05: FIL 240 and FIL 250


Risk Management and Insurance

Degree Offered: B.S.

Sequences >

  • Risk Management and Insurance
  • Insurance-Business Information Systems (BIS)

Major in Risk Management and Insurance

The major in Risk Management and Insurance develops skills necessary to help identify, evaluate and manage key risks, including natural disasters and man-made catastrophes. The Insurance Major-Business Information Systems (BIS) Sequence is particularly appropriate for students preparing for careers in information systems within the insurance industry. Based on an A.M. Best survey of insurance employers, Illinois State University has been ranked in the top four undergraduate programs in risk management and insurance in the United States. The program is committed to the preparation of future industry leaders by supporting strong industry involvement with our students, innovative teaching by outstanding faculty, cutting-edge applied research, and a student-centered learning environment.

Students in the Risk Management and Insurance major must complete one of the following sequences.

Risk Management and Insurance Sequence

View Risk Management and Insurance Sequence Course Requirements

Insurance-Business Information Systems (BIS) Sequence

View Insurance-Business Information Systems (BIS) Sequence Course Requirements

Commonly Used Links

Illinois State

  • Milner Library
  • Technology Support Center
  • Maps and Directions
  • Search/A-Z
  • Academic Calendar
  • Safety and Security
  • Download ISU Mobile Apps

Students

  • My.IllinoisState.edu
  • Student Jobs
  • Catalog
  • Canvas
  • Undocumented Students, DACA, or Dreamers
  • Veterans and Military Services

Alumni

  • Alumni Association
  • Redbird Gear
  • Events
  • Magazine
  • Traditions

Faculty and Staff

  • Work at Illinois State
  • iPeople
  • Email and Office 365
  • Center for Integrated Professional Development
  • Shared Governance and Administration

© 2025 Illinois State University, Normal, IL USA | Contact Us

Privacy Statement | Cookie Statement | Identity Standards | Appropriate Use Policy | IBHE Online Complaint System | ISU Complaint Resolution | Accessibility | CARES Act Reporting

  • I. S. U. Facebook
  • I. S. U. Twitter
  • I. S. U. Instagram
  • I. S. U. Youtube
  • I. S. U. LinkedIn
  • I. S. U. TikTok
2025-05-14T11:38:27.156694213-07:00 2025
Closing menu Closing Menu
  • Close Menu
  • My
  • Contact
  • A to Z
  • Admissions
  • Academics
  • Research
  • Student Life
  • Athletics
  • About Us
  • Apply
  • Visit

Getting Started

  • Incoming Freshman
  • Transfer Students
  • Graduate Students
  • International Students
  • Out of State Students
  • Military Veterans
  • Returning to ISU
  • Homeschooled Students

Non-traditional

  • En Español
  • Undocumented Students
  • Visiting Students
  • Second Bachelor's Degree
  • Parents and Families
  • Academics Overview
  • Academic Support
  • Majors
  • Minors
  • Graduate Programs
  • Pre-Professional
  • Interdisciplinary Studies
  • Research Overview
  • Milner Library
  • Redbird Scholar
  • Student Life Overview
  • Housing
  • Dining
  • Student Organizations
  • Athletics Overview
  • GoRedbirds.com
  • About Us
  • Contact us
  • Administration
  • Our Community
  • Metrics of Excellence
  • Diversity and Inclusion
  • Traditions
  • Facility and Space Use
  • Learn How to Apply
  • What You Need Before You Apply
  • Deadlines
  • Fee and Waiver
  • Check Your Application Status
  • Disciplinary and Criminal Activity Disclosures
  • International Application Information
  • Schedule a Visit
  • Department Meetings
  • Driving Directions
  • Open House
  • Group Visits

University Resources

  • My Illinois State
  • Map
  • News
  • Events
  • Giving
Closing menu Closing Menu
OU Login