ESF:MKF_POMA Actuarial Theory - Course Information

MKF_POMA Actuarial Theory

Extent and Intensity

0/0. 6 credit(s). Type of Completion: zk (examination).

Teacher(s)

Mgr. Petr Červinek (lecturer)

Guaranteed by

Mgr. Petr Červinek
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková

Timetable

Sat 29. 10. 12:50–16:15 P403, Sun 11. 12. 8:30–11:50 P304

Prerequisites

! KFPOMI Actuarial Theory I
Actuarial builds on the knowledge of mathematics and statistics, financial mathematics, insurance.

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

• Finance (programme ESF, N-FU)

Course objectives

On the basis of the probability theory they will get acquainted with the design and use of mortality tables and their importance in life insurance. Using calculations based on the patterns derived from a single, ordinary and net premium of short-term insurance the students will be able to understand the issue of basic types of insurance. They will be also familiar with the general equation of equivalence and its use.

The main objectives of the course are:
Understanding the basics of actuarial methods and procedures of calculating the basic characteristics of the classic types of insurance; understanding of the principle of the calculations in the actuarially, the ability to independently solve problems as well as non-standard insurance

Syllabus

• Theme plan - Lectures
• 1) Basic concepts, basic principles of insurance, insurance companies’ risk.
• 2) Mortality tables, commutating numbers and their use.
• 3) Single premium life insurance (in case of death, life age x+n and its combination of temporary in the event of death).
• 4) Single mixed insurance, life insurance with guard period, normally paid premiums for life insurance. General equation of equivalence and its use for calculations.
• 5) Premiums for life insurance paid by m-times per year, the risk of insurance companies in the life insurance premiums.
• 6) Gross premiums for life insurance and its calculation.
• 7) Single premiums for pension insurance (life before-date immediate and after-date insurance, temporary insurance before-date and after-date).
• 8) Single premiums for life insurance, retirement and deferred temporary.
• 9) Current and short-term premiums for life insurance and deferred temporary retirement. Payable annually and m-times per year.
• 10) Gross premiums for pension insurance.
• 11) Net reserve for certain types of life and pension insurance. The general formula for the calculation of net reserves. Zillmer reserve.
• 12) Actuarial calculations based on the net and gross reserve (the calculation of surrender, reduction of the insured amount in unpaid premiums, reserve balance and profit sharing)
• 13) insurance for two people - mortality tables for a pair of people, the probability of life for two people, the probability of death of two people, commutating number, a pair of life insurance, retirement insurance for two people (the first death, the second death, from first to second death).

Literature

required literature
• ČERVINEK, Petr. Pojistná matematika I (Actuarial Mathematics I). 1st ed. Brno: ESF MU, 2008, 73 pp. ISBN 978-80-210-4532-3. info

recommended literature
• CIPRA, Tomáš. Pojistná matematika : teorie a praxe. Vyd. 1. Praha: Ekopress, 1999, 398 s. ISBN 8086119173. info
• PROMISLOW, S. David. Fundamentals of actuarial mathematics. Chichester: John Wiley & Sons, 2006, xix, 372. ISBN 0470016892. info
• GERBER, Hans U. Life insurance mathematics. Edited by Samuel H. Cox. 3rd ed. Zurich: Springer, 1997, xvii, 217. ISBN 354062242X. info
• MILBRODT, Hartmut and Manfred HELBIG. Mathematische Methoden der Personenversicherung. Berlin: Walter de Gruyter, 1999, xi, 654. ISBN 3110142260. info
• BOOTH, P. Modern actuarial theory and practice. 2nd ed. Boca Raton: Chapman & Hall/CRC, 2005, xxxiii, 79. ISBN 1584883685. info
• ČÁMSKÝ, František. Pojistná matematika v životním a neživotním pojištění (Insurence matematics of insurence life). 2004th ed. Brno: Vydavatelství MU, Brno-Kraví hora, 2005, 153 pp. ISBN 80-210-3385-1. info
• MØLLER, Thomas and Mogens STEFFENSEN. Market-valuation methods in life and pension insurance. 1st ed. Cambridge: Cambridge University Press, 2007, xiv, 279. ISBN 9780521868778. info

Assessment methods

Students processed POT, which forwarded the day before the last tutorial.
During the last tutorial a control test will be written (the content of the topics examined to all previous tutorials).
If a student can not attend the inspection test or fails in a control test, the writing spare control test, but no more than an alternative test.
The term replacement will be a test for all and will be announced only one term replacement test.
The test is written and oral.
Condition for admission to the test is accepted POT and successfully control written test (ie at least 50% success rate).
The resulting mark is made up of:
Test evaluation (25%) + evaluation of the written test (50%) + evaluation of the oral test (25%).
To evaluate the performance of students in the test the following scale:
A = 92 - 100%
B = 84 - 91%
C = 76 - 83%
D = 68 - 75%
E = 60 - 67%
F = less than 60%

If the student uses during the tests illegal acts such as the use of illegal equipment , copying, obtaining the award of the tests and even anti-course tests, teachers interrupted the test and according to the gravity of the offense to grant class IS F, or FF, or and the FFF. In the case of a serious offense will be triggered Disciplinary Board disciplinary proceedings.

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
General note: Nezapisují si studenti, kteří absolvovali předmět KFPOMI.
Credit evaluation note: k=1.

• Enrolment Statistics (Autumn 2011, recent)
  
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