BUS3024S - Actuarial Science II: Contingencies

Status

Third year, second semester, two two-hour lectures per week.

Convener

Associate Professor I L MacDonald

Prerequisites

BUS3018F Actuarial Science II: Models

Course Outline

Simple assurance and annuity contracts; Also more complex contracts (increasing benefits)
Derive formulae for means and variances of benefit payments;
Define standard actuarial symbols and the relationships between them, including standard life table functions (ultimate and select)
Calculate net premiums and net premium provisions (prospective and retrospective)
Derive Thiele's differential equation
Calculate death strain at risk, actual and expected death strains, mortality profit
Calculate gross premiums
Functions involving two lives; cashflow models; discounted emerging costs; Heterogeneity within a population.

Duly Performed Requirements

• Completion and timeous submission of tutorial exercises.
• Writing of all class tests.
• An overall average of 40% for classwork.

Assessment

Tutorials and tests 40%
Examination (3hrs) 60%