Handbook

ACTL40007 Actuarial Practice and Control II

Credit Points: 12.5
Level: 4 (Undergraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2017:

Semester 2, Parkville - Taught on campus.Show/hide details
Pre-teaching Period Start not applicable
Teaching Period 24-Jul-2017 to 22-Oct-2017
Assessment Period End 17-Nov-2017
Last date to Self-Enrol 04-Aug-2017
Census Date 31-Aug-2017
Last date to Withdraw without fail 22-Sep-2017


Timetable can be viewed here.
For information about these dates, click here.
Time Commitment: Contact Hours: Four hours of lectures and/or tutorials per week
Total Time Commitment:

170 Hours

Prerequisites:

Both of:

Subject
Study Period Commencement:
Credit Points:
Semester 2
25
Corequisites: None
Recommended Background Knowledge:

It is recommended that students complete ACTL40006 Actuarial Practice and Control I before enrolling in this subject.

Non Allowed Subjects: None
Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Coordinator

Mr David Heath

Contact

dnheath@unimelb.edu.au

Subject Overview:

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
Assessment:
  • Three hour end-of-semester examination (70%); and
  • Two group assignments of 8 pages each, first due in week 5 and second in week 9 (30%).

Note: Successful completion of this subject requires a pass (50%) in the final exam.

Prescribed Texts:

You will be advised of prescribed texts by your lecturer.

Recommended Texts:

Information Not Available

Breadth Options:

This subject is not available as a breadth subject.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
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.


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