Actuarial Practice and Control I (ACTL40006)
HonoursPoints: 12.5On Campus (Parkville)
Overview
| Availability | Semester 1 |
|---|---|
| Fees | Look up fees |
Topics include insurance markets and products; underwriting and risk assessment; policy design; actuarial modelling; actuarial assumptions and feedback; reserving methods.
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; and
- Select an appropriate model to solve client problems.
Generic skills
On successful completion of this subject, students should have improved the following generic skills:
- High level of development: 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: 4 March 2025
Eligibility and requirements
Prerequisites
All of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ACTL30003 | Contingencies | Semester 2 (On Campus - Parkville) |
12.5 |
| ACTL30004 | Actuarial Statistics | Semester 2 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
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: 4 March 2025
Assessment
| Description | Timing | Percentage |
|---|---|---|
Group Assignment, Groups of 4, 5 page limit (2000 words per group, 500 words per student)
| From Week 8 to Week 10 | 20% |
Group Presentation
| From Week 9 to Week 11 | 5% |
Individual In-Semester Course Work, 5 submissions (200 words per submisison)
| Throughout the teaching period | 5% |
End-of-semester examination
| During the examination period | 70% |
Last updated: 4 March 2025
Dates & times
- Semester 1
Principal coordinator Vincent Lau Mode of delivery On Campus (Parkville) Contact hours Two 2-hour lectures per week Total time commitment 170 hours Teaching period 3 March 2025 to 1 June 2025 Last self-enrol date 14 March 2025 Census date 31 March 2025 Last date to withdraw without fail 9 May 2025 Assessment period ends 27 June 2025 Semester 1 contact information
Vincent Lau: vincent.lau.1@unimelb.edu.au
Time commitment details
170 Hours
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Last updated: 4 March 2025
Further information
- Texts
- 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
Last updated: 4 March 2025