MKF_POMA Actuarial Theory

Faculty of Economics and Administration
Autumn 2014
Extent and Intensity
0/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Mgr. Silvie Zlatošová, Ph.D. (lecturer)
Guaranteed by
Mgr. Silvie Zlatošová, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Sat 25. 10. 12:50–16:15 P304, Sun 7. 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
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
  • Life Insurance
  • 1) Basic concepts, basic principles of insurance, insurance companies’ risk.
  • 2) Mortality tables, commutating numbers and their use.
  • 3)Calculation of the single premium in case of deat and life age x+n.
  • 4)Calculation of the single mixed insurance, pension insurance.
  • 5)Insurance with fixed time payroll, calculation of the normally paid premiums, general equation of equivalence.
  • 6) Gross premiums for life insurance and its calculation.
  • 7) Reserve for certain types of life and pension insurance.
  • 8) Zillmer reserve, actuarial calculations based on the net and gross reserve.
  • Non-life Insurance
  • 9)Tariff groups and basic indicators in non-life insurance, gross premiums.
  • 10)Insurance reserves, calculation of the outstanding claims reserves.
  • 11)Bonus-malus systems, Markov analysis.
  • 12)Mathematical modeling (introduction to the theory of risk, models the number of claims).
  • 13) Mathematical modeling (models for claim amount, insurance models in time).
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
  • CIPRA, Tomáš. Pojistná matematika : teorie a praxe. Vyd. 1. Praha: Ekopress, 1999, 398 s. ISBN 8086119173. info
    recommended literature
  • ČÁMSKÝ, František. Pojistná matematika v životním a neživotním pojištění. 1. vyd. Brno: Masarykova univerzita, 2004, 115 s. ISBN 8021033851. 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
  • 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 60% success rate).
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%

Any copying, recording or obtaining tests, use of unauthorized tools as well as other means of communication or objectivity distortion test (credit) will be considered as failure to comply with the course completion and a gross violation of regulations. Consequently, teacher close examination (credit) in the evaluation of IS grade "F" and the Dean initiates disciplinary proceedings which may result in up to exclusion from the study.
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.
Information about innovation of course.
This course has been innovated under the project "Inovace studia ekonomických disciplín v souladu s požadavky znalostní ekonomiky (CZ.1.07/2.2.00/28.0227)" which is cofinanced by the European Social Fond and the national budget of the Czech Republic.

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The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020.
  • Enrolment Statistics (Autumn 2014, recent)
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