ETC2430

Actuarial statistics

Associate Professor Merran Evans

6 points Two 1-hour lectures per week, one 2-hour tutorial per week
* Second semester
* Clayton
* Prerequisites: AFC1021/AFC1022 and ETC1031 with pass or ETC1032 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