FINANCIAL TOOLS AND ACTUARIAL TECHNIQUES - 2

The course is core for degree in Economics and Finance and is divided into two parts. The first part of the course deals with the study of the pricing of derivatives: forwards, futures, swaps and financial options. At the end of this part the student will know how these products, their use, how they are evaluated and how to cover the risks associated with their trading. Are also briefly presented the valuation of bonds the term structure of interest rates, stocks evaluation, mutual funds performances.
The second part introduces the insurance and in particular deals with the study of life insurance and insurance on the life span.

1. Knowledge and understanding:
1.1. Understanding the logic of insurance contracts with particular regard to the life insurances and elementary branches
1.2. Know and be able to manage the actuarial demographic techniques for the construction of prizes and the mathematical reserve
1.3. Recognize the social role played by individual insurance policies
2. Ability to apply knowledge and understanding:
2.1. Apply the fundamentals of the actuarial calculation to the individual insurance contracts
2.2. Use software suitable for solving actuarial problems
3. Ability to judge:
3.1. Being able to correctly evaluate the results obtained from the main actuarial models
3.2. Understand the merits of the models based on the use of actuarial mathematics methods

Students are expected to know the basic elements of financial mathematics, as they are taught in a course of Financial Mathematics at the laurea/bachelor degree:
- Basics of interest rates.
- Separability.
- Annuities.
- Amortization of a debt.

In addition, students are expected to be familiar with elements of statistics:
- Exploratory data analysis (univariate distributions, location and variability summaries, graphical representations).
- Probability (interpreting probability, probability rules, univariate random variables, law of large numbers and central limit theorem).
- Basic techniques of statistical inference (point and interval estimation, hypothesis testing).

QUANTITATIVE FINANCE (second part)
10. Sensitivity analysis
11. Exotic Options and Options on particular assets

INSURANCE
1. Insurance: a basic introduction
2. Life insurance
3. Mortality tables: concepts and uses
4. Premia computing
5. The mathematical reserves
6. Insurance against damages
7. The main aspects of non-life insurance

INSURANCE
E. Pitacco, Elementi di Matematica delle Assicurazioni, Lint, Trieste, 2009, pagg. 407 : chapters 1, 2 (only par. 2.1-2.4), 4-6 (no par. 6.5 e 6.7), 7 (only par. 7.1 e 7.2)
P. Mazzoleni, Matematica attuariale assicurazioni sulla vita,
EDUCatt Università Cattolica 2014
Spelta, "Teoria matematica delle assicurazioni sulla vita", Pitagora Editrice Bologna, 2001

Slides by the teacher

Written exam with exercises and theoretical questions. The expected duration is one hour. The exam of June 17 is on line; see teacher notices.

Conventional methods with partial exams

Italian

[Inglese]
Accessibility, Disability and Inclusion
Accommodation and support services for students with disabilities and students with specific learning impairments
Ca' Foscari abides by Italian Law (Law 17/1999; Law 170/2010) regarding support services and accommodation available to students with disabilities. This includes students with mobility, visual, hearing and other disabilities (Law 17/1999), and specific learning impairments (Law 170/2010). If you have a disability or impairment that requires accommodations (i.e., alternate testing, readers, note takers or interpreters) please contact the Disability and Accessibility Offices in Student Services: disabilita@unive.it.

written