Handbook home
Life Contingencies (ACTL90005)
Graduate courseworkPoints: 12.5On Campus (Parkville)
You’re currently viewing the 2024 version of this subject
Overview
Availability | Semester 2 |
---|---|
Fees | Look up fees |
This subject has two primary aims:
To provide fundamental principles of actuarial modelling.
To discuss techniques used to model and value cashflows dependent on death, survival, or other uncertain risks.
Intended learning outcomes
On completion of this subject, students should be able to:
- Define various assurance and annuity contracts, and develop formulae for the means and variances of the present values of the payments under these contracts, assuming constant deterministic interest.
- Define and use assurance and annuity functions involving two lives.
- Describe and use methods of projecting and valuing cashflows that are contingent upon multiple transition events and multiple decrement events.
- Define the gross random future loss and calculate gross premiums and reserves of assurance and annuity contracts.
- Define and calculate death strain at risk, expected death strain, actual death strain, and mortality profit for a single or a portfolio of insurance and annuity policy policies.
- Project expected future cashflows and perform profit testing for various insurance policies.
- Establish non-unit reserves to eliminate (“zeroise”) future negative cashflows for unit-linked contracts.
Generic skills
High level of development:
- Written communication;
- Problem solving;
- Statistical reasoning;
- Application of theory to practice;
- Synthesis of data and other information;
- Use of Computer Software
Last updated: 8 November 2024