ETM3550 · Actuarial mathematics 2

Overview

This unit provides you with a comprehensive exploration of the actuarial and financial dimensions of life contingencies. You will delve into the principles and techniques crucial for analysing uncertain future events, with a specific focus on their application within insurance products. Furthermore, it covers pricing assessments and reserving calculations for a diverse array of insurance and pension products. This unit provides you with advanced knowledge and practical skills. This capstone unit integrates theoretical concepts with real-world applications, fostering a deep understanding of actuarial mathematics for modelling. Throughout the unit, you will engage in the application of financial mathematics principles, enabling you to calculate gross premiums and reserves for various assurance and annuity contracts. Emphasizing the integration of financial software tools and technology, this unit will equip you to enhance efficiency in financial calculations, modelling, and analysis. This unit serves as the pinnacle of the course, providing you with a holistic perspective on life contingencies and the intricate financial considerations involved in insurance and pension products. It prepares you for the challenges of the actuarial profession, ensuring that you graduate with a well-rounded skill set ready for the dynamic landscape of actuarial analytics. Upon completion of this unit, you will have acquired a thorough and comprehensive understanding of the actuarial and financial dimensions of life contingencies with a specific focus on insurance products, which serves as a crucial component in the development of advanced analytical skills and strategic decision-making for actuarial and financial management in the field of actuarial analytics, and provides sufficient expertise for use in your professional journey in the actuarial field and the actuarial professional examinations.

Offerings

The Handbook publishes no offerings for this unit.

Assessment

The Handbook lists an examination for this unit.

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Requisites

Learning outcomes

1. relate the concepts relating to actuarial mathematics for modeling
2. apply financial mathematics principles to calculate gross premiums and reserves of various assurance and annuity contracts
3. integrate financial software tools and technology to enhance efficiency in financial calculations, modeling, and analysis.

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

Student experience, not official rules. Nothing here changes what the Handbook says.