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Lecturer(s)
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Ježek Jindřich, Ing. Ph.D.
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Prouza Ludvík, RNDr. CSc.
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Course content
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Methods of time interval duration calculation. Interest, interest rate, interest numbers, interest dividers. Timetables for repayments. Starting and end values of pensions. Saving and amortization coefficients. Interest taxes, discount. Experience table and tables of commutating numbers, reversionary insurance, pension insurance, death insurance, composite death and reversionary insurance. Current premium. Gross premium. Share. Forfaiting. Factoring. Leasing. Summary and conclusion.
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing), Work with text (with textbook, with book), Methods of individual activities, Demonstration
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Learning outcomes
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The aim is to inform students about basic procedures used in investment and banking sphere based on exact mathematical relations. Detailed information about mathematical procedures including derivation of terms for financial calculations. Application of derived procedures on concrete examples from financial and banking practice.
After passing the subject the student can calculate interest and discount with after-term and before-term interest running, he is able to control and independently make up schedules for loan repayment, evaluate leasing operations and consumer credits. He is able to analyze financial flows. He understands experience table, is able to create tables of commutating numbers and use them for calculations of life insurance premiums.
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Prerequisites
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It is assumed skilled mastering of secondary school calculations, knowledge of arithmetical and geometrical successions and elementary probability.
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Assessment methods and criteria
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Written examination
In the course of the term and at the final examination the student must prove understanding to solved problems and ability to do independently financial and insurance calculation to the extent of taught matter. Students will be informed about detailed requirements in the first week of the term.
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Recommended literature
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PROUZA, L.:. Základy finanční a pojistné matematiky. VŠEM, Praha, 2007.
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Radová, Jarmila. Finanční matematika pro každého. Praha: Grada, 2005. ISBN 80-247-1230-X.
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