STAT40070 Actuarial Statistics II

Academic Year 2022/2023

Risk and Ruin Theory.Surplus Processes and the probability of ruin.Reinsurance and the adjustment coefficient.Credibility Theory.Bayes approach to credibility theory.Empirical Bayes credibility theory.An Introduction to Generalized Linear Models.Exponential families.Poisson regression.Logistic models.Link functions. Deviance, residuals and goodness of fit. Concepts of Monte Carlo simulation.

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Curricular information is subject to change

Learning Outcomes:

To understand how to use practical methods incorporating both sample and collateral information in estimating premium and claim rates. To obtain a basic understanding of how the techniques of generalized linear models may be used in modelling insurance claim rates and amounts. Simulation methods.

Indicative Module Content:

credibility theory. generalized linear models. Modelling in R

Student Effort Hours: 
Student Effort Type Hours
Autonomous Student Learning

86
Lectures

24
Tutorial

10
Computer Aided Lab

0
Total

120
Approaches to Teaching and Learning:
active/task-based learning; peer and group work; lectures; reflective learning; lab/studio work; enquiry & problem-based learning 
Requirements, Exclusions and Recommendations
Learning Requirements:

Must have taken Actuarial Statistics I.

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
Co-requisite:
STAT40020 - Actuarial Statistics I


 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Continuous Assessment: Problem sets Throughout the Trimester n/a Other No

20
Examination: Final exam 2 hour End of Trimester Exam No Other No

80

Carry forward of passed components
Yes
 
Resit In Terminal Exam
Summer 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?

Homeworks individually marked and returned to students. Group feedback also given in tutorials.

Name Role
Jinbo Zhao Tutor
Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Spring
      
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Thurs 15:00 - 15:50
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Tues 14:00 - 14:50
Tutorial Offering 1 Week(s) - 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Wed 09:00 - 09:50
Spring