TYPE OF COURSE UNIT	Compulsory Course
LEVEL OF COURSE UNIT	Bachelor's Degree
YEAR OF STUDY	4
SEMESTER	Seventh Term (Fall)
NUMBER OF ECTS CREDITS ALLOCATED	5
NAME OF LECTURER(S)	Professor Serpil Cula
LEARNING OUTCOMES OF THE COURSE UNIT	At the end of this course, the students; 1) Explain what is the Life Table and construction of life table. 2) Understand certain and contingent annuities. 3) Learn net premiums for life annuity, and life insurance. 4) Explain reserve, net level reserve. 5) Calculate gross premiums.
MODE OF DELIVERY	Face to face
PRE-REQUISITES OF THE COURSE	No
RECOMMENDED OPTIONAL PROGRAMME COMPONENT	None
COURSE DEFINITION	This course is designed to give mathematical theory and applications of life and health insurance and pension plans with the use of stochastic (probabilistic) and deterministic approaches, life distributions and life tables, life insurance, net premiums, net premium reserves, multiple life functions, multiple decrement models.
COURSE CONTENTS	WEEK TOPICS 1st Week Annuities: compound interest, annuity certain, net single premiums, pure endowment 2nd Week Annuities: compound interest, annuity certain, net single premiums, pure endowment 3rd Week Probability and statistics 4th Week The life table: construction of mortality tables, notation, expectation of life 5th Week Life annuities (whole life, temprorary and deffered, forborne, increasing and decreasing, payable more than once a year) 6th Week Life annuities (whole life, temprorary and deffered, forborne, increasing and decreasing, payable more than once a year) 7th Week Applications 8th Week Midterm 9th Week Premium calculations in life insurance 10th Week Premium calculations in life insurance 11th Week Net premiums 12th Week Return of premium policy 13th Week Reserve, net level reserve, retrorespective reserve, prospective reserve 14th Week Applications
RECOMENDED OR REQUIRED READING	1. Workman, L.C. Mathematical Foundations of Life Insurance, LOMA, U.S.A.,1992. 2. Menge, W.O.,Fisher C.H., The Mathematics of Life Insurance, Ullrich's Bookstore, 1991.
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS	Lecture,Questions/Answers,Problem Solving,Discussion
ASSESSMENT METHODS AND CRITERIA	Quantity Percentage(%) Mid-term 1 25 Quiz 1 20 Project 1 10 Total(%) 55 Contribution of In-term Studies to Overall Grade(%) 55 Contribution of Final Examination to Overall Grade(%) 45 Total(%) 100
ECTS WORKLOAD	Activities Number Hours Workload Midterm exam 1 1 1 Preparation for Quiz 3 6 18 Individual or group work 14 1,5 21 Preparation for Final exam 1 35 35 Course hours 14 3 42 Preparation for Midterm exam 1 25 25 Laboratory (including preparation) 1 3 3 Final exam 1 1 1 Homework 1 3 3 Total Workload 149 Total Workload / 30 4,96 ECTS Credits of the Course 5
LANGUAGE OF INSTRUCTION	Turkish
WORK PLACEMENT(S)	No