1. Handbook
  2. Subjects
  3. Actuarial Practice and Control II

Actuarial Practice and Control II (ACTL40007)

HonoursPoints: 12.5On Campus (Parkville)

You’re viewing the 2017 Handbook. View archived Handbooks

Overview

Year of offer2017
Subject levelHonours
Subject codeACTL40007
Campus
Parkville
Availability
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

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

Learning outcomes

  • 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

  • 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: 07 April 2017