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Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS MAT 4057 LIFE INSURANCE MATHEMATICS ELECTIVE 4 0 0 7

Offered By

Mathematics

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR GÜÇKAN YAPAR

Offered to

Mathematics (Evening) Mathematics

Course Objective

The course is a study of single life functions including the measurement of mortality; life annuities; life insurance; net annual premiums; and net level premiums. And to understanding concept of reserves.

Learning Outcomes of the Course Unit

1   Interest and discount rate in respect of simple and compound interest operations 2   To use mortality table and to calculate life expectancy. 3   To learn types of life insurance. 4   To calculate annual premium for life insurance. 5   To learn types of life annuities. 6   To calculate annual Premium for life annuities. 7   To calculate prospective and retrospective reserves.

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description 1 The Theory of Interest. 2 Time Value of Money and calculation of Annuities 3 Mortality Table and Functions. 4 Expectation Life Time 5 Life Insurance and Net Single Premium 6 Whole Life, Endowment, Deferred and Term Insurance. 7 Accumulated Value of Life Insurance. 8 Midterm 9 Variable Benefit Insurance, Continuous Life Annuities and Annual Net Premium. 10 Continuous Temporary Life Annuities, Deferred Life Annuities. 11 Discrete Life Annuities, Life Annuities with monthly payments 12 Accumulated value for life annuities. 13 Rezerve. 14 Prospective Reserves. Retrospective Reserves.

Recomended or Required Reading

Bowers et al, Actuarial Mathematics,2nd Edition, Society of Actuaries, 1997 Supplementary Books: C. Ruckman and J. Francis, Life Insurance, 2th Edition, BPP.

Planned Learning Activities and Teaching Methods

The course consists of lecture, class discussion and problem solving.

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA 1 MTE MIDTERM EXAM 2 FIN FINAL EXAM 3 FCG FINAL COURSE GRADE MTE * 0.40 + FIN * 0.60 4 RST RESIT 5 FCGR FINAL COURSE GRADE (RESIT) MTE * 0.40 + FIN * 0.60 *** Resit Exam is Not Administered in Institutions Where Resit is not Applicable.

Further Notes About Assessment Methods

None

Assessment Criteria

To be announced.

Language of Instruction

English

Course Policies and Rules

1. Attending the 70% of the classes are mandotary. 2. Students will come to the class in time.

Contact Details for the Lecturer(s)

DEU. Faculty Sciences Department of Statistics B112 e-mail: guckan.yapar@deu.edu.tr Tel: 0232 3018559

Office Hours

To be announced.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours) Lectures 13 4 52 Preparations before/after weekly lectures 12 4 48 Preparation for midterm exam 1 20 20 Preparation for final exam 1 30 30 Preparing assignments 1 14 14 Final 1 2 2 Midterm 1 2 2 TOTAL WORKLOAD (hours) 168

Contribution of Learning Outcomes to Programme Outcomes

PO/LO PO.1 PO.2 PO.3 PO.4 PO.5 PO.6 PO.7 PO.8 PO.9 PO.10 PO.11 PO.12 PO.13 LO.1 5 4 5 LO.2 5 4 5 LO.3 5 4 5 LO.4 5 4 5 LO.5 5 4 5 LO.6 5 4 5 LO.7 5 4 5