Course Information


Course Information
Course Title Code Semester L+U Hour Credits ECTS
ACTUARIAL RISK MANAGEMENT UAKT302 6. Semester 2 + 2 3.0 5.0

Prerequisites None

Language of Instruction Turkish
Course Level Bachelor's Degree
Course Type Compulsory
Mode of delivery Oral presentation
Course Coordinator
Instructors
Assistants
Goals Aim of this course is to teach valuation methods for multiple life functions, multiple life insurances and multiple decrement rates and to give them the ability of calculating premium and reserve, compensation for loss of support and invalidity benefit by using these techniques.
Course Content Compound Life Functions, Last-survivor status, Law Of Uniform Seniority, Z Method, Compound Statues, Contingent Probabilities, Contingent Functions, Special Compound and Contingent Functions, Validation of Contingent Functions, Premiums for Contingent Insurances, Reversionary Annuities, Special and Contingent Annuities, Multiple Decrement Tables, Force of Decrement Rates, Central Rates, Constructing multiple decrement tables by using single decrement tables, Calculating compensation for loss of support and evaluating health insurance
Learning Outcomes 1) Evaluate joint life and last-survivor functions and insurance.
2) Calculate premium and reserves for contingent, compound and reversionary annuities.
3) Construct multiple decrement tables by using single decrement tables.
4) Calculate and evaluate probability rates by using multiple decrement tables, calculate premium and reserves.
5) Interpret actuarial calculations which is commonly used in practice.

Weekly Topics (Content)
Week Topics Teaching and Learning Methods and Techniques Study Materials
1. Week Compound Life Functions Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
2. Week Last-survivor status Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
3. Week Law Of Uniform Seniority, Z Method Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
4. Week Compound Statues Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
5. Week Contingent Probabilities Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
6. Week Contingent Functions Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
7. Week Special Compound and Contingent Functions Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
8. Week Midterm exam

9. Week Validation of Contingent Functions, Premiums for Contingent Insurances Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
10. Week Reversionary Annuities Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
11. Week Special and Contingent Annuities Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
12. Week Multiple Decrement Tables, Force of Decrement Rates, Central Rates Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
13. Week Constructing multiple decrement tables by using single decrement tables Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
14. Week Calculating compensation for loss of support and evaluating health insurance Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
15. Week Preparation for Final Exam Lecture; Question Answer; Discussion

 Presentation (Including Preparation Time)
16. Week Final exam


Sources Used in This Course
Recommended Sources
Bowers N., Gerber H., Hickman J., Jones D., Nesbitt C., Actuarial Mathematics, The Society of Actuaries, 1997.
Dickson D., Hardy M., Waters H., Actuarial Mathematics for Life Contingent Risks, 2009.
Jordan C.W., Life Contingencies, SOA, Illinois, 1991.
Neill A., Life Contingencies, William Heinemann, London, 1983.

Relations with Education Attainment Program Course Competencies
Program RequirementsContribution LevelDK1DK2DK3DK4DK5
PY1500000
PY2500000
PY3500000
PY4500000
PY5500000

*DK = Course's Contrubution.
0 1 2 3 4 5
Level of contribution None Very Low Low Fair High Very High
.

ECTS credits and course workload
Event Quantity Duration (Hour) Total Workload (Hour)
Course Duration (Total weeks*Hours per week) 14 4
Work Hour outside Classroom (Preparation, strengthening) 14 4
Midterm Exam 1 2
Time to prepare for Midterm Exam 1 18
Final Exam 1 2
Time to prepare for Final Exam 1 24
Total Workload
Total Workload / 30 (s)
ECTS Credit of the Course
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Course Information
  • Course Information
  • Weekly Topics (Content)
  • Sources Used in This Course
  • Relations with Education Attainment Program Course Competencies
  • ECTS credits and course workload