Code | Name of the Course Unit | Semester | In-Class Hours (T+P) | Credit | ECTS Credit |
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BAY417 | ACTUARY AND INSURANCE TRANSACTIONS | 7 | 3 | 3 | 8 |
GENERAL INFORMATION |
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Language of Instruction : | Turkish |
Level of the Course Unit : | BACHELOR'S DEGREE, TYY: + 6.Level, EQF-LLL: 6.Level, QF-EHEA: First Cycle |
Type of the Course : | Compulsory |
Mode of Delivery of the Course Unit | - |
Coordinator of the Course Unit | Assoc.Prof. HAKAN ÖZCAN |
Instructor(s) of the Course Unit | |
Course Prerequisite | No |
OBJECTIVES AND CONTENTS |
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Objectives of the Course Unit: | Objective of the course is to help students gain the knowledge and skill to use statistical and mathematical methods in order to determine the insurance premiums and reserves in case of uncertainty |
Contents of the Course Unit: | Contents of the course include: Value and Accumulated Amount Accounts,Introduction to Life Tables, Definition of Life Tables,Types of Life Tables,Elements of Life Table, Characteristics of Life Tables, Use of Life Tables in Health Insurance, Creating Life Tables, Commutation Tables, Definition of Commutation Tables, Creating Commutation Tables, Mathematical Provisions, Calculation of Premium and Compensations in Some Capital, Life and Income Insurances |
KEY LEARNING OUTCOMES OF THE COURSE UNIT (On successful completion of this course unit, students/learners will or will be able to) |
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Define the basic concepts of insurance, its history and characteristics |
Perform the types and calculations of annuities |
Apply income calculation and interpretation using technical information |
Analyze risk factors by collecting data related to insurance |
WEEKLY COURSE CONTENTS AND STUDY MATERIALS FOR PRELIMINARY & FURTHER STUDY |
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Week | Preparatory | Topics(Subjects) | Method |
1 | - | Definition of Insurance/Its History/Used Terms/ Characteristics of Insurance | Narration and Discussion method |
2 | Reading book chapters related with the subject | Simple and Compound Discount and Transactions. Applications. Simple and Compound Discount and Transactions | Narration and Discussion method |
3 | Reading book chapters related with the subject | Simple and Compound Discount and Transactions. Applications. Simple and Compound Discount and Transactions | Narration and Discussion method |
4 | Reading book chapters related with the subject | Compound Interest Theory and its application in Insurance | Narration and Discussion method |
5 | Reading book chapters related with the subject | Introduction to Life Tables,Definition of Life Tables, Types of Life Tables, Elements and Calculations of Life Tables | Narration and Discussion method |
6 | Reading book chapters related with the subject | Claims payments -1 | Narration and Discussion method |
7 | Reading book chapters related with the subject | Claims payments -2 | Narration and Discussion method |
8 | - | MID-TERM EXAM | - |
9 | Reading book chapters related with the subject | Claims payments -3 | Narration and Discussion method |
10 | Reading book chapters related with the subject | Characteristics of Life Tables, Use of Life Tables in Health Insurance, Creating Life Table | Narration and Discussion method |
11 | Reading book chapters related with the subject | Commutation Tables, Definition of Commutation Tables, Creating Commutation Tables | Narration and Discussion method |
12 | Reading book chapters related with the subject | Mathematical Provisions | Narration and Discussion method |
13 | Reading book chapters related with the subject | Calculation of Premium and Compensations in Some Capital, Life and Income Insurances | Narration and Discussion method |
14 | Reading book chapters related with the subject | Current legal regulations on Insurance-1 | Narration and Discussion method |
15 | Reading book chapters related with the subject | Current legal regulations on Insurance-2 | Narration and Discussion method |
16 | - | FINAL EXAM | - |
17 | - | FINAL EXAM | - |
SOURCE MATERIALS & RECOMMENDED READING |
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Erduran, F. (2011), Aktüerya Matematiği ve Yaşam Analizi, Adana: Nobel Kitabevi |
Olivieri, A., Pitacco, E. (2015), Introduction to Insurance Mathematics, London:Springer |
Kaya, F. (2013), Sigortacılık, İstanbul: Beta Basım |
ASSESSMENT |
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Assessment & Grading of In-Term Activities | Number of Activities | Degree of Contribution (%) | Description |
Level of Contribution | |||||
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0 | 1 | 2 | 3 | 4 | 5 |
KNOWLEDGE |
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Theoretical |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Define basic concepts related with banking, insurance and finance.
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5 | |||||
2 |
Relates the theoretical and practical knowledge in the field to economics, business, law, statistics, accounting and marketing
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5 |
KNOWLEDGE |
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Factual |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Relate banking and insurance applications to financial theories, mathematical and statistical methods.
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4 | |||||
2 |
Relate the information and facts in the field with other social sciences such as law, sociology, philosophy and history.
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4 |
SKILLS |
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Cognitive |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Explain the planning and implementation process in banking and insurance transactions.
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4 | |||||
2 |
Provide solutions for the problems encountered in banking and insurance transactions.
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5 |
SKILLS |
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Practical |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Use theoretical and practical knowledge in the field of banking and insurance transactions.
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5 | |||||
2 |
By analyzing economic data accurately, manage savings and portfolio investments to minimize financial risks.
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4 |
OCCUPATIONAL |
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Autonomy & Responsibility |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
He/She works as a leader or a team member in a teamwork from the planning of the banking transactions to the implementation and performs the task assigned to them within the team.
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4 |
OCCUPATIONAL |
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Learning to Learn |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Gain the basic knowledge necessary for the planning process of banking and insurance activities and human resources performance management.
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5 | |||||
2 |
Use the computer programs related with field in banking and insurance transactions.
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4 |
OCCUPATIONAL |
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Communication & Social |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Cooperate to bring innovative ideas to the stakeholders in the sector using banking insurance-related databases, information and communication technologies.
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4 | |||||
2 |
Research on scientific, sectoral developments and innovations related to the field with lifelong learning as a principle.
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5 |
OCCUPATIONAL |
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Occupational and/or Vocational |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Analyze financial data related to his / her field.
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4 | |||||
2 |
Apply knowledge and skills related to his / her field by taking into account his legal, social and ethical responsibilities.
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5 |
WORKLOAD & ECTS CREDITS OF THE COURSE UNIT |
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Workload for Learning & Teaching Activities |
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Type of the Learning Activites | Learning Activities (# of week) | Duration (hours, h) | Workload (h) |
Lecture & In-Class Activities | 14 | 3 | 42 |
Preliminary & Further Study | 14 | 3 | 42 |
Land Surveying | 0 | 0 | 0 |
Group Work | 5 | 3 | 15 |
Laboratory | 0 | 0 | 0 |
Reading | 10 | 3 | 30 |
Assignment (Homework) | 6 | 4 | 24 |
Project Work | 0 | 0 | 0 |
Seminar | 0 | 0 | 0 |
Internship | 0 | 0 | 0 |
Technical Visit | 0 | 0 | 0 |
Web Based Learning | 0 | 0 | 0 |
Implementation/Application/Practice | 0 | 0 | 0 |
Practice at a workplace | 0 | 0 | 0 |
Occupational Activity | 0 | 0 | 0 |
Social Activity | 0 | 0 | 0 |
Thesis Work | 0 | 0 | 0 |
Field Study | 0 | 0 | 0 |
Report Writing | 0 | 0 | 0 |
Final Exam | 1 | 1 | 1 |
Preparation for the Final Exam | 7 | 5 | 35 |
Mid-Term Exam | 7 | 2 | 14 |
Preparation for the Mid-Term Exam | 0 | 0 | 0 |
Short Exam | 0 | 0 | 0 |
Preparation for the Short Exam | 0 | 0 | 0 |
TOTAL | 64 | 0 | 203 |
Total Workload of the Course Unit | 203 | ||
Workload (h) / 25.5 | 8 | ||
ECTS Credits allocated for the Course Unit | 8,0 |