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

Convener : Associate Professor I L MacDonald


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.


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

Last updated : 11 Aug 2014

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