Personal Financial Planning Major
Why study personal financial planning at CMU?
The personal financial planning program at CMU fulfills all education requirements for Certified Financial Planner certification and examination. CMU is the only university in Michigan that prepares students for this exam. Consider these other key features distinguishing this program at CMU:
- Registered by the Certified Financial Planning Board of Standards
- A wide range of courses that prepare students for careers in personal financial planning and consulting
- Individualized guidance from faculty members with significant backgrounds in key areas of finance and financial planning
- Professional development opportunities in student organizations such as the Financial Management Association
Career outlook
According to the Bureau of Labor Statistics Occupational Outlook Handbook, for all occupations through the year 2014:
- Employment of financial planners, financial analysts, and similar occupations is expected to increase 18 to 26 percent.
- A college degree and good interpersonal skills are among the most important qualifications for these workers.
- Financial analysts and personal financial advisors with a professional designation are expected to have the best opportunities.
Career options
Graduates of the personal financial planning program at CMU will find a variety of career opportunities. Some of these may require additional education.
- Stock Broker
- Financial Planner
- Securities, Commodities, and Financial Services Sales Agents
- Financial Analyst
- Investment Specialist
- Insurance Sales Agents
- Financial Manager
- Real Estate Brokers and Sales Agents
Program Overview
The course listings below are a representation of what this academic program requires.
For a full review of this program in detail please see our official online academic bulletin
AND consult with an academic advisor. This listing does not include the General Education
courses required for all majors and may not include some program specific information, such as admissions, retention, and termination standards.
(Click on the course name or number for a complete course description.)
Personal Financial Planning Major
The Personal Financial Planning major prepares students for a career in personal financial planning and personal financial consulting.
( Total: 36 semester hours )
(9 hours)
Additional Common Body of Knowledge in Business Administration Courses
3
BUS 100 Essential Business Skills
Introduces students to the concept of a business, its disciplines, and essential business skills including decision making, team work, and oral and written communication. This course is approved for offering in a distance learning format.
3
BUS 300 Applied Business Statistics
Applications of statistical analysis to support business decision making. Covers collection of business data, analysis of business datasets, and presentation of results. Prerequisites: STA 282 or 382; Tier 2 Admission to Professional Business Studies.
3
MGT 499 Integrated Capstone-Strategic Management
An integrative capstone course applying and analyzing financial, marketing, supply chain and other business functions within a global strategic management perspective. Prerequisites: 86 semester hours completed; BUS 300, 301; MGT/MKT 303; FIN 302; MKT 304; Tier 2 Admission to Professional Business Studies. Preference given to graduating seniors.
(21 hours)
Required Courses
3
ACC 311 Federal Income Taxation I
Basic concepts of federal income taxation, emphasizing individual taxpayers. Tax law covering taxable and excludable income, deductions, basis, tax-free exchanges, capital gains and losses, tax credits, deferral of tax, and depreciation. Prerequisites: 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor. Recommended: ACC 202 or 255
3
FIN 307 Fundamentals of Personal Financial Planning
A professional course with emphasis on the personal financial planning process and the roles of health, property and liability insurance in financial planning. Prerequisites: ACC 201 or ACC 250.
3
FIN 315 Principles of Investments
Provides students with basic knowledge about different investments and sources of information to enable them to make wiser investments and prepare to build portfolios. Prerequisites: 56 hours completed; admission to Professional Business Studies or listed on a signed major or minor.
3
FIN 317 Insurance Planning
This course introduces students to risk management and insurance decisions in personal financial planning, including health, disability, property, liability, and long-term care risks and insurance. Prerequisites: ACC 201 or 250; BLR 202 or 235; STA 282 or 382; admission to Professional Business Studies or listed on a signed major or minor.
3
FIN 347 Retirement Planning
This course covers issues that individuals face in retirement (money needs, life-styles, medical) and develops an understanding of both public and private retirement plans. Prerequisites: ACC 311, FIN 315, FIN 307; 56 semester hours completed; admission to Professional Business Studies or listed on a signed major or minor.
3
FIN 445/BLR 445 Personal Estate Planning
Fundamentals of estate planning for personal use and professional training. Professional topics target applications in trust administration, accounting, and personal financial planning. Identical to BLR 445. Credit may not be earned in more than one of these courses. Prerequisites: FIN 347; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
FIN 447 Cases in Personal Financial Planning
Capstone personal financial planning course in client-centered personal financial planning. This course applies principles of personal financial planning in case studies. Prerequisites: FIN 317, FIN 347, completion or current enrollment in FIN 445; 56 semester hours completed; admission to Professional Business Studies.
Select 2 courses from the following:
3
FIN 335 Real Estate Principles
An introduction to real estate practice, institutions and participants with a focus on investment decision making, valuation, and debt financing. Prerequisite: ECO 202 or 203.
3
FIN 425 Options and Futures
Survey of markets for futures and options on financial securities and commodities. Valuation of futures/options and application for hedging risk. Prerequisites: FIN 302 or FIN 332, FIN 315 56 semester hours completed; admission to Professional Business Studies or listed on a signed major or minor.
3
FIN 442 Intermediate Financial Management
In-depth examination of financial management. Current theory and practices are discussed with applications including computer simulations, comprehensive cases, and a term project. Prerequisites: FIN 302 or FIN 332; 56 semester hours completed; admission to Professional Business Studies or listed on a signed major or minor.
3
FIN 455 Portfolio Management
Learn advanced methods of analyzing and valuing both debt and equity securities, as well as theories and techniques for combining assets into efficient portfolios. Prerequisites: FIN 302 or FIN 332; FIN 315; 56 semester hours completed; admission to Professional Business Studies or listed on a signed major or minor.
3
FIN 472 Money and Capital Markets
Survey of money and capital markets, strategies for growth, and timing of financial policy. Prerequisites: FIN 302 or FIN 332; ECO 201 or ECO 204, ECO 202 or ECO 203; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
3
FIN 482 Working Capital Management
In-depth examination of working capital within the firm, emphasizing the short term aspects of financial management. Computer simulations, comprehensive cases, and term project are required. Prerequisites: FIN 302 or FIN 332; 56 semester hours completed; admission to Professional Business Studies or listed on signed major or minor.
1-3
FIN 490 Internship in Finance
Enrollment confined to a limited number of students working in business situations for educational experience. Prerequisites: permission of the department chairperson; admission to Professional Business Studies or listed on signed major or minor.
3
FIN 573 International Finance
Role of financial manager in international corporations. Environmental problems of foreign exchange. Techniques for making investment decisions, financing marketing operations, long-term capital structure and flow of funds. Prerequisites: FIN 302 or FIN 332; 56 semester hours completed and admission to Professional Business Studies or listed on signed major or minor.
3
MKT 340 Personal Selling
Analysis of the field of personal selling as a vital element of the promotional efforts of the firm. Prerequisites: MKT 300 or MKT 304; 56 semester hours completed; admission to Professional Business Studies or listed on a signed major or minor; or with approval from the Office of Undergraduate Business Studies.