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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





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