APPLIED MATHEMATICS (TURKISH, THESIS) | |||||
Master | TR-NQF-HE: Level 7 | QF-EHEA: Second Cycle | EQF-LLL: Level 7 |
Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
AKB5001 | Statistical Models in Insurance | Spring | 3 | 0 | 3 | 8 |
This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester. |
Language of instruction: | Turkish |
Type of course: | Departmental Elective |
Course Level: | |
Mode of Delivery: | Face to face |
Course Coordinator : | Dr. Öğr. Üyesi BAHAR KÖSEOĞLU |
Course Lecturer(s): |
Dr. Öğr. Üyesi BAHAR KÖSEOĞLU |
Recommended Optional Program Components: | None. |
Course Objectives: | To introduce the student the statistical models used in life and non-life insurance. |
The students who have succeeded in this course; Students will develop proficiency in statistical models used in life and non-life insurance. Also they will be prerared to the local and international actuarial exams. |
Review of probability and statistics. Frequency and severity distributions, mixture models. Parameter estimation and fitting of data. The effect of inflation, deductibles and reinsurance. The Normal approximation to the total claims distribution. Calculation of one period probability of ruin. |
Week | Subject | Related Preparation |
1) | Review of probability theory. Basic information about probability. | |
2) | Discrete and continuous random variables and their distributions. | |
3) | Statistical distributions useful in life and non life insurance. | |
4) | The Poisson, Exponential, Pareto, Lognormal , and negative binomal distributions as they appear in actuarial studies. | |
5) | Measures of location and dispersion. Expectation and moments. | |
6) | Joint distribution functions and their applications in insurance. | |
7) | Two dimentional and multi dimentional random variables. | |
8) | Distribution of multi dimensional random variables and their application in insurance. | |
9) | Exam questions rewiew and preparation to actuarial exams. | |
10) | Reinsurance and types of reinsurance. | |
11) | Central Limit Theorem and its applications in insurance. | |
12) | Normal approximation and its applications. | |
13) | Application examples. | |
14) | Hypothesis testing and applications in insurance. | |
15) | Point and interval estimation methods. | |
16) | Final exams. |
Course Notes / Textbooks: | Hossack, I.B., Pollard, J.H., Zehnerwith, B., Introductory statistics with applications in general insurance. S.A Klugman, H.H.Panjer, G.E. Willmot , ‘Loss Models:from data to decisions’, John Wiley 1998 SOA EXAM questions from SOA past exam library |
References: | Any basic book in Statistics and Probability. |
Semester Requirements | Number of Activities | Level of Contribution |
Quizzes | 2 | % 10 |
Homework Assignments | 4 | % 20 |
Midterms | 1 | % 30 |
Final | 1 | % 40 |
Total | % 100 | |
PERCENTAGE OF SEMESTER WORK | % 60 | |
PERCENTAGE OF FINAL WORK | % 40 | |
Total | % 100 |
Activities | Number of Activities | Duration (Hours) | Workload |
Course Hours | 14 | 3 | 42 |
Study Hours Out of Class | 14 | 4 | 56 |
Homework Assignments | 4 | 10 | 40 |
Quizzes | 2 | 10 | 20 |
Midterms | 1 | 20 | 20 |
Final | 1 | 22 | 22 |
Total Workload | 200 |
No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
Program Outcomes | Level of Contribution |