STAT40060

Learning Outcomes:

At the end of the module students should be able to:Demonstrate understanding of select ratesConstruct life tablesDerive density and distribution functions and moments of random variables representing monetary functions associated with future lifetimes, including joint lifetimesCalculate net and gross premiums and reserves for different types of life insurance and annuity contractsCalculate mortality profit or loss on a prtfolio of policiesDerive Thiele's differential equationsEvaluate increasing and decreasing annuities and assurancesCalculate the profit vector, signature and net present value for conventional policies

Indicative Module Content:

Demonstrate understanding of select rates
Construct life tables
Derive density and distribution functions and moments of random variables representing monetary functions associated with future lifetimes, including joint lifetimes
Calculate net and gross premiums and reserves for different types of life insurance and annuity contracts
Calculate mortality profit or loss on a prtfolio of policies
Derive Thiele's differential equationsEvaluate increasing and decreasing annuities and assurances
Calculate the profit vector, signature and net present value for conventional policies

Student Effort Hours:

Approaches to Teaching and Learning:

Requirements, Exclusions and Recommendations

Students should have a good knowledge of basic statistics (expectations and variances), compound interest and survival models

Module Requisites and Incompatibles

Assessment Strategy

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
• Peer review activities
• Self-assessment activities

How will my Feedback be Delivered?

Not yet recorded.