Module Handbook-Mathematics-Universitas Brawijaya
Module Handbook
Module Name: Insurance Mathematics I
Module Level: Bachelor
Abbreviation, if Applicable:
MAM62404 Sub-Heading, if
Applicable:
- Courses included in the module, if applicable
Insurance Mathematics I Semester/term: 4th/2nd year
Module Coordinator(s): Chair of the Lab. Industrial and Finance Mathematics Lecturer(s) Agus Widodo, Mila Kurniawaty
Language Indonesian
Classification within the curriculum
Elective Studies Teaching format / class
hours per week during semester:
100 minutes lectures per week.
Workload: Total workload is 3 ECTS, which consists of 1.67 hours lectures, 2 hours structured activities, 2 hours independent learning, 16 week per semester, and a total 90.67 hours per semester including mid exam and final exam.
Credit Points: 2
Requirements according to the examination regulations:
Students have taken Insurance Mathematics I course (MAM62404), have attendance at least 80%, and have the examination card when where the course is stated on.
Recommended prerequisties
Students have taken Introduction to Probability course (MAM61402) and have participated in the final exam on the module.
Learning
goals/competencies or
Module
objectives/intended learning outcomes
After completing this course the student should have
CLO1: Ability to explain and calculate probability of life, probability of death, life expectancy, force of mortality.
CLO2: Ability to make mortality tables.
CLO3: Ability to explain and calculate the present value of life annuities.
CLO4: Ability to explain and calculate net premiums and gross premiums for life insurance.
CLO5: Ability to calculate premium reserves.
Module Handbook-Mathematics-Universitas Brawijaya Content: 1. Future Life Time of Life aged x: probability of life, probability of
death, life expectancy, force of mortality, mortality table.
2. Life annuities for discrete time.
3. Life Insurance: Definition of discrete time life insurance, for single net premiums, net annual premiums, expense loading premiums.
4. Premium Reserves: retrospective reserves, prospective reserves, initial reserves, average reserves, Fackler method.
Study / exam achievements:
The final mark will be weighted as follows:
No. Assessment methods (component, activities). Weight
1. Class activity (ABS1) 5 %
2. Quiz (Q1) 20 %
3. Assignment (T1, T2) 15 %
4. Middle examination (UTS1) 30 % 5. Final examination (UAS2) 30 % Final grades is defined as follow:
A : 80 < Final Mark ≤ 100 B+ : 75 < Final Mark ≤ 80 B : 69 < Final Mark ≤ 75 C+ : 60 < Final Mark ≤ 69 C : 55 < Final Mark ≤ 60 D+ : 50 < Final Mark ≤ 55 D : 44 < Final Mark ≤ 50 E : 0 ≤ Final Mark ≤ 44
Forms of Media Slides and LCD projectors, laptop/ computer, whiteboards.
Learning Methods Lecture
Literature 1. Cunningham, R.J., Herzog, T.N., dan London, R.L. 2006. Model for Quantifying Risk, 2nd ed. ACTEX Publication, Inc., Winsted 2. Dickson, D.C.M., Hardy, M.R., dan Waters, H.R. 2013. Actuarial
Mathematics for Life Contingent Risks, 2nd ed., Cambridge University Press, United Kingdom
3. Hans U Gerber, Life Insurance Mathematics, 1997, Springer, 3rd edition, Swiss.
4. Newton L. Bower, Hans U. Gerber dkk, 1997, Actuarial Mathematics, Society of Actuaries
Sembiring, R.K., 1989, Asuransi I, PT. Karunika UT, Jakarta Notes:
