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

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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:

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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.

 

Finance, Insurance and Law

Degree Offered: B.S.

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

Take one of the following options:

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:

Minor in Risk Management and Insurance

34 total hours required

Take 3 courses from the following 

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.

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