KFPMII Actuarial Theory II

Faculty of Economics and Administration
Spring 2009
Extent and Intensity
0/0. 5 credit(s). Type of Completion: zk (examination).
Teacher(s)
Mgr. Petr Červinek (lecturer)
Guaranteed by
prof. Ing. Jiří Dvořák, DrSc.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Timetable
Sun 8. 3. 12:50–16:15 P201, Sat 28. 3. 12:50–16:15 P201, Sat 25. 4. 8:30–11:50 P201
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
The capacity limit for the course is 80 student(s).
Current registration and enrolment status: enrolled: 0/80, only registered: 0/80, only registered with preference (fields directly associated with the programme): 0/80
fields of study / plans the course is directly associated with
Course objectives
On the basis of calculus of probabilities and applied actuarial statistics, students will become acquainted with the design and use of actuarial mathematics in non-life insurance. In addition, they will get acquainted with the concepts of actuarial mathematics of non-life insurance such as damages tables, damage rates, tariff groups, coinsurance, reinsurance and others. They will learn how to calculate gross and net insurance premiums.

At the end of the course students will:
- understand the basic principles of computing in non-life insurance;
- be able to calculate net and gross insurance premiums;
- understand and master the basic methods of reserves calculating in non-life insurance.
Syllabus
  • Thematic plan of lectures:
  • 1 Applied actuarial statistics - basic concepts.
  • 2 Applied actuarial statistics - probability distribution in insurance industry.
  • 3 Applied actuarial statistics - models of collective risk.
  • 4 Basic concepts and basic principles of the insurance, insurance company risks. General terms of non-life insurance premiums, examples of insurance products.
  • 5 Tariff groups and basic indicators that an insurance company monitors statistically.
  • 6 Calculation of non-life insurance premiums.
  • 7 Net premium - different forms of insurance.
  • 8 Coinsurance - fundamental concepts, types of coinsurance.
  • 9 Net premium - multi-annual insurance. Gross premiums.
  • 10 Reinsurance - proportional reinsurance, non-proportional reinsurance.
  • 11 Insurance reserves in non-life insurance.
  • 12 Solvency of an insurance company.
  • 13 Mathematical modelling in non-life insurance - insurance models in time, probability of ruining, Bonus-malus system.
Literature
  • CIPRA, Tomáš. Finanční a pojistné vzorce. 1. vyd. Praha: Grada, 2006, 374 s. ISBN 802471633X. info
  • CIPRA, Tomáš. Pojistná matematika : teorie a praxe. Vyd. 1. Praha: Ekopress, 1999, 398 s. ISBN 8086119173. info
Assessment methods
Students will compile a work, which will be forwarded the day before the last tutorial at the latest. During the last tutorial a check test will be taken (testing all the topics treated during all previous tutorials). If a student cannot attend the check test or fails it, he/she can take a replacement check test, but no more than one replacement check test. The term of the replacement test will be uniform for all and only one replacement test term for all will be announced. The test is written and oral.
Students are allowed to take the test after the following requirements have been met:
- their seminar work has been handed over and marked with PASSED by a tutor.
- passing a check test (scoring at least 50%).
The resulting mark is made up of:
Check test evaluation (25%) + evaluation of the written test (50%) + evaluation of the oral test (25%).
To evaluate the performance of students the following scale is applied:
A 91 - 100%
B 84 - 90%
C 76 - 83%
D 68 - 75%
E 60 - 67%
F less than 60%

If a student commits a prohibited act, such as usage of various forbidden tools, cribbing, taking out any part of the test or any other cheating, teacher is allowed to interrupt the test and to grade a student with F, FF or FFF. In the case of a serious offense the suggestion of disciplinary proceedings will be triggered to Disciplinary Board.
Language of instruction
Czech
Further Comments
Study Materials
The course is taught annually.
The course is also listed under the following terms Autumn 2001, Autumn 2002, Autumn 2003, Autumn 2004, Autumn 2005, Autumn 2006, Spring 2007, Spring 2008.
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