Overview

This unit covers: valuation of cash flows contingent on death or survival using mortality tables, insurance policies with constant or variable benefit, and with-profits contracts. Also covered are pricing assessments and reserving calculations for various insurance and pension products, involving one or two lives, and subject to multiple competing risks … For more content click the Read More button below.

Offerings

S2-01-CLAYTON-ON-CAMPUS

Requisites

Prerequisite

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Mr Hamza Hanbali

Learning outcomes

On successful completion of this unit, you should be able to:
1.

calculate, using ultimate or select mortality, net premiums and net premium reserves for increasing and decreasing benefits and annuities

2.

develop techniques for the valuation of annuity and assurance products involving two lives, and the use of actuarial functions in that situation

3.

develop methods which can be used to model cash flows contingent upon competing risks

4.

use the technique of discounted emerging costs as used in profit tests, pricing assessments and reserving calculations for various insurance and pension products

5.

address practical issues such as guarantees and options, risk classification and the effects of the pricing and reserving basis on the emergence of profit.

Teaching approach

Peer assisted learning

Assessment

1 - Within semester assessment
2 - Examination

Scheduled and non-scheduled teaching activities

Lectures
Tutorials

Workload requirements

Workload

Other unit costs

Costs are indicative and subject to change.
Electronics, calculators and tools: $40