6 points, SCA Band 3, 0.125 EFTSL
Postgraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
- Second semester 2019 (On-campus)
This unit focuses on the modelling and valuation of cash flows dependent on death, survival, or other uncertain risks.
The learning goals associated with this unit are to:
- calculate, using ultimate or select mortality, net premiums and net premium reserves for increasing and decreasing benefits and annuities
- develop techniques for the valuation of annuity and assurance products involving two lives, and the use of actuarial functions in that situation
- develop methods which can be used to model cash flows contingent upon competing risks
- develop the technique of discounted emerging costs as used in profit tests, pricing assessments and reserving calculations for various insurance and pension products
- address practical issues such as guarantees and options, risk classification and the effects of the pricing and reserving basis on the emergence of profit
- describe the use of multi decrement models in the valuation of actuarial liabilities.
Within semester assessment: 40% + Examination: 60%
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information