| CODE | INS4030 | |||||||||
| TITLE | Actuarial Studies | |||||||||
| UM LEVEL | 04 - Years 4, 5 in Modular UG or PG Cert Course | |||||||||
| MQF LEVEL | Not Applicable | |||||||||
| ECTS CREDITS | 4 | |||||||||
| DEPARTMENT | Banking and Finance | |||||||||
| DESCRIPTION | Objectives: To develop in the participants - an overview of the study of the logic, assumptions, computation, and interpretation of actuarial studies. - the ability to apply various testing of acturial methods. - the deravation of conclusive statistical analysis. - the application of actuarial methods to various insurance scenarios. Contents: - Random Variable and Joint Distributions - Confidence interval and Hypothesis Testing - Stochastic processes and Markov Chains - Survival models and the Life table - Exposed to risk and methods of graduation - Discounting and accumulating - Annuities - Equations of Value - Evaluation of Assurances and Annuities - Net Premium and Gross premium reserves - Profit testing - Efficient market hypothesis and portfolio theory - Loss distribution and Reinsurance - Experience rating and run-off triangles Reading List - Actuarial mathematics. Bowers, N. L.; Gerber, H. U.; Hickman, J. C. et al. 2nd ed. Society of Actuaries, 1997. 753 pages. ISBN: 0938959468 - An introduction to the mathematics of finance. McCutcheon, J. J.; Scott, W. F. Heinemann, 1986. 463 pages. ISBN: 043491228X - Available from the Publications Unit. - Mathematics of compound interest. Butcher, M. V.; Nesbitt, C. J. Ulrich's Books, 1971. 324 pages. ISBN: 0960300015 - Modern Actuarial Theory and Practice by Steve Haberman - Fundamentals of Actuarial Mathematics by S. David Promislow - An Introduction to Actuarial Studies (Elgar Monographs) by M. Atkinson and D.C.M. Dickson - The foundations of life and health insurance (Studies in insurance and actuarial science) by William T Hold - An Introduction to Actuarial Mathematics (Mathematical Modelling: Theory and Applications) by A.K. Gupta and T. Varga - The Analysis of Mortality and Other Actuarial Statistics by Bernard Benjamin, H.W. Haycocks, and J.H. Pollard |
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| STUDY-UNIT TYPE | Lecture | |||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Dominic Cortis |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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