- Code ACST8045
- Unit Value 6 units
- Offered by Rsch Sch of Finance, Actuarial Studies & App Stats
- ANU College ANU College of Business and Economics
- Course subject Actuarial Studies
- Areas of interest Actuarial Studies, Finance, Statistics
- Academic career PGRD
- Mode of delivery In Person
- Co-taught Course
This course covers the details and practical understanding of the operations and regulation of the life and general insurance industries and the actuarial management of risks undertaken by life and general insurance companies. Topics include an introduction to the classes of insurance products and insurance operations, the processes for determining premium rates and pricing, reinsurance, valuation of liabilities, and the measurement and management of solvency.
Upon successful completion, students will have the knowledge and skills to:
Upon successful completion of the requirements for this course, students should have the knowledge and skills to:
- Communicate the main classes of life insurance and the operations of life insurance companies
- Understand and apply the processes for determining premium rates and pricing of life insurance policies, including reinsurance
- Understand in depth the processes for estimation of life insurance liabilities and apply a range of valuation techniques
- Explain in detail the main classes of general insurance and the operations of general insurance companies
- Comprehensively understand and implement the processes for determining premium rates and pricing of general insurance policies
- Communicate the processes for estimation of general insurance liabilities and apply a range of valuation techniques
- Communicate the issues of measurement and management of solvency and the concept of risk based capital, for both life and general insurance
Typical assessment may include, but is not restricted to: a presentation, a mid-semester exam and a final exam.
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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
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:
- 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.