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STAT40020

Academic Year 2024/2025

Actuarial Statistics I (STAT40020)

Subject:
Statistics & Actuarial Science
College:
Science
School:
Mathematics & Statistics
Level:
4 (Masters)
Credits:
5
Module Coordinator:
Dr Adrian O'Hagan
Trimester:
Autumn
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

Loss Distributions. Classic distributions used for modelling in insurance and finance. Impact of Reinsurance on Loss. Simulating Loss distributions. Risk Theory. Collective and Individual Risk models for aggregate losses. Panjers model. Copulas. Extreme Value Theory. PCA.

About this Module

Learning Outcomes:

To be able to select appropriate probability distributions for use in modelling losses in insurance and banking.Know how to predict and determine reserves for claims and losses taking into account trends and inflation. To be able to select a reasonable model for short term aggregate losses in a portfolio of policies or loans.

Indicative Module Content:

Loss distributions. Risk models. Copulas. Principal Components. Extreme Value Theory.

Student Effort Hours:
Student Effort Type Hours
Lectures

18
Tutorial

10
Computer Aided Lab

2
Autonomous Student Learning

84
Total

114

Approaches to Teaching and Learning:
active/task-based learning; lectures; reflective learning; lab/studio work; enquiry & problem-based learning;

Requirements, Exclusions and Recommendations
Learning Requirements:

A good basic knowledge of probability and statistics theory is a requirement to take this course.

Learning Recommendations:

Students should have a knowledge of statistical inference at a level equivalent to that which would be achieved upon completion of STAT20100, STAT20110, STAT30240.


Module Requisites and Incompatibles
Not applicable to this module.
 

Assessment Strategy
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Assignment(Including Essay): 3 assignments equally weighted with theory and R questions. Week 5, Week 8, Week 10 Graded No
20
 No
Exam (In-person): Final exam End of trimester
Duration:
2 hr(s)
 Other No
80
 No

Carry forward of passed components
Yes
 

Resit In Terminal Exam
Spring Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

3 assignments each worth 6.67% of final grade, marked with feedback and returned to students, plus group feedback in tutorial sessions.

Name Role
Mr James Hannon Tutor

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
Autumn Tutorial Offering 1 Week(s) - Autumn: All Weeks Mon 10:00 - 10:50
Autumn Lecture Offering 1 Week(s) - Autumn: All Weeks Thurs 14:00 - 14:50
Autumn Lecture Offering 1 Week(s) - Autumn: All Weeks Tues 14:00 - 14:50
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