MATH20210 Fundamentals of Actuarial and Financial Mathematics II

Academic Year 2021/2022

Mission Statement of the Actuarial Profession: To develop the role and enhance the reputation of the actuarial profession in providing expert and relevant solutions to financial and business problems, especially those involving uncertain future events. This module will show how to solve financial and business problems in actuarial science.

The module is divided into five units:

10. Investments
11. Simple Compound Interest Problems
12. Forward Contracts and the No Arbitrage Assumption
13. Term Structure of Interest Rates
14. Stochastic Interest Rate Models. Use of Excel spreadsheets and simple VBA programmes to carry out data analyses and financial modelling.

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Curricular information is subject to change

Learning Outcomes:

The student will develop:

1. a familiarity with basic financial instruments;
2. computational skills used in the actuarial profession;
3. team skills by working together on problems;
4. a good class spirit (future financial contacts).

Student Effort Hours: 
Student Effort Type Hours
Lectures

36
Tutorial

12
Specified Learning Activities

24
Autonomous Student Learning

36
Total

108
Approaches to Teaching and Learning:
Lectures, tutorials, enquiry and problem-based learning. 
Requirements, Exclusions and Recommendations
Learning Requirements:

Students must have taken MATH20130 prior to this module.
A good knowledge of first year undergraduate calculus and algebra will be assumed, such as that given in (a) MATH10120, Linear Algebra with Applications to Economics; MATH10130 Introduction to Analysis for Economics and Finance; MATH10140 Advanced Calculus for Economics and Finance or (b) MATH10040, Numbers and Functions; MATH10340, Linear Algebra in the Mathematical and Physical Sciences; MATH10350, Calculus in the Mathematical and Physical Sciences or (c) their equivalents from other universities.

Learning Exclusions:

Students NOT taking a degree or diploma in Actuarial Science or Financial Mathematics CANNOT take this module.


Module Requisites and Incompatibles
Pre-requisite:
MATH10040 - Numbers & Functions, MATH10120 - Linear Algebra Apps to Econ, MATH10130 - Intro to Analysis (E&F), MATH10140 - Advanced Calculus (E&F), MATH10340 - Linear Algebra 1 (MPS), MATH10350 - Calculus (MPS)

Co-requisite:
MATH20130 - Fund. Actuarial Mathematics I

Additional Information:
Prerequisites: MATH10120 and MATH10130 and MATH10140 OR MATH10040 and MATH10340 and MATH10350


 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Examination: 2-hour written examination 2 hour End of Trimester Exam No Standard conversion grade scale 40% No

70
Assignment: Two sets of homework questions (worth 5% each) Unspecified n/a Standard conversion grade scale 40% No

10
Examination: 90-minute Excel/R mid-term examination Unspecified No Standard conversion grade scale 40% No

20

Carry forward of passed components
No
 
Resit In Terminal Exam
Autumn Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Not yet recorded.

Name Role
Mr Damian Conway Lecturer / Co-Lecturer