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Status

Third year, First Semester, Two two-hour lectures per week.

Convener : Associate Professor I. L. MacDonald

Prerequisites

  • BUS2016H Actuarial Science I: Financial Mathematics
  • MAM2000W Mathematics II
  • STA2004F Statistics 2004
  • STA2005S Statistics 2005
  • BUS1003H Introduction to Actuarial Science

Course Outline

Principles of actuarial modelling; principles and classification of stochastic processes; definition and application of Markov chains and processes. Survival models, estimation of lifetime distributions; multiple states; single and multiple decrements, transition intensities and maximum likelihood estimators. Binomial model of mortality, multiple state models. Process of graduation. Testing crude estimates; standard tables.

Duly Performed Requirements

Timeous submission of all tutorial exercises and writing of all class tests. An overall average of 40% for classwork.

Assessment

  • Tutorial and Tests 40%
  • Examination (3hrs) 60%

Last updated : 11 Aug 2014





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