ACTUARY AND INSURANCE TRANSACTIONS PROGRAMME COURSE DESCRIPTION

Code	Name of the Course Unit	Semester	In-Class Hours (T+P)	Credit	ECTS Credit
BAY417	ACTUARY AND INSURANCE TRANSACTIONS	7	3	3	8

GENERAL INFORMATION
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	Assoc.Prof. HAKAN ÖZCAN
Course Prerequisite	No

OBJECTIVES AND CONTENTS
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)
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
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
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
Assessment & Grading of In-Term Activities	Number of Activities	Degree of Contribution (%)	Description

Level of Contribution
0	1	2	3	4	5

KNOWLEDGE
Theoretical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Define basic concepts related with banking, insurance and finance.						5
2	Relates the theoretical and practical knowledge in the field to economics, business, law, statistics, accounting and marketing						5

KNOWLEDGE
Factual
	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.					4
2	Relate the information and facts in the field with other social sciences such as law, sociology, philosophy and history.					4

SKILLS
Cognitive
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Explain the planning and implementation process in banking and insurance transactions.					4
2	Provide solutions for the problems encountered in banking and insurance transactions.						5

SKILLS
Practical
	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.						5
2	By analyzing economic data accurately, manage savings and portfolio investments to minimize financial risks.					4

OCCUPATIONAL
Autonomy & Responsibility
	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.					4

OCCUPATIONAL
Learning to Learn
	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.						5
2	Use the computer programs related with field in banking and insurance transactions.					4

OCCUPATIONAL
Communication & Social
	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.					4
2	Research on scientific, sectoral developments and innovations related to the field with lifelong learning as a principle.						5

OCCUPATIONAL
Occupational and/or Vocational
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Analyze financial data related to his / her field.					4
2	Apply knowledge and skills related to his / her field by taking into account his legal, social and ethical responsibilities.						5

WORKLOAD & ECTS CREDITS OF THE COURSE UNIT
Workload for Learning & Teaching Activities
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