Actuarial Statistics (ACTL30004)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Overview

Availability
Semester 2
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Topics include experience rating; claim run-off triangles; generalised linear models; time series and their applications; simulation; decision theory.

Intended learning outcomes


  • Describe the fundamental concepts of rating and apply them to simple experience rating systems
  • Describe and apply techniques for analysing a delay (or run-off) triangle and projecting the ultimate position
  • Use statistical software such as R to estimate parameters for statistical models and to write simple functions to complete routine tasks
  • Explain and apply the method of maximum likelihood estimation
  • Explain the fundamental concepts of a generalised linear model (GLM), and describe how a GLM may apply
  • Define and apply the main concepts underlying the analysis of time series models
  • Explain the concepts of ""Monte Carlo"" simulation using a series of pseudo-random numbers
  • 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; interpretation and analysis; synthesis of data and other information; evaluation of data and other information; use of computer software.

Last updated: 20 March 2025

Eligibility and requirements

Prerequisites

The following:

Code Name Teaching period Credit Points
No longer available

Code Name Teaching period Credit Points
ACTL30002 Actuarial Modelling II
Semester 1 (On Campus - Parkville)
 12.5

Corequisites

None

Non-allowed subjects

Students may not gain credit for both

Code Name Teaching period Credit Points
ACTL30004 Actuarial Statistics
Semester 2 (On Campus - Parkville)
 12.5
and either 300-331 Modelling in Insurance and Finance I or 620-372 Applied Statistical Inference.

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 2
    Principal coordinatorEnrique Calderin
    Mode of deliveryOn Campus (Parkville)
    Contact hoursThree hours of lectures and/ or tutorials per week
    Total time commitment170 hours
    Teaching period24 July 2017 to 22 October 2017
    Last self-enrol date 4 August 2017
    Census date31 August 2017
    Last date to withdraw without fail22 September 2017
    Assessment period ends17 November 2017

    Semester 2 contact information

    enrique.calderin@unimelb.edu.au

Time commitment details

Estimated total time commitment of 170 hours.

Last updated: 20 March 2025

Further information

  • Texts

    Prescribed texts

    You will be advised of prescribed texts by your lecturer.

    Recommended texts and other resources

    Information Not Available

  • Breadth options

    This subject is available as breadth in the following courses:

  • 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.

  • Available to Study Abroad and/or Study Exchange Students

    This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.

Last updated: 20 March 2025