BUS3018F
- Actuarial Science II: Models
Status
Third year, First Semester, Two two-hour lectures per week.
Convener
Associate Professor I. L. MacDonald
Prerequisites
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BUS2016H Actuarial Science I: Financial Mathematics
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MAM2000W Mathematics II
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STA2004F Statistics 2004
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STA2005S Statistics 2005
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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%
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