Actuarial statistics
Associate Professor Merran Evans and Dr Paul Kofman
6 points ùTwo 1-hour lectures per week, one 2-hour tutorial per week
* Second semester
* Clayton
* Prerequisites: AAF1021/2 and ECM1031
with division 1 pass or ECM1032 with credit
Objectives On successful completion of this subject students should be able to demonstrate a knowledge of actuarial philosophy and method; use a single decrement model to describe the evolution of a population subject; analyse equations of value based on a single decrement model; define and use assurance functions; evaluate the liabilities under an assurance contract for product pricing, reserving, and surrender values; demonstrate how the emergence of profit on an assurance contract depends on the interaction between pricing and reserving basis; describe and apply techniques for analysing a delay triangle; explain the workings of a no-claims-discount system.
Synopsis An introduction to actuarial principles and methods and demographic statistics policy; and premium settings.
Assessment Two 2-hour open-book tests: 40%
* Examination (2 hours):
60%
* A minimum grade of 40% for each component is required to pass the
subject.
Prescribed texts
Benjamin B and Pollard J H The analysis of mortality and other actuarial statistics Butterworth-Heinemann, 1992
| Published by Monash University, Clayton, Victoria
3168 Copyright © Monash University 1996 - All Rights Reserved - Caution Authorised by the Academic Registrar December 1996 |