A macro-analysis of quality assessment in higher education

In most West European countries a quality control system for higher education is in a process of development. This article examines some general characteristics of the emerging structures, how quality is defined and what impact this definition has on internal evaluation.\ud \ud On the basis of a more substantive conceptualization of the term quality, the current trend of a quality control system in which quality is predominantly defined from one central power centre is questioned. Important methodological and substantive weaknesses inherent in this centralist model will be discussed.\ud \ud In the final section a shift towards a quality control system is advocated in which other interests and perspectives are taken into account

Comonotic approximations for a generalized provisioning problem with application to optimal portfolio selection.

In this paper we discuss multiperiod portfolio selection problems related to a specific provisioning problem. Our results are an extension of Dhaene et al.(2005), where optimal constant mix investment strategies are obtained in a provisioning and savings context, using an analytical approach based on the concept of comonotonicity. We derive convex bounds that can be used to estimate the provision to be set up at a speci…ed time in the future, to ensure that, after having paid all liabilities up to that moment, all liabilities from that moment on can be fulfilled, with a high probability. We give some interpretations of this additional reserve, and apply our results to optimal portfolio selection.

Some Comments on QIS3.

In this paper we discuss some issues proposed in the Solvency II - QIS3 report. In particular we comment and discuss the \AISAM-ACME study on non-life long tail liabilities; reserve risk and risk margin assessment under Solvency II". In the latter study the reserve risk calculation of non-life long tail insurers is investigated, based on a sample of 45 supervised European insurance companies. We start by giving an overview of risk measures used in a solvency environment. Next, we show that the Value-at-Risk measure is the solution of a general optimization problem. In a way this supports the current regulatory regime for banking supervision established by the Basel Capital Accord and the Solvency II regulatory regime under construction. Indeed, both have put forward a Value-at-Risk-based capital requirement approach. In the following Section, we confirm the findings of the AISAM-ACME study that, with respect to reserve risk, a loading for solvency amounting to 15% of the reserves, as put forward in QIS3, might be too high. Next, we discuss the concept of one-year volatility, which is crucial in the context of Solvency II. Also, the relation between a long term VaR and the corresponding short term VaR is explored. To conclude, we illustrate the fact that a long tail business should in many cases lead to a lower solvency capital requirement compared to a short tail business with a comparable amount of liabilities.Solvency II; reserve risk;

ICT-rich and Competency Based Learning in Higher Education

In higher education the focus is changing towards development of professional competence of students: Students learn to apply knowledge in professional situations. Their results and competence development must be measured and assessed, just as in professional life. Characteristic of these professional situations is innovation with ICT as integral part. The associated educational concept is known as ‘competence-based education’. What is competence? And how can it be developed and ascertained? A control structure of reviews and assessments for competence based learning environments is proposed. Authenticity is pointed out as an issue. Three examples of competence based education are presented which are analysed with respect to control and authenticityIn: A.J. Kallenberg and M.J.J.M. van de Ven (Eds), 2002, The New Educational Benefits of ICT in Higher Education: Proceedings. Rotterdam: Erasmus Plus BV, OECR ISBN 90-9016127-