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Life Insurance Models 2 (ACTL90007)
Graduate courseworkPoints: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 2
Overview
Availability | Semester 2 |
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Fees | Look up fees |
This subject provides the groundwork for the capstone subject Life Contingencies. It provides students with a framework for actuarial modelling, and introduces the key ideas of stochastic processes as they apply in actuarial science. The subject also expands students’ existing knowledge of mortality modelling by introducing the important ideas of mortality variation in a population and selection effects, which have implications for the applied topic of pricing life insurance products.
Intended learning outcomes
On successful completion of this subject a student should be able to:
- Describe how to test crude estimates for consistency with a standard table or a set of graduated estimates, and describe the process of graduation;
- Describe the principles of actuarial modelling;
- Describe the general principles of stochastic processes, and their classification into different types;
- Define a Markov chain and apply Markov chains in actuarial problems;
- Describe different forms of selection in insurance.
- Develop a knowledge of actuarial modeling and the application of stochastic processes in insurance settings.
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: 3 November 2022
Eligibility and requirements
Prerequisites
ACTL90006 Life Insurance Models I
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ACTL90006 | Life Insurance Models I | Semester 1 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Students should be competent in the use of Excel.
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: 3 November 2022
Assessment
Additional details
- An individual 1500 word assignment, due in week 12 (10%)
- One hour mid-semester test, week 7 (20%)
- Two hour end of semester exam (70%)
Note: To pass this subject students must pass the end of semester examination.
Last updated: 3 November 2022
Dates & times
- Semester 2
Principal coordinator Kevin Fergusson Mode of delivery On Campus (Parkville) Contact hours A 2 hour seminar and a 1 hour workshop per week Total time commitment 170 hours Teaching period 29 July 2019 to 27 October 2019 Last self-enrol date 9 August 2019 Census date 31 August 2019 Last date to withdraw without fail 27 September 2019 Assessment period ends 22 November 2019 Semester 2 contact information
Time commitment details
Estimated total time commitment of 170 hours per semester
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Graduate Diploma in Actuarial Science Course Master of Actuarial Science - 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.
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: 3 November 2022