Page 118 - handbook 20152016

Faculty of Science Handbook, Session 2015/2016

Credibility theory: Bayesian credibility methods, credibility Malaysia: hingga 10hb Mei 2013. International Law
premium formula, empirical Bayes credibility theory. Book Services.

Assessment:
Continuous Assessment: 40% SIQ3009 FOUNDATION OF ISLAMIC FINANCE
Final Examination: 60%
Introduction to Islamic finance and its practices; Riba,
Medium of Instruction: gharar and maisir; Musharkah, mudharabah and
English murabahah; Ijarah, salam and istisna’; Çomparison of
Islamic and conventional financial systems; Islamic
Humanity Skill: financial institutions and products, Islamic banking and
CS2, CT3 takaful, Islamic investment instruments; Capital market in
an Islamic framework, leasing, securitization and sukuk;
References: Modeling Islamic financial products using mathematical
1. Klugman, S. A., Panjer, H. H., & Willmot, G. E. (2012). software; Regulatory framework for Islamic financial
Loss models: from data to decisions (Vol. 715). John institutions in Malaysia.
Wiley & Sons.
2. Cunningham, R. J. (2011). Models for quantifying risk. Assessment:
Actex Publications. Continuous Assessment: 50%
3. Dickson, D. (2010). Insurance Risk and Ruin. Final Examination: 50%
Cambridge University Press.
4. Tse, Y. K. (2009). Nonlife actuarial models: theory, Medium of Instruction:
methods and evaluation. Cambridge University Press. English

Humanity Skill:
SIQ3007 INDUSTRIAL TRAINING CS3, CT3

Subject to the training offered by the relevant company. References:
1. Taqi Usmani, M. (1998). An introduction to Islamic
Assessment: finance. Arham Shamsi.
Continuous Assessment: 100% 2. El-Gamal, M. A. (2006). Islamic finance: Law,
economics, and practice. Cambridge University Press.
Medium of Instruction: 3. Iqbal, Z., & Mirakhor, A. (2011). An introduction to
English Islamic finance: theory and practice. Vol. 687. John
Wiley & Sons.
Humanity Skill: 4. Mirakhor, A., & Krichene, N. (2014). Introductory
CS4, CT3, TS3, LL2, KK1, EM2, LS1 Mathematics and Statistics for Islamic Finance. John
Wiley & Sons.

SIQ3008 PENSION MATHEMATICS
SIT1001 PROBABILITY AND STATISTICS I
Economic and social security; Pensions and their variants;
Pension system in Malaysia; Employee Provident Fund Properties of probability. Counting techniques. Conditional
(EPF); Social Security Organization (SOCSO); Government probability. Independent events. Bayes Theorem.
pension scheme; Annuity scheme; Modeling pension plans
using mathematical software; International pension Discrete random variables. Mathematical Expectation.
legislation and regulation; Malaysia regulatory framework Discrete distributions: uniform, hypergeometric, Bernoulli,
related to retirement. binomial, geometric, negative binomial and Poisson.
Moment generating function.
Assessment:
Continuous Assessment: 50% Continuous random variables and its mathematical
Final Examination: 50% expectation. Continuous distributions: uniform, exponential,
gamma, chi-squared and Normal distributions.
Medium of Instruction:
English Distribution of function of one random variable.

Humanity Skill: Sampling distribution theory: Independent random
CS3, CT3 variables. Distributions of sum of independent random
variables. Random functions related to the normal
References: distribution. Central limit theorem. Approximation for
1. Anderson, A. W. (2006). Pension mathematics for discrete distributions. Limiting moment generating
actuaries. Actex Publications. functions.
2. Asher, M. G. (1994). Social Security in Malaysia and
Singapore: Practices, Issues, and Reform Directions. Assessment:
Institute of Strategic and International Studies, Continuous Assessment: 40%
Malaysia. Final Examination: 60%
3. Bakar, S. H. A., & Yunus, F. (2000). Social security Medium of Instruction:
policies in Malaysia: the Employees’ Provident Fund English
(EPF) and Social Security Organisation (SOCSO).
Issues and Challenges of Social Policy East & West, Humanity Skill:
187-219. CS2, CT2, LL2, EM2
4. Malaysia, & International Law Book Services. Legal
Research Board. (2013). Undang-undang pencen di

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