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Course Code: 
AFN 242
Course Type: 
Area Elective
P: 
3
Application: 
0
Credits: 
3
ECTS: 
6
Prerequisite Courses: 
Course Language: 
İngilizce
Course Objectives: 

The objective of the course is to develop students’ understanding of the principles and practice of insurance and its role in risk management, the Turkish insurance sector, and the premium calculations in life & nonlife insurance branches.

Course Content: 

The concept of risk; Risk management; Insurance branches; Premium calculations in life & nonlife insurance branches.

Course Methodology: 
1: Lecture, 2: Question-Answer, 3: Discussion, 4: Simulation, 5: Case Study
Course Evaluation Methods: 
A: Testing, B: Presentation, C: Homework, D: Project, E: Laboratory

Vertical Tabs

Course Learning Outcomes

Learning Outcomes

Program Learning Outcomes

Teaching Methods

Assessment Methods

1) To be able to identify risk and apply risk management techniques,

3,8

1,2,3

A

2) To be able to explain the fundamentals of insurance,

9,10,11

1,2,3

A

3) To be able to identify and categorize insurance branches, 

5,10,11

1,2,3

A

4) To be able to evaluate the Turkish Insurance Sector,

5,9,10,11

1,2,3

A,D

5) To be able to describe life annuities and their pricing strategies, 

3,8

1,2

A

6) To be able to explain life insurance and premium pricing,

3,8

1,2

A

7) To be able to explain premium pricing in nonlife insurance branches.

3,8

1,2

A

 

Course Flow

Week

Topics

Study Materials

1)     

Introduction to course 

Introduction

2)     

Insurance and risk  

Textbook 

3)     

Fundamental legal principles

Textbook, Online resources

4)     

Analysis of insurance contracts

Textbook

5)     

General concepts in insurance

Textbook

6)     

Annuities 

Textbook

7)     

Annuities calculation

Textbook, Online resources

8)     

Life annuities

Textbook, Online resources

9)     

Life annuities premiums calculation

Textbook, Lecture Notes

10

Midterm Exam

 

11

Life insurance

Textbook, Online resources, Lecture Notes

12

Life insurance premiums calculation

Textbook, 

Online resources

13

Health Insurance

Textbook, Online resources, Lecture Notes

14

Automobile Insurance

Textbook, Online resources, Lecture Notes

15

Final

 

 
 

Recommended Sources

Textbook

Main Text: Rejda, George E.(2004), Principles of Risk Management and Insurance, 10th Edition, Addison-Wesley educational Publishers, MA.

Parmenter, M. M.,(1999) Theory of Interest and Life Contingencies with Pension Applications, ACTEX Publication, Winsted.

Behncke, H.,(2000), Insurance mathematics: A European Model, University of Osnabrück.

Additional Resources

Course web site, financial calculator, online resources, articles, lecture notes.

 

Material Sharing

Documents

Homework assignments, Articles.

Assignments

Research Topic: Investigation of Turkish Insurance Sector and Financial Structure of Insurance Companies

Exams

Midterm Exam and Final Exam

Assessment

IN-TERM STUDIES

NUMBER

PERCENTAGE

Mid-terms

1

80

Quizzes

 

 

Assignment

1

20

Total

 

100

CONTRIBUTION OF FINAL EXAMINATION TO OVERALL GRADE

 

50

CONTRIBUTION OF IN-TERM STUDIES TO OVERALL GRADE

 

50

Total

 

100

 

 

COURSE CATEGORY

Expertise/Field Courses

 
 

Course’s Contribution to Program

No

Program Learning Outcomes

Contribution

1

2

3

4

5

1

To understand the core principles of finance and to be able to apply them both nationally and internationally.

X

     

 

2

To effectively use contemporary information technologies and up-to-date financial instruments.

     

X

 

3

To understand the ethics rules and the social responsibility mentality adopted by professional finance organizations and apply them in the decision-making process.

   

X

 

 

4

To have the necessary background to be able to work in multicultural and multilingual environments.

 

X

   

 

5

To be informed about markets and the factors affecting them, and to be able to analyze the developments in these markets.

   

X

 

 

6

To recognize management tools and models specific to multinational companies and to be able to apply them where necessary.

 

X

   

 

7

To understand the structure of the global economic system and to be able to analyze how new developments will affect this structure.

X

     

 

8

To be able to use critical thinking ability in decision making process.

 

X

   

 

9

 To be able to transfer the leadership, teamwork and communication skills acquired to the lifelong learning process.

 

X

   

 

10

To be able to predict the opportunities and problems that may arise under dynamic working conditions and manage these using analytical and creative approaches.

 

X

 

 

 

 

ECTS

Activities

Quantity

Duration
(Hour)

Total
Workload
(Hour)

Course Duration (Including the exam week: 15 x Total course hours)

15

3

45

Hours for off-the-classroom study (Pre-study, practice)

15

4

60

Mid-terms

1

10

10

Homework

1

10

10

Final examination

1

15

15

Total Work Load

 

 

140

Total Work Load / 25 (h)

 

 

5.6

ECTS Credit of the Course

 

 

6