Kursussøgning, efter- og videreuddannelse – Københavns Universitet

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Kursussøgning, efter- og videreuddannelse

Topics in Life Insurance (Liv2)

Practical information
Study year 2016/2017
Block 3
Programme level Full Degree Master
Course responsible
  • Mogens Steffensen (6-70726a687176437064776b316e7831676e)
  • Department of Mathematical Sciences
Course number: NMAA06052U

Course content

Term structure theory, surplus and bonus, market reserves in life insurance, utility theory

Learning outcome

At the end of the course the student is expected to have:

Knowledge about term structure theory, surplus and bonus, market reserves in life insurance, and utility theory

Skills to derive and solve partielle differential equations characterizing market values in life insurance under different bonus strategies.   

Competences in; defining and relating concepts within bond markets theory as the forward rate, zero coupon bonds and the short rate; defining and analysing classic one-factor interest rate and forward rate models; defining and relating different versions of market values of cashflows within a general  bond market; discussing the influenze a stock market has on the market values; analysing elementary unit-link products and relating these to insurance and bonus; utility theory

Recommended prerequisites

LivStok and FinKont or similar.


About the timetable/schedule: The first three weeks you are going to participate in the course "Finkont 2" (for the first three weeks the courses are merged). You have to check the Finkont 2 course decription and webpage to see information regarding the first three weeks of the course.

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MSc Programme in Actuarial Mathematics


Study Board of Mathematics and Computer Science

Course type

Single subject courses (day)


1 block
7 weeks


---- SKEMA LINK ----

Teaching and learning methods

First three weeks: 4 hours of lectures plus 3 hours of exercises per week.
Last 4 weeks: 4 hours of lectures plus 2 hours of exercises.


No limit




Category Hours
Lectures 28
Theory exercises 17
Preparation 161
English 206


Type of assessment

Oral examination, 30 min
No time for preparation, but the exam question will be published weeks before the exam.


Without aids

Marking scale

7-point grading scale

Criteria for exam assessment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.
The student is expected to pick out and present relevant definitions, theorems and proofs regarding the topics of the particular exam question in hand (duration 20 min). After the presentation questions within curriculum will be asked. The student will be judged on her/his level of understading, intuition and details.

Censorship form

External censorship


Same as the ordinary exam. If the compulsory exercise has not been approved before the ordinary exam it must be resubmitted no later than two weeks before the beginning of the re-exam week. It must be approved before the exam.

Mere information om kurset
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