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Topics include distributions of accumulations and present values; stochastic interest rate models; time series models; an introduction to ruin theory; claim run-off triangles; stochastic simulation.
Intended learning outcomes
Intended Learning Outcomes
- Critically review simple stochastic models for investment returns.
- Compose and assess techniques for analysing a delay (or run-off) triangle and projecting the ultimate position.
- Elucidate the concept of ruin and commentate on the significance of the adjustment coefficient in ruin theory.
- Contextualise the main aspects of risk and insurance using utility theory.
- Compose and transform financial models in spreadsheet software.
- Compose pre-requisite mathematical and statistical concepts to solve problems related to the above topics.
- High level of development
- Written communication
- Problem solving
- Statistical reasoning
- Application of theory to practice
- Use of computer software
Last updated: 31 January 2024