Page 57 - handbook 20162017

Faculty of Science Handbook, Session 2016/2017

SIQ3007 INDUSTRIAL TRAINING Humanity Skill:
CS3, CT3
Subject to the training offered by the relevant company.
References:
Assessment: 1. Taqi Usmani, M. (1998). An introduction to Islamic
Continuous Assessment: 100% finance. Arham Shamsi.
2. El-Gamal, M. A. (2006). Islamic finance: Law,
Medium of Instruction: economics, and practice. Cambridge University Press.
English 3. Iqbal, Z., & Mirakhor, A. (2011). An introduction to
Islamic finance: theory and practice. Vol. 687. John
Humanity Skill: Wiley & Sons.
CS4, CT3, TS3, LL2, KK1, EM2, LS1 4. Mirakhor, A., & Krichene, N. (2014). Introductory
Mathematics and Statistics for Islamic Finance. John
Wiley & Sons.
SIQ3008 PENSION MATHEMATICS
Economic and social security; Pensions and their variants; SIT1001 PROBABILITY AND STATISTICS I
Pension system in Malaysia; Employee Provident Fund
(EPF); Social Security Organization (SOCSO); Government Properties of probability. Counting techniques. Conditional
pension scheme; Annuity scheme; Modeling pension plans probability. Independent events. Bayes Theorem.
using mathematical software; International pension
legislation and regulation; Malaysia regulatory framework Discrete random variables. Mathematical Expectation.
related to retirement. Discrete distributions: uniform, hypergeometric, Bernoulli,
binomial, geometric, negative binomial and Poisson.
Assessment: Moment generating function.
Continuous Assessment: 50%
Final Examination: 50% Continuous random variables and its mathematical
expectation. Continuous distributions: uniform, exponential,
Medium of Instruction: gamma, chi-squared and Normal distributions.
English
Distribution of function of one random variable.
Humanity Skill:
CS3, CT3 Sampling distribution theory: Independent random
variables. Distributions of sum of independent random
References: variables. Random functions related to the normal
1. Anderson, A. W. (2006). Pension mathematics for distribution. Central limit theorem. Approximation for
actuaries. Actex Publications. discrete distributions. Limiting moment generating
2. Asher, M. G. (1994). Social Security in Malaysia and functions.
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
policies in Malaysia: the Employees’ Provident Fund Medium of Instruction:
(EPF) and Social Security Organisation (SOCSO). English
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 References:
Malaysia: hingga 10hb Mei 2013. International Law 1. R.V.Hogg & E.A. Tanis,Probability & Statistics
th
Book Services. Inference, 8 ed., Pearson, 2010.
2. R.V.Hogg, J. McKean & A.T. Craig, Introduction to
Mathematical Statistics, 7 ed. Pearson, 2012
th
SIQ3009 FOUNDATION OF ISLAMIC FINANCE 3. H.J. Larson, Introduction to Probability Theory &
rd
Statistical Inference, 3 ed., Wiley, 1982.
Introduction to Islamic finance and its practices; Riba,
gharar and maisir; Musharkah, mudharabah and
murabahah; Ijarah, salam and istisna’; Çomparison of SIT2001 PROBABILITY AND STATISTICS II
Islamic and conventional financial systems; Islamic
financial institutions and products, Islamic banking and Distributions of two and more dimensional random
takaful, Islamic investment instruments; Capital market in variables. Correlation coefficient. Conditional distributions.
an Islamic framework, leasing, securitization and sukuk; Bivariate normal distribution. Transformation of two random
Modeling Islamic financial products using mathematical variables. Distributions of order statistics.
software; Regulatory framework for Islamic financial
institutions in Malaysia. Biased and unbiased estimators. Method of moment.
Method of maximum likelihood. Confidence interval for:
Assessment: mean, proportion and variance of single population;
Continuous Assessment: 50% difference between two means, difference between two
Final Examination: 50% proportions and ratio of variances.
Medium of Instruction: Hypothesis testing for: mean, proportion and variance of
English single population; difference between two means,
difference between two proportions and ratio of variances.
Chi-square goodness-of-fit tests and contingency tables.

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