Introduction to Actuarial Science

Uitgebreide vaknaam	Introduction to Actuarial Science
Leerdoelen	Upon completion of the course the student is able to: 1.Describe the long-term coverages products of life insurance, annuities, and retirement benefits, and concerns and considerations for insurance companies when selling such products. 2.Give examples of the applicability of the actuarial models in the field of insurance, mortgages and pensions. 3.Explain how a life table is constructed, its (un)certainties and the consequences of those (un)certainties for life insurance and annuity products. 4.Calculate the (actuarial) present value of various life insurance products, based on the type of contract and the given life table using both manual calculation and statistical software. 5.Apply actuarial models and/or mathematical statistics to assess risks in a portfolio of life insurance products. 6.Determine the most suitable technique from mathematics, statistics and probability to solve problems in life insurance. 7.Analyze the solutions and outcomes to life insurance problems (in English) and their implications for the client and the insurance company.
Omschrijving	The economics and mathematics of life contingencies. Topics include survival analysis and life tables, life insurances, life annuities, and premium calculation.
Uren per week	4
Onderwijsvorm	-hoorcollege ,  -werkcollege
Toetsvorm	-groepsopdracht,  -individuele opdracht,  -schriftelijk tentamen (open vragen)
Vaksoort	bachelor
Coördinator	Dr. K.W. Chau
Docent(en)	Dr. K.W. Chau , W. Zhu, PhD.
Verplichte literatuur	Titel Auteur ISBN Prijs Actuarial Mathematics for Life Contingent Risks, 3rd Edition, 2020 Dickson, et al. 9781108478083 ca. €  89,00
Entreevoorwaarden
Opmerkingen	Info: dr. Ki Wai Chau, e-mail k.w.chau@rug.nl. Secretary: Martine Geerlings-Koolman, phone +31(0)50 36 37018, e-mail m.a.koolman@rug.nl.
Opgenomen in	Opleiding Jaar Periode Type BSc Econometrics and Operations Research/EOR  (basisprogramma BSc EOR) 2 semester II a verplicht BSc Mathematics: General Mathematics  (Electives and Minor General Mathematics) 3 semester II a keuze BSc Mathematics: Probability and Statistics 3 semester II a keuzegroep BSc Technische Wiskunde 3 semester II a keuze Courses Exchange (BSc)  (Courses Exchange Students (BSc) without limited access) 2 semester II a keuze Pre-MSc-programma’s FEB  (Pre-MSc EORAS) 1 semester II a verplicht