Actuarial Modelling II (ACTL30002)
Undergraduate level 3Points: 12.5On Campus (Parkville)
Overview
| Availability | Semester 1 |
|---|---|
| Fees | Look up fees |
Topics include exact and census methods for estimating transition intensities based on age; goodness of fit and smoothness of graduated estimates versus crude estimates; actuarial modelling; general principles of stochastic processes; Markov chains in actuarial work.
Intended learning outcomes
- Describe the principles of actuarial modelling
- Describe the general principles of stochastic processes, and their classification into different types
- Define and apply a Markov chain
- Describe how to estimate transition intensities depending on age, exactly or using the census approximation
- Describe how to test crude estimates for consistency with a standard table or a set of graduated estimates, and describe the process of graduation
- Apply pre-requisite mathematical and statistical concepts to the solution of problems on the above topics
Generic skills
-
High level of development: written communication; problem solving; statistical reasoning; application of theory to practice; synthesis of data and other information.
Last updated: 20 March 2025
Eligibility and requirements
Prerequisites
Both of:
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ACTL20002 | Financial Mathematics II | Semester 2 (On Campus - Parkville) |
12.5 |
| MAST20005 | Statistics | Semester 2 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
Students may not gain credit for both
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| No longer available | |||
| No longer available |
Recommended background knowledge
Please refer to Prerequisites and Corequisites.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 20 March 2025
Assessment
Additional details
- 50-minute mid-semester test, middle of semester (10%)
- One 1000-word assignment, due in the second half of semester (10%)
- 2-hour end-of-semester examination, end of semester (80%)
- To pass this subject students must pass the end of semester examination.
Last updated: 20 March 2025
Dates & times
- Semester 1
Principal coordinator Enrique Calderin Mode of delivery On Campus (Parkville) Contact hours Two x 1-hour lecture during semester; An additional one hour lecture every 3rd week during semester; 1x1 hour tutorial per week commencing in second week of semester. Total time commitment 170 hours Teaching period 27 February 2017 to 28 May 2017 Last self-enrol date 10 March 2017 Census date 31 March 2017 Last date to withdraw without fail 5 May 2017 Assessment period ends 23 June 2017 Semester 1 contact information
Time commitment details
170 hours
Last updated: 20 March 2025
Further information
- Texts
- Subject notes
- Breadth options
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Last updated: 20 March 2025