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Mathematics of Life Insurance 1 - NMFP407

Title:	Matematika životního pojištění 1
Guaranteed by:	Department of Probability and Mathematical Statistics (32-KPMS)
Faculty:	Faculty of Mathematics and Physics
Actual:	from 2023
Semester:	winter
E-Credits:	5
Hours per week, examination:	winter s.:2/2, C+Ex [HT]
Capacity:	unlimited
Min. number of students:	unlimited
4EU+:	no
Virtual mobility / capacity:	no
State of the course:	taught
Language:	English, Czech
Teaching methods:	full-time
Teaching methods:	full-time

Guarantor:	prof. RNDr. Tomáš Cipra, DrSc. doc. RNDr. Martin Branda, Ph.D.
Class:	M Mgr. FPM M Mgr. FPM > Povinné
Classification:	Mathematics > Mathematics, Algebra, Differential Equations, Potential Theory, Didactics of Mathematics, Discrete Mathematics, Math. Econ. and Econometrics, External Subjects, Financial and Insurance Math., Functional Analysis, Geometry, General Subjects, , Real and Complex Analysis, Mathematics General, Mathematical Modeling in Physics, Numerical Analysis, Optimization, Probability and Statistics, Topology and Category
Incompatibility :	NMFM405
Interchangeability :	NMFM405
Is incompatible with:	NMFM405
Is pre-requisite for:	NMFP432, NMFP532, NMFP501
Is interchangeable with:	NMFM405

Opinion survey results Examination dates WS schedule Noticeboard

Annotation -

Last update: doc. RNDr. Martin Branda, Ph.D. (05.12.2020)

Model of random future lifetime. Capital life insurance. Life annuities. Net single premium and net premium of basic products of life insurance. Net premium reserve.

Course completion requirements -

Last update: RNDr. Petr Vejmělka (12.10.2023)

Course credit requirements:

1) gaining at least 70 % of the total points from 2 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.

Exam:

1. Possibility of written exam test: 10 questions covering the course; only one term for this test in the end of semester; a correction is possible by means of an oral exam.

2. Otherwise the oral exam with requirements corresponding to the syllabus of the course.

3. Credit from the exercise is not a condition for passing exam.

Literature -

Last update: prof. RNDr. Tomáš Cipra, DrSc. (04.12.2020)

Gerber H.U.: Life Insurance Mathematics. Springer, Berlin 1997.

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

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

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

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

Cipra, T.: Practical Guide to Financial and Insurance Mathematics. Ekopress, Praha 2020.

Teaching methods -

Last update: RNDr. Jitka Zichová, Dr. (13.05.2022)

Lecture + exercises.

Syllabus -

Last update: prof. RNDr. Tomáš Cipra, DrSc. (04.12.2020)

1. Demographic model of life insurance. Model of random future lifetime. Life Tables and commutation functions.

2. Capital life insurance: basic products, variable sum insured, insurance payable at moment of death.

3. Life annuities: annual and payable m-times a year .

4. Net premium: single and annual.

5. Net premium reserve