- Code STAT3037
- Unit Value 6 units
- Offered by Rsch Sch of Finance, Actuarial Studies & App Stats
- ANU College ANU College of Business and Economics
- Course subject Statistics
- Areas of interest Actuarial Studies, Statistics
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.
Upon successful completion, students will have the knowledge and skills to:
Upon successful completion of the requirements for this course, students will achieve an understanding of and facility in:
- 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.
See the course outline on the College courses page. Outlines are uploaded as they become available.
Typical assessment may include, but is not restricted to: in-class quizzes 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.
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- 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.
Offerings, Dates and Class Summary Links
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Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.