LIFE INSURANCE MATHEMATICS

IRM507

Course Code: IRM507
Semester: -
Theory+Practice: 3 + 0
ECTS: 10

Course Type

Elective Course

Course Level

Master's Degree With Thesis

Year of Study

Semester

ECTS

Name of Lecturer(s)

Learning Outcomes

At the end of this course, the students;

Make comparison between companies
Evaluate the risks for the future
Improve the ability to calculate premium paid
Evaluate the possibility of life and death
Analyze to calculate premiums

Mode of Delivery

Face to face

Prerequisites

Recommended Optional Programme Components

None

Course Description

This course focuses on the calculations, which are being implemented in the insurance company premiums, compensation calculations, rant, math calculations to find money.

Course Contents

WEEK	TOPICS
1^st Week	Introduction, theory of interest
2^nd Week	Present value and discount
3^rd Week	Accumulated value calculations
4^th Week	Annuities and varieties
5^th Week	Present value and accumulated value calculations in annuities
6^th Week	Amortization schedules and sinking fund
7^th Week	Bonds and securities
8^th Week	Midterm
9^th Week	Capital budgeting techniques
10^th Week	Life tables
11^th Week	Life insurances
12^th Week	Premium calculations in life insurances
13^th Week	The concept of reserve
14^th Week	Actuarial reserve models

Recommended or Required Reading

Bowers N.L., H.U.Gerber, J.C. Hickman, D.A. Jones, and C.J.Nesbitt, 1986, Actuarial Mathematics.
A.K. Gupta, T. Varga, An Introduction to Actuarial Mathemetics
S.D. Promislow,Fundamental's of Actuarial Mathemetics
S. Kellison, The Theory of Interest

Planned Learning Activities and Teaching Methods

Lecture
Discussion
Questions/Answers

Assessment Methods and Criteria

	Quantity	Percentage (%)
Mid-term	1	40
Quiz	1	10
Total(%)		50
Contribution of In-term Studies to Overall Grade(%)		50
Contribution of Final Examination to Overall Grade(%)		50
Total(%)		100

ECTS Allocated Based on Student Workload

Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Midterm exam	1	3	3
Preparation for Quiz	1	3	3
Individual or group work	14	12	168
Preparation for Final exam	1	45	45
Course hours	14	3	42
Preparation for Midterm exam	1	35	35
Laboratory (including preparation)
Final exam	1	3	3
Homework
Total Work Load			299
Total Work Load / 30 (h)			9.96
ECTS Credit of the Course			10

Language of Instruction

Turkish

Work Placement(s)

Programme Qualifications / Learning Outcomes

	LO1	LO2	LO3	LO4	LO5
K1			X
K2	X	X		X
K3	X
K4				X	X
K5	X
K6
K7				X
K8	X			X
K9
K10					X