Offered
Clayton Second semester 2008 (Day)
Synopsis
This unit will introduce students to some of the techniques used in actuarial work, and will give an overview of some of the areas in which actuaries are currently involved. The student is introduced to the basic concepts involved in assessing risk and pricing insurance products, and to this end will gain experience in using past data to model survival and in using a simple model of compound interest to value financial transactions.
Objectives
The learning objectives of this unit are to:
- understand the concepts and techniques used in actuarial work;
- construct demographic statistics, life tables and exposed to risk tables;
- model mortality rates;
- price insurance products and determine reserves.
Assessment
Within semester assessment: 40%
Examination (2 hours): 60%
Contact hours
Two 1-hour lectures per week, one 2-hour tutorial per week
Prerequisites
ETC1010
