ETX5110 · Actuarial practice 1

Overview

This unit covers the subject material required for Actuaries Institute subject Part IIA The Actuarial Control Cycle. You'll be introduced to the concept of the Actuarial Control Cycle and how it can be applied in practical commercial situations in a wide range of insurance and related applications. This covers life insurance, general insurance, health insurance, pension or superannuation funds and investment issues. The unit also develops your understanding of a wide range of commercial background matters in insurance, pensions and investment - covering features of financial products, the related business environment in Australia, and Government policies affecting insurance and related industries. Risk management is introduced both in terms of the risk issues involved in offering insurance and related financial products, and the general concepts of Enterprise Risk Management.

Offerings

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. discuss and apply an actuarial control cycle in a variety of practical commercial situations
2. apply the tests of professionalism
3. examine the need for and impact of regulation and government policy on medium and long term commercial decisions
4. analyse the main features and risks of financial products and contracts, from the point of view of consumers and providers
5. demonstrate an understanding of enterprise risk management and its role in organisational management
6. apply a risk assessment framework to identify and assess the risks in a range of commercial situations.

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.