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Course info
KEM / AFIPV
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Course description
Department/Unit / Abbreviation
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KEM
/
AFIPV
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Academic Year
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2023/2024
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Academic Year
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2023/2024
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Title
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Computations in Finance and Insurance
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Form of course completion
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Exam
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Form of course completion
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Exam
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Long Title
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Computations in Finance and Insurance in English
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Accredited / Credits
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Yes,
4
Cred.
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Type of completion
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Written
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Type of completion
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Written
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Time requirements
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Lecture
2
[Hours/Week]
Tutorial
1
[Hours/Week]
|
Course credit prior to examination
|
Yes
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Course credit prior to examination
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Yes
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Automatic acceptance of credit before examination
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Yes in the case of a previous evaluation 4 nebo nic.
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Included in study average
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YES
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Language of instruction
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English
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Occ/max
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|
|
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Automatic acceptance of credit before examination
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Yes in the case of a previous evaluation 4 nebo nic.
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Summer semester
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0 / -
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0 / -
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1 / -
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Included in study average
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YES
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Winter semester
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0 / -
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0 / -
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0 / -
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Repeated registration
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NO
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Repeated registration
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NO
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Timetable
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Yes
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Semester taught
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Summer semester
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Semester taught
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Summer semester
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Minimum (B + C) students
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10
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Optional course |
Yes
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Optional course
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Yes
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Language of instruction
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English
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Internship duration
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0
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No. of hours of on-premise lessons |
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Evaluation scale |
1|2|3|4 |
Periodicity |
každý rok
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Evaluation scale for credit before examination |
S|N |
Periodicita upřesnění |
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Fundamental theoretical course |
No
|
Fundamental course |
No
|
Fundamental theoretical course |
No
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Evaluation scale |
1|2|3|4 |
Evaluation scale for credit before examination |
S|N |
Substituted course
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KSO/AFIPV
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Preclusive courses
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KEM/FIPV1
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Prerequisite courses
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N/A
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Informally recommended courses
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N/A
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Courses depending on this Course
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N/A
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Histogram of students' grades over the years:
Graphic PNG
,
XLS
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Course objectives:
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The aim of this course is to: introduce students to the basic concepts and used quantity in financial calculations, explain and present to students practical application of different interest types for calculations. Demonstrate to students the principle of time value of money and practical usage. Introduce students to different type of annuities and present the practical usage of calculations on examples. Demonstrate to students the principles of yield of investments calculations with the help of effective interest rate. Explain to students the process of project evaluation and demonstrate the usage of different evaluative criteria and their calculations. Present to students the usage of financial calculations in insurance systems for calculation different type of insurance rate.
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Requirements on student
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Content, organization and requirements for credits of practice: Requirements are published in LMS Moodle (http://moodle.fek.zcu.cz). 1. Registration to the LMS Moodle and enroll to course FIPV1. 2. Fulfillment of all quizes to deadline. 3. Presentation of example according to scheduling. 4 Seminary assignment elaboration. 5. Participation on final test. 6. Overall assessment of all study activities minimally 90 % incl. Students can take part in only one final test and in one corrective test.
Content, organization and requirements for exam: Students can pass examination paper after credits grand. Written exam consists of calculations of exercises from lectures, practice and LMS Moodle. Exam consists of four tasks. Some of them have more parts. Exam classification: Percentage Classification: 90-100 = A, 70-89 = B, 50-69 = C, 0-49 = Fall.
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Content
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The introduce to course.
Simple interest, simple discount, time value of money.
Compound interest, compound discount, other type of interest.
Annuities. Ordinary annuity.
General annuities and other annuities.
Amortization.
Projects evaluation.
Products of short-term markets.
Insurance calculations.
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Activities
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Fields of study
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e-learning (Moodle)
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Guarantors and lecturers
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Literature
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-
Basic:
Radová, Jarmila; Dvořák, Petr,; Málek, Jiří. Finanční matematika pro každého. 7., aktualiz. vyd. Praha : Grada, 2009. ISBN 978-80-247-3291-6.
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Basic:
CIPRA, T. Praktický průvodce finanční a pojistnou matematikou. Praha : Ekopress, 2005. ISBN 80-86119-91-2.
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Basic:
ZIMA, P., BROWN, R. L. Shaum's outline of theory and problems of mathematics of finance. 2nd ed. New York : McGraw-Hill, 1996. ISBN 0-07-008203-0.
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Extending:
GROB, H. L., EVERDING, D. Finanzmathematik mit dem PC. [1. Aufl.]. Wiesbaden : Gabler, 1992. ISBN 3-409-12900-6.
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On-line library catalogues
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Time requirements
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All forms of study
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Activities
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Time requirements for activity [h]
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E-learning [dáno e-learningovým kurzem]
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26
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Presentation preparation (report) (1-10)
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1
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Preparation for an examination (30-60)
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30
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Preparation for comprehensive test (10-40)
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10
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Contact hours
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39
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Total
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106
|
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Prerequisites
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Knowledge - students are expected to possess the following knowledge before the course commences to finish it successfully: |
Know commonly used basic mathematical operations, mathematical power, exponential and logarithmic functions.
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Understand the solution of power, exponential and logarithmic equations. The advantage is the knowledge of basic iterative methods for determining the root of a nonlinear equation together with the ability of practical application of these basic iterative methods (soil interval, linear interpolation).
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Skills - students are expected to possess the following skills before the course commences to finish it successfully: |
Use e-learning systém |
Apply high school mathematics |
Competences - students are expected to possess the following competences before the course commences to finish it successfully: |
N/A |
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Learning outcomes
|
Knowledge - knowledge resulting from the course: |
Use orientation in the basic calculations calculations and quantitative methods in finance and insurance. |
Apply methods and calculations in solving of practical problems in finance and insurance. |
Evaluate, compare and select the suitable products of shot-term money market and in the insurance area. |
Skills - skills resulting from the course: |
Apply basic technics of financial computing. |
Calculate interest, pensions, money market instruments. |
Construct cash-flow of project and he can evaluate it. |
Competences - competences resulting from the course: |
N/A |
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Assessment methods
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Knowledge - knowledge achieved by taking this course are verified by the following means: |
Written exam |
Portfolio |
Seminar work |
Individual presentation at a seminar |
Skills - skills achieved by taking this course are verified by the following means: |
Written exam |
Test |
N/A |
Competences - competence achieved by taking this course are verified by the following means: |
Written exam |
Test |
N/A |
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Teaching methods
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Knowledge - the following training methods are used to achieve the required knowledge: |
E-learning |
Individual study |
Students' portfolio |
Interactive lecture |
Discussion |
Skills - the following training methods are used to achieve the required skills: |
Interactive lecture |
E-learning |
Self-study of literature |
Competences - the following training methods are used to achieve the required competences: |
E-learning |
Practicum |
Self-study of literature |
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