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This module covers part of the syllabus for the professional examination, Models (CS2), of the Faculty and Institute of Actuaries (UK) and is twinned with the module, Models - Survival Models. The module treats the principles behind, and key characteristics, of stochastic models in actuarial applications. Topics treated include: introduction to stochastic modelling; conditional expectation and conditional distribution, martingales, random walks, Markov chains with actuarial applications, continuous time Markov processes, Brownian motion with applications to mathematical finance, Poisson processes.
About this Module
Student Effort Hours:
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Requirements, Exclusions and Recommendations
Not applicable to this module.
Module Requisites and Incompatibles
Not applicable to this module.
Assessment Strategy
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Carry forward of passed components
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| Terminal Exam |
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| Name | Role |
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| Mr Matt Nagle | Tutor |