Course: Modelling of financial flows

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Course title Modelling of financial flows
Course code UMKM/PMFT
Organizational form of instruction Lecture + Lesson
Level of course Master
Year of study not specified
Semester Winter
Number of ECTS credits 5
Language of instruction Czech
Status of course Compulsory
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Lecturer(s)
  • Brebera David, Mgr.
  • Kubanová Jana, doc. PaedDr. CSc.
  • Gogola Ján, RNDr. Ph.D.
  • Janeček Martin, RNDr. Ph.D.
  • Boháčová Hana, Mgr. Ph.D.
Course content
Mortality tables. Actuarial mathematic calculations in life insurance. Premium, insurance reserves in life insurance. Tariff groups and basic indicators in general insurance. Damage tables and exclusion plan of the damage status. Premium, insurance reserves and its time resolution. Participation, bonuses and extra premiums Principles of placing insurance technical reserves. Individual and collective hazards. Dynamic models of reserves, theory of ruining. Pension scheme, health insurance. Reinsurance, classification of reinsurance, proportional and unproportional reinsurance.

Learning activities and teaching methods
Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming), Work with text (with textbook, with book)
Learning outcomes
The aim of the course is to provide the necessary theoretical knowledge and computational skills in a specialized SOPHAS software that is specifically created for fast processing of cash flow models, especially in the insurance industry.
Students will be able to use acquired knowledge not only in the system of insurance but also in other related disciplines, they will formulate alternate approaches, select appropriate methods and suitably present the solution and defend it with necessary arguments.
Prerequisites
unspecified

Assessment methods and criteria
Oral examination, Written examination, Student performance assessment

The examination is written, eventually oral.
Recommended literature
  • Stochastic Modeling: Theory and reality from an actuarial perspective.. Ottawa: Association Actuarielle Internationale, 2010.
  • CIPRA, T.:. Finanční a pojistné vzorce. Praha: Grada Publishing, 2006.
  • Cipra, Tomáš. Kapitálová přiměřenost ve financích a solventnost v pojišťovnictví. Praha: Ekopress, 2002. ISBN 80-86119-54-8.
  • Cipra, Tomáš. Pojistná matematika : teorie a praxe. Praha: Ekopress, 2006. ISBN 80-86929-11-6.
  • DICKSON, D. C. M., HARDY, M. R., WATERS, H. R. Actuarial Mathematics for Life Contingent Risks. Cambridge: Cambridge University Press, 2009.
  • LIN, X. Introductory stochastic analysis for finance and insurance.. Hoboken: Wiley-Interscience, 2006.
  • Wüthrich, Mario V. Stochastic claims reserving methods in insurance. Chichester: John Wiley & Sons, 2008. ISBN 978-0-470-72346-3.


Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Economics and Administration Insurance Engineering (2014) Economy 2 Winter
Faculty of Economics and Administration Insurance Engineering (2014) Economy 2 Winter