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Actuarial Practice and Control II (ACTL90011)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

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Semester 2
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Topics include assessment of solvency; analysis of experience; analysis of surplus; actuarial techniques in the wider fields; and an introduction to professionalism.

Intended learning outcomes


On successful completion of this subject, students should be able to:




  • Discuss and apply an actuarial control cycle in a variety of practical commercial situations;
  • Apply the tests of professionalism;
  • Relate the main features within the general environment to medium and long term commercial decisions;
  • Examine the need for and impact of regulation and government policy on medium and long term commercial decisions;
  • Analyse the main features and risks of financial products and contracts, from the point of view of consumers and providers;
  • Demonstrate an understanding of enterprise risk management and its role in organisational management;
  • Apply a risk assessment framework to identify and assess the risks in a range of commercial situations;
  • Discuss and apply the process of product design;
  • Select an appropriate model to solve client problems;
  • Recognise the importance of capital;
  • Apply relevant approaches and techniques to the valuation of liabilities;
  • Apply appropriate techniques to the pricing of products and contracts;
  • Measure, report and manage solvency;
  • Measure and report emerging profits and/or costs;
  • Monitor and assess experience;
  • Manage the business and respond to the experience.

Generic skills

On successful completion of this subject, students should have improved the following generic skills:

  • Written communication;
  • Collaborative learning;
  • Problem solving; team work;
  • Application of theory to practice;
  • Interpretation and analysis;
  • Critical thinking;
  • Synthesis of data and other information;
  • Evaluation of data and other information;
  • Accessing data and other information from a range of sources.

Last updated: 3 November 2022