• Class Number 5546
  • Term Code 3160
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Abhinav Mehta
    • Abhinav Mehta
  • Class Dates
  • Class Start Date 26/07/2021
  • Class End Date 29/10/2021
  • Census Date 14/09/2021
  • Last Date to Enrol 02/08/2021
SELT Survey Results

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:

  1. Define and price life assurance contracts and life annuity contracts, including a selection effect where appropriate;
  2. Calculate reserves, policy values and mortality profits;
  3. Perform calculations relating to increasing insurances, annuities and with-profit policies;
  4. Perform calculations relating to multiple life functions and insurances and annuities involving two or more lives;
  5. Perform calculations relating to contingent and reversionary benefits.
  6. Define unit-linked contracts and perform evaluations of cash-flows associated with such contracts including the setting of reserves using ‘zeroising’ approach; and
  7. Project expected cashflows for traditional life insurance contracts and perform profit-testing calculations to evaluate profit vector, profit signature, net present value and profit margin.

Research-Led Teaching

The material covered in this course covers established principles in actuarial work and academia.

Additional Course Costs

Students will need a non-programmable scientific calculator.

Examination Material or equipment

Due to the impacts of COVID-19, the final exam will likely be held as a remote invigilated wattle based exam with limited timeframes and using the Proctorio online invigilation software. Examination materials and conditions will be notified to all students via wattle and the examinations office.

Required Resources

All course materials will be available on wattle. This material includes lecture notes, tutorial exercises and other resources. There are a few recommended readings that are available from ANU Library. More information regarding this will be provided on the wattle page for this course.

You will need access to a calculator to complete the numerical problems required for this course.

You will need access to a computer to get the materials necessary for the course. We will use MS Excel or any other spreadsheet program in this course. Some classwork and tutorial questions and solutions will be illustrated using MS Excel. Learning guides and short video lectures will be made available on wattle for students to learn the application of the concepts taught in this course. Some assignment questions will require the use of MS Excel or a spreadsheet program.

Staff Feedback

Students will be given feedback (through both verbal and written comments) in the following forms in this course:

  • To the whole class during lectures.
  • Within tutorials.
  • Individually during consultation hours.
  • Students will also be given online quiz feedback on Wattle and written comments in the marked assignments.

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Other Information

Assessment Requirements

As a further academic integrity control, students may be selected for a 15-minute individual oral examination of their written assessment submissions.

Any student identified, either during the current semester or in retrospect, as having used ghostwriting services will be investigated under the University’s Academic Misconduct Rule.

Referencing Requirements

Please see the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. For a more interactive guide on what this is all about, please see http://library.acadiau.ca/tutorials/plagiarism/.

Exemption from Actuarial Professional examination

This course along with Financial Mathematics (STAT2032) makes up for the CM1 examination of the Actuaries Institute. More details regarding the grades required for exemption and the procedure to follow is detailed on this webpage: Actuaries Institute requirements.

Class Schedule

Week/Session Summary of Activities Assessment
1 Mortality and selection No tutorials in week 1
2 Life assurance and annuity contracts
3 Evaluation of assurances and annuities
4 Gross premium calculations and accumulations
5 Reserves and policy values
6 Policy values, mortality profit and extra risk Quiz via Wattle
7 Increasing insurances and with-profit policies
8 Increasing annuities and applications of reserves
9 Multiple life functions and policies
10 Cash flow models and profit testing Assignment
11 Unit-linked policies
12 Multiple decrement and multiple state models

Tutorial Registration

Tutorials will be available on campus, live through scheduled Zoom sessions and as pre-recorded videos. Information regarding enrolments for these options will be provided on Wattle during O-Week.

Assessment Summary

Assessment task Value Due Date Return of assessment Learning Outcomes
Quiz 10 % 30/08/2021 03/09/2021 1,2,3
Assignment 20 % 14/10/2021 01/11/2021 1,2,3,4,5,6
Final Examination 70 % 04/11/2021 02/12/2021 1,2,3,4,5,6,7,8,9

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details


ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

Assessment Requirements

The ANU is using 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. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.


Course content delivery will take the form of pre-recorded weekly lectures (available via echo360 on Wattle) and weekly tutorials, delivered in a hybrid format (on-campus, live through scheduled Zoom sessions and as pre-recorded videos).


The final assessment will be held in the exam period with details to be advised no later than teaching week 10 of the semester.

Any student identified, either during the current semester or in retrospect, as having used ghostwriting services will be investigated under the University’s Academic Misconduct Rule. Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further information.

Assessment Task 1

Value: 10 %
Due Date: 30/08/2021
Return of Assessment: 03/09/2021
Learning Outcomes: 1,2,3


This covers all material up to and including what is covered in the lectures of weeks 1-4. Specific details regarding examination conditions will be provided once confirmed.

The online quiz will be carried out on Wattle and can be attempted at the prescribed time during week 6. Typically, this will be a window of at least 3 days to complete the quiz and the length of the quiz will be no longer than 1 hour. More details regarding access and completion of the quiz will be provided in the lectures and on wattle. The quiz is compulsory for all students and is worth 10% of your overall mark.

Assessment Task 2

Value: 20 %
Due Date: 14/10/2021
Return of Assessment: 01/11/2021
Learning Outcomes: 1,2,3,4,5,6


This covers all material up to and including what is covered in the lectures of weeks 1-8. The students are expected to complete this assignment individually. Students will have to complete their assignment using a spreadsheet program like Microsoft Excel. The submission is online via Wattle. More details will be provided during the lectures and on wattle no later than the end of week 7. The assignment is compulsory and is worth 20% of your overall mark for this course. Late submissions of assignments will be subject to the 'Extensions and Penalties' clause in this class summary.

Assessment Task 3

Value: 70 %
Due Date: 04/11/2021
Return of Assessment: 02/12/2021
Learning Outcomes: 1,2,3,4,5,6,7,8,9

Final Examination

The final assessment will be held in the exam period and will be a Wattle based proctorio invigilated exam. This is a compulsory piece of assessment which will be a 4-hour written exam to be held during the end of the semester examination period. Examination materials and conditions will be notified to all students via wattle no later than week 10 of the semester. The exam will be centrally timetabled, and details of the final examination timetable will be made available on the ANU Timetabling website.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

This course may not require the students to use Turnitin for the assignment submission. The assignment is to be submitted online on Wattle at the pre-specified location. You must attach an Assignment Cover Sheet. Please keep a copy of the tasks completed for your records.

Hardcopy Submission

Due to the impact of Covid-19, all assessment submissions are to be done via Wattle. No hard copy submissions will be accepted.

Late Submission

Late submission of assessment tasks without an extension will be penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Returning Assignments

Assignments will be returned via Wattle.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

Assignments may not be resubmitted.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service — including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).
Abhinav Mehta
02 6125 1081

Research Interests

Bio-Statistics, Crime Statistics, Survival Analysis, Longitudinal Data Analysis

Abhinav Mehta

Wednesday 10:00 12:00
Wednesday 10:00 12:00
By Appointment
Abhinav Mehta
02 6125 1081

Research Interests

Abhinav Mehta

Wednesday 10:00 12:00
Wednesday 10:00 12:00
By Appointment

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions