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Curricular information is subject to change
Students will develop an understanding of the financial needs of individuals and how these are met in practice in different social systems. They will understand the demand for provident financial institutions and their products - life offices, healthcare providers, pension funds, etc. They will know the different products offered and how the institutions can, in principle, manage the associated risks, They will understand how some risks can be hedged using the capital markets and how others can be controlled by underwriting and pooling. Finally, they will have an overview of the complete financial architecture of a modern economy, with a particular emphasis on institutions actuaries advise.
Indicative Module Content:The module will be divided into 8 chapters. The emphasis is on the financial needs of the individual and how these can be met, through either the State, the capital markets, or institutions (life companies, general insurance companies, healthcare providers, pension and provident saving schemes, etc). In turn, we analyse how risks transferred from the individual are mitigated and managed by institutions.
C1: The Financial Life Cycle of an Individual
C2: The Possibility of Insurance
C3: A Taxonomy of Risks
C4: The Actuarial Profession
C5: Institutions of Security (advised by Actuaries)
C6: Actuarial Modelling
C7: The Capital Markets
C8: The State: Social Welfare & Regulation
Student Effort Type | Hours |
---|---|
Lectures | 18 |
Tutorial | 10 |
Total | 28 |
Not applicable to this module.
Description | Timing | Component Scale | % of Final Grade | ||
---|---|---|---|---|---|
Examination: A 2-hour end of trimester exam. It will be in-person and closed-book. | 2 hour End of Trimester Exam | No | Graded | Yes | 100 |
Resit In | Terminal Exam |
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Spring | Yes - 2 Hour |
• Feedback individually to students, on an activity or draft prior to summative assessment
• Self-assessment activities
Problems sheets will be given to students and their approaches to the problems discussed at weekly tutorials. Following that complete solutions will be provided where individual students can assess their attempt relative to what was expected. These exercises will prepare students for the final examination.