No supplementary examinations are awarded for this course.
18 NQF credits at HEQSF level 7
Convener: C Marais
Course entry requirements: BUS2016H, MAM2000W, STA2004F, STA2005S, BUS1003H, unless course taken as part of a postgraduate degree.
Course outline: The course aims to provide students with a solid foundation in stochastic processes and survival models, and their actuarial application. Topics covered include: 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; assurances and annuities.
DP 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 (3 hour) 60%.
Last updated : 20 Nov 2018