Life Insurance 2, exercises - NMFM416
Title: Životní pojištění 2, cvičení
Guaranteed by: Department of Probability and Mathematical Statistics (32-KPMS)
Faculty: Faculty of Mathematics and Physics
Actual: from 2022
Semester: summer
E-Credits: 2
Hours per week, examination: summer s.:0/2, C [HT]
Capacity: unlimited
Min. number of students: unlimited
4EU+: no
Virtual mobility / capacity: no
State of the course: not taught
Language: English, Czech
Teaching methods: full-time
Teaching methods: full-time
Guarantor: RNDr. Petr Vejmělka
Class: M Mgr. FPM
M Mgr. FPM > Povinné
Classification: Mathematics > Financial and Insurance Math.
Co-requisite : NMFM406
Incompatibility : NMFP432
Interchangeability : NMFP432
Is incompatible with: NMFP432
In complex interchangeability with: NMFP432
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Annotation -
Exercises to the lecture NMFM406.
Last update: T_KPMS (13.05.2013)
Aim of the course -

Students practice life insurance mathematics on the level necessary to obtain the certificate of responsible actuary.

Last update: Branda Martin, doc. RNDr., Ph.D. (28.10.2019)
Course completion requirements -

Course credit requirements:

1) gaining at least 70 % of the total points from 3 homework assignments with solutions sent by deadlines during the semester,

2) gaining at least 70 % of the total points from the final test written at the end of the semester.

One regular and one retake term will be available to pass the final test.

The nature of the requirements precludes the possibility of additional attempts to obtain the course credit.

Remark. Obtaining the course credit is not a condition of participation in the exam.

Last update: Vejmělka Petr, RNDr. (30.01.2022)
Literature -

Gerber H.U.: Life Insurance Mathematics. Springer-Verlag 1986.

Additional literature in Czech:

Cipra, T.: Pojistná matematika: teorie a praxe. Ekopress, Praha 2006.

Cipra, T.: Penze: kvantitativní přístup. Ekopress, Praha 2012.

Cipra, T.: Finanční a pojistné vzorce. Grada, Praha 2006.

Cipra, T.: Financial and Insurance Formulas. Springer, New York 2010.

Cipra, T.: Riziko ve financích a pojišťovnictví: Basel III a Solvency II. Ekopress, Praha 2015.

Cipra, T.: Zajištění a přenos rizik v pojišťovnictví. Grada, Praha 2004.

Cipra, T.: Penzijní pojištění a jeho výpočetní aspekty. HZ, Praha 1996.

Last update: Branda Martin, doc. RNDr., Ph.D. (28.10.2019)
Teaching methods -


Last update: T_KPMS (13.05.2013)
Syllabus -

1. Net premium reserve. Risk and savings component.

2. Loss decomposition into several years.

3. Technical gain.

4. Models with continuous time, Thiele differential equation.

5. Model with multiple decrements.

6. Multiple life insurance (last survivor, joint lifes).

7. Expense loaded premium and reserve.

Last update: Branda Martin, doc. RNDr., Ph.D. (28.10.2019)
Entry requirements -

Basis of life insurance mathematics:

  • demography (remaining lifetime and its distribution, life tables)
  • capital life insurance (whole life, term, pure endowment, endowments)
  • life annuities (immediate, due, deferred)
  • net single premium, net annual premium
  • actuarial symbols for the above mentioned terms
Last update: Branda Martin, doc. RNDr., Ph.D. (13.06.2019)