STK4505 – Introduction to Insurance Mathematics
Course description
Schedule, syllabus and examination date
Course content
The overall aim is to give an introduction to liabilities in both general and life insurance and their connection to the financial side. Some of the most central models and parameters are presented with Markov models and stochastic simulation as a tool for computations. The level is elementary. Much emphasis is placed on understanding the entire actuarial field, and especially on the uncertainty inherent in such analyses. The course is meant to give an understanding for the numbers actuaries are dealing with in practice; all examples have an aura of real life.
Learning outcome
After completing the course you:
- know how general and life insurance are modeled and evaluated by means of multistate models
- understand why general and life insurance are so different
- have been introduced to long term financial risk, which is important in insurance, and to stock options
- have learned how to implement risk computations in computers
- have been introduced to methods for assessing uncertainty in risk analyses using statistical methods
Admission to the course
Students admitted at UiO must?apply for courses?in Studentweb. Students enrolled in other Master's Degree Programmes can, on application, be admitted to the course if this is cleared by their own study programme.
Nordic citizens and applicants residing in the Nordic countries may?apply to take this course as a single course student.
If you are not already enrolled as a student at UiO, please see our information about?admission requirements and procedures for international applicants.
Recommended previous knowledge
- MAT1100 – Calculus
- MAT1110 – Calculus and Linear Algebra
- MAT1120 – Linear Algebra
- MAT-INF1100 – Modelling and Computations (discontinued)
- IN1900 – Introduction to Programming with Scientific Applications
- STK1100 – Probability and Statistical Modelling
- STK1110 – Statistical Methods and Data Analysis
- STK2130 – Modelling by Stochastic Processes
Overlapping courses
- 10 credits overlap with STK2520 – Problems and methods in Actuarial science (continued).
- 10 credits overlap with STK3505 – Introduction to Insurance Mathematics.
- 3 credits overlap with STK2500 – Life Insurance (discontinued).
- 3 credits overlap with STK2510 – Non-Life Insurance Mathematics (discontinued).
Teaching
4 hours of lectures/exercises per week throughout the semester.
Examination
Final written exam which counts 100 % towards the final grade.?
This course has 1 mandatory assignment that must be approved before you can sit the final exam. Mandatory assignments must be written with a typesetting software for writing mathematics (e.g. LaTeX).
It will also be counted as one of the three attempts to sit the exam for this course, if you sit the exam for one of the following courses: STK3505 – Introduction to Insurance Mathematics
Examination support material
Approved calculators are allowed. Information about approved calculators in Norwegian.
Language of examination
Courses taught in English will only offer the exam paper in English. You may write your examination paper in Norwegian, Swedish, Danish or English.
Grading scale
Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.
Resit an examination
This course offers both postponed and resit of examination. Read more:
More about examinations at UiO
- Use of sources and citations
- Special exam arrangements due to individual needs
- Withdrawal from an exam
- Illness at exams / postponed exams
- Explanation of grades and appeals
- Resitting an exam
- Cheating/attempted cheating
You will find further guides and resources at the web page on examinations at UiO.