This course develops actuarial techniques for the valuing of policies which depend on contingent events concerning uncertain lifetimes. Topics include principal forms of heterogeneity within a population and the ways in which selection can occur; definition of simple assurance and annuity contracts; development of formulae for means and variances of the present values of payments; evaluating expected values and variances of simple insurance and annuity contracts; description and calculation of net and gross premiums and provisions for various insurance contracts; and cash flow models and profit tests, extended to multiple decrements and multiple state models.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
Upon successful completion of the requirements for this course, students should have theknowledge and skills to:
Demonstrate an in depth understanding of and effectively implement techniques to
assess:
• Mortality and selection
• Life assurance contracts and life annuity contracts.
• Evaluation of assurances and annuities.
• Reserves and policy values.
• Mortality profit and extra risk.
• Increasing insurances and with-profit policies.
• Increasing annuities and applications of reserves.
• Multiple life functions and insurances and annuities involving two or more lives.
• Contingent and reversionary benefits.
• Accounting for cash flows contingent on competing risks.
• The formation and us of profit tests
Other Information
See the course outline on the College courses page. Outlines are uploaded as they become available.
Indicative Assessment
Typical assessment may include, but is not restricted to: in-class quizzes and a final exam
The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.
Workload
Students are expected to commit at least 10 hours per week to completing the work in this course. This will include at least 3 contact hours per week and up to 7 hours of private study time.
Requisite and Incompatibility
Prescribed Texts
See Course Outline: http://ecocomm.anu.edu.au/courses/outline/STAT6043.pdf
Specialisations
Fees
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- 2
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2018 | $3660 |
- International fee paying students
| Year | Fee |
|---|---|
| 2018 | $5160 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
Second Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 8354 | 23 Jul 2018 | 30 Jul 2018 | 31 Aug 2018 | 26 Oct 2018 | In Person | N/A |
