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.
The concept of risk; Risk management; Insurance branches; Premium calculations in life & nonlife insurance branches.
Vertical Tabs
Course Learning Outcomes
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Learning Outcomes |
Program Learning Outcomes |
Teaching Methods |
Assessment Methods |
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1) To be able to identify risk and apply risk management techniques, |
3,8 |
1,2,3 |
A |
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2) To be able to explain the fundamentals of insurance, |
9,10,11 |
1,2,3 |
A |
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3) To be able to identify and categorize insurance branches, |
5,10,11 |
1,2,3 |
A |
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4) To be able to evaluate the Turkish Insurance Sector, |
5,9,10,11 |
1,2,3 |
A,D |
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5) To be able to describe life annuities and their pricing strategies, |
3,8 |
1,2 |
A |
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6) To be able to explain life insurance and premium pricing, |
3,8 |
1,2 |
A |
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7) To be able to explain premium pricing in nonlife insurance branches. |
3,8 |
1,2 |
A |
Course Flow
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Week |
Topics |
Study Materials |
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1) |
Introduction to course |
Introduction |
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2) |
Insurance and risk |
Textbook |
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3) |
Fundamental legal principles |
Textbook, Online resources |
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4) |
Analysis of insurance contracts |
Textbook |
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5) |
General concepts in insurance |
Textbook |
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6) |
Annuities |
Textbook |
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7) |
Annuities calculation |
Textbook, Online resources |
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8) |
Life annuities |
Textbook, Online resources |
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9) |
Life annuities premiums calculation |
Textbook, Lecture Notes |
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10 |
Midterm Exam |
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|
11 |
Life insurance |
Textbook, Online resources, Lecture Notes |
|
12 |
Life insurance premiums calculation |
Textbook, Online resources |
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13 |
Health Insurance |
Textbook, Online resources, Lecture Notes |
|
14 |
Automobile Insurance |
Textbook, Online resources, Lecture Notes |
|
15 |
Final |
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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. |
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Additional Resources |
Course web site, financial calculator, online resources, articles, lecture notes. |
Material Sharing
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Documents |
Homework assignments, Articles. |
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Assignments |
Research Topic: Investigation of Turkish Insurance Sector and Financial Structure of Insurance Companies |
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Exams |
Midterm Exam and Final Exam |
Assessment
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IN-TERM STUDIES |
NUMBER |
PERCENTAGE |
|
Mid-terms |
1 |
80 |
|
Quizzes |
|
|
|
Assignment |
1 |
20 |
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Total |
|
100 |
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CONTRIBUTION OF FINAL EXAMINATION TO OVERALL GRADE |
|
50 |
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CONTRIBUTION OF IN-TERM STUDIES TO OVERALL GRADE |
|
50 |
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Total |
|
100 |
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COURSE CATEGORY |
Expertise/Field Courses |
Course’s Contribution to Program
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COURSE'S CONTRIBUTION TO PROGRAM |
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Program Learning Outcomes |
Contribution |
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1 |
2 |
3 |
4 |
5 |
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1. To understand the core principles of finance and to be able to apply them both nationally and internationally. |
X |
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2. To formulate solutions to finance problems by effectively using contemporary information technologies and up-to-date financial instruments. |
X |
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3. To judge the best possible outcome to problems that require ethical and social responsibility-based thinking by identifying stakeholders and weighing alternative solutions. |
X |
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4. To develop the necessary background to be able to work in multicultural and multilingual environments. |
X |
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5. To analyze the developments in financial markets by interpreting and distinguishing among the factors affecting them. |
X |
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6. To recognize management tools and models specific to multinational companies and to be able to apply them where necessary. |
X |
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7. To understand the structure of the global economic system and to be able to analyze how new developments will affect this structure. |
X |
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8. To be able to use critical thinking ability in decision making process. |
X |
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9. To develop and demonstrate the leadership, teamwork and communication skills that may be transferred to the lifelong learning process. |
X |
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10. To interpret environmental and sustainability issues by implementing quality management processes. |
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X |
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ECTS
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Activities |
Quantity |
Duration |
Total |
|
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 |
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Mid-terms |
1 |
10 |
10 |
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Homework |
1 |
10 |
10 |
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Final examination |
1 |
15 |
15 |
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Total Work Load |
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140 |
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Total Work Load / 25 (h) |
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5.6 |
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ECTS Credit of the Course |
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6 |