• 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
• Course convener
• Abhinav Mehta
• Mode of delivery In Person
• Co-taught Course
• Offered in Second Semester 2021
Life Contingencies (STAT6043)

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 complex life assurance contracts and life annuity contracts, including a selection effect where appropriate;
2. Calculate reserves, policy values and mortality profits;
3. Perform complex calculations relating to increasing insurances, annuities and with-profit policies;
4. Perform complex calculations relating to multiple life functions and insurances and annuities involving two or more lives;
5. Perform complex 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 insurance contracts and perform complex profit-testing calculations to evaluate profit vector, profit signature, net present value and the profit margin.

## Indicative Assessment

1. Typical assessment may include, but is not restricted to: exams, assignments, quizzes, presentations and other assessment as appropriate (100) [LO 1,2,3,4,5,6,7]

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.

Students are expected to commit 130 hours of work in completing this course. This includes time spent in scheduled classes and self-directed study time.

Not applicable

## Requisite and Incompatibility

To enrol in this course you must have completed STAT6046 and have completed STAT6039 or STAT6013. Incompatible with STAT3037.

## Prescribed Texts

Information about the prescribed textbook will be available via the Class Summary.

## Fees

Tuition fees are for the academic year indicated at the top of the page.

Commonwealth Support (CSP) Students
If you 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). More information about your student contribution amount for each course at Fees

Student Contribution Band:
1
Unit value:
6 units

If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found 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
2021 \$4110
International fee paying students
Year Fee
2021 \$5880
Note: Please note that fee information is for current year only.

## Offerings, Dates and Class Summary Links

The list of offerings for future years is indicative only.
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
5547 26 Jul 2021 02 Aug 2021 31 Aug 2021 29 Oct 2021 In Person View